Core Viewpoint - Sequans Communications S.A. has announced a strategic plan to acquire 100,000 Bitcoin by the end of 2030, reflecting its commitment to Bitcoin as a foundational asset for financial resilience and long-term value creation [1][3]. Company Strategy - The company launched its Bitcoin treasury strategy on July 8, 2025, with an initial investment of $384 million through a private placement of convertible debt and equity [2]. - As of August 8, 2025, Sequans holds 3,171 BTC, making it the 22nd largest publicly traded corporate Bitcoin holder globally [2]. - The first phase of the strategy has been successfully completed, with over 3,000 BTC acquired in just one month [3]. Future Plans - Sequans aims to scale its approach to maximize Bitcoin per share and deliver sustained value to shareholders through disciplined accumulation [3]. - The company plans to implement a phased treasury strategy to establish a benchmark for responsible Bitcoin treasury management and long-term value creation [3]. - Throughout 2025, Sequans will continue building its Bitcoin foundation and plans to utilize public capital-raising tools [7]. - In 2026, the company intends to accelerate treasury growth through strategic equity issuance and Bitcoin-backed credit instruments [7]. Financial Management - Sequans will acquire and hold Bitcoin using net proceeds from equity and debt issuances, as well as cash generated from operations and intellectual property monetization [5]. - The company targets to optimize its treasury strategy and capital structure by integrating a diversified mix of Bitcoin-backed financial products by 2030 [7].

RT Sequans (@Sequans)Sequans has purchased an additional 13 bitcoin for ~ $1.5 million at an average price of ~ $117,012 per bitcoin. As of 08/08/2025 we hodl ~ 3,171 bitcoin acquired for ~ 370 million at an average price of ~ $116,709 per bitcoin. $SQNShttps://t.co/CAEnJNzZYl https://t.co/qYxYgPYD2D ...

Core Viewpoint - Sequans Communications has strategically acquired additional bitcoins, increasing its total holdings to 3,171 BTC, reflecting its commitment to Bitcoin as a primary treasury reserve asset [1][2][3]. Group 1: Company Overview - Sequans Communications S.A. is a fabless semiconductor company specializing in wireless 4G/5G cellular technology for IoT and is a pioneer in Bitcoin treasury management [3]. - The company was founded in 2003 and is headquartered in France, with a global presence including offices in the United States, United Kingdom, Switzerland, Israel, Singapore, Finland, Taiwan, and China [5]. Group 2: Bitcoin Acquisition Strategy - As of August 8, 2025, Sequans has made a total net investment in Bitcoin of approximately $370 million, with an average acquisition price of $116,709 per bitcoin [2]. - The recent acquisition of 13 bitcoins for about $1.5 million was made at an average price of $117,012 per bitcoin, inclusive of fees [1]. - The company plans to continue accumulating Bitcoin using net proceeds from equity and debt issuances, as well as cash generated from operations and intellectual property monetization [3]. Group 3: Technological Focus - Sequans develops innovative technologies for AI-connected applications, including secured payment systems, smart mobility, logistics, smart cities, industrial applications, e-health, and smart homes [4]. - The company offers a comprehensive portfolio of 4G/5G solutions designed for IoT, focusing on wireless connectivity, power efficiency, security, and performance [4].

Bitcoin Holdings - Sequans 额外购买了 85 个比特币，花费约 1000 万美元，平均每个比特币价格约为 117,360 美元 [1] - 截至 2025 年 8 月 1 日，Sequans 持有约 3,157 个比特币，总成本约为 3.685 亿美元，平均每个比特币价格约为 116,708 美元 [1] Investment Analysis - Sequans 的比特币投资策略可能反映了公司对加密货币市场前景的看法 [1] - 比特币的平均购买价格表明了 Sequans 在不同时间点对加密货币的估值 [1]

Company Overview - Sequans Communications S.A. is a leading fabless semiconductor company specializing in wireless 4G/5G cellular technology for the Internet of Things (IoT) and is a pioneer in Bitcoin Treasury [3] - The company was founded in 2003 and is headquartered in France, with global operations including offices in the United States, United Kingdom, Switzerland, Israel, Singapore, Finland, Taiwan, and China [5] Bitcoin Acquisition - As of August 1, 2025, Sequans holds a total of 3,157 bitcoins, with a total net investment amounting to approximately $368.5 million, reflecting an average acquisition price of $116,708 per bitcoin [2] - Recently, the company acquired an additional 85 bitcoins for approximately $10.0 million, at an average purchase price of $117,360 per bitcoin [1] Strategic Focus - Sequans views Bitcoin as a long-term investment and intends to strategically accumulate it as its primary treasury reserve asset [3] - The company's approach to acquiring Bitcoin involves using net proceeds from equity and debt issuances, as well as cash generated from operations and intellectual property monetization [3] - The combination of a strategic Bitcoin reserve and a focus on semiconductor innovation is believed to position the company for long-term value creation [4]

[Preliminary Second Quarter 2025 Financial Results](index=1&type=section&id=Preliminary%20Second%20Quarter%202025%20Financial%20Results) Sequans Communications reports preliminary Q2 2025 financial results, highlighting key performance indicators and CEO commentary [Q2 2025 Summary Preliminary Results](index=1&type=section&id=Q2%202025%20Summary%20Preliminary%20Results) Sequans Communications announced preliminary financial results for Q2 2025, showing a slight increase in revenue quarter-over-quarter but a decrease year-over-year. Gross margin declined significantly compared to Q2 2024, and operating and net losses widened both sequentially and annually | (in US$ millions, except share and per share data) | (1) Q2 2025 | (1) Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Revenue | $8.1 | $8.1 | $9.7 | | Gross profit | $5.2 | $5.2 | $8.1 | | Gross margin (%) | 64.4 % | 64.5 % | 84.0 % | | Operating income (loss) | ($8.7) | ($6.8) | ($3.7) | | Net profit (loss) | ($9.1) | ($7.3) | ($0.6) | | Diluted income (loss) per ADS | ($0.36) | ($0.29) | ($0.02) | | (2) Non-IFRS diluted income (loss) per ADS | ($0.32) | ($0.24) | ($0.23) | [Q2 2025 Financial Summary](index=1&type=section&id=Q2%202025%20Financial%20Summary) Sequans' Q2 2025 revenue saw a modest sequential increase driven by product revenue growth, but a notable year-over-year decline due to lower license and services revenue. Gross margin decreased significantly compared to the prior year. Operating and net losses widened, impacted by non-recurring items and a lack of R&D capitalization in 2025. Non-IFRS net loss also increased. Cash and cash equivalents decreased slightly before accounting for recent financing proceeds - Revenue was **$8.1 million**, an increase of **1.1% QoQ** but a decrease of **15.8% YoY**. Product revenue increased by **10.3% QoQ** and **59.0% YoY** to **$3.9 million**, while license and services revenue decreased[4](index=4&type=chunk) - Gross margin was **64.4%**, slightly down from **64.5% QoQ** and significantly down from **84.0% YoY**[5](index=5&type=chunk) - Operating loss was **$8.7 million**, compared to **$6.8 million** in Q1 2025 and **$3.7 million** in Q2 2024, reflecting non-recurring items and no R&D capitalization in 2025 (vs. over **$5 million** capitalized in Q2 2024)[6](index=6&type=chunk) - Net loss was **$9.1 million**, or **($0.36) per diluted ADS**, compared to **$7.3 million**, or **($0.29) per diluted ADS**, in Q1 2025 and **$0.6 million**, or **($0.02) per diluted ADS**, in Q2 2024[7](index=7&type=chunk) - Non-IFRS net loss was **$8.1 million**, or **($0.32) per diluted ADS**, compared to **$6.1 million**, or **($0.24) per diluted ADS**, in Q1 2025 and **$5.8 million**, or **($0.23) per diluted ADS**, in Q2 2024[8](index=8&type=chunk) - Cash and cash equivalents at June 30, 2025, totaled **$41.6 million**, down from **$45.9 million** at March 31, 2025. This excludes **$358.5 million** net proceeds from private placements completed on July 7, 2025[9](index=9&type=chunk) [CEO Commentary](index=1&type=section&id=CEO%20Commentary) Dr. Georges Karam, CEO, highlighted the successful launch of Sequans' Bitcoin Treasury strategy with an initial acquisition of 3,072 Bitcoin, funded by a recent $384 million financing. He emphasized the company's commitment to this strategy for long-term shareholder value and noted continued improvement in the IoT business, targeting breakeven operating income in 2026 - Sequans launched its Bitcoin Treasury strategy, acquiring **3,072 Bitcoin** using net proceeds from a **$384 million** financing[3](index=3&type=chunk) - The company is committed to the Bitcoin Treasury strategy, believing it will deliver meaningful long-term value for shareholders[3](index=3&type=chunk) - The IoT business continues to improve, with a target of achieving breakeven operating income in 2026[3](index=3&type=chunk) [Company Information](index=3&type=section&id=Company%20Information) This section provides an overview of Sequans Communications, its business focus, and the methodology for using non-IFRS financial measures [About Sequans Communications](index=3&type=section&id=About%20Sequans%20Communications) Sequans Communications S.A. is a leading fabless semiconductor company specializing in 4G/5G cellular IoT technology and a pioneer in Bitcoin Treasury. The company strategically accumulates Bitcoin as its primary treasury reserve asset, funded by equity/debt issuances and operational cash. Sequans designs innovative, secure, and scalable technologies for AI-connected applications across various sectors, offering a comprehensive portfolio of 4G/5G IoT solutions. Headquartered in France, Sequans operates globally - Sequans is a leading fabless semiconductor company specializing in 4G/5G cellular IoT technology and a pioneer in Bitcoin Treasury[16](index=16&type=chunk) - The company views Bitcoin as a long-term investment and intends to strategically accumulate it as its primary treasury reserve asset, funded by equity/debt issuances and operational cash[16](index=16&type=chunk) - Sequans develops innovative, secure, and scalable technologies for AI-connected applications (e.g., secured payment, smart mobility, industrial, e-health) and offers a comprehensive portfolio of 4G/5G IoT solutions[17](index=17&type=chunk) [Use of Non-IFRS/non-GAAP Financial Measures](index=3&type=section&id=Use%20of%20Non-IFRS%2Fnon-GAAP%20Financial%20Measures) Sequans uses non-IFRS/non-GAAP financial measures to supplement its IFRS statements, excluding non-cash stock-based compensation and non-cash impacts related to convertible debt and other financings. These measures are intended to facilitate comparisons among companies, with a reconciliation to IFRS provided to address comparability limitations - Non-IFRS measures exclude non-cash stock-based compensation and non-cash impacts of convertible debt extensions, fair-value adjustments, and other financings[15](index=15&type=chunk) - These measures are used to facilitate comparisons among different companies, with a reconciliation to IFRS provided to address potential comparability limitations[15](index=15&type=chunk) [Condensed Financial Statements](index=4&type=section&id=Condensed%20Financial%20Statements) This section presents Sequans Communications' preliminary unaudited condensed consolidated financial statements, including statements of operations, financial position, and cash flow [Preliminary Unaudited Condensed Consolidated Statements of Operations (Quarterly)](index=4&type=section&id=Preliminary%20Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations%20(Quarterly)) The quarterly statement of operations shows a slight sequential increase in total revenue for Q2 2025, driven by product revenue growth, but a year-over-year decline. Gross profit remained stable QoQ but decreased significantly YoY. Operating and net losses widened both sequentially and annually, influenced by increased R&D expenses and non-recurring items | (in thousands of US$, except share and per share amounts) | | | | Three months ended | | | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | | | June 30, | | March 31, | | | | | | (1) 2025 | | (1) 2025 | | June 30, 2024 | | Revenue: | | | | | | | | Product revenue | $ | 3,872 | $ | 3,509 | $ | 2,435 | | License and services revenue | | 4,270 | | 4,545 | | 7,240 | | Total revenue | | 8,142 | | 8,054 | | 9,675 | | Cost of revenue | | (2,900) | | (2,863) | | (1,547) | | Gross profit | | 5,242 | | 5,191 | | 8,128 | | Operating income (expenses) : | | | | | | | | Research and development expense | | (8,779) | | (7,227) | | (5,789) | | Sales and marketing expense | | (2,176) | | (2,337) | | (3,131) | | General and administrative expense | | (3,019) | | (2,451) | | (2,916) | | Total operating income (expenses) | | (13,974) | | (12,015) | | (11,836) | | Operating profit (loss) | | (8,732) | | (6,824) | | (3,708) | | Financial income (expense): | | | | | | | | Interest income (expense), net | | 250 | | 368 | | (10,806) | | Change in fair value of convertible debt derivative | | — | | — | | 39 | | Impact of debt amendment | | — | | — | | 13,952 | | Foreign exchange gain (loss) | | (476) | | (517) | | 90 | | Profit (Loss) before income taxes | | (8,958) | | (6,973) | | (433) | | Income tax expense | | (154) | | (281) | | (146) | | Profit (Loss) | $ | (9,112) | $ | (7,254) | $ | (579) | | Attributable to: | | | | | | | | Shareholders of the parent | | (9,112) | | (7,254) | | (579) | | Minority interests | | — | | — | | — | | Basic income (loss) per ADS | | ($0.36) | | ($0.29) | | ($0.02) | | Diluted income (loss) per ADS | | ($0.36) | | ($0.29) | | ($0.02) | | Weighted average number of ADS used for computing: | | | | | | | | — Basic | | 25,406,045 | | 25,156,570 | | 24,765,063 | | — Diluted | | 25,406,045 | | 25,156,570 | | 24,765,063 | [Preliminary Unaudited Condensed Consolidated Statements of Operations (Six Months)](index=5&type=section&id=Preliminary%20Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations%20(Six%20Months)) For the six months ended June 30, 2025, total revenue increased slightly compared to the prior year, driven by product revenue growth, despite a decrease in license and services revenue. Gross profit declined, and operating loss widened. The net loss for the period increased significantly year-over-year | | | | Six months ended June 30, | | | :--- | :--- | :--- | :--- | :--- | | (in thousands of US$, except share and per share amounts) | | (1) 2025 | | 2024 | | Revenue: | | | | | | Product revenue | $ | 7,381 | $ | 4,903 | | License and services revenue | | 8,815 | | 10,799 | | Total revenue | | 16,196 | | 15,702 | | Cost of revenue | | (5,763) | | (3,720) | | Gross profit | | 10,433 | | 11,982 | | Operating income (expenses) : | | | | | | Research and development expense | | (16,006) | | (12,402) | | Sales and marketing expense | | (4,513) | | (6,003) | | General and administrative expense | | (5,470) | | (5,818) | | Total operating income (expenses) | | (25,989) | | (24,223) | | Operating profit (loss) | | (15,556) | | (12,241) | | Financial income (expense): | | | | | | Interest income (expense), net | | 618 | | (14,124) | | Change in fair value of convertible debt derivative | | — | | 3 | | Impact of debt amendment | | — | | 13,952 | | Foreign exchange gain (loss) | | (993) | | 354 | | Profit (Loss) before income taxes | | (15,931) | | (12,056) | | Income tax expense | | (435) | | (313) | | Profit (Loss) | $ | (16,366) | $ | (12,369) | | Attributable to: | | | | | | Shareholders of the parent | | (16,366) | | (12,369) | | Minority interests | | — | | — | | Basic income (loss) per ADS | | ($0.65) | | ($0.50) | | Diluted income (loss) per ADS | | ($0.65) | | ($0.50) | | Weighted average number of ADS used for computing: | | | | | | — Basic | | 25,282,261 | | 24,705,875 | | — Diluted | | 25,282,261 | | 24,705,875 | [Preliminary Unaudited Condensed Consolidated Statements of Financial Position](index=6&type=section&id=Preliminary%20Unaudited%20Condensed%20Consolidated%20Statements%20of%20Financial%20Position) As of June 30, 2025, total assets decreased compared to December 31, 2024, primarily due to a reduction in current assets, including short-term deposits and cash. Non-current assets increased, mainly driven by intangible assets. Total equity also decreased, while total liabilities saw a slight increase in non-current liabilities and a decrease in current liabilities | (in thousands of US$) | | At June 30, | | At Dec 31, | | :--- | :--- | :--- | :--- | :--- | | | | (1) 2025 | | 2024 | | ASSETS | | | | | | Non-current assets | | | | | | Property, plant and equipment | $ | 4,244 | $ | 4,308 | | Intangible assets | | 13,118 | | 5,641 | | Deposits and other receivables | | 3,653 | | 3,246 | | Other non-current financial assets | | 435 | | 353 | | Total non-current assets | | 21,450 | | 13,548 | | Current assets | | | | | | Inventories | | 2,884 | | 2,874 | | Trade receivables | | 2,693 | | 4,809 | | Contract assets | | 13 | | 122 | | Prepaid expenses | | 1,755 | | 1,410 | | Other receivables | | 13,081 | | 17,492 | | Research tax credit receivable | | 4,815 | | 4,184 | | Short-term deposits | | 23,000 | | 53,000 | | Cash and cash equivalents | | 18,600 | | 9,093 | | Total current assets | | 66,841 | | 92,984 | | Total assets | $ | 88,291 | $ | 106,532 | | EQUITY AND LIABILITIES | | | | | | Equity | | | | | | Issued capital, euro 0.01 nominal value, 255,176,342 shares authorized, issued and outstanding | | | | | | at June 30, 2025 (251,408,922 shares at December 31, 2024) | $ | 2,974 | $ | 2,934 | | Share premium | | 14,473 | | 14,512 | | Other capital reserves | | 76,397 | | 74,504 | | Accumulated deficit | | (52,161) | | (35,795) | | Other components of equity | | (215) | | (796) | | Total equity | | 41,468 | | 55,359 | | Non-current liabilities | | | | | | Government loan | | — | | 616 | | Government research financing | | 4,723 | | 5,669 | | Lease liabilities | | — | | 333 | | Trade payables and other non-current liabilities | | 667 | | — | | Provisions | | 2,147 | | 1,400 | | Deferred tax liabilities | | 190 | | 173 | | Contract liabilities | | 2,641 | | 809 | | Total non-current liabilities | | 10,368 | | 9,000 | | Current liabilities | | | | | | Trade payables | | 9,812 | | 6,106 | | Interest-bearing receivables financing | | — | | 3,742 | | Lease liabilities | | 1,126 | | 1,439 | | Government loan | | 1,837 | | 1,802 | | Government research financing | | 3,250 | | 4,062 | | Contract liabilities | | 5,513 | | 11,021 | | Income tax liabilities - Parent | | 3,761 | | 2,827 | | Other current liabilities and provisions | | 11,156 | | 11,174 | | Total current liabilities | | 36,455 | | 42,173 | | Total equity and liabilities | $ | 88,291 | $ | 106,532 | [Preliminary Unaudited Condensed Consolidated Statements of Cash Flow](index=7&type=section&id=Preliminary%20Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flow) For the six months ended June 30, 2025, net cash flow from operating activities was a significant outflow, a reversal from a net inflow in the prior year. Investing activities generated a substantial net cash inflow, primarily due to a decrease in short-term deposits. Financing activities resulted in a net cash outflow, contrasting with an inflow in the previous year. Overall, there was a net increase in cash and cash equivalents | (in thousands of US$) | | | Six months ended June 30, | | | :--- | :--- | :--- | :--- | :--- | | | | (1) 2025 | | 2024 | | Operating activities | | | | | | Loss before income taxes | $ | (15,931) | $ | (12,056) | | Non-cash adjustment to reconcile income before tax to net cash from (used in) operating | | | | | | activities | | | | | | Depreciation and impairment of property, plant and equipment | | 1,418 | | 1,670 | | Amortization and impairment of intangible assets | | 1,960 | | 2,748 | | Share-based payment expense | | 1,893 | | 2,964 | | Decrease in provision | | (92) | | (219) | | Interest (income) expense, net | | (620) | | 14,124 | | Change in the fair value of convertible debt embedded derivative | | — | | (3) | | Convertible debt amendment | | — | | (13,952) | | Foreign exchange loss (gain) | | (525) | | 216 | | Loss on disposal of intangible and tangible assets | | 12 | | — | | Working capital adjustments | | | | | | Decrease in trade receivables and other receivables | | 3,066 | | 5,209 | | Decrease in inventories | | 48 | | 1,812 | | Increase in research tax credit receivable | | (509) | | (987) | | Increase in trade payables and other liabilities | | 1,790 | | 792 | | Increase (Decrease) in contract liabilities | | (5,146) | | 5,102 | | Increase in government grant advances | | 2,044 | | 3,112 | | Income tax paid | | (586) | | (560) | | Net cash flow from (used in) operating activities | | (11,178) | | 9,972 | | Investing activities | | | | | | Purchase of intangible assets and property, plant and equipment | | (1,109) | | (1,200) | | Capitalized development expenditures | | — | | (14,851) | | Investment in ACP Advanced Circuit Pursuit, net of cash acquired | | (3,586) | | — | | Sale (Purchase) of financial assets | | (151) | | 60 | | Decrease of short-term deposit | | 30,000 | | — | | Interest received | | 990 | | 27 | | Net cash flow from (used in) investing activities | | 26,144 | | (15,964) | | Financing activities | | | | | | Proceeds (repayment of) from interest-bearing receivables financing | | (3,742) | | 577 | | Proceeds from related party loans | | — | | 14,000 | | Proceeds from interest-bearing research project financing | | 1,129 | | 934 | | Payment of lease liabilities | | (749) | | (753) | | Repayment of government loans | | (678) | | (679) | | Repayment of loans | | (420) | | — | | Repayment of interest-bearing research project financing | | (395) | | (266) | | Interest paid | | (637) | | (412) | | Net cash flows from (used in) financing activities | | (5,492) | | 13,401 | | Net increase (decrease) in cash and cash equivalents | | 9,474 | | 7,409 | | Net foreign exchange difference | | 33 | | (6) | | Cash and cash equivalents at January 1 | | 9,093 | | 5,705 | | Cash and cash equivalents at end of the period | | 18,600 | | 13,108 | [Non-IFRS Reconciliation](index=8&type=section&id=Non-IFRS%20Reconciliation) This section provides a reconciliation of Sequans Communications' IFRS financial results to non-IFRS measures for both quarterly and six-month periods [Preliminary Unaudited Reconciliation of Non-IFRS Financial Results (Quarterly)](index=8&type=section&id=Preliminary%20Unaudited%20Reconciliation%20of%20Non-IFRS%20Financial%20Results%20(Quarterly)) The quarterly reconciliation shows that non-IFRS net loss for Q2 2025 was $8.1 million, or ($0.32) per diluted ADS, after adjusting for non-cash stock-based compensation and non-cash interest on convertible debt. This represents a widening of non-IFRS loss compared to both the previous quarter and the prior year | (in thousands of US$, except share and per share amounts) | | | | Three months ended | | | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | | | June 30, | | March 31, | | | | | | (3) 2025 | | 2025 | | June 30, 2024 | | IFRS profit (loss) as reported | $ | (9,112) | $ | (7,254) | $ | (579) | | Add back | | | | | | | | (1) Non-cash stock-based compensation expense according to IFRS 2 | | 879 | | 1,014 | | 1,847 | | Non-cash change in the fair value of convertible debt embedded derivative | | — | | — | | (39) | | (2) Non-cash interest on convertible debt and other financing | | 108 | | 111 | | 6,972 | | Non-IFRS profit (loss) adjusted | $ | (8,125) | $ | (6,129) | $ | (5,751) | | IFRS basic profit (loss) per ADS as reported | | ($0.36) | | ($0.29) | | ($0.02) | | Add back | | | | | | | | (1) Non-cash stock-based compensation expense according to IFRS 2 | | $0.03 | | $0.04 | | $0.07 | | Non-cash change in the fair value of convertible debt embedded derivative | | $0.00 | | $0.00 | | $0.00 | | (2) Non-cash interest on convertible debt and other financing | | $0.01 | | $0.01 | | $0.28 | | Non-IFRS basic profit (loss) per ADS | | ($0.32) | | ($0.24) | | ($0.23) | | IFRS diluted profit (loss) per ADS | | ($0.36) | | ($0.29) | | ($0.02) | | Add back | | | | | | | | (1) Non-cash stock-based compensation expense according to IFRS 2 | | $0.03 | | $0.04 | | $0.07 | | Non-cash change in the fair value of convertible debt embedded derivative | | $0.00 | | $0.00 | | $0.00 | | (2) Non-cash interest on convertible debt and other financing | | $0.01 | | $0.01 | | $0.28 | | Non-IFRS diluted profit (loss) per ADS | | ($0.32) | | ($0.24) | | ($0.23) | [Preliminary Unaudited Reconciliation of Non-IFRS Financial Results (Six Months)](index=9&type=section&id=Preliminary%20Unaudited%20Reconciliation%20of%20Non-IFRS%20Financial%20Results%20(Six%20Months)) For the six months ended June 30, 2025, the non-IFRS net loss was $14.3 million, or ($0.56) per diluted ADS, after adjustments for non-cash items. This indicates a slight improvement in non-IFRS loss compared to the prior year's non-IFRS loss of $14.6 million, or ($0.59) per diluted ADS, despite a higher IFRS loss | (in thousands of US$, except share and per share amounts) | | | Six months ended June 30, | | | :--- | :--- | :--- | :--- | :--- | | | | (3) 2025 | | 2024 | | IFRS profit (loss) as reported | $ | (16,366) | $ | (12,369) | | Add back | | | | | | (1) Non-cash stock-based compensation expense according to IFRS 2 | | 1,893 | | 2,964 | | Non-cash change in the fair value of convertible debt embedded derivative | | — | | (3) | | (2) Non-cash interest on convertible debt and other financing | | 218 | | 8,805 | | Non-cash impact of convertible debt amendment | | — | | (13,952) | | Non-IFRS profit (loss) adjusted | $ | (14,255) | $ | (14,555) | | IFRS basic profit (loss) per ADS as reported | | ($0.65) | | ($0.50) | | Add back | | | | | | (1) Non-cash stock-based compensation expense according to IFRS 2 | | $0.07 | | $0.12 | | Non-cash change in the fair value of convertible debt embedded derivative | | $0.00 | | $0.00 | | (2) Non-cash interest on convertible debt and other financing | | $0.01 | | $0.35 | | Non-cash impact of convertible debt amendment | | $0.00 | | ($0.56) | | Non-IFRS basic profit (loss) per ADS | | ($0.56) | | ($0.59) | | IFRS diluted profit (loss) per ADS | | ($0.65) | | ($0.50) | | Add back | | | | | | (1) Non-cash stock-based compensation expense according to IFRS 2 | | $0.07 | | $0.12 | | Non-cash change in the fair value of convertible debt embedded derivative | | $0.00 | | $0.00 | | (2) Non-cash interest on convertible debt and other financing | | $0.01 | | $0.35 | | Non-cash impact of convertible debt amendment | | $0.00 | | ($0.56) | | Non-IFRS diluted profit (loss) per ADS | | ($0.56) | | ($0.59) | [Other Information](index=2&type=section&id=Other%20Information) This section provides details on the conference call, forward-looking statements, and investor and media relations contacts [Conference Call Details](index=2&type=section&id=Conference%20Call%20Details) Sequans Communications hosted a conference call on Thursday, July 31, 2025, at 8:00 a.m. ET / 14:00 CET to discuss the preliminary Q2 2025 financial results. The live webcast and replay were made available on the company's Investor Relations website, with telephone participation requiring advance registration - Conference call held on Thursday, July 31, 2025, at **8:00 a.m. ET / 14:00 CET**[10](index=10&type=chunk) - Live webcast and replay available on the Sequans Investor Relations website[10](index=10&type=chunk)[12](index=12&type=chunk) - Telephone participants required advance registration to receive dial-in details[11](index=11&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements regarding Sequans' financial condition, operations, business, and strategy for the second half of 2025. These statements are based on assumptions and involve inherent risks and uncertainties, including potential adverse reactions to the Bitcoin treasury initiative and changes in global economic conditions. Readers are cautioned not to place undue reliance on these statements, which are subject to material risks detailed in SEC filings, and Sequans undertakes no obligation to update them - The press release contains forward-looking statements about Sequans' financial condition, results of operations, business, and strategy for the second half of 2025[12](index=12&type=chunk) - These statements are based on assumptions and involve known and unknown risks and uncertainties, such as potential adverse reactions to the Bitcoin treasury initiative and changes in global environments[12](index=12&type=chunk)[13](index=13&type=chunk) - Readers are cautioned not to place undue reliance on these statements, which speak only as of the announcement date, and Sequans undertakes no obligation to update them except as required by law[12](index=12&type=chunk)[13](index=13&type=chunk) [Investor and Media Relations](index=3&type=section&id=Investor%20and%20Media%20Relations) Contact information for Sequans' investor relations in the USA and media relations in France is provided for inquiries - Investor relations contact: David Hanover/Gerrick Johnson, KCSA Strategic Communications (USA), **+1 212.682.6300**, ir@sequans.com[20](index=20&type=chunk) - Media relations contact: Linda Bouvet (France), **+33 170721600**, media@sequans.com[20](index=20&type=chunk)

Sequans Communications Preliminary Second Quarter 2025 Financial Results July 31, 2025 6:00 AM EDT | Source: Sequans Communications Paris, France--(Newsfile Corp. - July 31, 2025) - Sequans Communications S.A. (NYSE: SQNS) ("Sequans" or the "Company"), a pioneer in Bitcoin Treasury and a leading provider of 5G/4G cellular IoT semiconductor solutions, today announced preliminary financial results for the second quarter ended June 30, 2025. Second Quarter 2025 Summary Preliminary Results Table (*): | (in US$ ...

JUST IN: Sequans Communications has just bought another $88.5 million BitcoinSequans now holds 3,072 Bitcoin worth $365.5 million https://t.co/dTbe7ZR5bI ...

RT SEQUANS (@Sequans)Sequans has purchased an additional 755 bitcoin for ~$88.5 million at an average price of ~$117,296 per bitcoin. As of 07/25/2025 we hodl ~3072 bitcoin acquired for ~$358.5 million at an average price of ~$116,690 per bitcoin. $SQNShttps://t.co/R7z2yF5fAR https://t.co/I6615oJCIh ...

Company Overview - Sequans Communications S.A. is a fabless semiconductor company that has adopted Bitcoin as its primary treasury reserve asset, viewing it as a long-term store of value [3][5] - The company specializes in wireless 4G/5G cellular technology for the Internet of Things (IoT), offering a comprehensive portfolio of solutions including integrated circuits, modules, software, and protocol stacks [4] Bitcoin Acquisition - As of July 25, 2025, Sequans holds a total of 3,072 bitcoins, with a total net investment of approximately $358.5 million, reflecting an average acquisition price of $116,690 per bitcoin [2] - The recent acquisition of 755 bitcoins for approximately $88.5 million was made at an average price of $117,296 per bitcoin, inclusive of fees [1] Strategic Focus - The company intends to strategically accumulate Bitcoin using net proceeds from equity and debt issuances, as well as cash generated from operations and intellectual property monetization [3] - Sequans believes that the combination of a strategic Bitcoin reserve and a focus on semiconductor innovation positions it for long-term value creation [5]