Sequans offers a comprehensive portfolio of 4G/5G solutions, including LTE-M/NB-IoT, 4G LTE Cat 1bis, and 5G NR RedCap and eRedCap platforms, all purpose-built for IoT. Sequans and Qualcomm dominate the Cat 1 Bis market, and for 5G E Redcap, Sequans is well-positioned to lead the transition from 4G to 5G with expected customer sampling in mid-2027. The company has a >$300M three-year design-win pipeline and expects cash-flow break-even by end of 2026.
Cyborg Score Rationale
Q4 2025 revenue was $7.0M (up 72.6% QoQ, down 37.0% YoY); full-year revenue was $27.2M, reflecting early-stage growth challenges. The company regained NYSE compliance in January 2026 after falling below listing standards in June 2025, which was remedied via a $195 million equity private placement closing in July 2025. The company has a strong design win pipeline with 44% of projects already in production, contributing to a potential $132 million in three-year revenue from production stage projects.
Top Insights
Showcasing 5G eRedCap semiconductors at Mobile World Congress 2026 with new Monarch 3 and Calliope 3 chips designed for 5G NR eRedCap migration, plus Iris RF transceiver and expanding IP portfolio
Q4 2025 net loss was $87.1M driven by Bitcoin impairments and realized losses, while holding 2,139 BTC valued at $187.1M, with cash at $13.4M
Targeting approximately $40 million to $45 million in total global revenue for 2026
MultiTech selected Sequans as technology partner for embedded cellular modem platforms starting with Calliope 2 LTE Cat 1bis, expanding to 5G, with partnerships showcased at CES 2026