Sequans Revenue Jumps 183% as Bitcoin Exit Completes
The chipmaker reported preliminary third-quarter revenue of $9.09 million and holds no Bitcoin after selling its treasury.
Updated on Nov. 3, 2026 in Corporate Finance
Sequans Communications posted preliminary, unaudited revenue of $9.09 million for the quarter ended September 30, 2026, up 182.8% from the year-earlier period. The company sold its 314 BTC holdings during the quarter and ended with no Bitcoin on its balance sheet.
Why it matters
The results show the company's operating revenue growing sharply while its Bitcoin treasury strategy has been fully unwound, shifting the focus of its financial profile back to core operations. Investors tracking the company will now look to its cash position and product sales as the primary indicators of performance.
Preliminary, unaudited third-quarter revenue of $9.09 million compares with $3.214 million a year earlier and $7.459 million in the second quarter, while the operating loss narrowed to $1.0 million from $7.2 million. Final audited figures have not been released, and the extraction does not detail the drivers beyond product sales, which more than quadrupled year over year.
The players
Sequans Communications
Sequans Communications is a semiconductor company that has held Bitcoin on its balance sheet as part of a treasury strategy.
The details
Sequans sold the 314 BTC it held at June 30 during the third quarter, generating a $6.2 million realized net gain that was included in its operating result. The company ended the quarter with $39.7 million in cash, cash equivalents and short-term deposits, and reported a non-IFRS net loss of $604,000, or $0.04 per diluted ADS.
Timeline
Quarter ended September 30, 2026: Preliminary revenue period closed.
June 30, 2026: Sequans held 314 BTC at this date.
September 2026: Bitcoin treasury exit completed.
November 3, 2026, 8 a.m. ET: Scheduled earnings call on the results.
Market Dynamics
Sequans' full exit from its Bitcoin treasury marks a reversal of the balance-sheet crypto holdings that some public companies adopted, leaving the company's reported results to depend on operating revenue and cash. The shift places the company's product sales growth against the earlier mark-to-market swings that Bitcoin disposals had introduced into its operating line.
For shareholders, the results separate operating performance from Bitcoin price movements, since the company no longer holds crypto whose value changes flow through its financials. Readers tracking the stock should weigh the cash position of $39.7 million and the narrowing operating loss when assessing the company's near-term trajectory.
The takeaway
The company's revenue growth and narrowed operating loss now stand on their own, with the Bitcoin exit removing crypto price swings from its reported results. Investors should watch the audited figures and the November earnings call for confirmation of the trend.
What happens next
Sequans is scheduled to hold its earnings call on November 3, 2026, at 8 a.m. ET to discuss the results.
Further reading
For more on how companies manage balance-sheet assets, see the Corporate Finance section.
Source note: This article includes information reported by TokenPost.
