Sequans Communications sold 1,025 bitcoin in Q1 2026, reducing its holdings from 2,139 BTC to 1,114 BTC. The company faced declining revenue of $6.1 million, down 24.8% year-over-year. Although product sales increased by 45%, gross margin fell significantly. Operating losses reached $50.5 million, driven by substantial impairment charges on bitcoin. The sale proceeds were used to reduce liabilities, indicating a shift from an accumulation strategy to liquidation of digital assets.
"Sequans reported revenue of $6.1 million for the quarter ended March 31, down 24.8% from $8.1 million a year earlier, revealing the company's vulnerability."
"Operating losses reached $50.5 million in the quarter, driven by $29.3 million in unrealized impairment charges on bitcoin holdings and $11.7 million in realized losses."
"The bitcoin holdings that CEO Georges Karam once framed as a balance-sheet asset have become a source of substantial losses, underscoring the shift in strategy."
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]