What Sequans Communications does

Sequans Communications S.A. is a fabless semiconductor company headquartered in Colombes, France, founded in 2003 by Dr. Georges Karam, who continues to serve as chairman and CEO. The company designs cellular IoT chipsets, modules, and RF transceivers supporting LTE-M, NB-IoT, LTE Cat 1bis, LTE Cat 4, and the emerging 5G NR RedCap/eRedCap standards. Its portfolio is organized into the Monarch platform (LPWA, ~1 Mbps), Calliope (Cat 1bis, ~10 Mbps), Cassiopeia (Cat 4, ~100 Mbps), and the Iris RF transceiver family acquired through ACP in January 2025 for software-defined radio applications. Next-generation Monarch 3 and Calliope 3 silicon, supporting 5G NR eRedCap, are sampling in 2026 to enable a footprint-compatible migration from 4G LTE to 5G.

The company monetizes primarily through B2B hardware sales of chips and modules to module vendors, device makers, and system integrators via global distributors including AVNET, Digikey, Mouser, Richardson RFPD, EBV, Steliau, and Novotech, using quote-based pricing. In September 2025, Sequans expanded its business model to license silicon and software IP (RF transceiver IP, 5G RedCap/eRedCap L1 modem IP, L2/L3 protocol stack IP) and to provide engineering, certification, and lab services. Customers span smart metering and utilities (Itron, Ubiik), asset tracking and telematics (Geotab, Coyote), healthcare (Withings), industrial IoT (Honeywell, OKI), defense and aerospace (Lockheed Martin, Iris-based SDR platforms), and consumer IoT (Thales eSIM), with carrier validation from AT&T, NTT DOCOMO, KDDI, T-Mobile, Verizon, and others.

Sequans is publicly listed on the NYSE under ticker SQNS and operates offices in France, the United States, the United Kingdom, Israel, Switzerland, China, Taiwan, Finland, and Hong Kong. Following a 2025 detour into a $384 million Bitcoin treasury initiative, management fully redeemed convertible debt, abandoned the BTC strategy in May 2026, and refocused on the IoT semiconductor core business, targeting cash-flow break-even by year-end 2026.

Name

Sequans Communications

Legal name

Sequans Communications S.A.

Website

https://sequans.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

Sequans Communications S.A. is a French fabless semiconductor company that designs cellular IoT chips, modules, and RF transceivers for LTE-M, NB-IoT, Cat 1bis, and 5G NR eRedCap, licensing its IP and selling to module vendors, device makers, and system integrators across smart metering, asset tracking, healthcare, and defense.

Ownership category

akta.pro rank

Product category

Cellular IoT Semiconductors

NAICS

Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing (334220)

SIC

Radio & Tv Broadcasting & Communications Equipment (3663)

akta.pro primary industry

Mobile & Wireless Connectivity SoCs (Modem/Wi‑Fi/Bluetooth/GNSS) (HDAHABAA)

akta.pro secondary industry

RF Transceivers & RFIC SoCs (Cellular/Wi‑Fi/Bluetooth) (HDAHAMAE)

Keywords

• Cellular IoT semiconductors
• LTE-M chips
• NB-IoT modules
• RF transceivers
• Cat 1bis chipsets

Headquarters

HQ city

Colombes

HQ country

France

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Semiconductor Products: Sale of cellular IoT chips and modules including Monarch (LTE-M/NB-IoT), Calliope (Cat 1bis), and Cassiopeia (Cat 4) platforms for IoT applications
2. IP Licensing: Licensing of proprietary RF transceiver, modem/SoC IP, and 5G protocol stack technology to semiconductor companies and module vendors
3. Engineering Services: Expert services for integration, customization, optimization, custom SoC design, certification support, and lab services

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels8 records

Core offering

Sequans Communications is a fabless semiconductor company that designs, develops, and sells cellular IoT semiconductor solutions spanning LTE-M, NB-IoT, LTE Cat 1bis, LTE Cat 4, and 5G NR RedCap/eRedCap chips and modules, alongside RF transceiver ICs for software-defined radio applications. The company also licenses silicon IP (RF transceivers, modem/SoC IP) and 5G protocol stack software, and provides engineering services for integration, certification, and custom SoC design.

Product overview

Sequans Communications is a fabless semiconductor company offering a comprehensive portfolio of 5G/4G cellular IoT solutions organized into distinct product lines. The Monarch platform family handles low-speed LPWA applications (~1 Mbps) using LTE-M and NB-IoT technologies, available as Monarch 2 (current generation) and Monarch 3 (next-generation with 5G NR eRedCap). The Calliope platform serves mid-speed applications (~10 Mbps) with LTE Cat 1bis, including Calliope 2 (current) and Calliope 3 (next-generation with 5G eRedCap). The Iris RF transceiver family provides software-defined radio solutions for defense, aerospace, drones, and 5G systems. Sequans also licenses silicon and software IP including RF transceivers, modem/SoC IP, and 5G protocol stacks. Products are offered as chips, modules, evaluation kits, and intellectual property for IoT applications spanning smart metering, healthcare, asset tracking, telematics, security, industrial IoT, and defense.

Differentiator

Problem solved

Functional benefit

Brands

• Monarch: LTE-M & NB-IoT chip platform for low-speed IoT applications (~1 Mbps), now in its third generation Monarch 3
• Calliope
• Iris
• Cassiopeia

Products and services

• Monarch 2 SQN3430 Second-generation single-chip LTE-M, NB-IoT and GNSS solution for LPWA IoT applications including smart meters, asset trackers, and low-data IoT devices. Features ultra-low deep sleep mode at 1 microamp and high integration.
• Monarch 2 GM02SP Module Global LTE-M, NB-IoT and GNSS module supporting worldwide bands (1, 2, 3, 4, 5, 8, 12, 13, 17, 18, 19, 20, 25, 26, 28, 66, 85) with dual-mode single-image technology, open SDK, and edge processing capabilities.
• Monarch 2 GM02S Module Global LTE-M, NB-IoT module for worldwide deployment. Features Single-SKU RF front end supporting any band globally, EAL5+ certified secure enclave, and low-power operation.
• Monarch 2 SKY66431 System-in-Package Ultra-small Global LTE-M, NB-IoT and GNSS System-in-Package co-developed with Skyworks with conformal shielding for durability. BGA package 8.8 x 11.3 x 1.585 mm enables compact IoT device designs.
• Calliope 2 SQN3530 Second-generation single-chip LTE Cat 1bis solution with fully integrated baseband, RF transceiver, and application processor running Sequans' carrier-proven LTE protocol stack. Supports data rates up to 10 Mbps downlink.
• Calliope 2 GC02S1 Module (North America) Cat 1bis module for North America supporting bands 2, 4, 5, 12, 13, 14, 17, 25, 66. Certified by AT&T, Bell, FirstNet, T-Mobile, Telus, Rogers, and Verizon with industry-lowest deep sleep at 1 microamp.
• Calliope 2 GC02S1 Module (Europe) Cat 1bis module for Europe supporting bands 1, 3, 8, 20, 28. Cost-effective solution for mid-speed IoT applications.
• Calliope 2 GC02S1 Module (Worldwide) Worldwide Cat 1bis module supporting bands 1, 2, 3, 4, 5, 8, 12, 13, 18, 19, 20, 25, 26, 28, 66 for North America, Europe, and Asia deployment.
• Calliope 3 SQN4530 Next-generation chip supporting 5G NR eRedCap and 4G LTE Cat 1bis in a single, highly integrated design. Modules will be footprint compatible with Calliope 2 for seamless 5G migration.
• Iris SQN9506 RF Transceiver 20 Rx, 4 Tx wideband RF transceiver for SDR applications operating from 220 MHz to 7.125 GHz with up to 200 MHz instantaneous bandwidth. Designed for defense, aerospace, drones, V2X, routers, and 5G systems.
• Multi-carrier RF Transceiver IP TSMC 22nm Ultra Low Leakage multi-carrier RF transceiver IP with up to 10 synthesizers, 4Tx/20Rx support, 220-7125MHz frequency range, up to 200MHz bandwidth.
• Single-carrier RF Transceiver IP Single-carrier RF transceiver IP with 1Tx/1Rx, 1Tx/2Rx, 2Tx/2Rx options, 450-5000MHz frequency range, up to 20MHz bandwidth.
• 5G RedCap L1 Modem IP 3GPP Release 18 compliant 5G RedCap L1 modem IP with 220Mbps/120Mbps DL/UL throughput, LTE Cat 4 fallback option, 2Rx or 1Rx option.
• 5G eRedCap L1 Modem IP 3GPP Release 19 compliant 5G eRedCap L1 modem IP with 10Mbps/10Mbps DL/UL throughput and LTE Cat 1bis fallback option.
• 5G RedCap L2/L3 Protocol Stack IP 5G RedCap L2/L3 protocol stack IP with Cat 4 LTE interRAT option, compliant with TTCN test specifications.
• 5G eRedCap L2/L3 Protocol Stack IP 5G eRedCap L2/L3 protocol stack IP with Cat 1bis LTE interRAT option.
• Engineering Services Expert services for integration, customization, optimization; custom SoC design and packaging; certification support (FCC, RED, PTCRB, GCF); and lab services for RF and protocol testing.

Quantifiable outcome

• 60% improvement in power consumption with Monarch 2 compared to first-generation Monarch
• +3 more outcomes

Named customers12 records

Segments8 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature8 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• MIKROEcoreTechnology or Integration · 9 June 2026MIKROE launched LTE Cat.1 5 Click board based on Sequans' GC02S1-EU2 module, expanding their portfolio to nearly 2,000 mikroBUS-enabled Click boards. This enables European IoT and M2M applications with LTE Cat 1bis connectivity.
• Swan BitcoinminorStrategic or Co-development Partner · 23 June 2025Partnership with Swan Bitcoin to implement Bitcoin treasury strategy. Sequans raised $384 million through private placements and convertible debentures to fund Bitcoin treasury initiative.
• QualcommcoreTechnology or Integration · 30 September 2024Sequans and Qualcomm completed sale of 4G IoT technology, with Qualcomm licensing Sequans' IP for their cellular IoT products. Demonstrates trust in Sequans' technology from industry leader.
• Multi-Year Strategic 5G PartnershipcoreStrategic or Co-development Partner · 30 August 2022Sequans closed a multi-year strategic 5G partnership agreement for technology development and commercialization.
• 6G-IA (6G Smart Networks and Services Industry Association)coreStrategic or Co-development PartnerSequans participates in Hexa-X-II, Europe's flagship 6G research program coordinated by Nokia, bringing together 44 organizations to shape 6G foundations.
• ThalescoreStrategic or Co-development PartnerPartnership enabling the first integrated eSIM solution supporting SGP.31 and SGP.32 GSMA standards for consumer IoT, leveraging Thales Adaptive Connect.
• SkyworkscoreTechnology or IntegrationCo-developed Monarch 2 SKY66431 System-in-Package with conformal shielding for ultra-small IoT devices. Skyworks is a leading analog semiconductor company.
• ACP Advanced Circuit PursuitcoreTechnology or IntegrationSequans acquired ACP in January 2025, adding RF transceiver technology to portfolio. ACP shipped ~100M RF transceiver chips into mobile phones, tablets, CPEs, and drones.
• 1NCEminorChannel Partner/ Reseller/ Distributor1NCE offers IoT software platform delivering connectivity in 170+ countries with 30 million devices on world's largest IoT network in the cloud.
• SoracomminorChannel Partner/ Reseller/ DistributorGlobal IoT connectivity provider and technology partner offering full suite of tools to accelerate deployment and scale.
• KOREminorChannel Partner/ Reseller/ DistributorGlobal leader in mission-critical IoT solutions and services, providing connectivity, device management, security, and analytics.
• MultiTechcoreTechnology or IntegrationMultiTech selected Sequans to power next-generation embedded cellular modem platforms, collaborating on future cellular modem development.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Nordic Semiconductor: Fabless wireless IoT semiconductor company offering LTE-M/NB-IoT (nRF9160) and Bluetooth LE chipsets for low-power connected devices. Closest direct competitor to Sequans in cellular IoT silicon with similar target applications in asset tracking, smart metering, and sensor connectivity.
• u-blox: Swiss fabless vendor of cellular (LTE-M, NB-IoT, Cat 1, Cat 4) modules and chipsets for automotive, industrial, and consumer IoT. Competes directly with Sequans' Monarch and Calliope product families and shares a similar European fabless profile.
• Sierra Wireless (Semtech): Acquired by Semtech in 2023; offers cellular IoT modules, gateways, and connectivity services that overlap Sequans' modules and chip-enabled solutions, serving smart metering, asset tracking, and fleet management with comparable end-customer segments.
• Sony Semiconductor Israel (Altair Semiconductor): Cellular IoT chipset subsidiary of Sony that designs 4G LTE-M/NB-IoT modems integrated into Sony's sensing platforms. Competes directly with Sequans in low-power cellular IoT silicon for global IoT deployments.
• Quectel: World's largest cellular IoT module vendor, using chipsets from multiple silicon suppliers including Qualcomm, MediaTek, and UNISOC. Competes with Sequans in module form factor and increasingly designs adjacent reference platforms that influence silicon choices.
• Telit Cinterion: Cellular IoT module and connectivity platform provider (formed via Telit's acquisition of Thales' cellular IoT business). Direct competitor in LTE-M, NB-IoT, and Cat 1 modules serving industrial, utility, and automotive customers.

Broad incumbents

• Qualcomm: Dominant cellular modem chipset vendor whose 4G/5G IoT line directly competes with Sequans and which licensed Sequans' 4G IoT technology in 2024. Massive scale, broad portfolio, and integrated application processor platforms make Qualcomm the principal incumbent in cellular IoT silicon.
• MediaTek: Large fabless chipset supplier with cellular modem product lines (including NB-IoT/Cat-M) overlapping Sequans' addressable market. Competes on integration, scale, and price across consumer, industrial, and IoT segments.
• UNISOC: Chinese fabless semiconductor company supplying cellular modems and IoT chipsets with strong presence in mass-market and low-cost IoT segments. Represents scale-based competitive pressure on Sequans in price-sensitive applications.

Emerging players

• ASR Microelectronics: Shanghai-based fabless chip designer offering 4G/5G cellular IoT and smartphone chipsets. Competes with Sequans primarily in low-cost LTE Cat 1/Cat 1bis modules, especially in Asian markets and IoT module OEM channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Sequans
• LinkedInlinkedin.com/company/sequans-communications
• Facebookfacebook.com/Sequans

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 records

Funding overview

Funding rounds15 records

Investors14 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sequans Communications