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Sequans Communications S.A. (NYSE: SQNS) is a pioneering company in the development and provisioning of 4G and 5G solutions, specifically geared towards the Internet of Things (IoT) market. Founded in 2003 and headquartered in Paris, France, Sequans has established itself as a leader in cellular semiconductor solutions for both massive and broadband IoT applications. The company designs, develops, and supplies semiconductor solutions worldwide, which are integral to devices such as smartphones, tablets, USB dongles, routers, and a myriad of industrial and consumer multimedia devices.
Sequans' core business involves the production of LTE and WiMAX chips, which are supplied to original equipment manufacturers (OEMs) and original design manufacturers (ODMs) across the globe. Since its inception, the company has expanded its portfolio to include advanced 5G technologies. Notably, Sequans became a prominent player in the LTE market in 2010 when China Mobile selected its technology for the world's first TD-LTE network trial. The company's LTE solutions are now deployed in multiple networks, spanning five continents.
One of Sequans' recent achievements includes significant advancements in its IoT product line. The company's flagship Monarch LTE-M/NB-IoT and Calliope Cat 1/Cat 1bis platforms are known for their industry-leading low power consumption and comprehensive functionalities, which facilitate global deployment. These platforms power a wide range of applications, from asset tracking and smart meters to industrial IoT devices.
In 2024, Sequans announced robust financial results, highlighting a notable increase in product revenue, especially due to the ramp-up in shipments of its LTE-M/NB-IoT Monarch 2 and Cat 1 Calliope 2 products. The company also secured new strategic partnerships and received substantial funding from the French government's France 2030 initiative to develop next-generation 5G NR eRedCap chips, aimed at enhancing IoT capabilities.
Additionally, Sequans is actively exploring strategic partnerships to leverage its unique market position and 5G intellectual property. The company's commitment to innovation is evident in its continuous development of leading-edge solutions, including the Taurus 5G NR chipset, designed for broadband IoT applications that require high-speed connectivity.
Sequans' extensive product portfolio and strategic collaborations position it as a key player in the global IoT market. The company's ongoing projects and financial health signal a positive outlook, with expectations of sustained growth and new opportunities in the rapidly evolving IoT landscape.
Sequans Communications (NYSE: SQNS) has announced its participation in the 27th Annual Needham Growth Conference, scheduled for January 14-16, 2025, at Lotte NY Palace Hotel in New York City. Georges Karam, President and CEO, and Deborah Choate, CFO, will represent the company, conducting one-on-one meetings and delivering a presentation on January 14 at 8:45 a.m. ET in the Stanford room. The presentation will be accessible via webcast on the company's website. Interested parties can schedule meetings through their Needham representatives.
Sequans Communications reported preliminary Q3 2024 financial results, highlighting receipt of $172 million from a strategic deal with Qualcomm and subsequent repayment of $85 million in debt. Revenue reached $10.1 million, up from $9.7 million in Q2 2024 and $7.8 million in Q3 2023. The company posted a net profit of $72.3 million, compared to losses in previous quarters. Gross margin was 82.5%. Management anticipates product revenue growth starting Q4 2024 and continuing into 2025, with breakeven expected in 2026. Operating expenses are targeted to decrease in 2025.
Sequans Communications (NYSE: SQNS), a leading provider of 4G and 5G semiconductors and modules for the Internet of Things, has announced its participation in the 13th Annual ROTH Technology Conference. The event will take place at the Hard Rock Hotel in New York City on November 19-20, 2024.
Company executives Georges Karam (President and CEO) and Deborah Choate (CFO) will conduct one-on-one meetings on November 20. Interested parties are advised to contact their Roth representative for scheduling meetings, subject to conference organizers' optimization.
Sequans Communications S.A. (NYSE: SQNS), a leading provider of 4G and 5G semiconductors and modules for the Internet of Things, has announced its upcoming conference call to review third quarter 2024 financial results. The call is scheduled for Tuesday, November 5, 2024, at 8:00 a.m. ET.
Key details include:
- Financial results release: Pre-market hours on November 5, 2024
- Conference call time: 8:00 a.m. ET / 14:00 CET
- U.S. toll-free dial-in: 800-717-1738
- International dial-in: +1 646-307-1865
- Access code: 1178271
A live and archived webcast will be available on the Sequans website. An audio replay will be accessible until November 12, 2024.
Sequans Communications S.A. (NYSE: SQNS) announces that Building36, an Alarm.com company, has chosen Sequans Monarch® 2 GM02S module to power its new Smart Thermostat HQ. The thermostat, launched on October 2, 2024, features cellular connectivity, eliminating WiFi-related issues. Key features include:
- One-step customer setup
- Built-in smart home hub
- Near-instant connection
The Monarch module's ultra-low power consumption and robust LTE-M/NB-IoT connectivity ensure reliable communication and enhanced energy management. This collaboration aims to simplify installation for HVAC contractors and provide homeowners with a more reliable, energy-efficient smart home experience.
Sequans Communications S.A. (NYSE: SQNS) has announced its commitment to the Massive IoT market following the closure of its transaction with Qualcomm Technologies, Inc. The company received $182 million in cash, with an additional $18 million credited towards the $200 million purchase price. Sequans retains a perpetual license to use, commercialize, and advance its 4G IoT technology.
The company will focus on supporting its 4G LTE-M/NB-IoT and Cat 1bis product line, while developing a roadmap towards low-power 5G variants for Massive IoT, including RedCap and eRedCap. This strategy aims to provide customers with a seamless migration path from 4G to 5G IoT technologies.
Industry leaders from Itron, Geotab, AT&T, and ABI Research have expressed support for Sequans' strengthened position and future innovations in the IoT market.
Qualcomm and Sequans Communications (NYSE: SQNS) have completed the sale of Sequans' 4G IoT technology to Qualcomm. This acquisition strengthens Qualcomm's position in low-power cellular connectivity solutions for industrial IoT applications. Sequans retains a perpetual license to continue using, commercializing, and advancing these technologies.
Georges Karam, CEO of Sequans, emphasized that this transaction validates their technology strength and ensures continued support for their 4G portfolio. Sequans remains well-positioned in the market with a robust balance sheet and a comprehensive portfolio including LTE-M/NB-IoT, LTE Cat 1bis, and upcoming 5G Redcap/eRedCap technology. Qualcomm plans to integrate these 4G IoT technologies into its purpose-built connectivity solutions for IoT.
Sequans Communications (NYSE: SQNS) announced preliminary Q2 2024 financial results and a significant deal with Qualcomm. Key points:
1. Q2 revenue: $9.7M, up 5.4% YoY and 60.5% QoQ
2. Qualcomm to acquire Sequans' 4G IoT technologies for $200M
3. Sequans retains 5G IP and license for ongoing 4G use
4. Q2 gross margin: 84%, up from 63.9% in Q1
5. Operating loss: $3.7M, improved from $8.5M in Q1
6. Net loss: $0.9M ($0.01 per ADS), better than $11.8M in Q1
7. Cash position: $13.1M as of June 30, 2024
The Qualcomm deal is expected to close by October 2024, subject to French regulatory approval. Sequans anticipates modest product revenue growth in Q3 and stronger performance in Q4 2024.
Qualcomm and Sequans have reached an agreement for Qualcomm to acquire Sequans' 4G IoT technologies, including certain employees, assets, and licenses. This acquisition aims to strengthen Qualcomm's Industrial IoT portfolio and accelerate its leadership in digital transformation at the edge. Sequans will retain a license for the 4G IoT technology and continue serving its IoT markets with an improved balance sheet.
The transaction, subject to French regulatory approval, will enhance Qualcomm's offerings of low-power solutions for reliable, optimized cellular connectivity in IoT applications. Sequans maintains full ownership of its 5G technology and will use the capital from this deal to further invest in its IoT business ambitions, including the development of its 5G portfolio.
Sequans Communications, a developer of 5G/4G semiconductors and IoT modules, announced key business updates and Q1 2024 financial results. The company extended its debt standstill agreements until August 2024 and signed a $15 million licensing deal for its Monarch2 LTE platform. Sequans reoriented its R&D focus from 5G fixed wireless to low-power 5G for IoT, aiming for break-even in 2025. Q1 revenue was $6.0 million, a 26.3% increase QoQ but a 49.3% decrease YoY. The gross margin was 63.9%, and net loss was $11.8 million. Cash reserves stood at $0.5 million, excluding new funding.
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