Sequans Communications Announces First Quarter 2021 Financial Results

Rhea-AI Summary

Sequans Communications S.A. (NYSE: SQNS) reported its Q1 2021 financial results, highlighting a revenue of $12.3 million, a decline from $15.8 million in Q4 2020, and $8.8 million in Q1 2020. The gross profit was $6.2 million, with a gross margin of 50.1%. However, the company incurred an operating loss of ($5.8 million) and a net loss of ($11.4 million). The financial results reflect a challenging quarter, with a need for improvement moving forward.

Positive

• Gross margin improved to 50.1%, up from 45.1% in Q4 2020.

Negative

• Revenue decreased from $15.8 million in Q4 2020.
• Operating loss increased to ($5.8 million) from ($5.4 million) in Q4 2020.
• Net loss widened to ($11.4 million) compared to previous quarters.

Sequans Communications S.A. (NYSE: SQNS), a leading developer and provider of 5G/4G chips and modules, today announced financial results for the first quarter ended March 31, 2021.

First Quarter 2021 Summary Results Table:

(in US$ millions, except share and per share data)	Q1 2021			Q4 2020			Q1 2020
Revenue	$12.3			$15.8			$8.8
Gross profit	6.2			7.1			4.5
Gross margin (%)	50.1	%		45.1	%		51.3	%
Operating loss	(5.8	)		(5.4	)		(7.8	)
Net loss	(11.4	)

FAQ

What were Sequans Communications' earnings for Q1 2021?

Sequans Communications reported a revenue of $12.3 million for Q1 2021.

How did Sequans perform compared to Q4 2020?

In Q1 2021, Sequans' revenue decreased from $15.8 million in Q4 2020 to $12.3 million.

What was Sequans' net loss for Q1 2021?

Sequans reported a net loss of $11.4 million for Q1 2021.

What is the gross margin reported by Sequans for Q1 2021?

Sequans reported a gross margin of 50.1% for Q1 2021.