Summary by Moomoo AI
Sequans Communications announced a $200 million deal to sell its 4G IoT technology to Qualcomm while retaining a perpetual license for ongoing use and development. The transaction is expected to close by October 2024, subject to regulatory approval.For Q2 2024, Sequans reported preliminary revenue of $9.7 million, up 5.4% YoY and 60.5% QoQ. License and services revenue accounted for 75% of total revenue. Gross margin improved to 84.0% from 82.3% in Q2 2023. Operating loss narrowed to $3.7 million from $5.4 million a year ago. Net loss was $0.9 million or $0.01 per diluted ADS.The company expects modest product revenue growth in Q3 and stronger performance in Q4 2024. For 2025, Sequans anticipates higher full-year product revenue compared to 2024 as more products enter mass production.
