Sequans Communications S.A.: Sequans Communications Announces First Quarter 2021 Financial Results
First Quarter 2021 Summary Results Table:
(in US$ millions, except share and per share data)
Q1 2021
(1)
34,664,779
(1) See Use of Non-IFRS/non-GAAP Financial Measures disclosure on page 3
"First quarter revenue grew by 40% year-over-year driven by significant gains in Massive IoT. Sequans continued to see strong momentum in our product revenue pipeline and design wins, particularly from solid demand in Massive IoT," said Georges Karam, CEO of Sequans. "On a sequential basis, our seasonally slower first quarter revenue was also impacted by supply chain constraints that delayed approximately $2 million of shipments, and the anticipated decline in demand for the modem we supply for the Verizon Jetpack. We continue to execute our long-term growth strategy on three fronts continued growth in Massive IoT and CBRS IoT, expansion of our go-to-market channels, and ongoing development of our 5G product line. We remain committed to delivering our first 5G NR solution in 2022 and entering the next growth phase for our company."