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. In the quarter to June 2026, revenue fell 8.39%, EPS grew 81.9%, free cash flow fell 1,233.3% and total debt rose 1,297.7%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
Follow SQNS
Sequans Communications S.A. (SQNS) Piotroski F-score
Sequans Communications S.A.'s Piotroski F-score for fiscal 2025 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, down from 7 in fiscal 2024.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 2 | (5.00) |
| FY2024 | 7 | 4.00 |
| FY2023 | 3 | (3.00) |
| FY2022 | 6 | 1.00 |
| FY2021 | 5 | 2.00 |
| FY2020 | 3 | (1.00) |
| FY2019 | 4 | 2.00 |
| FY2018 | 2 | 0.00 |
| FY2017 | 2 | (3.00) |
| FY2016 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (62.42%) | 53.38% | Fail | 0 |
| Positive operating cash flow | (26.42m) | (19.51m) | Fail | 0 |
| Rising return on assets | (62.42%) | 53.38% | Fail | 0 |
| Cash flow above net income | 82.86m | (77.08m) | Pass | 1 |
| Falling long-term leverage | 0.01 | 0.01 | Pass | 1 |
| Rising current ratio | 0.34 | 2.20 | Fail | 0 |
| No new shares issued | 8,674,000 | 2,483,000 | Fail | 0 |
| Rising gross margin | 53.61% | 75.31% | Fail | 0 |
| Rising asset turnover | 0.15 | 0.34 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 2 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| LEDS SemiLEDS Corporation compare | 6 |
| PXLW Pixelworks, Inc. compare | 4 |
| WQEY WISeQey Corp compare | 4 |
| NA Nano Labs Ltd. Sponsored ADR compare | 4 |
| MX Magnachip Semiconductor Corp. compare | 3 |
| IPWR Ideal Power Inc. compare | 2 |
| SQNS Sequans Communications S.A. | 2 |
| ICG Intchains Group Limited Unsponsored ADR compare | 1 |
| MOBX Mobix Labs, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover