Sequans Communications S.A. Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Sequans Communications Q2 2026 Earnings Summary

Key Financial Highlights (Comparisons to Prior Periods)

  • Revenue: $7.5 million, +23.2% vs. Q1 2026; -8.4% vs. Q2 2025 (prior year included significant Qualcomm license revenue). Excluding that impact, +84.2% YoY. Product sales (vast majority of revenue) +39% sequentially and nearly doubled YoY.
  • Gross Margin: 32.9%, down from 37.7% in Q1 2026 and 64.4% in Q2 2025, due to higher mix of lower-margin product revenue vs. high-margin licensing/services.
  • Operating Expenses: $11.9 million (flat vs. $11.8 million in Q1 2026); down from ~$13 million in Q2 2025. Cost reduction initiatives ongoing, targeting lower levels in H2 2026.
  • Operating Loss: $7.2 million (vs. $50.5 million in Q1 2026; $8.5 million in Q2 2025). Included $3 million noncash Bitcoin impairment (down from $29.3 million prior quarter) and $5.3 million realized Bitcoin gain.
  • Net Loss: $9.6 million ($0.65 per diluted ADS) vs. $76.2 million ($5.23 per ADS) in Q1 2026 and $9 million ($3.53 per ADS) in Q2 2025. Non-IFRS net loss: $4 million ($0.27 per ADS) vs. $20.6 million in Q1 2026 and $8 million in Q2 2025.

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Operator: Welcome to the Second Quarter 2026 Sequans Earnings Conference Call. My name is Jonathan, and I will be your operator for today's call. [Operator Instructions]. Please note that this conference is being recorded. I would now like to turn the call over to David Hanover, Investor Relations. David, you may begin. David Hanover: Thank you, operator, and thank you to everyone participating in today's call. Joining me on the call from Sequans Communications are Georges Karam, CEO and Chairman; and Norman Brodt, CFO. Before turning the call over to Georges, I would like to remind our participants of the following important information on behalf of Sequans. First, Sequans issued an earnings press release this morning, and you'll find a copy of the release on the company's website at www.sequans.com under the Newsroom section. Second, this conference call contains projections and other forward-looking statements regarding future events or our future financial performance and potential financing sources. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our business strategy, cost optimization plans, strategic options, the ability to enter into new strategic agreements, expectations for sales, our ability to convert our pipeline to revenue and our objectives for future operations are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Section 27

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