Sequans reports Q4 EPS (6c), consensus (4c)

Reports Q4 revenue $15.91M, consensus $16.25M. "Notable accomplishments in 2022 set the stage for sustainable long-term growth and market share gains in the largest IoT markets," said Georges Karam, CEO of Sequans. "In particular, we executed a multi-year, strategic 5G licensing deal for our Taurus 5G platform valued at more than $50 million; successfully launched Calliope 2, our second-generation Cat 1 chip; grew our product pipeline to over $700 million and delivered 19% annual revenue growth. We closed the year with fourth quarter revenue of $15.9 million, in line with our expectations, and annual revenue of $60.6 million. Higher contribution from licensing revenue lifted our gross margin to over 75% in the fourth quarter and over 70% for the year, which drove a marked improvement in our operating results. Our annual operating loss improved significantly from $18.3 million in 2021 to $3.8 million in 2022, resulting in a non-IFRS operating profit of $1.6 million in 2022."