WISeKey Reports
39% Increase in H1 2023
Unaudited Revenue
GENEVA – July
24, 2023
– Ad-Hoc announcement pursuant to
Art. 53 of SIX Listing Rules– WISeKey International
Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leader in
cybersecurity, digital identity, and Internet of Things (IoT)
solutions operating as a holding company, today announced its
unaudited first half 2023 (H1 2023) revenue.
For H1 2023 total unaudited revenue was $15.1
million, marking a 39% increase from H1 2022. The semiconductor
revenue saw a 38% increase to $14.8 million from $10.7 million in
H1 2022.
WISeKey operates as a holding company with four
subsidiaries: SEALSQ Corp (“SEALSQ”) (Nasdaq: LAES), WISeKey SA,
WISeSat.Space, and WISe.ART, each dedicated to a unique aspect of
its expansive technology portfolio, is also reporting a pipeline of
opportunities for IoT semiconductors products totaling $60
million.
WISeKey plans to further invest to mature each
subsidiary and IPO each independent subsidiary upon reaching
maturity, maintaining its focus on the core mission of securing the
internet. This diversified business structure aims to capitalize on
opportunities in the dynamic cybersecurity market, as it is
involved in various sectors, such as digital identity,
semiconductors, quantum computing, blockchain technology, space
satellites, and NFT platforms. WISeKey's multi-sector involvement
and diversified approach positions it well for sustained growth and
continued relevance amidst the challenges of the Fourth Industrial
Revolution.
WISeKey’s subsidiary
SEALSQ recently listed its ordinary shares on the Nasdaq
Global Market. WISeKey has retained 80% ownership of
SEALSQ, which also closed an initial $10 million tranche of a
possible $20 million private placement. The proceeds are intended
to fund enhancements of production facilities and the development
of a new generation of quantum-ready semiconductors.
Semiconductor revenue growth in H1 2023, was
largely due to higher demand for semiconductors/IoT products,
signaling that WISeKey is capitalizing on this growing
market.Post-quantum cryptography is a part of quantum computing
that deals with systems that could be resistant to quantum-based
attacks, making it a critical area of research and development
given the growth in quantum computing technology. Key growth
drivers in the semiconductor segment are:
- Increasing Threat of Quantum
Computing: Quantum computing has the potential to crack many of
today's encryption algorithms. This has increased the demand for
post-quantum semiconductors that can provide security against
potential quantum-based attacks.
- Technological Advancements:
Advances in semiconductor technology, such as the development of
quantum-ready semiconductors, are paving the way for the expansion
of the post-quantum market.
- Government Support: Many
governments around the world are investing in post-quantum
cryptography research to prepare their infrastructure for the
quantum era, driving further growth in this market.
WISeKey's position in this market, and the
growth in semiconductor revenue, suggests that it's well-placed to
take advantage of these trends and continue to grow.
WISeSat.Space
subsidiary focuses on space technology and aims to securely connect
assets via satellite communication using picosatellites. The demand
for satellite technology and services has been increasing rapidly,
driven by the growth of IoT, telecommunications, navigation
systems, and earth observation systems. As this market continues to
grow, WISeSat.Space is likely to see a rise in demand for its
products and services.WISeSat.Space's use of picosatellites is a
cost-effective approach to satellite deployment. Picosatellites are
smaller and lighter than traditional satellites, leading to lower
launch costs. This competitive advantage can help the company
attract more customers, driving revenue growth. The satellite
communication services provided by WISeSat.Space can be integrated
with WISeKey's other offerings, such as cybersecurity and digital
identification. This integration can provide added value to
customers and could lead to higher sales for the company.
Satellites can collect vast amounts of data from across the globe.
WISeSat.Space can monetize this data by selling it to businesses in
a range of sectors, including agriculture, logistics, and
environmental monitoring.Governments and private companies
worldwide require satellite services for a range of applications,
including communications, defense, and research. WISeSat.Space
could secure lucrative contracts with these entities, leading to
significant revenue.WISeSat.Space will adopt new business models,
such as 'Space-as-a-Service', where it could lease satellite
connectivity to businesses on a subscription basis. This could
provide a steady, recurring revenue stream. WISeID's focus on
providing secure digital identity solutions could generate
substantial revenue as we move forwarded, given the growing
concerns about cybersecurity, privacy issues in AI, IoT expansion,
need for regulatory compliance, and the rise in remote work. With
the surge in online activities across industries and AI's
increasing role in various applications, the demand for secure
digital identities is growing to protect sensitive information from
security breaches and cyber attacks. WISeID, with its secure
authentication and identification solutions, can cater to this
demand, leading to increased revenue.
AI technologies often rely on large amounts of
data, some of which can be personally identifiable information
(PII). With increasing concerns about data privacy and compliance
with regulations such as GDPR, the need for secure digital
identities is paramount. WISeID's solutions can provide a secure
way to authenticate and protect this data, leading to increased
demand for its services.
WISeKey
SA subsidiary offers advanced cybersecurity
solutions that protect digital communications and transactions,
secure digital identities, and maintain the trustworthiness of
electronic systems. Their key activities revolve around the secure
provision of cryptographic root keys, management of a robust Public
Key Infrastructure (PKI), and the generation and management of
trusted digital identities.
WISe.ART subsidiary is focused
on the thriving NFT market, and provides a secure platform for NFT
transactions. Its integration with cybersecurity and blockchain
technologies offers a secure environment for NFT creation, sale,
and exchange, thereby positioning WISeKey to tap into a lucrative
and rapidly growing market.Entering the NFT market allows WISeKey
to diversify its revenue streams and broaden its client base to
include artists, collectors, and investors. WISe.ART can monetize
its platform through transaction fees, authentication and
verification services, and premium subscriptions.WISeKey's foray
into the NFT market can bolster its brand as a leader in innovative
digital solutions. This could enhance its appeal across other
business sectors, potentially attracting more clients and driving
higher revenue. Additionally, WISe.ART could act as a gateway for
users to explore WISeKey's other offerings, leading to greater
adoption of its cybersecurity solutions and contributing further to
its revenue diversification.
About
WISeKey
WISeKey International Holding Ltd ("WISeKey",
SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity,
digital identity, and IoT solutions platform. It operates as a
Swiss-based holding company through several operational
subsidiaries, each dedicated to specific aspects of its technology
portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES),
which focuses on semiconductors, PKI, and post-quantum technology
products, (ii) WISeKey SA which specializes in RoT and PKI
solutions for secure authentication and identification in IoT,
Blockchain, and AI, (iii) WISeSat.Space AG which focuses on space
technology for secure satellite communication, specifically for IoT
applications, and (iv) WISe.ART Corp which focuses on trusted
blockchain NFTs and operates the WISe.ART marketplace for secure
NFT transactions.
Each subsidiary contributes to WISeKey's mission
of securing the internet while focusing on their respective areas
of research and expertise. Their technologies seamlessly integrate
into the comprehensive WISeKey platform. WISeKey secures digital
identity ecosystems for individuals and objects using Blockchain,
AI, and IoT technologies. With over 1.6 billion microchips deployed
across various IoT sectors, WISeKey plays a vital role in securing
the Internet of Everything. The company's semiconductors generate
valuable Big Data that, when analyzed with AI, enable predictive
equipment failure prevention. Trusted by the OISTE/WISeKey
cryptographic Root of Trust, WISeKey provides secure authentication
and identification for IoT, Blockchain, and AI applications. The
WISeKey Root of Trust ensures the integrity of online transactions
between objects and people. For more information on WISeKey's
strategic direction and its subsidiary companies, please visit
www.wisekey.com.
Press and investor
contacts:
WISeKey International Holding
Ltd Company 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 the Swiss Financial Services Act
(“FinSA”), the FInSa’s predecessor legislation or advertising
within the meaning of the FinSA. 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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