Sequans Communications showed significant revenue growth year-over-year and advancements in their technology and design-win pipeline. However, the company faced challenges with sequential revenue decline, operating losses, and decreased gross margins. Despite these challenges, the company's strategic advancements and financial management indicate potential for future improvement.

Company Guidance -

Q2 2025

During the Sequans Communications First Quarter 2025 Financial Results Conference call, the company provided guidance on its strategic priorities and financial outlook. Sequans reported a first-quarter revenue of $8.1 million, exceeding their guidance benchmark, with product revenue at $3.5 million, marking a 42% increase compared to Q1 2024. The total pipeline is estimated at approximately $480 million, with $250 million in the design-win phase. The company anticipates revenue growth with several design-win projects moving into production, expecting around 50% of the design-win pipeline to generate revenue by the end of 2025. Sequans plans to launch Monarch 3 and Calliope 3 chips by the end of 2026 to enhance cost structure and power consumption, supporting the 5G eRedCap modem category. The company targets operating income break-even in 2026, aiming to reduce cash burn to below $5 million per quarter by the end of 2025, while managing cash operating expenses under $10 million per quarter. The guidance also highlighted the potential impact of new U.S. tariffs, though no direct effect on business is currently observed.

Revenue Growth

First quarter 2025 revenue increased 34% to $8.1 million compared to the first quarter of 2024, driven by a 42% increase in product revenue.

Monarch 2 and Calliope 2 Progress

Monarch 2 remains a key driver of revenue growth with new projects in pilot rollout. Calliope 2 shipments began and are expected to ramp through the second half of 2025.

Design-Win Pipeline

A strong design-win pipeline with approximately $480 million in potential revenue, with $250 million already in the design-win phase.

5G RedCap and eRedCap Roadmap

ACP acquisition accelerated the 5G eRedCap roadmap by 18 months, with next-generation chips expected to contribute to revenue in late 2027.

Cash Management and Financial Position

Cash and short-term deposits totaled $45.9 million at the end of Q1, with no need for an equity raise in 2025 or 2026.

Sequans Communications S A (SQNS) Earnings, Revenues Date & History

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SQNS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 05, 2025	2025 (Q2)	-0.27 / -	―	―	―	―
May 06, 2025	2025 (Q1)	-0.24 / -0.24	-0.35	31.43% (+0.11)	―
Feb 11, 2025	2024 (Q4)	-0.07 / -0.08	-0.575	86.09% (+0.49)	―
Nov 05, 2024	2024 (Q3)	-0.38 / 2.91	―	―	―
Aug 23, 2024	2024 (Q2)	-0.28 / -0.23	-0.275	16.36% (+0.05)	―
May 01, 2024	2024 (Q1)	-0.15 / -	―	―	―	―
Mar 07, 2024	2023 (Q4)	-0.38 / -0.57	-0.15	-283.33% (-0.42)	―
Nov 02, 2023	2023 (Q3)	-0.25 / -	―	―	―	―
Aug 07, 2023	2023 (Q2)	-0.28 / -0.28	-0.05	-450.00% (-0.23)	―	―
May 03, 2023	2023 (Q1)	-0.29 / -0.23	-0.1	-125.00% (-0.13)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SQNS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 06, 2025	$1.90	$1.46	-23.16%
Feb 11, 2025	$3.02	$2.77	-8.28%
Nov 05, 2024	$2.55	$2.71	+6.27%
Aug 23, 2024	$1.36	$2.88	+111.76%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.