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Technology Stocks : Sequans Stock Discussion
SQNS 7.900+1.7%11:39 AM EDT
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To: y2k_yes who wrote (188)8/2/2021 1:41:59 PM
From: GaryMi1 Recommendation

Recommended By
frmrVZguy

   of 222
 
I'll agree it has been a constant disappointment for the past 5+ years. In retrospect it only seemed attractive over that time span given the expectations of the LTE-M market which have so far failed to materialize in any meaningful way. Of course much of the pain was caused by management blunders, especially as it relates to the broadband market and their constant failures to meet their own projections.

With the constraints on chip supply and their (likely) loss of the Franklin business it feels to me that breakeven has been solidly pushed out again, 2022? Maybe.

I learned from IR last week that their pipeline numbers are not based on the end customer estimates of demand for their finished product. Instead Sequans gets input from the customer, but the actual estimates come from Sequans. As we all know, any estimate coming from Sequans has very little credibility. For example:

2015 Q4 earnings call.
"As we have indicated previously, we expect to approach cash flow breakeven on a quarterly basis in late 2016."

2016 Q4 call
"we believe we can achieve operating breakeven on a quarterly basis by the end of this year (now referring to CY 2017)."

and the list goes on and on and on.

I believe in the LTE-M market ( wboc.com but I don't much faith in managements ability, nor do I trust them to be accurate in their estimates. For those reasons I have trimmed my position until there is more clarity. But I do retain a very significant holding on the chance that market starts to value Sequans similarly to other LTE stocks or as a buyout candidate which I don't think is too far fetched.

GLTA tomorrow.
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