Sequans Completes Bitcoin Treasury Exit and Emerges with a Solid Financial Foundation

Paris, France--(Newsfile Corp. - September 24, 2026) - Sequans Communications S.A. (NYSE: SQNS) ("Sequans" or the "Company"), a leading provider of 5G/4G cellular IoT and software-defined radio (SDR) semiconductor solutions, today announced that it has completed its Bitcoin treasury exit following the sale of its remaining Bitcoin holdings, emerging with a strengthened balance sheet and a sharpened focus on executing its semiconductor growth strategy.

Highlights:

• Bitcoin Treasury Strategy Fully Concluded: Sequans has sold the remaining 314 Bitcoin held on its balance sheet as of June 30, 2026, completing the treasury exit initially outlined with the May 2026 redemption of its convertible debt.
• Strengthened Balance Sheet: With no outstanding debt outside of that tied to government-financed R&D projects and no cryptocurrency holdings on the balance sheet, Sequans now holds a strong cash position, reflecting a simpler capital structure and clearer financial profile for investors.
• Pure-Play Semiconductor Focus: The Company's full strategic and financial attention returns to scaling its cellular IoT and SDR semiconductor business.
• Product Revenue Acceleration: Q2 2026 product revenue grew more than 80% year-over-year, with the Company's six-month product backlog at quarter-end tripling year-over-year, reflecting accelerating design-win conversion and improved visibility into future growth.
• 5G eRedCap on Track: Sequans continues to execute on its 5G eRedCap platform, positioning the Company to be ready as the cellular IoT industry transitions from 4G to 5G.
• SDR Momentum in Defense, Drones, and Space: Sequans is seeing a growing pipeline of opportunities for its recently launched RF transceiver in software-defined radio applications, with increasing interest from customers across defense, drone, and space markets.