Sequans Communications S.A. (NYSE:SQNS) said it has sold its remaining Bitcoin holdings, completing a treasury exit process that followed the redemption of its convertible debt in May 2026.
The Paris-based semiconductor company sold the 314 Bitcoin that remained on its balance sheet as of June 30, 2026.
Following the transaction, Sequans said it no longer holds cryptocurrency on its balance sheet and has no outstanding debt other than government-financed research and development obligations.
The company said the changes will allow it to concentrate its resources on its semiconductor operations and development programs.
Product Revenue Rises More Than 80%
Sequans also provided an update on its semiconductor business, reporting that product revenue increased by more than 80% year over year during the second quarter of 2026.
The company’s six-month product backlog at the end of the quarter was three times the level recorded during the corresponding period a year earlier.
Sequans also secured its first drone design win during the second quarter for its recently launched radio-frequency transceiver product.
The product targets software-defined radio applications across the defense, drone and space markets. A design win indicates selection of the company’s technology for an application but does not by itself establish the timing or value of future revenue.
“By eliminating our convertible debt, monetizing our remaining Bitcoin holdings in a measured and opportunistic manner, and emerging with a very strong balance sheet, we have positioned the Company to focus entirely on executing our long-term semiconductor growth strategy,” said Dr. Georges Karam, CEO of Sequans.
Karam’s comments represent management’s assessment of the company’s financial position and semiconductor strategy following the transactions.
Sequans Continues 5G eRedCap Development
Sequans said development of its 5G eRedCap platform is continuing as the cellular Internet of Things industry transitions from 4G to 5G connectivity.
The company also reported a growing pipeline of potential opportunities for its RF transceiver technology across defense, drone and space applications.
These opportunities represent prospective business rather than confirmed future revenue, and the company did not provide their potential financial value in the information supplied.
Sequans Communications stock price
