SQNS

MKT CAP:$49M

Sequans Communications S.A.

Market Cap

$49M

Technology·Semiconductors·🇫🇷 France·NYSE

Technology·Semiconductors·🇫🇷·NYSE

Stock Price

$2.82-$2.00 (-41.49%)

Apr 22, 2026

Company Details

Sequans Communications S.A., together with its subsidiaries, engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband internet of things markets. It offers baseband solutions ...

CEO

Georges Karam

IPO Date

Apr 19, 2011

Website

www.sequans.com

Key Metrics TTM

Revenue

$29M

— YoY

Net Income

-$113M

EPS (Diluted)

-$8.79

Free Cash Flow

-$13M

Revenue / Share

$2.09

Gross Margin

45.2%

Operating Margin

-146.4%

Net Margin

-386.7%

FCF Margin

-46.2%

P/S

1.7x

P/E

—

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Dec 30, 2025

$27MEPS -$7.40

Q4 2025

Feb 10, 2026

$7MEPS -$6.30

Q3 2025

Nov 4, 2025

$4MEPS -$0.48

FY 2023

May 15, 2024

$34MEPS -$0.18

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 18	$11M	$5M	-$7M
Q1 19	$7M	$3M	-$7M
Q4 19	$9M	$4M	-$6M
Q1 20	$9M	$5M	-$8M
Q3 25	$4M	$2M	-$20M
Q4 25	$7M	$3M	-$9M

Valuation

Quarter	P/S	P/E
Q1 18	—	—
Q1 19	—	—
Q4 19	—	—
Q1 20	1.4x	—
Q3 25	1.7x	—
Q4 25	1.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 18	-$6M	-$7M
Q1 19	-$5M	-$6M
Q4 19	$16M	$14M
Q1 20	-$8M	-$10M
Q3 25	-$11M	-$15M
Q4 25	-$2M	-$2M

Capital Expenditures

Quarter	CapEx
Q1 18	$792.0K
Q1 19	$2M
Q4 19	$3M
Q1 20	$2M
Q3 25	$4M
Q4 25	$700.9K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 25	-61.8%	+33.5%
Q4 25	-1.2%	+9.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 18	$531.0K	4.7%
Q1 19	$488.0K	6.9%
Q4 19	$518.0K	5.7%
Q1 20	$667.0K	7.6%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 18	$8M	$2M	$2M	—
Q1 19	$6M	$2M	$2M	—
Q4 19	$6M	$2M	$2M	—
Q1 20	$7M	$3M	$2M	—
Q3 25	$8M	$4M	$2M	—
Q4 25	$7M	—	—	$5M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$10M	$17M	$26M
Q2 22	$10M	$7M	$17M
Q3 22	$6M	$0	$6M
Q4 22	$6M	$5M	$11M
Q1 23	$5M	$0	$5M
Q2 23	$3M	$5M	$8M
Q3 23	$7M	$0	$7M
Q4 23	$6M	$0	$6M
Q1 24	$474.0K	$0	$474.0K
Q2 24	$13M	$0	$13M
Q3 24	$174M	$0	$174M
Q4 24	$9M	$53M	$62M
Q1 25	$12M	$34M	$46M
Q2 25	$19M	$23M	$42M
Q3 25	$13M	$0	$13M
Q4 25	$13M	$0	$13M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 18	9M	—	—
Q1 19	9M	+3.6%	—
Q4 19	10M	+0.4%	—
Q1 20	10M	+0.5%	—
Q3 25	14M	+45.7%	+52.3%
Q4 25	14M	0.0%	+47.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 18	$432.1K	26
Q1 19	$175.9K	40
Q4 19	$241.2K	38
Q1 20	$230.8K	38
Q3 25	$27.7K	155
Q4 25	$44.9K	155

Revenue / Employee