Sequans sees Q2 revenue $9M-$11M, consensus $11.42M

The company said, "As a result of our primary 5G IP agreement’s payment structure, licensing revenue is expected to normalize to a lower quarterly level beginning in Q2. As product shipments are not expected to accelerate before Q3, management expects revenue to be in the range of $9 million to $11 million, with gross margin expected to be around 65% for the quarter ending June 30, 2023."