Sequans Communications S.A. (SQNS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed May 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SQNS SEC filings page.
Sequans Communications S.A. (SQNS) reported $33.6M in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Sequans combines reported losses with persistent operating cash outflows and a sharply weakened short-term balance-sheet position.
Earnings quality is strained: FY2025's net loss of$41.0M came alongside operating cash flow of-$7.3M , while FY2024's reported net income of$57.6M also accompanied negative operating cash flow of-$19.5M . That repeated mismatch indicates reported profit has not translated into cash generation across the latest two periods.
Liquidity tightened materially: the current ratio fell from 2.2x in FY2024 to 0.3x in FY2025, while equity moved from
The capital structure also changed substantially: reported shares outstanding rose from 251.4M in FY2024 to 1.6B in FY2025, while long-term debt remained comparatively small at
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Sequans Communications S.A.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Sequans Communications S.A. held $5.7M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $7.3M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Sequans Communications S.A. scores 28/100 among other emerging companies.
Sequans Communications S.A. had 1.60B shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Sequans Communications S.A. scores 8/100 among other emerging companies.
Not available for Sequans Communications S.A., and counted as zero in the overall score.
Not available for Sequans Communications S.A., and counted as zero in the overall score.
Sequans Communications S.A.'s operations used $7.3M of cash in fiscal year 2025, against $19.5M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Sequans Communications S.A. scores 45/100 among other emerging companies.
Sequans Communications S.A.'s cash, cash equivalents and investments came to $5.7M at the end of fiscal year 2025, against $115.2M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Sequans Communications S.A. scores 10/100 among other emerging companies.
Sequans Communications S.A. passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Sequans Communications S.A. reported a net loss of $41.0M while operations used $7.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q3 2025.
Cash & Balance Sheet
Sequans Communications S.A. held $9.1M in cash against $333K in long-term debt as of Q3 2025, with $42.2M of liabilities due within a year.
Not reported for Q3 2025.
Not reported for Q3 2025.
Margins & Returns
None of these metrics is reported for Q3 2025.
Capital Allocation
None of these metrics is reported for Q3 2025.
SQNS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
SQNS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-K | Q3'2410-K | Q3'2310-K | Q3'2210-K | Q1'2210-Q | Q3'2110-K | Q2'2110-Q | Q3'2010-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $106.5M-2.4% | $109.2M+10.5% | $98.8M+10.3% | $89.6M+2.8% | $103.2M | $87.2M+37.7% | $89.2M | $63.3M+1.2% |
| Current Assets | $93.0M+152.0% | $36.9M-8.8% | $40.4M-1.1% | $40.9M-20.9% | $59.8M | $51.7M+39.6% | $55.1M | $37.0M-14.2% |
| Cash & Equivalents | $9.1M+59.4% | $5.7M+0.6% | $5.7M+17.3% | $4.8M-36.2% | $3.8M | $7.6M-46.3% | $10.4M | $14.1M+16.6% |
| Inventory | $2.9M-54.6% | $6.3M-32.5% | $9.4M+45.9% | $6.4M+3.3% | $5.2M | $6.2M-6.6% | $5.8M | $6.7M-19.2% |
| Total Liabilities | $51.2M-55.6% | $115.2M+19.2% | $96.7M-15.1% | $113.9M-8.1% | $123.2M | $124.0M+34.0% | $135.3M | $92.5M+37.6% |
| Current Liabilities | $42.2M-60.9% | $107.9M+192.8% | $36.8M-24.4% | $48.7M-22.1% | $55.0M | $62.5M+64.3% | $55.9M | $38.1M+40.0% |
| Non-Current Liabilities | $9.0M+21.8% | $7.4M-87.7% | $59.8M-8.2% | $65.1M+6.0% | $68.1M | $61.4M+12.8% | $79.4M | $54.5M+36.0% |
| Long-Term Debt | $333K-79.8% | $1.6M-27.8% | $2.3M-32.5% | $3.4M-29.2% | $3.9M | $4.8M+48.6% | $4.0M | $3.2M |
| Total Equity | $55.4M+1011.9% | -$6.1M-388.5% | $2.1M+108.7% | -$24.3M+34.0% | -$20.0M | -$36.8M-25.9% | -$46.1M | -$29.2M-522.8% |
| Retained Earnings | -$35.8M+61.7% | -$93.4M-43.4% | -$65.1M+83.0% | -$383.6M-5.6% | -$375.9M | -$363.3M-17.7% | -$351.9M | -$308.8M-13.5% |
Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments, Goodwill.
SQNS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
SQNS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$6.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.34), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Sequans Communications S.A. SQNS | FY2025 | $33.6M | -$41.0M | N/A | $40.7M | 15/100 |
| Everspin Technologies, Inc MRAM | FY2025 | $55.2M | -$586K | -1.1% | $400.6M | 48/100 |
| Nano Labs Ltd NA | FY2025 | $3.8M | $19.3M | N/A | $46.4M | 21/100 |
| Intchains Group Limited ICG | FY2025 | $31.6M | -$6.8M | -21.5% | $67.9M | 52/100 |
| Magnachip Semiconductor Corp. MX | FY2025 | $178.9M | -$29.7M | -16.6% | $232.6M | 46/100 |
| Valens Semiconductor Ltd. VLN | FY2025 | $70.6M | -$31.6M | -44.7% | $187.3M | 59/100 |
Where Sequans Communications S.A. Ranks
Frequently Asked Questions
What is Sequans Communications S.A.'s annual revenue?
Sequans Communications S.A. (SQNS) reported $33.6M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Sequans Communications S.A. profitable?
No, Sequans Communications S.A. (SQNS) reported a net income of -$41.0M in fiscal year 2025.
How much debt does Sequans Communications S.A. have?
As of fiscal year 2025, Sequans Communications S.A. (SQNS) had $5.7M in cash and equivalents against $1.6M in long-term debt.
What is Sequans Communications S.A.'s operating cash flow?
Sequans Communications S.A. (SQNS) recorded an outflow of $7.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Sequans Communications S.A.'s total assets?
Sequans Communications S.A. (SQNS) had $109.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Sequans Communications S.A.'s current ratio?
Sequans Communications S.A. (SQNS) had a current ratio of 0.34 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Sequans Communications S.A.'s return on assets (ROA)?
Sequans Communications S.A. (SQNS) had a return on assets of -37.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sequans Communications S.A.'s P/E ratio?
Sequans Communications S.A. (SQNS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $40.7M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sequans Communications S.A.'s price-to-sales ratio?
Sequans Communications S.A. (SQNS) trades at 1.2x sales, its market capitalization divided by revenue of $33.6M revenue, FY2025. The market capitalization is $40.7M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Sequans Communications S.A.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Sequans Communications S.A. (SQNS) held $5.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $7.3M over that year. Dividing the one by the other, the reported balance equals about 9 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Sequans Communications S.A.'s debt-to-equity ratio negative or not reported?
Sequans Communications S.A. (SQNS) has negative shareholder equity of -$6.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Sequans Communications S.A.'s Piotroski F-Score?
Sequans Communications S.A. (SQNS) has a Piotroski F-Score of 1 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Sequans Communications S.A.'s earnings high quality?
Sequans Communications S.A. (SQNS) reported a net loss of $41.0M while operations used $7.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Sequans Communications S.A.?
Sequans Communications S.A. (SQNS) scores 15 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.