Sequans Communications S.A. (NYSE:SQNS) Q4 2022 Earnings Call Transcript

Georges Karam: But to be honest, you could have some of them a little bit faster. What — and all what they are doing is changing what they call the communication unit. In other words, the meter is there and you had the communication. But you need to keep in mind that any deployment with utility, any projects that the metering company win, they have to deploy and commit for 10 years, 10 years with the quality, with penalty on the quality and so on. So that’s why the process is very — is really a process where you have qualification phases and so on. That makes things more complicated to get there. But once you are in, in general, doesn’t move and it’s roll for 10 years. So this is really a counterpart, which is very positive versus the ramp on it.

And we have, I mean, thanks God, because this is a very important market metering and it’s growing very fast in domestic IoT and we have big chunk of our part there. And this may be one of the reason why things are not going fast as well in terms of ramp product for Sequans.

Operator: It appears that there are no further questions at this time. So I would now like to turn the floor back over to Dr. Karam for closing comments.

Georges Karam: Okay. Thank you again for joining the call. We look forward to catching up with you next year on our first quarter 2023 earnings call. We are participating in the upcoming ROTH Capital Conference on March 14 and 15 in Dana Point and the B. Riley Institutional Investor Conference on May 25 and 26 in LA. We look forward to seeing you at one of these upcoming events. Thank you for all of you and thanks, operator.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.