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.

2.43 0.10 −3.95%
Market cap
$38.6M
P/E
0.0×
Fwd P/E
−0.7×
Dividend yield
—
F-score
2/9
Altman Z
−2.38
Beneish M
−0.76
Dividend safety
n/a

Insider Decisions trades per month

Total buys 1.19
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — 6 — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 38.58
Revenue 23.64
Net Income (178.29)
Free Cash Flow (40.86)
Net Debt (19.74)
Current Ratio 1.39
Debt/Equity 0.03 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (0.69) (negative: loss-making)
P/S ratio 1.54
P/B ratio 0.87
Past 5Y EPS Growth —
This Y EPS Growth 48.74% (at or above 15%: strong)
Next Y EPS Growth 61.36% (at or above 15%: strong)
Next Y revenue growth 33.45% (at or above 10%: strong)
Next 5Y EPS Growth 66.89% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 7.96%
10-year low 10-year high
P/B against its own 10 years 15.85%
10-year low 10-year high
EV/Sales against its own 10 years 5.41%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 6 62 13 21
Receivables 23 26 15 19
Inventory 6 3 4 4
Other 0 0 0 0
37 93 35 46
2023 2024 2025 Q'26
Payables 16 6 10 10
ST’ Debt 71 6 68 —
Other 19 26 23 20
108 42 105 33

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%

Revenue $m

Mar Jun Sep Dec Year
’26 6 7 — — —
’25 8 8 4 6 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) — — —
’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) — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 (3.73) (0.65) — — —
’25 (0.29) (3.60) (0.48) (8.31) (11.81)
’24 (4.75) (0.25) 26.10 (1.10) 20.10
’23 (2.50) (4.00) (4.00) (7.00) (7.28)
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 153.00 168.00 75.00 42.00 72.75 101.25 57.00 46.50 8.50 4.44

Analyst estimates 2026–2028

Powerpack
High 300.00 475.00 261.00 130.00 207.25 239.25 145.00 85.50 74.25 58.30
People
People Employees 213 238 227 208 243 262 285 264 155 171
Revenue/emp, $m 0.21 0.20 0.18 0.15 0.21 0.19 0.21 0.13 0.24 0.15
Income, $m
Income, $m Revenue 46 48 40 31 51 51 61 34 37 26
Gross margin, % 43.84 43.80 39.47 40.11 46.06 53.44 70.82 71.81 75.31 53.61
EBT (25) (26) (37) (37) (54) (20) (6) (38) 61 (108)
EBT margin, % (53.76) (53.58) (92.40) (121.44) (105.23) (38.60) (10.34) (113.98) 165.90 (411.95)
Net income (25) (26) (37) (37) (54) (20) (6) (38) 61 (108)
Depreciation 5 6 6 8 10 11 12 12 64 6
Per share, $
Per share, $ Revenue 71.43 62.14 42.92 32.49 45.29 34.68 32.80 5.97 14.83 3.03
Earnings (39.00) (34.00) (39.00) (38.00) (48.50) (13.75) (5.00) (7.28) 23.00 (11.81)
Cash flow (24.43) (36.86) (24.36) 5.36 (17.25) (5.80) (1.00) (1.29) (7.86) (3.05)
Capex (8.45) (8.27) (9.82) (9.63) (12.25) (19.71) (12.28) (5.25) 58.75 (0.26)
Free cash flow (32.88) (45.12) (34.18) (4.27) (29.50) (25.51) (13.27) (6.54) 50.89 (3.30)
Book value 13.89 5.34 (5.35) (31.11) (32.74) (16.57) 1.14 (1.08) 22.30 14.72
Shares, m 1 1 1 1 1 1 2 6 2 9
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.52 0.00
P/S 2.69 3.12 1.82 2.31 3.33 3.42 2.37 11.76 2.35 1.48
P/B 13.83 36.33 0.00 0.00 0.00 0.00 68.21 0.00 1.57 0.31
EV/Sales 2.77 3.57 2.58 3.48 4.26 4.49 3.13 13.75 0.84 3.57
EV/FCF (5.41) (4.91) (3.24) (26.47) (6.54) (6.10) (7.73) (12.55) 0.25 (2.55)
Cash, $m
Cash, $m Operating cash flow (16) (29) (23) 5 (19) (9) (2) (7) (20) (26)
Capex (5) (6) (9) (9) (14) (29) (23) (30) 146 (2)
Free cash flow (21) (35) (32) (4) (33) (37) (25) (37) 126 (29)
Balance, $m
Balance, $m Working capital 19 12 16 (1) (11) (8) 4 (71) 51 (70)
Total debt 24 24 43 50 66 59 57 72 6 69
Net debt 4 22 31 36 47 55 46 67 (56) 56
Shareholders’ equity 9 4 (5) (30) (37) (24) 2 (6) 55 128
Returns, %
Returns, % ROA (43.51) (42.84) (60.56) (58.30) (72.46) (22.93) (9.57) (39.43) 53.38 (62.42)
ROIC (97.10) (47.53) (77.11) (270.32) (147.90) (37.91) (4.99) (30.77) 0.00 (38.07)
ROE (651.26) (402.21) 8,317.80 212.24 164.29 66.31 81.15 2,066.55 233.59 (119.41)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
MX Magnachip Semiconductor Corp. $104.6M — (loss-making) — (loss-making) −6.13% (below 0%: shrinking) n/m +84.00% (above 0%: growing) 19.35% (22.32%) Compare
IPWR Ideal Power Inc. $52.8M — (loss-making) — (loss-making) +7.41% (above 0%: growing) n/m −1.57% (below 0%: shrinking) 31.03% (62,467.24%) Compare
WQEY WISeQey Corp $41.1M — (loss-making) — +55.93% (above 0%: growing) n/m −92.17% (below 0%: shrinking) 52.94% 0.00% Compare
NA Nano Labs Ltd. Sponsored ADR $40.9M — — — n/m +46.67% (above 0%: growing) 100.00% 100.00% Compare
SQNS Sequans Communications S.A. $38.6M — (loss-making) — (loss-making) −8.39% (below 0%: shrinking) n/m −1,233.27% (below 0%: shrinking) 32.90% (96.68%)
ICG Intchains Group Limited Unsponsored ADR $38.2M — (loss-making) — (loss-making) −38.03% (below 0%: shrinking) n/m +49.54% (above 0%: growing) (137.17%) (198.09%) Compare
PXLW Pixelworks, Inc. $33.0M 0.5× — (loss-making) −59.75% (below 0%: shrinking) n/m +63.54% (above 0%: growing) 60.94% (5,256.25%) Compare
LEDS SemiLEDS Corporation $16.5M — (loss-making) — (loss-making) −48.59% (below 0%: shrinking) +500.00% (above 0%: growing) +455.26% (above 0%: growing) 27.11% 15.62% Compare
MOBX Mobix Labs, Inc. $14.8M — (loss-making) — −66.43% (below 0%: shrinking) n/m −40.77% (below 0%: shrinking) 12.93% (932.07%) Compare
Median of peers $39.6M — — −38.03% — +48.11% 29.07% (110.20%)

All 67 Semiconductors stocks →

Sequans Communications S.A. (SQNS) key facts

  • Concern: Sequans Communications S.A.’s revenue for fiscal 2025 (year ended December 2025) was $26.3 million, down 28.5% from fiscal 2024.
  • Sequans Communications S.A. (SQNS) is a Semiconductors company in the Technology sector, traded in the US as an ADR.
  • As of October 16, 2026, SQNS traded at $2.43, a market capitalization of $38.6 million.
  • Return on equity was −119.4% and debt-to-equity 0.03.
  • Its Piotroski F-score is 2 out of 9 and its Altman Z-score is −2.38 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Sequans Communications S.A. (SQNS) Latest News

11 Aug

Impact 4 · transcript

3 Jul

stockrow.com/SQNS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com