WISeKey Releases CEO Letter to
Shareholders
Geneva, Switzerland – December 30, 2022: WISeKey
International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a
leading global cybersecurity, AI and IoT company, today released a
letter to shareholders from Carlos Moreira, WISeKey's Founder and
CEO.
Dear shareholders,
As the year comes to a close, we want to take this opportunity
to summarize our significant business milestones, as well as
provide some insight into the strategic direction of WISeKey for
2023 and beyond.
While 2022 was a challenging year for everyone,
with the COVID-19 pandemic affecting communities and businesses
around the world, I am proud to say that despite these challenges,
due to the resilience and adaptability of our team and our
business, we were able to end the year with record revenues.
For fiscal 2022 revenue we expect to report revenue of over $24.5
million, an increase of more than 10% compared to FY 2021, due to
steady semiconductors demand and an ambitious roadmap to develop
the next generation of post-quantum chips.
We have worked hard to navigate the uncertain
and rapidly changing environment, and we are pleased to report that
WISeKey has remained financially strong during 2022. The
divestiture of arago GmbH had a positive impact on our liquidity,
as it reduced cash burn by approximately 40% and allowed us to
focus on revenue generating investments.
During the year, we continued to make progress
on our strategic initiatives and invest in our future
growth. It is likely that technology foundations of WISeKey
will continue to advance and play a significant role in many
aspects of daily life in 2023. Some areas that may see significant
developments in the next few years including AI, virtual and
augmented reality, IoT, NFTs, quantum and cybersecurity. There may
also be continued progress in fields such as robotics and space low
orbit satellites. WISeKey is well positioned to take advantage
of the growing demand for these technologies.
It is important to note that technology can have
both positive and negative impacts on society, and it is essential
to consider the ethical implications of new developments as they
arise, which is the foundation of our Company’s mission
statement.
As you are aware, we have seen significant
volatility in the global stock markets which has caused concern for
many investors. It's important to keep in mind that short-term
market movements are not necessarily indicative of long-term trends
and that it is normal for the stock market to experience ups and
downs. WISeKey’s stock price has also seen the effect of market
volatility. While analysts covering our stock have a target price
well above our current trading price, we believe that our stock
price doesn’t reflect the real value of our business and growth
opportunities ahead of us, but we also understand that market
fluctuations and other global macro-economic developments remain
outside of our control. We encourage our shareholders to stay
informed about the progress of WISeKey and reach out to their
financial advisor.
Moving forward, we expect our total revenue to
continue to grow in 2023, driven by a projected revenue growth for
the IoT segment of at least 40%. We believe that due to our large
backlog of $36 million, which we expect to deliver within the next
48 months, our $100 million pipeline of opportunities, and the
significant investments we have made into expanding our salesforce,
we are well positioned to continue to gain market share and expand
our geographic footprint.
I want to take this opportunity to express my
gratitude to our shareholders, business partners, clients and also
our wonderful team of employees around the globe for the continued
support you have shown us over the years. We remain committed to
delivering long-term value.
On behalf of our management team and board of
directors, I wish you and your loved ones a happy and healthy
2023.
Sincerely,
Carlos MoreiraChairman & CEOWISeKey
International Holding Ltd
About WISeKey
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN)
is a leading global cybersecurity company currently deploying large
scale digital identity ecosystems for people and objects using
Blockchain, AI and IoT respecting the Human as the Fulcrum of the
Internet. WISeKey microprocessors secure the pervasive computing
shaping today’s Internet of Everything. WISeKey IoT has an install
base of over 1.5 billion microchips in virtually all IoT sectors
(connected cars, smart cities, drones, agricultural sensors,
anti-counterfeiting, smart lighting, servers, computers, mobile
phones, crypto tokens etc.). WISeKey is uniquely positioned
to be at the edge of IoT as our semiconductors produce a huge
amount of Big Data that, when analyzed with Artificial Intelligence
(AI), can help industrial applications to predict the failure of
their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s
Swiss based cryptographic Root of Trust (“RoT”) provides secure
authentication and identification, in both physical and virtual
environments, for the Internet of Things, Blockchain and Artificial
Intelligence. The WISeKey RoT serves as a common trust anchor to
ensure the integrity of online transactions among objects and
between objects and people. For more information,
visit www.wisekey.com.
Press and investor contacts:
WISeKey
International Holding LtdCompany Contact: Carlos
MoreiraChairman & CEOTel: +41 22 594
3000info@wisekey.com |
WISeKey
Investor Relations (US)Contact: Lena CatiThe Equity
Group Inc.Tel: +1 212
836-9611lcati@equityny.com |
Disclaimer:This communication expressly or
implicitly contains certain forward-looking statements concerning
WISeKey International Holding Ltd and its business. Such statements
involve certain known and unknown risks, uncertainties and other
factors, which could cause the actual results, financial condition,
performance or achievements of WISeKey International Holding Ltd to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. WISeKey International Holding Ltd is providing this
communication as of this date and does not undertake to update any
forward-looking statements contained herein as a result of new
information, future events or otherwise.This press release does not
constitute an offer to sell, or a solicitation of an offer to buy,
any securities, and it does not constitute an offering prospectus
within the meaning of article 652a or article 1156 of the Swiss
Code of Obligations or a listing prospectus within the meaning of
the listing rules of the SIX Swiss Exchange. Investors must rely on
their own evaluation of WISeKey and its securities, including the
merits and risks involved. Nothing contained herein is, or shall be
relied on as, a promise or representation as to the future
performance of WISeKey.
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