THEY COMPLETED THE STRATEGIC DEAL, THANKFULLY. IF YOU LOOK BACK ON THE BOARD, THERE IS HUGE DEMAND FOR NON-SOC 5G CHIPS, WITH VERY LITTLE SUPPLY. IF THEY CAN GET TO MARKET WITH TAURUS, THIS THING MIGHT FINALLY PAY OFF IN A VERY GOOD WAY. ASSUMING GEORGES DOESN'T FIND SOME NEW WAY TO SCREW THINGS UP. LOL!
“Our second quarter growth was boosted by our Monarch Cat-M product family, which grew 13% sequentially and 122% year-over-year, continuing its first-quarter strong performance,” said Georges Karam, CEO of Sequans. “Revenue for the quarter increased 11% year-over-year, with Massive IoT growing 12% and the Broadband category growing 9%, due to services revenue. Broadband revenue decreased sequentially due to the expected decline of licensing revenue generated by our existing 5G agreements, which was fully offset by the growth in our Massive IoT business. Our product revenue pipeline continues to build with more design wins, and we are moving them towards mass production, although the shutdowns in China have delayed a few product launches. While most of the design wins are with the Monarch family, our main growth driver, we are seeing increasing interest in our new Cat 1 Calliope 2 platform that we expect to drive additional growth in 2023.”
Mr. Karam continued, “I am pleased to announce that we finalized all the terms of a licensing agreement with a new 5G strategic partner that is expected to fully fund the development of our 5G platform. Execution of the deal should be concluded shortly subject to some final logistical steps.” |
