Slide 1: Investor Presentation
Investor Presentation May 2025 Dr. Georges Karam, CEO & Deborah Choate, CFO
Slide 2: Safe Harbor
Safe Harbor This presentation contains certain statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations and business of Sequans, including revenue expectations in Q2 2025, revenue trends in 2025 and 2026 and three-year rev
Slide 3: Leading Semiconductors for 4G and 5G Cellular IoT
Leading Semiconductors for 4G and 5G Cellular IoT Global Presence $36.8 M Headquartered in France Revenue in 2024 >200 Team $8.1 M 80% Engineering Revenue in Q1 2025 Founded in 2003, Listed on NYSE Ticker: SQNS $45.9 M Cash(1) and nearly no Debt(2) Top-tier IoT Industry Customer Base 1. Cash on 31 M
Slide 4: Innovation, Leadership, and Value Creation Track Record
Innovation, Leadership, and Value Creation Track Record WIMAX 4G IoT 4G and 5G IoT 2003-2011 2011-2024 2025+ • 2003 Co-founded by CEO, Georges • 2011 First 4G-LTE only (Cat 4) chip • Strong design pipeline ($450M) with Karam in France • 2017 First LTE-M/NB-IoT chip Industry Leaders • 2011 #1 WIMAX m
Slide 5: Market Opportunity: Accelerated Growth of Cellular IoT with 5G transition
Market Opportunity: Accelerated Growth of Cellular IoT with 5G transition Global Revenue TAM for Cellular IoT Modules (in USD Billion) 7,000 6,000 5,000 4,000 3,000 2,000 1,000 - 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Source : ABI Research, Techno Systems Research, Sequans 4G LTE 5G
Slide 6: Comprehensive 4G & 5G Portfolio Purpose Built for IoT
Comprehensive 4G & 5G Portfolio Purpose Built for IoT Low Speed, Ultra low power (1 Mbps) Mid Speed and Voice (10 Mbps) Hi Speed and Voice (100 Mbps) Monarch 2 Calliope 2 Cassiopeia Cat 4 LTE-M & NB-IoT Leading Cat 1bis High speed for Used in metering Used in Telematics public and private and asset
Slide 7: Well-Positioned to Grow in Key IoT Markets
Well-Positioned to Grow in Key IoT Markets Leading Market Position Market Share Gain Opportunity Smart Meters Security Systems Healthcare Asset Tracking Smart City Telematics Industrial Space & Defense Wearable Payment Industry Leaders Trust Sequans’ Technology Sequans Communications ©2025 | 7
Slide 8: Sequans Competitive Advantage
Sequans Competitive Advantage Best-In-Class Trusted Supplier Product & Technology Differentiated Services • Strong balance sheet, listed in NYSE • Robust 4G and 5G products purpose • Ability to supply and tailor all • Headquarter in Europe with global built for IoT, delivering low-power, elements ne
Slide 9: Commitment to Cellular IoT
Sequans Positioned to Capture Market Share Western Semiconductor Companies Serving the Cellular IoT Market Commitment to Cellular IoT Unique Position Amplified by Current Geopolitical Market Dynamics Cellular IoT Portfolio & Roadmap Sequans Communications ©2025 | 9
Slide 10: Executing Plan to Achieve Sustained Growth
Executing Plan to Achieve Sustained Growth Activating Multiple Levers to Create Long-Term, Sustainable Growth 1 2 3 4 Converting Existing Gaining Market Share in Market Share Acceleration Diversification by Design Win Pipeline to Higher Velocity Segments and Higher ASP with Developing the Vertical R
Slide 11: Transforming 4G Product Design Pipeline in Revenue
Transforming 4G Product Design Pipeline in Revenue Line-of-sight to 4G Product Revenue supporting break-even goal in 2026 Growth supported by both Qualified Opportunities existing and new D-Wins, and new products launches 4G Product Pipeline of $480M Product revenue : Design Wins & Ins • $250M in De
Slide 12: Financial Overview
Quarterly Revenue Breakdown $11.0 M Financial Overview $8.1 M $6.3 Revenue: $8.1M Q1 2025 (incl. $4.5M from $6.1 M Qualcomm 5G license and other revenues) $4.5 Product Revenue is expected to grow in 2025 as $3.6 existing customers move design wins into production. $4.7 Revenue in 2025 is expected to
Slide 13: Financial Goals and Capital Allocation
Financial Goals and Capital Allocation Strategic Financial Management to Drive Sustainable Growth and Efficiency 2025 – 2026 Goals Capital Allocation Revenue growth by converting existing Design Win Controlled spending to drive cash operating pipeline into revenue and increasing market share expense
Slide 14: Key Takeaways
Key Takeaways Setting the Stage for Sustainable Growth ✓ Revenue Growth Primarily from Product Revenue 1. Pipeline of 4G Design Wins Moving to Production 2. Gain Market Share in higher velocity IoT market segment 3.Leverage networks transition from 4G to 5G to gain market share and increase ASP with
Slide 15: Appendix
Appendix Sequans Communications ©2025 | 15
Slide 16: Leadership Team and Board of Directors
Leadership Team and Board of Directors Leadership Team Board of Directors Dr. Georges Karam Deborah Choate Bertrand Debray Dr. Georges Karam Wes Cummins Yves Maitre President and CEO Chief Financial Officer Chief of Staff President and CEO Director Director Louis (Ping Lin) Chuang Nick Taluja Olivie
Slide 17: Preliminary unaudited condensed consolidated statements of operations
Preliminary unaudited condensed consolidated statements of operations Three months ended (in thousands of US$, except share and per share amounts) March 31, Dec 31, March 31, 2025 (1) 2024(2) 2024 (3) Revenue : Product revenue $ 3,509 $ 4,747 $ 2,468 License and services revenue 4,545 6,302 3,559 To
Slide 18: Preliminary unaudited condensed consolidated statements of financial position
Preliminary unaudited condensed consolidated statements of financial position At March 31, At Dec 31, Three months ended March 31, (in thousands of US$) 2025 (1) 2024 (2) (in thousands of US$) 2025 (1) 2024 ASSETS Operating activities Non-current assets Property, plant and equipment $ 4,702 $ 4,308
Slide 19: Preliminary unaudited reconciliation of non-IFRS financial results
Preliminary unaudited reconciliation of non-IFRS financial results Three months ended (in thousands of US$, except share and per share amounts) March 31, Sept 30, March 31, 2025 (3) 2024 (4) 2024 (5) IFRS profit (loss) as reported $ (7,254) $ (2,377) $ (11,790) Add back Non-cash stock-based compensa
Slide 20: Capital - fully diluted as of April 30, 2025
Capital - fully diluted as of April 30, 2025 Shares ADS April 30, 2025 Total issued shares/ADS 253,929,822 25,392,982 Fully Diluted, assuming all warrants/SO exercised: Concord Warrants, €0.20/ADS exer price, exp 02/2034 9,392,986 939,299 Nokomis Warrants, $10.30/ADS exer price, exp 08/2026 594,680
Slide 21: THANK YOU!
THANK YOU! Investor Relations: Kim Rogers ir@sequans.com linkedin.com/company/sequans-communications/ linkedin.com/company/sequans-communications/ twitter.com/Sequans twitter.com/Sequans youtube.com/user/SequansIoT youtube.com/user/SequansIoT sequans.com sequans.com Sequans Communications ©2025