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Associated Press
03-03-2025
- Business
- Associated Press
Sequans Unveils Next Generation Cellular IoT Semiconductors at Mobile World Congress 2025
Introducing 5G eRedCap to Address Longevity Challenges for IoT Barcelona, Spain--(Newsfile Corp. - March 3, 2025) - Sequans Communications S.A. (NYSE: SQNS), a pioneer in cellular IoT technology, proudly unveils its third-generation low-power semiconductor solution, which consists of two new advanced chips added to Sequans' flagship Calliope and Monarch IoT product families. By enabling a seamless transition from 4G low-speed modem categories to 5G eRedCap, these chips address the longevity challenges faced by most IoT applications. Additionally, they feature a significant leap in innovation, delivering major enhancements in power consumption, integration, and cost efficiency. The development of these chips benefits from the French 2030 grant awarded to Sequans in 2024 by the French government. Calliope 3: Building on the success of the leading Calliope 2 Cat 1bis solution, Calliope 3 adds 5G NR eRedCap to LTE Cat 1bis, offering longevity with improved data rates and robust connectivity. This makes the Calliope product line an ideal solution for IoT applications requiring reliable and cost-effective connectivity, including fleet management, wearables, and security devices. Monarch 3: Completing the best-in-class LTE-M/NB-IoT Monarch 2 solution, Monarch 3 adds 5G NR eRedCap to LTE-M, providing longevity and ultra-low power efficiency for a wide range of cellular LPWA applications. The Monarch product line is designed to meet the growing demand in industries such as smart metering, healthcare, and asset tracking. Users of Calliope 2 (LTE Cat 1bis) and Monarch 2 (LTE-M/NB-IoT) now have a clear roadmap to manage their transition to 5G NR eRedCap. Calliope 3 and Monarch 3 modules will be footprint and software compatible with Calliope 2 and Monarch 2 modules. Sequans plans to begin providing samples to customers in 2026. 'We are excited to introduce our new generation of cellular IoT semiconductors at Mobile World Congress 2025,' said Georges Karam, CEO of Sequans. 'With the support of 5G eRedCap and enhanced performance, these new chips demonstrate our commitment to innovation and our dedication to providing our customers with the most advanced and efficient cellular connectivity addressing their specific IoT needs.' 'As network operators plan their migration from 4G to 5G, it is critical to have 5G eRedCap semiconductors purpose-built for the IoT to achieve the cost and power efficiency needed for IoT applications,' said Dan Shey, VP at ABI Research. 'Offering products that enable a seamless transition of IoT applications from 4G to 5G eRedCap is extremely important so IoT application designers can develop future-proof products.' Sequans is exhibiting at Mobile World Congress 2025 from March 3 rd to March 6 th in Hall 5, Stand 5E61. Attendees are invited to visit and learn more about these new cutting-edge technologies. About Sequans Sequans Communications S.A. (NYSE: SQNS) is a leading semiconductor company specializing in wireless cellular technology for the Internet of Things (IoT). Our engineers design and develop innovative, secure, and scalable technologies that power the next generation of connected devices. We offer a wide range of solutions, including chips, modules, IP, and services. Our LTE-M/NB-IoT, 4G LTE Cat 1bis, and 5G NR RedCap/eRedCap platforms are optimized for IoT, delivering breakthroughs in wireless connectivity, power efficiency, security, and performance. Established in 2003, Sequans is headquartered in France and has a global presence with offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, and China.
Yahoo
03-03-2025
- Business
- Yahoo
Sequans Unveils Next Generation Cellular IoT Semiconductors at Mobile World Congress 2025
Introducing 5G eRedCap to Address Longevity Challenges for IoT Barcelona, Spain--(Newsfile Corp. - March 3, 2025) - Sequans Communications S.A. (NYSE: SQNS), a pioneer in cellular IoT technology, proudly unveils its third-generation low-power semiconductor solution, which consists of two new advanced chips added to Sequans' flagship Calliope and Monarch IoT product families. By enabling a seamless transition from 4G low-speed modem categories to 5G eRedCap, these chips address the longevity challenges faced by most IoT applications. Additionally, they feature a significant leap in innovation, delivering major enhancements in power consumption, integration, and cost efficiency. The development of these chips benefits from the French 2030 grant awarded to Sequans in 2024 by the French government. Calliope 3: Building on the success of the leading Calliope 2 Cat 1bis solution, Calliope 3 adds 5G NR eRedCap to LTE Cat 1bis, offering longevity with improved data rates and robust connectivity. This makes the Calliope product line an ideal solution for IoT applications requiring reliable and cost-effective connectivity, including fleet management, wearables, and security devices. Monarch 3: Completing the best-in-class LTE-M/NB-IoT Monarch 2 solution, Monarch 3 adds 5G NR eRedCap to LTE-M, providing longevity and ultra-low power efficiency for a wide range of cellular LPWA applications. The Monarch product line is designed to meet the growing demand in industries such as smart metering, healthcare, and asset tracking. Users of Calliope 2 (LTE Cat 1bis) and Monarch 2 (LTE-M/NB-IoT) now have a clear roadmap to manage their transition to 5G NR eRedCap. Calliope 3 and Monarch 3 modules will be footprint and software compatible with Calliope 2 and Monarch 2 modules. Sequans plans to begin providing samples to customers in 2026. "We are excited to introduce our new generation of cellular IoT semiconductors at Mobile World Congress 2025," said Georges Karam, CEO of Sequans. "With the support of 5G eRedCap and enhanced performance, these new chips demonstrate our commitment to innovation and our dedication to providing our customers with the most advanced and efficient cellular connectivity addressing their specific IoT needs." "As network operators plan their migration from 4G to 5G, it is critical to have 5G eRedCap semiconductors purpose-built for the IoT to achieve the cost and power efficiency needed for IoT applications," said Dan Shey, VP at ABI Research. "Offering products that enable a seamless transition of IoT applications from 4G to 5G eRedCap is extremely important so IoT application designers can develop future-proof products." Sequans is exhibiting at Mobile World Congress 2025 from March 3rd to March 6th in Hall 5, Stand 5E61. Attendees are invited to visit and learn more about these new cutting-edge technologies. About Sequans Sequans Communications S.A. (NYSE: SQNS) is a leading semiconductor company specializing in wireless cellular technology for the Internet of Things (IoT). Our engineers design and develop innovative, secure, and scalable technologies that power the next generation of connected devices. We offer a wide range of solutions, including chips, modules, IP, and services. Our LTE-M/NB-IoT, 4G LTE Cat 1bis, and 5G NR RedCap/eRedCap platforms are optimized for IoT, delivering breakthroughs in wireless connectivity, power efficiency, security, and performance. Established in 2003, Sequans is headquartered in France and has a global presence with offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, and China. Visit Sequans at and follow us on LinkedIn and X. Sequans investor relations: Kim Rogers (USA), +1 385.831.7337, ir@ media relations: Linda Bouvet (France), +33 1 70 72 16 00 media@ To view the source version of this press release, please visit Sign in to access your portfolio
Associated Press
11-02-2025
- Business
- Associated Press
Sequans Communications Preliminary Fourth Quarter and Full Year 2024 Financial Results
Paris, France--(Newsfile Corp. - February 11, 2025) - Sequans Communications S.A. (NYSE: SQNS) ('Sequans' or the 'Company'), a leading developer and provider of 5G/4G semiconductors and IoT modules, today announced preliminary financial results for the fourth quarter and full year ended December 31, 2024. Fourth Quarter and full year 2024 Summary Preliminary Results Table: [This table cannot be displayed. Please visit the source.] Georges Karam, CEO of Sequans, stated, '2024 was a pivotal year for Sequans, marked by the successful $200 million Qualcomm deal. This milestone secures the future of our 4G business, strengthens our financial position, and enables us to continue innovating and developing new 4G/5G IoT products. Reinvigorated by this achievement, we grew our fourth-quarter total revenue by 9% sequentially while doubling our product revenue, in line with our guidance.' Mr. Karam continued, 'Looking ahead, we are committed to achieving operating income breakeven by 2026. This goal is supported by the renewal of strong business momentum and the anticipated growth from Monarch 2 and Calliope 2 shipments in 2025. Another key component of our strategy is new product development and innovation, validated by our recent acquisition of ACP, Advanced Circuit Pursuit A.G., strengthening our leadership in IoT cellular technology and accelerating the development of our 5G eRedCap chip.' Mr. Karam concluded, 'We are equally committed to improving revenue and reducing our cash burn from operating activities. By focusing on strong execution and financial discipline, we are positioning Sequans for sustainable, long-term success.' Q1 2025 Outlook The following statement is based on management's current assumptions and expectations. This statement is forward-looking, and actual results may differ materially. Management expects total revenue to be in the range of $7-8 million, with product revenue contributing about 50% reflecting the seasonal weakness we typically see in the first quarter. In addition, licensing revenue related to the Qualcomm deal is expected to be lower than the amount recognized in Q4 2024. Fourth Quarter 2024 Financial Summary: Revenue: Revenue was $11.0 million, an increase of 8.9% compared to the third quarter of 2024 and an increase of 130.0% compared to the fourth quarter of 2023. Product revenue was $4.7 million, an increase of 101.4% compared to the third quarter of 2024 and an increase of 19.5% compared to the fourth quarter of 2023. License and services revenue was $6.2 million compared to $7.7 million in the third quarter of 2024, in both quarters primarily related to partial deliveries under the 5G broadband platform license to Qualcomm. Gross margin: Gross margin was 68.1% compared to 82.5% in the third quarter of 2024 and 12.2% in the fourth quarter of 2023. Operating profit (loss): Operating loss was $5.3 million compared to operating gain of $87.1 million in the third quarter of 2024 and operating loss of $12.6 million in the fourth quarter of 2023. Operating profit in the third quarter of 2024 included the net gain on sale of the 4G IP assets to Qualcomm for $152.9 million, partially offset by a $56.6 million loss on the impairment of 5G broadband platform assets and operating expenses of $17.5 million. Net profit (loss): Net loss was $2.7 million, or ($0.11) per diluted ADS, compared to net gain of $72.4 million, or $2.62 per diluted ADS, in the third quarter of 2024 and net loss of $17.3 million, or ($0.71) per diluted ADS, in the fourth quarter of 2023. Non-IFRS profit (loss) and diluted profit (loss) per ADS: Excluding the non-cash stock-based compensation, the non-cash impact of the fair-value and effective interest adjustments related to the convertible debt and associated embedded derivatives and other financings, non-IFRS net loss was $2.1 million, or ($0.08) per diluted ADS, compared to non-IFRS net gain of $80.5 million, or $2.91 per diluted ADS in the third quarter of 2024, and net loss of $13.7 million, or ($0.56) per diluted ADS, in the fourth quarter of 2023. Cash: Cash and cash equivalents at December 31, 2024 totaled $62.1 million compared to $173.6 million at September 30, 2024. In October 2024, approximately $85 million in matured debt and accrued interest was repaid, as well as large payments of past due trade payables, and payment of costs and fees related to the Qualcomm transaction that closed on September 30, 2024. Conference Call Details Date: Tuesday, February 11, 2025 Time: 8:00 a.m. ET / 14:00 CET U.S. toll-free: 1-800-717-1738 1 International: +1-646-307-1865 Access: When prompted, provide the event title or access code 06231. A live and archived webcast of the call will be available from the Investor Relations section of the Sequans website at An audio replay of the conference call will be available until February 18, 2025, by dialing toll-free 1-844-512-2921 in the U.S. or +1 412-317-6671 from outside the U.S., using the following access coder: 1106231. Forward-Looking Statements This press release contains certain statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations and business of Sequans, including the impact of the recently closed Qualcomm strategic transaction on our continuing operations, revenue and expense expectations in Q1 2025 and anticipated breakeven timeline. These forward-looking statements include, but are not limited to, statements that are not historical fact. These forward-looking statements can be identified by the fact that they do not relate to historical or current facts. Forward-looking statements also often use words such as 'anticipate,' 'committed to', 'target,' 'continue,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'goal,' 'believe,' 'hope,' 'aims,' 'continue,' 'could,' 'project,' 'should,' 'will' or other words of similar meaning. These statements are based on assumptions and assessments made by Sequans in light of its experience and perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct, and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement. Forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Such risks and uncertainties include, but are not limited to, potential adverse reactions or changes to business relationships resulting from the completion of the transaction; and potential negative effects of the consummation of the Qualcomm transaction on the market price of Sequans' ADS and ordinary shares. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business and competitive environments, market and regulatory forces. If any one or more of these risks or uncertainties materialize or if any one or more of the assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Such forward-looking statements should therefore be construed in the light of such factors. A more complete description of these and other material risks can be found in Sequans' filings with the SEC, including its annual report on Form 20-F for the year ended December 31, 2023, subsequent filings on Form 6-K and other documents that may be filed from time to time with the SEC. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Sequans undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable law. We have not filed our Form 20-F for the year ended December 31, 2024. As a result, all financial results described in this earnings release should be considered preliminary, and are subject to change to reflect any necessary adjustments or changes in accounting estimates, that are identified prior to the time we file our Form 20-F. Use of Non-IFRS/non-GAAP Financial Measures To supplement our unaudited consolidated financial statements prepared in accordance with IFRS, we disclose certain non-IFRS, or non-GAAP, financial measures. These measures exclude the non-cash stock-based compensation and the non-cash impacts of convertible debt extensions, effective interest adjustments related to the convertible debt with embedded derivatives and other financings; deferred tax benefit or expense related to the convertible debt and other financings. We believe that these measures can be useful to facilitate comparisons among different companies. These non-GAAP measures have limitations in that the non-GAAP measures we use may not be directly comparable to those reported by other companies. We seek to compensate for this limitation by providing a reconciliation of the non-GAAP financial measures to the most directly comparable IFRS measures in the table attached to this press release. About Sequans Communications Sequans Communications S.A. (NYSE: SQNS) is a leading semiconductor company specializing in wireless cellular technology for the Internet of Things (IoT). Our engineers design and develop innovative, secure, and scalable technologies that power the next generation of connected devices. We offer a wide range of solutions, including chips, modules, IP, and services. Our LTE-M/NB-IoT, 4G LTE Cat 1bis, and 5G NR RedCap/eRedCap platforms are optimized for IoT, delivering breakthroughs in wireless connectivity, power efficiency, security, and performance. Established in 2003, Sequans is headquartered in France and has a global presence with offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, and China. Condensed financial tables follow SEQUANS COMMUNICATIONS S.A. [This table cannot be displayed. Please visit the source.] SEQUANS COMMUNICATIONS S.A. PRELIMINARY UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [This table cannot be displayed. Please visit the source.] SEQUANS COMMUNICATIONS S.A. PRELIMINARY UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION [This table cannot be displayed. Please visit the source.] [This table cannot be displayed. Please visit the source.] [This table cannot be displayed. Please visit the source.] [This table cannot be displayed. Please visit the source.]
