WISeKey Announces Nine Month 2023 Unaudited Revenue of $22.6 Million; Reports a 21% Increase from the Nine Month 2022 Period
October 17 2023 - 12:00PM
WISeKey Announces Nine Month 2023
Unaudited Revenue of $22.6 Million; Reports a 21% Increase from the
Nine Month 2022 PeriodWISeKey Charts Path for Revenue
Expansion Beyond Cybersecurity and Semiconductors.
ZUG, Switzerland – October 17 ,
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 nine month 2023 unaudited revenue
of $22.6 million, for the period ended September 30, 2023, a 21%
increase from the nine month period ended September 30, 2022. The
company also ended the period with a strong cash position of $17
million.
"We continue to achieve robust revenue performance in an
ever-evolving market," stated Carlos Moreira, CEO of WISeKey. "In
just the first three quarters of the year, we have hit
record-breaking revenue, boasting double-digit growth in both, our
cybersecurity and semiconductor divisions. As we witness a scaling
acceleration in pivotal technologies such as post-quantum
computing, cloud infrastructure, AI, and security protocols,
WISeKey's deep-rooted expertise in networking, complemented by the
extensive scope of our portfolio, primes us for future
opportunities and successes."Peter Ward, CFO of WISeKey,
highlighted the company's financial health, noting, "Through
disciplined operations and strategic execution, in the first nine
months of 2023, we have seen significant revenue growth alongside
margin improvement and solid cash flow generation. We are set to
achieve our anticipated full year 2023 revenue increase of over 20%
as compared to full year 2022." This optimistic outlook, backed by
tangible fiscal metrics, underscores the company's resilience and
the successful execution of its strategic business plan while
navigating a complex business environment.
WISeKey has strategically positioned itself by focusing on the
rapidly evolving technology sectors through its three verticals
While the group's main revenue stream presently flows from its
cybersecurity and semiconductor operations, particularly through
SEALSQ Corp (NASDAQ: LAES) (“SEALSQ”), significant developments
indicate emerging financial potential within its other
ventures.
- SEALSQ leads the pack as the primary revenue generator for
WISeKey, cementing its status with a recent Nasdaq listing and a
significant private placement boost aimed at enhancing
quantum-ready semiconductor production and deployment of several
new next generation products, which are expected to generate
additional revenue growth in 2024/25. This pivotal move is designed
to meet the surging demand for advanced IoT products and tackle the
impending challenges posed by quantum computing, a market poised
for exponential growth.
Parallel to this, WISeKey's nascent ventures, WISeSat.Space and
WISe.ART, though still generating low revenue, are fast-tracking
their market presence.
- WISeSat.Space is making considerable strides in satellite
technology, with 17 WISeSat-ready satellites in orbit and strategic
agreements with entities like the Fossa System, Swiss Army, PLD
Space, and Smart Containers. These agreements not only underscore
the subsidiary's innovative approach to satellite communication,
but forecast new revenue potential beginning next year. By tapping
into high-demand sectors like IoT, telecommunications, and
navigation systems, WISeSat.Space is set to revolutionize data
utility across various industries.
- In the digital art space, WISe.ART is capturing the boom in the
Digital Art and Token space. A recent investment nod from Hedera
has placed WISe.ART on the fast track to becoming a formidable
player in the secure digital transaction realm. This venture
represents more than a diversification strategy; it's a
forward-thinking move to seize a significant share of the thriving
Digital Art marketplace, offering secure creation, sale, and
exchange platforms for artists, collectors, and investors.
WISeKey's strategic investments and partnerships across its
subsidiaries highlight its commitment to innovation and growth. By
maintaining a stronghold in cybersecurity and semiconductors with
SEALSQ, while nurturing the latent potential of WISeSat.Space and
WISe.ART, WISeKey is not just anticipating the future; it's
actively building it. The company's multifaceted approach balances
immediate revenue pursuits with investments in future-centric
technologies, setting the stage for a robust financial trajectory
in the coming years.
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 AG 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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