WISeKey Raises Revenue Guidance for Full
Year 2023
Zug, Switzerland – November 15, 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 updated its full year (“FY”) 2023
revenue guidance to over $30 million, which represents an increase
by over 25% compared to revenue reported for FY 2022.
For the nine-month period ended September 30,
2023, WISeKey’s total unaudited revenue was $22.6 million, marking
a 21% increase from the nine-month period ended September 30, 2022.
Of note, the semiconductor segment revenue saw a 20% increase to
$22.1 million from $18.4 million in the nine-month period ended
September 30, 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’s diversified growth strategy is
beginning to bear fruit, as evident from the accelerated progress
at its semiconductors and cybersecurity sectors now delivering
supply chain logistics projects, such as the innovative Smart
Container initiative, and the increased level of investments and
demand for WISeSat.Space related services and blockchain
tokenization for the WISe.ART Digital Platform. While cybersecurity
and semiconductors remain WISeKey’s primary revenue sources, these
new ventures are demonstrating significant potential.
Carlos Moreira, CEO of WISeKey, discussing this
revenue evolution, stated, “We are witnessing a strong and
consistent customer demand for our cybersecurity, semiconductor
products and Matter-related offerings, along with a growing market
share. Our innovation efforts are especially noteworthy in areas
like integrating semiconductors with post-quantum technologies,
artificial intelligence, security, and cloud services. This
progress strengthens our belief in our ability to capitalize on the
numerous opportunities that lie ahead.”
Looking forward, Mr. Moreira added, “While 2024
is projected to be a year of transition for the WISeKey group,
marked by a temporary slowdown in growth due to market shifts
toward emerging new semiconductors at SEALSQ level, we are slowly
but surely introducing new revenue sources from other verticals. In
2025-2026, we expect to see full production recovery and revenue
surge in semiconductors, in additional to meaningful revenues to be
generated from new verticals.”
Mr. Moreira continued, “Specifically, in 2024,
we are strategically positioned to start generating revenue from
our innovative Low Orbit satellite initiatives,
notably in projects like Smart Container and Supply Chain
supervised by satellite connections. Additionally, we are
introducing a novel offering that encompasses the establishment of
dedicated centers for cybersecurity and IoT Semiconductors
personalization. This is a significant step in enhancing our
service portfolio and meeting the evolving needs of our clients.
Moreover, 2024 is set to be a pivotal year for our WISe.ART
platform, as it is expected to reach full maturity and
begin generating substantial transactional revenue. This growth
will be driven by the rich collection of digital art already hosted
on the platform, which we anticipate will attract significant
interest and engagement from the digital art community. Looking
further ahead, our sustained investments in the research and
development of post-quantum resistant technology
are projected to yield considerable returns starting from
2025/2026. This advancement is crucial in keeping pace with the
rapidly changing technological landscape and maintaining our
leadership in providing cutting-edge, secure solutions in an
increasingly digital world.”
About WISeKeyWISeKey
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)The Equity Group Inc.Contact:
Lena CatiTel: +1 212 836-9611 / lcati@equityny.comKatie MurphyTel:
+1 212 836-9612 / kmurphy@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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