WISeKey Releases CEO Letter to
ShareholdersGeneva, August 10, 2023 - WISeKey
International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a
leader in cybersecurity, AI, Blockchain, and IoT operating as a
holding company, today released a letter to shareholders from
Carlos Moreira, its Founder and CEO.
To our Esteemed Shareholders,I am pleased to take this
opportunity to summarize our recent business developments, our
financial performance for the first half of 2023, and update you on
our vision and strategic direction going forward.
Specifically, 2023 year-to-date milestones include…
- Our H1 2023 revenue reached $15.1M, up 39% from H1 2022.
- Our semiconductor segment H1 2023 revenue was $14.8M, up 38%
from H1 2022.
- We reorganized as a holding company with four subsidiaries
which are fuelling our tech portfolio, with opportunities for IoT
products valued at $60M.
- Recent developments in each of our subsidiaries include:
- Listing of our SEALSQ subsidiary on Nasdaq (ticker: LAES) with
a valuation of approximately $160 million (as of the date of this
letter); WISeKey currently retains a 90% stake.
- Signing of several partnership distribution agreements to
expand client base and accelerate he business expansion in North
America
- Launching of a project for the development of a new
Quantum-resistant TPM compliant Semiconductors
- WISeSat.Space focuses on the deployment of cost-effective
picosatellites; 17 already operational.
- WISeID offers strong cybersecurity & digital identity
solutions to protect corporations and individuals against
unauthorized access.
- Our NFT platform, WISe.ART, got a boost through a grant from a
partnership with The Hashgraph Association and Hedera, aimed at
enabling the tokenization of WISe.ART shares via ledger-based
securities to revolutionize asset management.
- WISe.ART technology bridges the gap between digital and
physical worlds with the introduction of Phygital Packages (i.e. a
physical valuable asset and a twin NFT).
We are proud to be at the forefront of digital innovation,
ensuring a more secure & integrated future! #Cybersecurity #IoT
#NFT #Blockchain #QuantumComputingWhile for H1 2023, our total
unaudited revenue stood at $15.1 million, a 39% increase from H1
2022, a notable highlight is the growth of our semiconductor
segment (SEALSQ subsidiary), which reported a 38% increase in its
revenue for the H1 2023 period to a total of $14.8 million, up from
$10.7 million in H1 2022. This positive trajectory underscores the
demand for our semiconductor and IoT products and our successful
positioning in this sector.
Moving on to our strategic direction and business
strategy, operating as a diversified
holding company, WISeKey has four principal subsidiaries:
SEALSQ Corp, WISeKey SA (WISeID), WISeSat.Space, and
WISe.ART. Each plays a crucial role in expanding our
technology portfolio. Collectively, these entities have a promising
pipeline of opportunities for IoT semiconductor products, valued at
$60 million.Our long-term strategy is to further nurture each
subsidiary towards maturity. As each subsidiary achieves this
maturity, we plan to undertake individual IPOs, ensuring a
steadfast dedication to our mission of securing the internet.
Through our multi-sector engagement — ranging from digital
identity, semiconductors, and quantum computing to space satellites
and NFT platforms — we are uniquely poised to harness opportunities
presented by the dynamic cybersecurity market and the broader
Fourth Industrial Revolution.A key recent milestone was
SEALSQ's listing on the Nasdaq Global Market. While
WISeKey retains a 90% stake in SEALSQ, the latter has successfully
completed an initial $10 million tranche of a projected $20 million
private placement. The proceeds are allocated for enhancements in
production facilities, sales and marketing efforts and spearheading
the development of a new wave of Quantum-resistant semiconductors
(Project QUASARS.)Our strategic positioning in the post-quantum
cryptography sector is both timely and forward-thinking. The
semiconductor segment's growth drivers include:
- Increasing Threat of Quantum Computing: The surge in quantum
computing threatens existing encryption models, thus amplifying the
demand for post-quantum semiconductors.
- Technological Advancements: Quantum-ready semiconductors and
other semiconductor technology developments present growth
opportunities in the post-quantum market.
- Government Support: Global investments in post-quantum
cryptography research further drive this segment’s growth.
WISeSat.Space’s emphasis on
picosatellites presents a cost-effective method for
satellite deployment. Leveraging this advantage, combined with
growing demands in satellite services across diverse sectors like
agriculture, logistics, and environmental monitoring, positions us
for growth and diversification.Meanwhile, our endeavors in the
digital identity realm through WISeID are pivotal in the current
global landscape where cybersecurity, privacy, and compliance with
stringent regulations are paramount.WISeKey SA
through its WISeID
technology is at the forefront of digital
communications protection, with its mainstay being cryptographic
root keys, Public Key Infrastructure (PKI) management, and trusted
digital identity generation and management.Lastly, our
foray into the burgeoning NFT space via WISe.ART not only
diversifies our revenue streams but also amplifies our standing as
a leader in digital innovation. WISe.ART is thrilled to share some
exciting news about our ongoing journey with WISe.ART Web 3.0
platform. We are not only venturing into a dynamic phase of our
development, but also establishing solid foundations for the future
of digital transactions.We recently announced a pivotal partnership
with Hedera and the significant investment they've made into
WISe.ART. This strategic funding from The Hashgraph Association
does more than just bolster the positioning of both our
organizations in the digital identity and NFT landscape. It stands
as a profound endorsement of the transformative capacity and
adaptability of blockchain technology in shaping the next
generation of the internet.A key component of this investment in
WISe.ART is our commitment to harness the power of the Hedera
network. Recognized as a superior public ledger tailored for a
decentralized world, Hedera will now be instrumental in the
tokenization of WISe.ART AG shares. This process, known as
tokenization, is a potential game-changer.By transforming WISe.ART
shares into tokens, we're pioneering a seamless and digital method
to handle assets, in our case, the equity shares of WISe.ART. This
evolution in handling shares eradicates the need for middlemen and
redundant paperwork. What's even more remarkable is that these
tokenized shares can be fragmented, allowing for multiple
individuals to hold portions of a single share.This innovative
approach offers benefits to all parties involved. Investors can
rejoice in enhanced liquidity, thanks to the ease of trading these
tokens on secondary markets. For issuers like WISe.ART, this
presents an opportunity to attract a broader, global audience of
investors, which can elevate the potential capital investment. And
the intermediaries, being the platforms themselves, stand to gain
by channeling and profiting from the increased trade
activities.This initiative with Hedera serves as a concrete
demonstration of how the Blockchain is reshaping the financial
sector. The promise of the Blockchain lies in fostering a more
streamlined, inclusive, and transparent financial ecosystem. This
collaboration not only solidifies our reputations but positions
both WISe.ART and Hedera at the forefront of blockchain and digital
asset innovation.We're eager to embark on this groundbreaking
journey and look forward to keeping you informed of our progress.
Thank you for your continued support and trust.
In conclusion, as we navigate the ever-evolving digital
landscape, we remain committed to innovation, diversification, and
delivering value to our shareholders. We are grateful for your
trust and continued partnership.Warm regards,Carlos Moreira
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 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 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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