Sequans Communications S.A. announced preliminary financial results for the fourth quarter and full year ended December 31, 2024. Q4 2024 total revenue reached $11.0 million, an 8.9% sequential increase and a 130.0% increase year-over-year.
Product revenue in Q4 2024 doubled sequentially to $4.7 million, marking a 19.5% increase compared to Q4 2023. For the full year 2024, total revenue increased 9% to $36.8 million from $33.6 million in 2023.
The company reported a Q4 2024 net loss of $2.7 million, or ($0.11) per diluted ADS, and a full year 2024 IFRS operating profit of $69.5 million, driven by the $152.9 million gain from the Qualcomm transaction. Sequans ended 2024 with $62.1 million in cash and remains committed to achieving operating income breakeven by 2026.
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