Sequans Posts $9.09 Million Q3 Revenue, $6.2 Million Realized Net Gain on Bitcoin Sales

For the quarter ended Sept. 30, 2026, Sequans Communications booked $9.09 million in preliminary, unaudited revenue, a 182.8% annual increase that coincided with a realized gain from its Bitcoin exit.

Revenue was $7.459 million in the second quarter and $3.214 million in the third quarter of 2025. The latest figure represented 21.9% sequential growth. Product sales were more than four times their year-earlier level.

Sequans’ operating loss narrowed to $1.0 million, compared with $7.2 million in the second quarter and $24.4 million in the year-earlier quarter. Within that operating result, the company booked a $6.2 million realized net gain on Bitcoin (BTC) disposals.

The company’s IFRS net loss was $1.478 million, or $0.10 per diluted American depositary share (ADS). Its non-IFRS net loss was $604,000, or $0.04 per diluted ADS. In the second quarter, the IFRS net loss was $9.8 million, or $0.65 per diluted share.

Sequans sold the 314 BTC it held at June 30 during the third quarter and had no Bitcoin holdings at Sept. 30. Cash, cash equivalents and short-term deposits stood at $39.7 million at quarter-end, compared with $21 million at June 30. The sale completed the company’s September Bitcoin treasury exit.

Sequans makes semiconductor products that include cellular internet of things chips and software-defined radio technology. CEO Georges Karam described “a growing backlog that now extends into the second half of 2027.” The company’s earlier Bitcoin treasury strategy had held more than 3,200 BTC before it began winding down its position.

Sequans scheduled a call on its results for 8 a.m. ET (13:00 UTC) Nov. 3.