COMP <GO>

NA vs SQNS // PIOTROSKI F-SCORE QUALITY

Nano Labs Ltd (Class A) (NASDAQ) VS. Sequans Communications S.A. (each representing one hundred (100) ) (NYSE) • 15-METRIC TALLY: NA 1 — SQNS 1

■ METRIC PARITY

NA — Nano Labs Ltd (Class A) ROARABLE D • RQD 45/100

LAST: $1.70 (-0.88%) • MKT CAP: $39.3M

DES <GO> FA <GO> 10-K RED <GO>

piotroski-score

5/9

SQNS — Sequans Communications S.A. (each representing one hundred (100) ) ROARABLE D+ • RQD 52/100

LAST: $2.54 (0.00%) • MKT CAP: $38.0M

DES <GO> FA <GO> 10-K RED <GO>

piotroski-score

—

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (NA VS. SQNS) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	NA	SQNS	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	6.20%	—	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	6.1x	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	—	—	TIE	/fcf-yield <GO>
Operating Margin	75.00%	—	—	TIE	/operating-margins <GO>
Net Profit Margin	68.00%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	-32.00%	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	0.38	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality ACTIVE	5/9	—	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	28.9	40.8	-11.89	SQNS	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$39.3M	$38.0M	$1.3M	NA	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	NA REV	SQNS REV	NA GROSS %	SQNS GROSS %	NA FCF	SQNS FCF
FY 2025	$3.8M	—	—	—	-$15.4M	—
FY 2024	$5.6M	—	28.6%	—	-$24.4M	—
FY 2023	$11.1M	—	—	—	-$18.8M	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

NA // BETA —

SQNS // BETA —