Sequans Communications Announces Preliminary Fourth Quarter and Full Year 2023 Financial Results
Fourth Quarter 2023 Financial Summary:
- Fourth Quarter 2023 Financial Summary:
Revenue: Revenue was $4.8 million, a decrease of 38.7% compared to the third quarter of 2023 and a decrease of 70.0% compared to the fourth quarter of 2022. - Gross margin: Gross margin was 12.2% compared to 85.8% in the third quarter of 2023 and compared to 75.3% in the fourth quarter of 2022, reflecting lower licensing revenues in the fourth quarter of 2023 and a provision for slow-moving inventory of $1.3 million, compared to $75,000 in the third quarter of 2023 and $0.3 million in the fourth quarter of 2022.
- The fourth quarter of 2023 operating loss reflected $0.8 million in general and administrative expenses from legal fees related to the Renesas tender offer, compared with $2.4 million in the third quarter of 2023 and none in the fourth quarter of 2022.
- Sequans plans to conduct a teleconference and live webcast to discuss the financial results for the fourth quarter of 2023 today, March 7, 2024 at 8:00 a.m.