Financial Performance - Q1 2023 revenue was $11.9 million, a decrease of 25.2% from Q4 2022 and a decrease of 14.3% from Q1 2022[3] - Operating loss for Q1 2023 was $4.0 million, compared to an operating profit of $1.0 million in Q4 2022[7] - Net loss for Q1 2023 was $5.0 million, or ($0.10) per diluted ADS, consistent with Q4 2022[8] - The company reported a net loss of $4,374,000 for the three months ended March 31, 2023, compared to a profit of $2,123,000 for the same period in 2022[20] - Non-IFRS adjusted loss for the first quarter of 2023 was $4,153,000, compared to a loss of $1,845,000 for the same period in 2022[21] Cash and Liquidity - Cash and cash equivalents totaled $5.3 million as of March 31, 2023, down from $10.7 million at the end of 2022[11] - Cash and cash equivalents decreased from $9,803,000 at March 31, 2022, to $5,344,000 at March 31, 2023, representing a decline of approximately 45.5%[20] - The company experienced a net cash flow from operating activities of $3,492,000 in Q1 2023, compared to a negative cash flow of $2,696,000 in Q1 2022[20] Assets and Liabilities - Total assets decreased from $98,755,000 at December 31, 2022, to $92,710,000 at March 31, 2023, a decline of approximately 6.3%[19] - Total current liabilities decreased slightly from $36,834,000 at December 31, 2022, to $35,944,000 at March 31, 2023, a decrease of approximately 2.4%[19] - The total equity of the company turned negative, decreasing from $2,104,000 at December 31, 2022, to $(1,262,000) at March 31, 2023[19] Research and Development - Research and development expenses increased to $7.5 million in Q1 2023, compared to $6.4 million in Q1 2022[18] - The company incurred a non-cash stock-based compensation expense of $1,781,000 in Q1 2023, compared to $1,315,000 in Q1 2022, reflecting an increase of approximately 35.3%[21] Future Outlook - The company anticipates revenue in Q2 2023 to be between $9 million and $11 million, with a gross margin around 65%[5] - The design win pipeline has a potential total 3-year life revenue exceeding $750 million[3] - Sequans is progressing towards sampling its 5G Taurus chipset later in 2023 and is optimistic about finalizing 5G IP licensing agreements by year-end[3] Other Financial Metrics - Gross margin improved to 78.5% in Q1 2023, compared to 75.3% in Q4 2022 and 68.1% in Q1 2022[6] - Trade receivables decreased significantly from $8,494,000 at December 31, 2022, to $3,645,000 at March 31, 2023, a reduction of approximately 57.0%[19] - The company reported an increase in research tax credit receivable from $4,515,000 at December 31, 2022, to $5,855,000 at March 31, 2023, an increase of approximately 29.6%[19] - The company achieved a $20 million private placement in April 2023, enhancing its financial position[3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ¨ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURI ...

Strategic Options and Transactions - The company announced the formation of a special committee to explore strategic options, receiving interest from multiple parties for potential transactions[6]. - The company has engaged an investment bank to assist in evaluating and pursuing strategic alternatives[6]. - The company is currently discussing multiple IP licensing opportunities to strengthen its position for strategic alternatives[6]. - There is no assurance that current discussions will lead to new IP licensing arrangements or strategic transactions[8]. Financial Activities - A private placement of ordinary shares (ADSs) is expected to raise $10-20 million from existing institutional accredited investors[7]. - The price per ADS for the private placement will be determined based on the closing price on April 3, 2023, or the average closing price for the five trading days prior[7]. - The private placement is anticipated to close on or about April 5, 2023[7]. - The company intends to reinforce its balance sheet to negotiate from a position of strength[7]. Market Environment and Risks - The company is in a competitive and rapidly changing environment, with new risks emerging over time[8]. - The forward-looking statements reflect the company's current beliefs and expectations, subject to risks and uncertainties[8].

Call Start: 08:00 January 1, 0000 8:52 AM ET Sequans Communications S.A. (NYSE:SQNS) Q4 2022 Earnings Conference Call February 14, 2023, 8:00 am ET Company Participants Kim Rogers - MD, Hayden IR Georges Karam - Chairman & CEO Deborah Choate - CFO Conference Call Participants Scott Searle - ROTH Craig Ellis - B. Riley Nick Doyle - Needham & Company Operator Greetings, and welcome to the Sequans Communications S.A. Fourth Quarter 2022 Financial Earnings Call. At this time, all participants are in a listen-on ...

Massive IoT Business – Product & End Markets Low Power + Low Cost Solutions Broadband IoT Massive IoT Source: ABI Research, Techno Systems Research and Sequans' estimates ©2023 Sequans Communications 6 ©2023 Sequans Communications 4 We are Capitalizing on Two Major Technology Trends Leveraging a strong track record of execution in 4G for the emerging 5G market | --- | --- | --- | --- | --- | --- | |--------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | ...

Financial Data and Key Metrics Changes - Revenue for Q3 2022 was $16.5 million, representing a 39% increase year-over-year and a 16.2% increase sequentially [42] - Gross margin improved to 77.6%, up from 49.2% in Q3 2021 and 60.7% in Q2 2022, driven by higher licensing revenue [44] - Non-IFRS net income for Q3 was $424,000, or $0.01 per diluted ADS, compared to a non-IFRS net loss of $1.2 million in Q2 2022 and a net loss of $5.3 million in Q3 2021 [49] Business Line Data and Key Metrics Changes - Massive IoT product sales accounted for nearly all total product revenue in Q3, while broadband IoT revenue increased due to the new strategic 5G licensing deal [42][43] - Cat-M product family grew 62% year-to-date despite delays, while Cat 1 revenue was down due to shipment timing but expected to return to normal in Q4 [20][21] - The pipeline for design wins and advanced design ins is close to $700 million, with almost half being secured design wins [23] Market Data and Key Metrics Changes - Metering remains the strongest segment for design wins, followed by asset tracking, smart home, and ehealth applications [26] - The addressable market for Cat 1, excluding China, is projected to exceed $400 million by 2025, with expectations of capturing significant market share [22] Company Strategy and Development Direction - The company is focused on expanding its Massive IoT business and leveraging its technology leadership in Cat M and Cat 1 categories [27][35] - The new 5G strategic deal is expected to fund ongoing development and generate future royalty revenue, with potential for additional partnerships [34][75] - The company aims to increase market share in metering from around 10% today to close to 50% in the next three years [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future growth potential, citing a strong pipeline and the successful reception of new products like Calliope 2 [38][39] - The company anticipates that supply chain issues will improve, allowing for better product availability in 2023 [64][86] - Management expects to achieve operating cash flow breakeven in 2023, supported by the new 5G deal [93] Other Important Information - Cash and short-term deposits totaled $5.8 million at the end of Q3, down from $16.8 million at the end of Q2 [52] - The company received $13.5 million net of withholding taxes from its strategic partner in October as the first payment under a three-year agreement [52] Q&A Session Summary Question: Supply chain normalization outlook - Management indicated that while supply chain issues are improving, they are not fully normalized yet, and the company is building inventory to meet future demand [62][63] Question: Updates on the design win pipeline - The design win pipeline is currently at $700 million, with $350 million in secured design wins and the rest in advanced projects with high conversion potential [66][67] Question: Future revenue dynamics and growth expectations - Management reiterated expectations for 50% year-on-year growth from 2023 to 2025, with a focus on moving projects from design to production [91][92]

Sequans Communications S.A. (NYSE:SQNS) Q2 2022 Earnings Conference Call August 2, 2022 8:00 AM ET Company Participants Kimberly Rogers - Investor Relations Georges Karam - President and Chief Executive Officer Deborah Choate - Chief Financial Officer Conference Call Participants Scott Searle - ROTH Capital Partners Craig Ellis - B. Riley Securities Michael Walkley - Canaccord Genuity Operator Greetings, and welcome to Sequans Communications S.A. Second Quarter 2022 Financial Results Call. At this time all ...

| --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Sequans Investor Presentation | | | | | | | August 2022 | | | | | | | Dr. Georges Karam, CEO Deborah Choate, CFO | | | | | | Safe Harbor This presentation contains projections and other forward-looking statements regarding future events, including the expected execution of a new strategic agreement, and our future ...

NEWS Sequans Communications Announces Second Quarter 2022 Financial Results PARIS - August 2, 2022 - Sequans Communications S.A. (NYSE: SQNS), a leading developer and provider of 5G/4G solutions for IoT devices, today announced financial results for the second quarter ended June 30, 2022. Second Quarter 2022 Summary Results Table: | (in US$ millions, except share and per share data) | Q2 2022 | Q1 2022 | Q2 2021 | | --- | --- | --- | --- | | Revenue | $14.2 | $13.9 | $12.9 | | Gross profit | 8.6 | 9.5 | 7.3 ...

| --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Sequans Investor | | | | | | | Presentation | | | | | | | May 2022 | | | | | | | Dr. Georges Karam, CEO Deborah Choate, CFO | | | | | | Safe Harbor This presentation contains projections and other forward-looking statements regarding future events, including strategic agreements, or our future financ ...