Sequans reports Q1 2026 revenue decline and $54.3M net loss amid IoT growth and Bitcoin asset impairments

Sequans Communications announced preliminary Q1 2026 results showing revenue of $6.1 million, down 24.8% year-over-year, mainly due to lower license and services income. Despite a 45% increase in product sales, the company posted a net loss of $54.3 million, impacted by significant impairments and losses on Bitcoin investments used as collateral for convertible debt. CEO Georges Karam highlighted strong momentum in IoT semiconductor products and 5G developments, expecting sequential growth and a move toward cash-flow break-even. The company is focusing on simplifying its balance sheet and advancing its 5G roadmap as it prepares for growth in IoT connectivity.