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Sequans Communications S.A.

SQNS Technology Semiconductors

Sequans Communications S.A.’s revenue for fiscal 2025 (year ended December 2025) was $26.3 million, down 28.5% from fiscal 2024.

Revenue
+182.8%
EPS
+91.8%
Free cash flow
+66.1%
Total debt
−99.2%

Quarter to September 2026, against a year earlier

2.66 0.20 +8.13%
Market cap
$37.5M
P/E
0.0×
Fwd P/E
−0.5×
Dividend yield
—
F-score
2/9
Altman Z
−2.38
Beneish M
−0.76
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.19
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — 6 — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 37.52
Revenue ttm 29.52
Net income ttm (163.11)
Free cash flow ttm (32.15)
Net debt Q (38.47)
Valuation
P/E 0.00
Forward P/E (0.47) (negative: loss-making)
Price / sales 1.26
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.91
Financial health
Current ratio Q 1.94 (at or above 1.5: strong)
Debt / equity Q 0.03 (at or below 0.5: strong)
Interest coverage Q (2.54)
Growth
Revenue growth Q +182.83% (above 0%: growing)
Operating income growth Q +95.73% (above 0%: growing)
EPS, this year +50.13% (at or above 15%: strong)
EPS, next year A +56.33% (at or above 15%: strong)
Revenue, next year A +34.43% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +66.89% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.4×, against a ten-year median of 3.9×; over the ten years it ranged from −0.8× in 2024 to 12.6× in 2025.
P/S against its own 10 years 5.57%
10-year low 10-year high
P/B against its own 10 years 16.79%
10-year low 10-year high
EV/Sales against its own 10 years 3.05%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 6 62 13 40
Receivables 23 26 15 20
Inventory 6 3 4 4
Other 0 0 0 0
37 93 35 68
2023 2024 2025 Q'26
Payables 16 6 10 11
ST’ Debt 71 6 68 —
Other 19 26 23 20
108 42 105 35

Compound Annual Growth %

10y 5y 3y
Sales (2.09%) (12.36%) (24.24%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 0.00% 292.97%

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate −0.54 Actual −0.04

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 −0.49 −1.19 Miss by 0.70
Mar 2026 −0.45 −1.42 Miss by 0.97
Jun 2026 −0.47 −0.27 Beat by 0.20
Sep 2026 −0.54 −0.04 Beat by 0.50
Dec 2026 −0.40 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (3.73) (0.65) (0.10) — —
’25 (0.29) (3.60) (1.19) (7.59) (11.81)
’24 (4.75) (0.25) 26.10 (0.74) 20.10
’23 (2.50) (4.00) (4.00) (7.07) (18.20)
’22 1.00 (1.75) (1.50) (2.50) (5.00)
’21 (8.25) (1.00) 0.12 (5.25) (13.75)
’20 (15.97) (17.50) (7.50) (9.00) (48.50)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 6 7 9 — —
’25 8 8 3 7 26
’24 6 10 10 11 37
’23 12 9 8 5 34
’22 14 14 17 16 61
’21 12 13 12 14 51
’20 9 12 14 16 51
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (15) (8) (5) — —
’25 (9) (3) (10) (4) (26)
’24 (3) 13 (2) (28) (20)
’23 3 (9) 1 (3) (7)
’22 (3) (5) (3) 9 (2)
’21 9 (3) (11) (4) (9)
’20 (8) (1) (9) (1) (19)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 27 (54) (5) — —
’25 (10) (4) (14) (1) (29)
’24 (14) 8 162 (30) 126
’23 (3) (16) (6) (12) (37)
’22 (8) (12) (7) 3 (25)
’21 3 (13) (18) (10) (37)
’20 (10) (5) (13) (5) (33)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 46 48 40 31 51 51 61 34 37 26 30 (5.9%) 35 57 86 +48.4%
Gross margin, % 43.84 43.80 39.47 40.11 46.06 53.44 70.82 71.81 75.31 53.61 35.93 +9.8 pt
EBT (25) (26) (37) (37) (54) (20) (6) (38) 61 (108) (141) +18.0%
EBT margin, % (53.76) (53.58) (92.40) (121.44) (105.23) (38.60) (10.34) (113.98) 165.90 (411.95) (478.39) (358.2) pt
Net income (25) (26) (37) (37) (54) (20) (6) (38) 61 (108) (163) +18.0%
Per share, $
Per share, $ Revenue 71.43 62.14 42.92 32.49 45.29 34.68 32.80 14.93 14.83 3.03 1.97 (29.6%)
Earnings (39.00) (34.00) (39.00) (38.00) (48.50) (13.75) (5.00) (18.20) 23.00 (11.81) (12.07) (12.4%)
Cash flow (24.43) (36.86) (24.36) 5.36 (17.25) (5.80) (1.00) (3.22) (7.86) (3.05) (2.14) (20.7%)
Capex (8.45) (8.27) (9.82) (9.63) (12.25) (19.71) (12.28) (13.13) 58.75 (0.26) 0.00 (32.1%)
Free cash flow (32.88) (45.12) (34.18) (4.27) (29.50) (25.51) (13.27) (16.36) 50.89 (3.30) (2.14) (22.5%)
Book value 13.89 5.34 (5.35) (31.11) (32.74) (16.57) 1.14 (2.70) 22.30 14.72 2.71 +0.7%
Shares, m 1 1 1 1 1 1 2 2 2 9 15 +33.6%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.52 0.00 0.00 0.2
P/S 2.69 3.12 1.82 2.31 3.33 3.42 2.37 5.11 2.35 2.64 1.26 2.9
P/B 13.83 36.33 0.00 0.00 0.00 0.00 68.21 0.00 1.57 0.55 0.91 12.0
EV/Sales 2.77 3.57 2.58 3.48 4.26 4.49 3.13 7.09 0.84 4.74 1.39 3.7
EV/FCF (5.41) (4.91) (3.24) (26.47) (6.54) (6.10) (7.73) (6.47) 0.25 (3.38) (1.05) (7.0)
Cash, $m
Cash, $m Operating cash flow (16) (29) (23) 5 (19) (9) (2) (7) (20) (26) (32) +6.0%
Capex (5) (6) (9) (9) (14) (29) (23) (30) 146 (2) (4) (9.3%)
Free cash flow (21) (35) (32) (4) (33) (37) (25) (37) 126 (29) (32) +3.5%
Balance, $m
Balance, $m Working capital 19 12 16 (1) (11) (8) 4 (71) 51 (70) 33 n/m
Net debt 4 22 31 36 47 55 46 67 (56) 56 (38) +34.7%
Shareholders’ equity 9 4 (5) (30) (37) (24) 2 (6) 55 128 41 +34.5%
Returns, %
Returns, % ROA (43.51) (42.84) (60.56) (58.30) (72.46) (22.93) (9.57) (39.43) 53.38 (62.42) (54.99) (18.9) pt
ROIC (97.10) (47.53) (77.11) (270.32) (147.90) (37.91) (4.99) (30.77) 0.00 (38.07) (3,780.73) +59.0 pt
ROE (651.26) (402.21) 8,317.80 212.24 164.29 66.31 81.15 2,066.55 233.59 (119.41) (106.62) +531.9 pt
People
People Employees 213 238 227 208 243 262 285 264 155 171 — (2.4%)
Revenue/emp, $m 0.21 0.20 0.18 0.15 0.21 0.19 0.21 0.13 0.24 0.15 — (3.6%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Sequans Communications S.A. vs peers in Semiconductors (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GSIT GSI Technology, Inc. $123.0M — (loss-making) — (loss-making) +0.46% (above 0%: growing) n/m −143.28% (below 0%: shrinking) 53.37% (85.31%) Compare
GCTS GCT Semiconductor Holding, Inc. $95.7M — (loss-making) — (loss-making) −17.85% (below 0%: shrinking) n/m −93.34% (below 0%: shrinking) (23.27%) (763.65%) Compare
MX Magnachip Semiconductor Corp. $78.0M — (loss-making) — (loss-making) −6.13% (below 0%: shrinking) n/m +84.00% (above 0%: growing) 19.35% (22.32%) Compare
SQNS Sequans Communications S.A. $37.5M — (loss-making) — (loss-making) +182.83% (above 0%: growing) n/m +66.06% (above 0%: growing) 33.03% (11.47%)
IPWR Ideal Power Inc. $34.5M — (loss-making) — (loss-making) +7.41% (above 0%: growing) n/m −1.57% (below 0%: shrinking) 31.03% (62,467.24%) Compare
NA Nano Labs Ltd. Sponsored ADR $30.8M — — — n/m +46.67% (above 0%: growing) 100.00% 100.00% Compare
PXLW Pixelworks, Inc. $29.5M 0.5× — (loss-making) −99.22% (below 0%: shrinking) n/m +63.54% (above 0%: growing) 60.94% (5,256.25%) Compare
LEDS SemiLEDS Corporation $18.4M — (loss-making) — (loss-making) −48.59% (below 0%: shrinking) +500.00% (above 0%: growing) +455.26% (above 0%: growing) 27.11% 15.62% Compare
FABC Fabric.AI, Inc. $10.7M — (loss-making) — (loss-making) −96.13% (below 0%: shrinking) n/m −79.60% (below 0%: shrinking) 0.00% 0.00% Compare
Median of peers $32.7M — — −17.85% — +22.55% 29.07% (53.81%)

All 68 Semiconductors stocks →

Sequans Communications S.A. (SQNS) Latest News

4 Nov

Impact 4 · · GuruFocus.com
Impact 3 · · The Motley Fool
Impact 3 · · decrypt.co
Impact 3 · · cryptonews.com

3 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com
Impact 3 · · InvestorsHub
Impact 3 · · TMX Newsfile

20 Oct

Impact 3 · · TMX Newsfile

9 Oct

Impact 3 · · Simply Wall St.

24 Sep

Impact 4 · · InvestorsHub

23 Sep

Impact 4 · · TMX Newsfile

11 Aug

Impact 4 · · The Motley Fool transcript

31 Jul

Impact 3 ·

23 May

Impact 3 · · Simply Wall St.

6 May

Impact 4 · · The Motley Fool transcript

3 May

Impact 3 · · Simply Wall St.

20 Apr

Impact 3 ·

25 Feb

Impact 4 · · TMX Newsfile

11 Feb

Impact 4 · · MarketBeat transcript

10 Feb

Impact 4 · · GuruFocus.com
Impact 4 · · Associated Press Finance earnings

9 Feb

Impact 3 · · MT Newswires

21 Jan

Impact 3 · · MT Newswires

11 Dec

Impact 3 · · MT NewswiresMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT Newswires

5 Dec

Impact 3 · · MT Newswires

29 Nov

Impact 4 · · Simply Wall St.

20 Nov

Impact 3 · · MT Newswires

15 Nov

Impact 3 · · Simply Wall St.

5 Nov

Impact 3 · · beincrypto.com
stockrow.com/SQNS · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com