Sequans Ditches Bitcoin Holdings, Reports 80% Revenue Growth
Sequans Communications S.A., a French semiconductor company, has completed the sale of its remaining 314 Bitcoin holdings as of June 30, 2026. The move follows the redemption of its convertible debt in May 2026. With this transaction, Sequans has eliminated all outstanding debt outside of government-financed R&D projects and no longer holds any cryptocurrency on its balance sheet.
The company reported an impressive 80% year-over-year growth in product revenue for the second quarter of 2026. Its six-month product backlog at quarter-end tripled compared to the prior year, indicating a strong demand for its semiconductor solutions. Sequans' RF transceiver products are gaining traction in various markets, including defense, drone, and space.
'The completion of our Bitcoin treasury strategy marks an important milestone for Sequans and reflects the disciplined execution of a strategy designed to strengthen our financial foundation,' said Dr. Georges Karam, CEO of Sequans.