Sequans Communications S.A. (SQNS) Income Statement
SQNS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSQNS revenue and net income
Where SQNS's revenue goes
2025Each bar shows an amount and its share of revenue. SQNS kept −376.7% of revenue as net income.
SQNS profit margins
SQNS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −25.9% | −23.3% | −11.7% | −1.8% |
| Gross profit | −46.6% | −29.8% | −8.8% | +1.1% |
| Operating income | −152.1% | — | — | — |
| Net income | −278.5% | — | — | — |
| EPS (diluted) | −132.4% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SQNS quarterly EPS vs estimates
Sequans Communications beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 3, 2026 (estimate $-0.53).
SQNS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.3M | $36.8M | $33.6M | $60.6M | $50.9M | $50.9M | $30.9M | $40.2M | $48.3M | $45.6M |
| Cost of revenue | $12.5M | $9.1M | $9.5M | $17.7M | $23.7M | $27.5M | $18.5M | $24.4M | $27.1M | $25.6M |
| Gross profit | $14.8M | $27.7M | $24.1M | $42.9M | $27.2M | $23.4M | $12.4M | $15.9M | $21.1M | $20.0M |
| Research & development | $29.9M | $28.5M | $26.1M | $26.6M | $26.4M | $30.9M | $23.8M | $32.0M | $25.2M | $26.3M |
| Sales, general & admin | $20.6M | $14.4M | $27.9M | $20.1M | $19.1M | $17.3M | $16.5M | $10.1M | $15.5M | $13.4M |
| Total operating expenses | $51.0M | −$41.8M | $54.0M | $46.7M | $45.5M | $48.2M | $40.3M | $47.4M | $40.7M | $39.7M |
| Operating income | −$36.2M | $69.5M | −$29.8M | −$3.8M | −$18.3M | −$24.7M | −$28.0M | −$31.5M | −$19.5M | −$19.7M |
| Interest income | $1.4M | $850,000 | $176,000 | $68,000 | $47,000 | $26,000 | $50,000 | $71,000 | $60,000 | $48,000 |
| Interest expense | $12.2M | $23.0M | $10.5M | $9.9M | $10.6M | $14.5M | $9.6M | $5.8M | $4.7M | $3.8M |
| Income before taxes | −$101.5M | $61.1M | −$38.3M | −$6.3M | −$19.6M | −$53.6M | −$37.5M | −$37.2M | −$25.9M | −$24.5M |
| Income taxes | $1.3M | $3.5M | $2.7M | $2.7M | $625,000 | $936,000 | −$783,000 | −$968,000 | $300,000 | $284,000 |
| Net income | −$102.8M | $57.6M | −$41.0M | −$9.0M | −$20.3M | −$54.5M | −$36.7M | −$36.2M | −$26.2M | −$24.8M |
| EBITDA | −$81.3M | $148.1M | −$16.6M | $15.7M | $1.5M | −$29.9M | −$20.0M | −$26.1M | −$19.0M | −$14.4M |
| EPS (diluted) | −$7.58 | $23.41 | −$13.50 | −$2.75 | −$13.25 | −$30.00 | −$24.30 | −$33.00 | −$26.00 | −$32.00 |
| Gross margin | 54.3% | 75.3% | 71.8% | 70.8% | 53.4% | 46.1% | 40.1% | 39.5% | 43.8% | 43.8% |
| Operating margin | −132.7% | 188.8% | −88.8% | −6.3% | −36.0% | −48.6% | −90.6% | −78.3% | −40.5% | −43.3% |
| Net margin | −376.7% | 156.3% | −121.9% | −14.9% | −39.8% | −107.1% | −119.0% | −90.0% | −54.2% | −54.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.5M | $6.1M | $7.0M | $4.3M | $8.1M | $8.1M | $11.0M | $10.1M | $9.7M | $6.0M | $6.0M | $7.8M |
| Cost of revenue | $5.0M | $3.8M | $4.3M | $2.5M | $2.9M | $2.9M | $3.6M | $1.8M | $1.5M | $2.2M | $3.3M | $1.1M |
| Gross profit | $2.5M | $2.3M | $2.6M | $1.8M | $5.2M | $5.2M | $7.4M | $8.3M | $8.1M | $3.9M | $2.7M | $6.7M |
| Research & development | $7.5M | $7.4M | $6.6M | $8.0M | $8.8M | $7.2M | $7.5M | $8.6M | $5.8M | $6.6M | $6.6M | $6.0M |
| Sales, general & admin | $4.4M | $4.4M | $4.9M | $6.0M | $5.2M | $4.8M | $3.1M | $5.5M | $6.0M | $5.8M | $2.9M | $8.6M |
| Total operating expenses | $11.9M | $11.8M | $11.5M | $22.2M | $14.0M | $12.0M | $12.6M | −$78.7M | $11.8M | $12.4M | $11.2M | $14.5M |
| Operating income | −$9.5M | −$9.5M | −$8.9M | −$20.4M | −$8.7M | −$6.8M | −$5.2M | $87.0M | −$3.7M | −$8.5M | −$8.5M | −$7.8M |
| Interest expense | — | $3.9M | $5.7M | $6.9M | — | — | — | $9.3M | $10.8M | $3.3M | $3.2M | $2.8M |
| Income before taxes | −$9.6M | −$54.4M | −$86.4M | −$6.5M | −$9.0M | −$7.0M | −$3.5M | $77.0M | −$433,000 | −$11.6M | −$11.6M | −$9.4M |
| Income taxes | $212,000 | $146,530 | $640,525 | $178,000 | $154,000 | $281,000 | −$1.5M | $4.7M | $146,000 | $167,000 | $167,000 | $104,000 |
| Net income | −$9.8M | −$54.5M | −$87.1M | −$6.7M | −$9.1M | −$7.3M | −$2.0M | $72.3M | −$579,000 | −$11.8M | −$11.8M | −$9.6M |
| EBITDA | −$8.1M | −$49.1M | −$80.7M | $2.8M | −$7.2M | −$5.3M | $106.4M | $49.5M | $12.5M | −$6.0M | −$6.2M | −$4.4M |
| EPS (diluted) | −$0.30 | −$1.42 | −$1.19 | −$0.79 | −$3.20 | −$2.40 | −$0.80 | $29.10 | −$4.75 | −$0.14 | −$5.75 | −$3.00 |
| Gross margin | 32.9% | 37.7% | 37.7% | 40.9% | 64.4% | 64.5% | 67.4% | 82.5% | 84.0% | 63.9% | 44.7% | 85.8% |
| Operating margin | −127.1% | −156.6% | −127.9% | −476.6% | −107.2% | −84.7% | −47.0% | 862.8% | −38.3% | −141.6% | −141.6% | −100.8% |
| Net margin | −131.0% | −897.1% | −1,251.6% | −155.0% | −111.9% | −90.1% | −18.2% | 717.1% | −6.0% | −195.6% | −195.6% | −122.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SQNS's financial statements (latest annual report filed May 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SQNS financial results
In fiscal year 2025 (ended December 31, 2025), Sequans Communications reported revenue of $27.3 million, down 25.9% from the year before. It had a net loss of $102.8 million, a net profit margin of −376.7%. Diluted earnings per share came to −$7.58. Over five years revenue grew at an average rate of −11.7% a year.
See the SQNS stock overview for the latest quote and news, or the SQNS chart for price history and technical indicators.
SQNS income statement FAQ
What is Sequans Communications's annual revenue?
Sequans Communications reported total revenue of $27.3 million for fiscal year 2025, which ended on December 31, 2025. That was down 25.9% from $36.8 million the previous year.
Is Sequans Communications profitable?
No. Sequans Communications reported a net loss of $102.8 million in fiscal 2025, a net profit margin of −376.7%; its operating margin was −132.7%.
What is Sequans Communications's gross margin?
Sequans Communications's gross margin was 54.3% in fiscal 2025: for every $100 of revenue, Sequans Communications kept $54 after the direct cost of its products and services.
How much does Sequans Communications spend on research and development?
Sequans Communications spent $29.9 million on research and development in fiscal 2025, 109.8% of revenue.
How fast is Sequans Communications growing?
Revenue grew −11.7% a year on average over the last five fiscal years, from $50.9 million to $27.3 million.
What are Sequans Communications's earnings per share?
Sequans Communications earned $-7.58 per diluted share in fiscal 2025, compared with $23.41 a year earlier.
When will Sequans Communications report its next earnings?
Sequans Communications is expected to report results for the quarter ending September 30, 2026 on November 3, 2026.
When does Sequans Communications's fiscal year end?
Sequans Communications's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on May 11, 2026.