Sequans reports preliminary Q3 EPS $2.91 vs. (29c) last year

Reports Q3 revenue $10.1M vs. $7.8M last year. “We are excited about our position in the IoT market following the successful closure of our Qualcomm deal, which significantly strengthened our balance sheet,” said Georges Karam, CEO of Sequans (SQNS). “As we look ahead, we anticipate growth in product revenue beginning in the fourth quarter of 2024 and continuing into 2025. With operating expenses targeted to decrease in 2025, we expect to reach breakeven in 2026. Our financial stability ensures that customers can rely on us for their multi-year application deployments, securing our design wins pipeline and accelerating its growth. With proven technology leadership, an experienced team, and a strategic go-to-market approach tailored for the IoT market, we are more confident than ever in our competitive edge, which we intend to maintain with an innovative product strategy that includes enhancements to our existing 4G IoT platforms and the introduction of next-generation 5G RedCap/eRedCap products.”