Quarterly ResultMay 5, 2026, 06:23 AM
Sequans Q1 Revenue $6.1M; Net Loss ($54.3M)
AI Summary
Sequans Communications announced preliminary unaudited Q1 2026 financial results, reporting revenue of $6.1 million and a net loss of ($54.3) million. The operating loss of ($50.5) million included significant unrealized and realized losses on Bitcoin investments. Despite the financial losses, CEO Dr. Georges Karam highlighted solid momentum in the IoT semiconductor business, growing backlog, and increased product revenue, expressing optimism for sequential growth and moving toward cash-flow break-even.
Key Highlights
- Q1 2026 revenue was $6.1 million, a 24.8% decrease YoY and 12.5% QoQ.
- Net loss for Q1 2026 was ($54.3) million, or ($3.73) per diluted ADS.
- Operating loss for Q1 2026 was ($50.5) million, including $29.3M Bitcoin impairment.
- Gross margin for Q1 2026 was 37.7%, down from 64.5% in Q1 2025.
- Non-IFRS net loss was ($20.7) million, or ($1.42) per diluted ADS.
- Cash and cash equivalents totaled $10.6 million at March 31, 2026.
- The company held 1,514 Bitcoin with a market value of $103.2 million.
- Remaining convertible debt of $66.2 million was secured by Bitcoin at quarter-end.