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PARIS - Sequans Communications S.A. (NYSE:SQNS), whose stock has surged over 214% in the past week according to InvestingPro data, announced Monday it has purchased an additional 683 bitcoin for approximately $79 million at an average price of about $116,213 per bitcoin, including fees.
Following this acquisition, the semiconductor company, currently valued at $642 million market cap, now holds a total of 1,053 bitcoins acquired for approximately $120 million, with an average purchase price of around $113,893 per bitcoin including fees, according to a press release statement.
The latest purchase comes just one month after Sequans, a provider of cellular IoT semiconductors, adopted bitcoin as a primary treasury reserve asset in June 2025. The company, which maintains a healthy balance sheet with more cash than debt according to InvestingPro analysis, indicated it is using proceeds from equity and debt financing, along with cash flows from operations, to accumulate bitcoin as part of its long-term financial strategy.
Sequans Communications, founded in 2003, specializes in wireless cellular technology for the Internet of Things (IoT). The company designs and develops technologies for AI-connected applications and offers solutions including integrated circuits, modules, software, and protocol stacks.
The firm maintains its headquarters in France and operates offices across multiple countries including the United States, United Kingdom, Switzerland, Israel, Hong Kong, Singapore, Finland, Taiwan, and China.
In other recent news, Sequans Communications reported mixed financial results for the first quarter of 2025. The company achieved revenues of $8.1 million, a 33.6% increase from the same period last year, although this marked a 27.1% decline from the previous quarter. Sequans posted a net loss of $7.3 million, an improvement compared to the $11.8 million loss in Q1 2024. Additionally, Sequans has completed a $384 million private placement to fund its new bitcoin treasury initiative, which includes $195 million in equity securities and $189 million in convertible secured debentures. The company plans to partner with Swan Bitcoin for this strategy, with Northland Capital Markets and B. Riley Securities serving as lead placement agents. Sequans also received a non-compliance notice from the NYSE due to its market capitalization falling below $50 million, but it plans to address this issue within a nine-month cure period. Despite these challenges, Sequans remains focused on its core IoT business, with expectations of revenue growth in the coming quarters.
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