Sequans Communications S.A. Q1 FY2025 Earnings Call
· Earnings call transcript and AI-powered summary
- Revenue: $8.1 million in Q1 2025, up 34% year-over-year (YoY) from $6.1 million in Q1 2024; down 27% sequentially from $11.1 million in Q4 2024. This was slightly above the high end of company guidance.
- Product Revenue: $3.5 million, up 42% YoY; down from Q4 2024 due to a large one-time customer shipment in Q4 that was not repeated.
- Licensing and Services Revenue: $4.5 million, up from $3.6 million in Q1 2024; down from $6.3 million in Q4 2024 due to revenue recognition timing related to the Qualcomm 5G TORUS license.
- Gross Margin: 64.5% in Q1 2025 vs. 63.9% in Q1 2024 and 67.4% in Q4 2024, influenced by revenue mix.
- Product Gross Margin: 31%, lower than 35.5% in Q4 due to higher portion of module sales and initial higher-cost Calliope 2 shipments.
- Operating Loss (IFRS): $6.8 million, improved YoY from $8.5 million in Q1 2024; slightly worse sequentially from $5.6 million in Q4 2024.
- Net Loss (Non-IFRS): $6.1 million vs. $8.8 million in Q1 2024; Q4 2024 saw a reduced loss of $1.8 million due to tax benefits.
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