Sequans Capitalization and 5G Taurus Launch
UNAUDITED RECONCILIATION OF NON-IFRS FINANCIAL RESULTS
(in thousands of US$, except share and per share amounts)
Three months ended
March 31,
2023
$
(5,040)
$
December
31, 2022
(4,961)
March 3
202
$
2,019
Net IFRS gain (loss) as reported
Add back
Non-cash stock-based compensation expense according to IFRS 2(1)
1,781
1,810
1,31!
Non-cash change in the fair value of convertible debt embedded
derivative
Non-cash interest on convertible debt and other financing (2)
(2,302)
1,408
(1,011)
(6,39:
1,404
1,21
Non-cash impact of convertible debt amendment
Non-IFRS gain (loss) adjusted
$
IFRS basic gain (loss) per ADS as reported
(4,153)
($0.10)
$
(2,758)
($0.10)
$
(1,84!
$0.0:
Add back
Non-cash stock-based compensation expense according to IFRS 2 (1)
$0.04
$0.04
$0.0:
Non-cash change in the fair value of convertible debt embedded
($0.05)
($0.02)
($0.1
derivative
Non-cash interest on convertible debt and other financing (2)
$0.03
$0.02
$0.0%
Non-cash impact of convertible debt amendment
$0.00
$0.00
$0.01
Non-IFRS basic gain (loss) per ADS
($0.09)
($0.06)
($0.0.
IFRS diluted gain (loss) per ADS
($0.10)
($0.10)
$0.0
Add back
Non-cash stock-based compensation expense according to IFRS 2 (1)
$0.04
$0.04
$0.0
Non-cash change in the fair value of convertible debt embedded
derivative
($0.05)
($0.02)
($0.1
Non-cash interest on convertible debt and other financing (2)
$0.04
$0.02
$0.0%
Non-cash impact of convertible debt amendment
$0.00
$0.00
$0.00
Non-IFRS diluted gain (loss) per ADS
($0.09)
($0.06)
($0.0.
(1) Included in the IFRS loss as follows:
Cost of product revenue
$
32
$
45
$
Research and development
470
601
47
Sales and marketing
General and administrative
347
286
མངྐུནྣ
2!
291
932
878
52
SEQUANS
(2) Related to the difference between contractual and effective interest rates
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