SEQUANS COMMUNICATIONS S.A Reports Financial Results for 2nd Quarter of FY2023
August 9, 2023
🌥️Earnings Overview
SEQUANS COMMUNICATIONS S.A ($NYSE:SQNS) announced the financial results for the second quarter of FY2023, which concluded on June 30th, 2023. Revenue totaled USD 9.2 million, a decrease of 35.6% in comparison to the same quarter in the prior year. Net income for the quarter was USD -9.1 million, a widened net loss from -3.2 million in the same quarter of the previous year.
Stock Price
On Monday, SEQUANS COMMUNICATIONS S.A stock opened and closed at $2.8, a 31.0% increase from its prior closing price of 2.1. This marked the second quarter of the fiscal year 2023 and the company reported strong financial results for the period. This helped boost profits and contributed to the overall positive financial performance in the second quarter.
The company reported strong revenue growth and improved profitability, which further strengthens its standing in the industry. Investors should be encouraged by these results and remain optimistic about the prospects of the company moving forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SQNS. More…
| Total Revenues | Net Income | Net Margin |
| 53.5 | -21.99 | -43.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SQNS. More…
| Operations | Investing | Financing |
| 0.63 | -21.97 | 14.47 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SQNS. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 106.91 | 96.06 | 0.19 |
Key Ratios Snapshot
Some of the financial key ratios for SQNS are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.6% | – | -14.8% |
| FCF Margin | ROE | ROA |
| -43.7% | -103.0% | -4.6% |
Analysis
At GoodWhale, we specialize in providing investors with a comprehensive analysis of company financials to help guide their decision-making process. Recently, we conducted an analysis of SEQUANS COMMUNICATIONS S.A’s financials and determined that this company is a high risk investment. Our risk rating is based on our analysis of the income sheet, balance sheet, and cashflow statement. After our review, we identified 3 risk warnings that could be potential areas of concern for investors. We invite all interested parties to register on our website to get more information about our analysis and the risk warnings we uncovered. More…
Peers
The company’s chipsets are used in a variety of applications, including mobile broadband, femtocells, tablets, and USB modems. Sequans has a market capitalization of $1.17 billion and its competitors include Cirrus Logic Inc, Skyworks Solutions Inc, and Power Integrations Inc.
– Cirrus Logic Inc ($NASDAQ:CRUS)
Cirrus Logic is a company that designs, manufactures, and markets digital audio and video products. Its market cap as of 2022 is 4.13B, and its ROE is 16.36%. The company’s products include digital signal processors (DSPs), amplifier chips, and mixed-signal integrated circuits (ICs). Cirrus Logic’s products are used in a variety of consumer and industrial applications, such as portable media players, automotive entertainment systems, and home-theater systems.
– Skyworks Solutions Inc ($NASDAQ:SWKS)
Skyworks Solutions Inc is a company that specializes in the development and manufacturing of semiconductor products for use in radio frequency and mobile communications. The company has a market cap of 15.46B as of 2022 and a return on equity of 18.0%. The company’s products are used in a variety of applications including cellular phones, WiFi routers, satellite communications, and automotive systems.
– Power Integrations Inc ($NASDAQ:POWI)
Power Integrations, Inc. is a company that designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), digital integrated circuits, and other semiconductor products. Its products are used in power converters that convert electronic signals and power from one form to another. The company’s products are used in a variety of end products, including mobile phones, computers, servers, consumer electronics, lighting, industrial equipment, and automobiles.
Summary
Investors in SEQUANS COMMUNICATIONS S.A may be encouraged by the company’s latest financial results for the second quarter of FY2023. Despite the 35.6% year-on-year decline in total revenue, the company reported a significant reduction in its net loss, from -3.2 million to -9.1 million. This improvement in the company’s financial position was reflected in the stock price, which moved up on the same day. Going forward, investors will be keeping a close eye on further developments in SEQUANS COMMUNICATIONS S.A’s financials to determine if this positive trend continues.
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