Sequans Communications reports second quarter revenue flat at $8.1 million

Sequans Communications S.A. (NYSE: SQNS) reported preliminary second quarter 2025 revenue of $8.1 million, unchanged from the first quarter and down 16% from $9.7 million in the same period last year, according to a company statement.

The Paris-based semiconductor company posted a net loss of $9.1 million, or $0.36 per diluted American Depositary Share, compared to a net loss of $7.3 million in the prior quarter and $0.6 million in the second quarter of 2024.

Product revenue increased 10% sequentially to $3.9 million and rose 59% year-over-year. License and services revenue declined to $4.3 million from $4.5 million in the first quarter and $7.2 million in the prior year period.

Gross margin remained relatively stable at 64.4%, compared to 64.5% in the first quarter and 84.0% in the second quarter of 2024.

Operating loss widened to $8.7 million from $6.8 million in the previous quarter and $3.7 million in the year-ago period. The company attributed the increase to non-recurring items including restructuring costs and advisory fees related to major transactions.

Sequans completed a $384 million financing on July 7, 2025, and used the proceeds to acquire 3,072 Bitcoin as part of its treasury strategy. The company held $41.6 million in cash and cash equivalents at June 30, 2025, excluding the financing proceeds.

CEO Georges Karam stated the company is targeting breakeven operating income in 2026 as its IoT business continues to improve. The company plans to provide Bitcoin-related key performance indicators beginning with third quarter results.

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