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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.
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.
Sequans Communications (NYSE: SQNS) has announced a non-exclusive manufacturing licensing agreement for its Monarch 2 LTE-M/NB-IoT platform. This deal, worth an initial $15 million, allows the license partner to produce and market the Monarch 2 chip under their own brand. CEO Georges Karam highlighted that the agreement validates the value of their technology in IoT applications and offers substantial revenue growth and collaborative opportunities. Sequans aims to bolster its revenue through strategic licensing deals, building on its established history in this domain.
Sequans Communications (NYSE: SQNS) announced that Itron has chosen its Monarch 2 LTE-M/NB-IoT technology to connect Intelis wSource smart water meters. This technology, known for its ultra-low power consumption and high security, will be deployed in Queensland, Australia, aiding the Cairns Regional Council in managing water usage, identifying leaks, and reducing costs. Cameron Ward, VP Procurement at Itron, highlighted Monarch 2's ability to extend battery life up to 15 years and its dual-network capability (LTE-M/NB-IoT) as key factors in the decision. Sequans' global production scalability was also critical in the selection.
Sequans Communications has announced that its Cassiopeia CA410 module has achieved industry certification from PTCRB and GCF. Additionally, the module has successfully completed field testing with a major electricity provider in California.
Developed in collaboration with Anterix, the module supports 900 MHz, CBRS, and public MNO bands, facilitating seamless connectivity for private and public networks. The field tests demonstrated the module's reliable handover and instant failover capabilities.
The CA410 module, offering LTE Cat 4 throughput, is now ready for mass production and integration into smart meters, gateways, and routers for utility applications.
Sequans Communications (NYSE: SQNS) announced the filing and availability of its Annual Report on Form 20-F for the year ending December 31, 2023. The report, filed with the SEC, includes the company's complete audited financial statements for 2023.
Shareholders can access the report on the company's website in the Investors section under SEC Filings or directly from the SEC's website. Additionally, they can request a free printout of the report by contacting Sequans through various provided channels.
Sequans Communications S.A. (NYSE: SQNS) received a notice from the NYSE stating non-compliance with share price and market capitalization listing rules. The company has deficiencies in market cap and share price but is not immediately delisted. Sequans has time to cure these deficiencies and intends to return to compliance within the specified periods.
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