Sequans Communications S A (SQNS) has released an update.
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Sequans Communications S.A. reported a significant financial turnaround in Q3 2024, with a net profit of $72.3 million, driven by a strategic deal with Qualcomm. The company’s revenue increased by 4.2% from the previous quarter, reaching $10.1 million, and cash reserves surged to $173.6 million. Sequans is poised for further growth, anticipating a revenue doubling in Q4 2024, bolstered by the 5G and IoT market expansions.
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