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SQNS

Sequans Communications S.A.

SQNS

Sequans Communications S.A. • NYSE
$6.03 ▲ 4.15% (+0.24)
Market Cap $152.80 M
52w High $58.30
52w Low $5.02
Dividend Yield 0%
P/E 1.21
Volume 105.44K
Outstanding Shares 25.34M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.289M ▼ $22.195M ▲ $-6.65M ▲ -155.048% ▼ $-47.79 ▼ $2.836M ▲
Q2-2025 $8.142M ▲ $13.974M ▲ $-9.112M ▼ -111.914% ▼ $-35.9 ▼ $-7.005M ▼
Q1-2025 $8.054M ▼ $12.015M ▼ $-7.254M ▼ -90.067% ▼ $-28.7 ▼ $-5.173M ▼
Q4-2024 $11.049M ▲ $12.639M ▲ $-2.011M ▼ -18.201% ▼ $-8 ▼ $106.439M ▲
Q3-2024 $10.08M $-78.656M $72.279M 717.054% $2.926K $49.528M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $13.43M ▼ $431.771M ▲ $206.047M ▲ $225.724M ▲
Q2-2025 $41.6M ▼ $88.291M ▼ $46.823M ▼ $41.468M ▼
Q1-2025 $45.948M ▼ $97.582M ▼ $48.298M ▼ $49.284M ▼
Q4-2024 $62.093M ▼ $106.532M ▼ $51.173M ▼ $55.359M ▼
Q3-2024 $173.583M $222.119M $164.675M $57.444M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-6.65M ▲ $-10.789M ▼ $-353.317M ▼ $358.831M ▲ $-5.17M ▼ $-14.889M ▼
Q2-2025 $-8.958M ▼ $-1.794M ▲ $8.173M ▼ $242K ▲ $6.652M ▲ $-2.442M ▲
Q1-2025 $-6.973M ▼ $-9.384M ▲ $17.971M ▲ $-5.734M ▲ $2.855M ▲ $-9.845M ▲
Q4-2024 $-3.469M ▼ $-27.962M ▼ $-53.754M ▼ $-82.766M ▼ $-164.49M ▼ $-29.84M ▼
Q3-2024 $76.961M $-1.521M $163.405M $-1.423M $160.475M $-3.336M

Revenue by Products

Product Q3-2020Q4-2020Q2-2021
Development And Other Services
Development And Other Services
 $10.00M ▲$0 ▼$10.00M ▲
License
License
 $0 ▲$0 ▲$0 ▲
Product Revenue
Product Revenue
 $0 ▲$0 ▲$20.00M ▲
Technology Broadband and Critical IoT
Technology Broadband and Critical IoT
 $20.00M ▲$0 ▼$0 ▲
Technology Massive IoT
Technology Massive IoT
 $10.00M ▲$0 ▼$10.00M ▲
Technology Vertical
Technology Vertical
 $10.00M ▲$0 ▼$10.00M ▲
Product
Product
 $30.00M ▲$10.00M ▼$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Sequans has finally moved from years of losses to a clear profit in the most recent year. Revenue has been small but fairly steady, while profitability has swung sharply from negative to positive. That shift suggests a mix of higher-margin activity, better cost control, and likely some one-off benefits from strategic deals. The key point: the business historically ran at a loss, but the latest year shows a meaningful turnaround in earnings and per-share results, which now need to prove they are durable rather than temporary.

Balance Sheet

Balance Sheet The balance sheet has strengthened but still looks lean. Total assets have inched up only modestly over time, and cash remains limited in absolute terms, even if it has improved versus earlier years. Debt has come down noticeably, reducing financial strain, and shareholder equity has flipped from negative to clearly positive, reflecting the recent profit and strategic asset sale. Overall, the company looks less fragile than before, but it does not yet have a deep financial cushion, and its Bitcoin treasury approach adds an extra layer of volatility to reported equity values.

Cash Flow

Cash Flow Cash generation is still the weak spot. Operating cash flow has been consistently negative, though the shortfall has been narrowing over time. Free cash flow has also stayed negative, as the company continues to spend on development and capital investments. In simple terms, the business is not yet paying for itself in cash and still relies on external funding, strategic transactions, or its balance sheet to bridge the gap. Turning recent accounting profits into reliable positive cash flow will be a key proof point over the next few years.

Competitive Edge

Competitive Edge Sequans occupies a specialized niche in cellular IoT rather than trying to compete head-on with the largest chip makers. Its strengths are deep focus on low‑power, cost‑sensitive IoT connectivity, strong operator certifications, and sticky design wins that can last for many years in devices like meters, trackers, and industrial equipment. The sale of certain 4G assets to Qualcomm validates the value of its technology but also highlights that it operates next to much larger rivals with far more resources. Its growing shift toward licensing and engineering services could enhance its competitive position by monetizing know‑how without always bearing the full manufacturing burden, but execution risk is high in a field dominated by global giants.

Innovation and R&D

Innovation and R&D The company’s story is heavily driven by innovation. Monarch and Calliope platforms are purpose-built for IoT, with standout strengths in ultra‑low power consumption, tight integration of components, and embedded security. Sequans has been an early mover in key standards like LTE‑M, NB‑IoT, and Cat 1bis, and is now pushing toward 5G reduced‑capability solutions (eRedCap) that aim to give customers an easy upgrade path from 4G to 5G. A strong patent base, custom engineering projects, and the new IP licensing strategy all point to R&D being the core asset. The main question is not whether the technology is advanced—it clearly is—but whether the company can convert that innovation into a broad, recurring, and profitable revenue stream.

Summary

Sequans is a small, specialized semiconductor company that appears to be at a turning point. Financially, it has shifted from long-standing losses to recent profitability and a healthier equity position, yet it still consumes cash and operates with modest resources. Strategically, it has sold key 4G assets to a major industry player, is leaning into an IP licensing and services model, and is investing heavily in next‑generation 5G IoT technology. Its niche focus, strong technical credentials, and sticky customer relationships are notable strengths, but the company still faces execution risk, reliance on a relatively narrow product set, and exposure to both technology transitions and its unconventional treasury choices. The next few years will likely be about proving that the new business model and technology roadmap can support sustainable, cash-generating growth rather than one-off improvements.

NEWS

November 19, 2025 · 6:25 AM UTC

Sequans Communications Announces Update of ADS Repurchase Program

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November 12, 2025 · 8:00 AM UTC

OKI Selects Sequans Monarch for Zero-Energy IoT Series to Monitor Critical Infrastructure

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November 12, 2025 · 7:00 AM UTC

Sequans to Participate in the Roth Technology Conference on November 19, 2025

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November 4, 2025 · 6:05 AM UTC

Sequans Communications Preliminary Third Quarter 2025 Financial Results

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November 4, 2025 · 6:00 AM UTC

Sequans Redeems 50% of Convertible Debt Through Strategic Asset Reallocation

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