The phrase "sequential basis" means doing something in a specific order or following a sequence. It refers to a process or activity that needs to be completed step by step, one after another, in a particular sequence. Full definition
The result marked the fourth straight quarter that Amazon's ad - related revenues have grown on a sequential basis from the immediately prior quarter. (businessinsider.com)
Indeed, while iPhone unit sales fell year - over-year in the fourth quarter, they turned into positive territory on a sequential basis. (cnbc.com)
I don't think I can remember a quarter with such a dramatic decline in enterprise margins, and your product mix actually looked slightly favorable on a sequential basis. (seekingalpha.com)