SEQUANS COMMUNICATIONS

Sequans Communications S.A. announced it received a notice from the New York Stock Exchange (NYSE) on September 14, 2026, indicating non-compliance with continued listing standards due to a market capitalization deficiency. The company's average global market capitalization fell below $50 million for 30 consecutive trading days, and its stockholders' equity was also below $50 million. Sequans has 90 days to submit a business plan to the NYSE outlining actions to regain compliance within nine months. While the notice does not result in immediate delisting, the company's ADSs will trade with a ".BC" designation.

Sequans Communications announced preliminary unaudited Q2 2026 financial results, reporting revenue of $7.5 million, a 23.2% increase from Q1 2026, driven by an 83.7% year-over-year growth in product sales. The company posted a net loss of ($9.8) million, or ($0.65) per diluted ADS, and an operating loss of ($7.2) million, a significant improvement from the ($50.5) million loss in Q1 2026. Sequans also highlighted its debt-free balance sheet with $21.0 million in cash and 314 Bitcoin holdings, following the full redemption of its convertible debt.

Sequans Communications S.A. announced that Deborah Choate, Chief Financial Officer, will retire from the company effective June 30, 2026, after 19 years of service. Norman Brodt, currently Vice President, Finance, will succeed Ms. Choate as CFO upon her retirement. Dr. Georges Karam, CEO, thanked Ms. Choate for her contributions and expressed confidence in Mr. Brodt's leadership.

Sequans Communications S.A. announced the completion of the redemption of all remaining convertible debt issued in July 2025, funded through the sale of a portion of its Bitcoin holdings. This action simplifies the company's capital structure, resulting in a near debt-free balance sheet and increased financial flexibility. Sequans now holds approximately 658 unrestricted Bitcoin and will monetize these holdings over time, concluding its digital asset treasury strategy. The company is renewing its strategic focus on scaling its IoT semiconductor business, advancing its 5G eRedCap roadmap, and expanding into new high-growth markets.

Sequans Communications held its Annual and Extraordinary General Shareholders' Meeting, approving the 2025 statutory loss of €46.2 million and consolidated loss of $109.3 million. Shareholders authorized significant equity actions, including the issuance of up to 25,000,000 stock subscription warrants to key individuals and set an overall ceiling of 150,000,000 ordinary shares for future warrants and restricted free shares. The company also delegated authority for a capital increase up to €7.5 million and debt instrument issuance up to €15 million, while renewing a director and appointing a new statutory auditor.

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.