Sequans Communications S.A. (NYSE:SQNS), a semiconductor company with a market capitalization of $385 million, has acquired an additional 1,264 bitcoin for approximately $150 million at an average price of $118,659 per bitcoin including fees, the company announced Monday.

Sequans Communications shares jumped 18.5% in premarket trading.

The semiconductor company, which specializes in cellular IoT solutions, now holds a total of 2,317 bitcoins acquired for approximately $270 million at an average price of $116,493 per bitcoin as of July 18, 2025. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, though its stock has experienced significant volatility, dropping nearly 50% in the past week.

Sequans describes itself as a "fabless semiconductor company with a Bitcoin treasury" that views the cryptocurrency as a long-term store of value. The company has adopted bitcoin as its primary treasury reserve asset, using proceeds from equity and debt issuances as well as cash generated from operations to fund these acquisitions. Despite recent market volatility, InvestingPro analysis shows the company achieved impressive revenue growth of 40% in the last twelve months, with 12 additional key insights available to subscribers.

Founded in 2003 and headquartered in France, Sequans develops wireless 4G/5G cellular technology for Internet of Things applications, including platforms for LTE-M/NB-IoT, 4G LTE Cat 1bis, and 5G NR RedCap/eRedCap.

The company operates globally with offices across the United States, United Kingdom, Switzerland, Israel, Singapore, Finland, Taiwan, and China.

This announcement was made in a press release statement issued by the company.

In other recent news, Sequans Communications reported mixed financial results for the first quarter of 2025. The company saw revenues climb to $8.1 million, a 33.6% increase from the previous year, though it marked a 27.1% decrease from the fourth quarter of 2024. The company experienced a net loss of $7.3 million, which improved from the $11.8 million loss in Q1 2024 but worsened compared to the $2.4 million loss in Q4 2024. Additionally, Sequans Communications announced the successful closing of its $384 million debt and equity private placement offerings, aimed at implementing a bitcoin treasury strategy. This initiative will use proceeds to purchase bitcoin, with plans to partner with Swan Bitcoin for execution and governance. The company also received a non-compliance notice from the New York Stock Exchange due to its average global market capitalization falling below $50 million. Sequans has 90 days to submit a plan to regain compliance. Furthermore, the company recently acquired 683 more bitcoins, totaling 1,053 bitcoins, as part of its long-term financial strategy.