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Sequans Communications S.A. is a fabless semiconductor company specializing in wireless cellular technology for the Internet of Things (IoT). The company designs and develops innovative chips, modules, intellectual property (IP), and services that enable secure and scalable connectivity for IoT devices. Its solutions cater to a wide range of applications, including smart homes, industrial IoT, and enterprise connectivity, leveraging advanced LTE and 5G technologies.
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Broadband IoT - Powers applications requiring high throughput, low latency, and large data volumes, such as enterprise routers, home gateways, and industrial devices. Includes 4G LTE Cat 4/Cat 6 platforms and the upcoming Taurus 5G/4G chip platform.
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Massive IoT - Focuses on low-power, cost-efficient solutions for large-scale IoT deployments, including smart mobility, logistics, utility meters, and e-health. Features Monarch LTE-M/NB-IoT platforms and Calliope Cat 1 platforms optimized for power efficiency and global deployment.
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Critical IoT - Supports ultra-reliable, low-latency communications for applications requiring high performance and reliability.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Dr. Georges Karam ExecutiveBoard | Chairman of the Board and CEO | None | Dr. Karam has been with Sequans since its founding in 2003, serving as its Chairman and CEO. He has a PhD in Signal Processing and Communication Theory and has been instrumental in establishing Sequans as a leader in 4G and 5G solutions. | View Report → |
Bertrand Debray Executive | Executive Vice President, Broadband IoT Business | None | Bertrand Debray has been with Sequans since its founding in 2003, previously serving as COO and VP of Engineering. He has over 20 years of experience in access technologies. | |
Danny Kedar Executive | Chief Operating Officer | None | Danny Kedar has been COO since November 2020, previously VP of the IoT Business Unit. He has a background in engineering and business management. | |
Deborah Choate Executive | Chief Financial Officer | None | Deborah Choate has been the CFO since July 2007, with over 35 years of experience in management, finance, and accounting, particularly in technology companies. | |
Louis Chuang Executive | Executive Vice President, Massive IoT Business | None | Louis Chuang has been with Sequans since April 2022, previously serving as General Manager for Asia-Pacific. He has extensive experience in wireless solutions. | |
Nikhil Taluja Executive | Executive Vice President of Worldwide Sales | None | Nikhil Taluja has been with Sequans since September 2016, with over 20 years of experience in sales and marketing in communications. | |
Olivier Pauzet Executive | Executive Vice President of Marketing and Strategy | None | Olivier Pauzet joined Sequans in August 2023, previously holding multiple roles at Sierra Wireless, including VP of Product and IoT Solutions. | |
Dominique Pitteloud Board | Director | Co-founder and Managing Partner at Climb Ventures, Advisor to ASSIA | Dominique Pitteloud has been a director since January 2005, with a background in venture capital and executive roles in technology companies. | |
Hubert de Pesquidoux Board | Director | Executive Partner at Siris Capital, Director and Audit Committee Chair at Criteo S.A., Executive Chairman of Mavenir Systems, Inc., Board Member at Tarana Wireless | Hubert de Pesquidoux has been a director since March 2011, with a background in executive roles at Alcatel-Lucent. | |
Maria Marced Board | Director | Chairwoman of the EMEA Leadership Council of the Global Semiconductor Alliance | Maria Marced joined SQNS as a director in June 2023, previously President of TSMC Europe BV. | |
Richard Nottenburg Board | Director | Executive Chairman of NxBeam Inc., Board Member of Verint Systems Inc., Cognyte Ltd., and Applied Digital Inc. | Richard Nottenburg has been a director since June 2016, with extensive experience in executive roles and board memberships. | |
Wesley Cummins Board | Director | CEO of Applied Digital Corporation, President of B. Riley Asset Management, Board Member of Vishay Precision Group and CalAmp | Wesley Cummins has been a director since June 2018 and holds significant roles in other companies, including CEO of Applied Digital Corporation. | |
Yves Maitre Board | Director | CEO of Able France, Board Member of Orange China | Yves Maitre has been a director since June 2014, with previous executive roles at HTC Corporation and Orange Corporate. | |
Zvi Slonimsky Board | Director | Chairman of Awear, Maradin, and Surf | Zvi Slonimsky has been a director since November 2006, with extensive experience in executive roles in high-tech companies. |
- Given the $250 million design win pipeline over the next three years, what specific measures are you implementing to ensure these design wins convert into actual revenue as projected, especially considering past delays in design win conversions?
- With the indefinite suspension of the 5G Taurus project and the associated $56.6 million impairment charge, can you elaborate on the reasons behind this decision and how it impacts your overall 5G strategy moving forward?
- You plan to reduce cash operating expenses to below $10 million per quarter in 2025 while investing in next-generation 5G RedCap and eRedCap solutions; how do you intend to balance cost reductions with the necessary R&D investments to stay competitive in the rapidly evolving IoT market?
- The Qualcomm transaction has improved your financial standing, but with only $13 million of licensing revenue to be recognized between Q4 and 2025 from this deal, what are your expectations for sustainable, long-term revenue streams from this partnership beyond the initial agreement?
- Considering your previous financial challenges and the impact on securing new project wins, what concrete steps are you taking to generate new licensing and services revenue in 2025, and how confident are you in closing these deals to support your path to breakeven?
Recent press releases and 8-K filings for SQNS.
- Sequans Communications S.A. has announced an expected Bitcoin treasury strategy, intending to utilize proceeds from new capital raises and existing cash to acquire Bitcoin.
- The company secured $195 million in PIPE Equity and $189 million in Convertible Notes to fund this strategy, following the $200 million sale of its 4G IP to Qualcomm in 2024.
- The company's financial results and the market price of its American Depositary Shares (ADSs) are expected to be significantly influenced by the highly volatile price of Bitcoin.
- Key risks associated with this strategy include Bitcoin price volatility, limited liquidity, potential market manipulation, theft, and regulatory uncertainty.
- $384 M raised via private placements, comprising $195 M in equity and $189 M in secured convertible notes to fund a Bitcoin treasury initiative.
- Equity issuance covers 139.3 M ADSs and warrants at $1.40 per ADS; convertible notes carry 6%–8% interest and convert at $2.10 per ADS.
- The Offering is expected to close around July 1, 2025, subject to shareholder approval at the June 30 general meeting.
- Net proceeds will be used to purchase Bitcoin and for general corporate purposes, with treasury management in partnership with Swan Bitcoin.
- $384 million raised through concurrent private placements to establish a Bitcoin treasury initiative
- Issuance of $195 million in equity securities and $189 million in secured convertible senior notes
- Offering expected to close on or around July 1, 2025, pending shareholder approval at the June 30, 2025 meeting
- Partnership with Swan Bitcoin to provide Bitcoin treasury management solutions
- Sequans Communications was notified on June 5, 2025 that it is no longer in compliance with NYSE Section 802.01B due to an average global market capitalization below $50 million and stockholders’ equity under $50 million.
- The notice does not trigger immediate delisting; the company has 90 days to submit a business plan and up to 9 months to cure the deficiency and regain compliance.
- Its ADSs will continue to trade on the NYSE under the symbol “SQNS” with an added “.BC” designation indicating “below compliance” status during the cure period.
- Sequans is evaluating options and developing a plan to restore compliance with the NYSE continued listing standards.
- Ordinary resolutions to approve the 2024 statutory (profit €57.9 m) and consolidated (profit US$57.6 m) financial statements; allocate net profit to retained earnings; ratify related-party agreements; approve non-executive director compensation; and renew appoint Richard Nottenburg and nominate Jason Cohenour to the board.
- Extraordinary resolutions to acknowledge equity reconstitution above half of share capital at Dec 31 2024 and set an age limit for the board chair.
- Equity issuance authorizations including up to 12 m new shares for stock subscription warrants, options and restricted free shares; €70 m capital increase delegation; and revocation of preemptive rights in favor of specified beneficiaries.
- Share buyback and bylaw amendment delegations for up to 10% of capital cancellation and amendment of article 3 (corporate purpose).
- Q1 2025 Financial Performance: Sequans reported total revenue of $8.1 million , product revenue of $3.5 million , gross profit of $5.2 million , and a net loss of $7.3 million , reflecting adjustments from the Qualcomm transaction and sequential challenges.
- Product Revenue Growth: Product revenue increased by 42% year-over-year, driven by robust momentum in Monarch 2 projects and Calliope 2 pre-production shipments .
- Robust Pipeline: The company reported a potential revenue pipeline of approximately $480 million, including over $250 million in advanced design wins and $230 million in design-in projects .
- Upcoming Product Launches & RF Opportunities: Calliope 2 shipments are ramping up in the second half of 2025 with next-generation chips (Monarch 3 and Calliope 3) planned for late 2026; new RF transceiver chips are expected to generate around $10 million in annual revenue .
- Q2 2025 Guidance: Management provided an outlook with total revenue expected between $8 million and $9 million, highlighting ongoing pipeline opportunities and revenue acceleration .
- Operational Initiatives: The firm is focused on managing cash burn and executing a board refresh aimed at reducing board size to below 7 members .
- Sequans Communications regained compliance with NYSE listing standards on April 3, 2025, after being notified of non-compliance due to low market capitalization, stockholders' equity, and share price over a 30-day period ( , ).
- The company implemented corrective actions including a 1-for-2.5 reverse stock split and a $200 million strategic transaction that boosted stockholders' equity and market cap ( , ).