Sequans Communications S.A. Q3 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: $9.1 million, up 21.9% sequentially from $7.5 million in Q2 2026 and up 183% year-over-year from $3.2 million in Q3 2025. Product sales were more than 4x higher YoY. First nine months 2026 revenue totaled $22.6 million (vs. $19.4 million in same period 2025, excluding $8 million non-recurring Qualcomm revenue in 2025).
  • Gross Margin: 33%, compared to 32.9% in Q2 2026 and 25.3% in Q3 2025.
  • Operating Expenses: $10.3 million, down 14% sequentially from $11.9 million in Q2 2026 and down 25% YoY from $13.7 million in Q3 2025.
  • Operating Loss: $1 million (includes $6.2 million Bitcoin sale gain), improved from $7.2 million loss in Q2 2026 and $24.4 million loss in Q3 2025.
  • Net Loss: $1.5 million or $0.10 per diluted ADS, improved from $9.8 million or $0.65 per ADS in Q2 2026 and $16.6 million or $1.19 per ADS in Q3 2025. Non-IFRS net loss was $0.6 million or $0.04 per ADS (vs. $3 million or $0.24 in Q2 2026).
  • Cash Position: $39.8 million in cash, equivalents, and short-term deposits (up $18.7 million from $21 million at end of Q2 2026). No Bitcoin holdings and no debt other than $5.2 million in government R&D funding (actual reimbursement ~$3 million over five years). Bitcoin treasury strategy fully exited with sale of remaining 314 BTC at average ~$78,500 each for $24.6 million proceeds.
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Operator: Hello, and welcome to the third quarter 2026 Sequans earnings conference call. My name is Towanda, and I will be your operator for today's call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star one one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star one one again. Please note that this conference is being recorded. I will now turn the call over to David Hanover, Investor Relations. David, you may begin. Moderator: Thank you, operator. 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
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