Sequans Communications S A Stock Price, News & Analysis

Sequans Communications (NYSE: SQNS) reported its Q2 2022 financial results, noting revenue of $14.2 million, up 2.4% sequentially and 10.6% year-over-year. Gross profit was $8.6 million with a gross margin of 60.7%. The company experienced a $3.1 million net loss, compared to a net profit of $2.0 million in Q1 2022. Notably, the Monarch Cat-M product line saw significant growth, with revenue increase offsetting declines in Broadband services. Cash reserves decreased to $16.8 million at the end of Q2.

Sequans Communications (NYSE: SQNS) announced that CEO Georges Karam will participate in the Canaccord Genuity 42nd Annual Growth Conference from August 8-11, 2022, in Boston, MA. Sequans will hold one-on-one meetings on August 10 and present at 11:00 am ET in the Griffin/Robinson room. Investors can access a live webcast of the presentation via the Sequans Investor Relations website. Sequans, based in Paris, specializes in 5G/4G solutions for IoT, featuring low power consumption and global deployment capabilities.

Sequans Communications (NYSE: SQNS) announced shareholder approval for Dr. Sailesh Chittipeddi to join its board of directors effective June 24, 2022. Chittipeddi, previously with Renesas Electronics, brings extensive experience in IoT and semiconductor technology, holding numerous patents and degrees. He replaces Alok Sharma, who stepped down after over a decade of service. Dr. Chittipeddi expressed enthusiasm about strengthening the partnership between Sequans and Renesas through his board role, emphasizing mutual success.

Sequans Communications S.A. (NYSE: SQNS) will release its second quarter 2022 financial results on August 2, 2022, before market hours. The management will hold a conference call at 8:00 a.m. ET to discuss the results. Investors can dial in using U.S. toll free: 1-877-407-0792 or International: +1-201-689-8263. An archived webcast will be made available on Sequans' investor relations website.

Sequans specializes in 5G/4G chips and modules for IoT devices, offering a comprehensive product portfolio.

Renesas Electronics Corporation has launched two new cloud development kits, CK-RA6M5 and CK-RX65N, designed to integrate its advanced microcontrollers with the RYZ014A Cat-M1 cellular module for seamless cloud connectivity. These kits allow developers to create IoT solutions without complex circuitry designs. They support AWS IoT services and include features such as hardware-based security and multiple connectivity options. Available through worldwide distributors, the kits come with AWS credits and free Cat-M1 data, enhancing the developer experience.

Sequans Communications S.A. (NYSE: SQNS) reported strong first-quarter 2022 results, with revenue of $13.9 million, up 12% year-over-year. Adjusting for a $1.1 million Verizon Jetpack contribution in Q1 2021, growth was 23.7%. Gross profit surged to $9.5 million, yielding a gross margin of 68.1%. The company narrowed its operating loss to $2.0 million and achieved a net profit of $2.0 million. Significant growth in the LTE-M/NB business and increased service revenue from 5G agreements were key drivers. The company is finalizing a strategic partnership expected to fund further 5G investments.

Sequans Communications S.A. (NYSE: SQNS) announced its participation in the B. Riley 22nd Annual Institutional Investor Conference from May 24-26, 2022, at The Beverly Hilton Hotel, Beverly Hills, California. CEO Georges Karam and CFO Deborah Choate will engage in one-on-one meetings on May 26 and host a fireside chat on the same day. For scheduling or inquiries, attendees can contact event organizers via email at conference@brileyfin.com. Sequans specializes in 5G and 4G IoT solutions, providing advanced connectivity for various applications.

According to a new report from Strategy Analytics, the global cellular baseband processor market reached $31.4 billion in 2021, reflecting a 19.5% growth. Qualcomm led the market with a 56% revenue share, while MediaTek gained momentum with a tripling of its 5G baseband shipments. Notably, 5G revenues surged by 71% year-over-year, accounting for 66% of total revenue. Cellular IoT vendors, including Sequans, also gained traction amidst supply constraints, showcasing a diverse portfolio that extends into automotive and IoT applications.

Sequans Communications (NYSE: SQNS) announced its Monarch cellular IoT technology is powering the Infrafon CC1 Smart Badge, unveiled at Mobile World Congress. This intelligent name tag offers cloud-based controls and a variety of functions, including healthcare data and NFC credentials, displayed on an e-paper screen. The Monarch 2 GM02S LTE-M/NB-IoT module ensures low power consumption and reliable connectivity. The device is designed for extended use without battery intervention, highlighting its practicality for sectors like healthcare and workplace safety.