Sequans Communications S ( (SQNS) ) has released its Q4 earnings. Here is a breakdown of the information Sequans Communications S presented to its investors.
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Sequans Communications S.A. is a semiconductor company specializing in wireless cellular technology for the Internet of Things (IoT), offering solutions such as chips, modules, IP, and services optimized for IoT applications. In its preliminary financial results for the fourth quarter and full year of 2024, Sequans reported increased revenue and significant strategic developments. The company’s fourth-quarter revenue rose by 8.9% from the previous quarter, driven by product revenue doubling in line with guidance. However, the gross margin declined to 68.1% from 82.5% in the third quarter, impacting the net profit which showed a loss of $2.7 million compared to a gain of $72.4 million in the previous quarter. For the full year, Sequans reported a net profit of $57 million, a significant turnaround from a loss of $41 million in 2023, largely due to the $200 million Qualcomm deal, which secured the future of its 4G business and strengthened the company’s financial position. Looking forward, Sequans aims to achieve operating income breakeven by 2026, driven by product innovation and growth from Monarch 2 and Calliope 2 shipments in 2025, while focusing on improving revenue and reducing cash burn for sustainable long-term success.
