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Technology Stocks : Sequans Communications -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (2271)	4/27/2021 2:46:15 PM
From: FJB	2 Recommendations Recommended By frmrVZguy JCnieuwenj Read Replies (1) \| Respond to of 2386

A few key takeaways from the first quarter: Massive IoT grew by 30% sequentially and over 100% year over year. Both Cat1 and Cat-M/NB categories are contributing to this growth. Broadband IoT decreased by nearly 70% from the prior quarter and 8% from Q1 last year, primarily due to lower portable router sales as we expected. The Vertical category grew nearly 20% sequentially and 15% year over year. This category includes the NRE revenue from the strategic deal with the Fortune Global 500 company for 3+ years, that we signed in Q4 of 2019. We saw solid bookings with customers placing advanced purchase orders with some covering the whole of 2021 and into early 2022, improving our visibility and ability to address the supply challenges. The $2 million of delayed product shipments was due to supply chain issues that reduced some material availability. We anticipate recovering these sales in a future quarter. Supply challenges remain a concern for the whole industry, but we don’t expect this to result in lost business – only potential delays.