Sequans Communications Q3 revenue up 26% YoY

4G chipmaker Sequans Communications S.A. (NYSE:SQNS) has reported third quarter 2016 revenue of USD12.5 million, up 26.0% compared to the second quarter of 2016, reflecting significantly higher levels of both product revenue and other revenue, the company said.

Revenue increased 33.1% compared to the third quarter of 2015, due to both higher product revenue and higher other revenue.

Gross margin was 46.8% compared to gross margin of 44.6% in the second quarter of 2016, and compared to 40.8% in the third quarter of 2015.

Operating loss was USD4.0 million, compared to an operating loss of USD5.7 million in the second quarter of 2016 and an operating loss of USD4.2 million in the third quarter of 2015.

Net loss was USD5.1 million, or (USD0.08) per diluted share/ADS, compared to a net loss of USD5.1 million, or (USD0.09) per diluted share/ADS in the second quarter of 2016 and a net loss of USD2.4 million, or (USD0.04) per diluted share/ADS in the third quarter of 2015.

Sequans Communications provides single-mode 4G LTE wireless semiconductor solutions for Internet of Things (IoT) and a wide range of broadband data devices. Founded in 2003, Sequans has developed and delivered seven generations of 4G technology and its chips are certified and shipping in 4G networks around the world.