Sequans sells 1,025 BTC amid revenue drop and losses

Sequans sold 1,025 BTC in Q1 2026, cutting reserves to 1,114 BTC amid a 24.8% revenue drop and $50.5M loss. Most remaining BTC is pledged as debt collateral.

Sequans Communications, a Paris-based technology firm, sold 1,025 bitcoin in Q1 2026, reducing its holdings from 2,139 BTC at the end of 2025 to 1,114 BTC by late April. This move was driven by financial pressures, including a 24.8% year-over-year revenue decline to $6.1 million and a widened operating loss of $50.5 million, up from $6.8 million the previous year. Proceeds from the bitcoin sale were used to redeem convertible debt and support an ADS buyback program. Of the remaining bitcoin, 817 BTC—over 70%—are pledged as collateral for $35.9 million in outstanding convertible notes. Sequans also reported $29.3 million in unrealized bitcoin impairment losses and $11.7 million in realized losses from asset sales. Despite the reduced holdings, the company still maintains a significant bitcoin position, though liquidity is constrained by collateral requirements. Sequans’ Nasdaq shares have fallen 51.5% over the past six months, now trading at $3.01.