SEALSQ Announces FY 2023 Preliminary Unaudited Revenue of $30 Million, Marking a 29% Increase Over FY 2022
11 January 2024 - 1:00AM
SEALSQ Corp ("SEALSQ" or "Company") (NASDAQ:
LAES), a leader in the development and sales of semiconductors,
PKI, and post-quantum technology hardware and software products,
today proudly announced the achievement of a significant milestone
with a revenue of $30 million, marking a 29% increase from FY 2022
and surpassing our Q3 outlook of growth in excess of 20%.
Carlos Moreira, CEO of SEALSQ, expressed
enthusiasm about the company's performance: "This year's revenue
growth is a testament to the strong market demand for our Secure
Elements and Matter-related products. Our innovative approaches in
integrating semiconductors with cutting-edge technologies like IoT
security, identity protection and cloud services have significantly
contributed to this success. We aim to continue this innovation
through the use of the latest emerging technologies such as
post-quantum computing and AI in the coming years. Our increasing
market share reflects the trust our customers place in our products
and services."
Looking ahead, Mr. Moreira noted, "2024 is
poised to be a transitional year for SEALSQ. While we anticipate a
temporary slowdown in revenue growth due to the market's shift
towards emerging semiconductor technologies, we expect to begin
generating revenue from new and developing sources including new
cyber trust mark standards and further growth in Matter
certification. Furthermore, the WISeSat picosatellite constellation
focused on enhancing satellite-IoT device connections, particularly
in low-connectivity areas, will open additional new revenue streams
by leveraging our semiconductor expertise. Finally, our investments
in post-quantum resistant technology research and development are
projected to yield strong returns from 2025 onwards."
Discussing SEALSQ's innovative project,
SEALCOIN, Mr. Moreira added, "As previously announced, SEALCOIN is
set to introduce a transformative new technology to the
Machine-to-Machine (M2M) economy, enabling billions of IoT devices
to conduct seamless data and currency exchanges. This novel
protocol will not only facilitate IoT interactions across various
companies but also expand beyond traditional currency exchange to a
comprehensive network of IoT-enabled transactions and
services."
SEALSQ's strategic pillars for sustained growth
include:
- Investing in
Next-Generation Semiconductor Technology: Investment in
the development of the Quasar Post-Quantum semiconductors, along
with the integration of Matter PAA, positions SEALSQ at the
forefront of the market. The company's recent CSA accreditation to
issue Matter device and node attestation certificates highlights
its status as a leading provider in this space.
- Expanding Presence in the
U.S. Market: SEALSQ has strategically increased its
footprint in the U.S. through a dual strategy: expanding the sales
team for better local presence and securing four major sales
distribution agreements to boost market share.
- Enhancing Production and
Supply Chain Efficiency: SEALSQ has significantly expanded
its production capacity and streamlined its supply chain to meet
the growing demand, particularly from long-standing customers in
the IT network infrastructure sector.
- Securing New Business
Opportunities: The MS600X secure platform has enabled
SEALSQ to capture significant new business ventures, especially in
remote logical access control, thus reinforcing its market
dominance.
- Developing Trust
Services: The evolving Trust Services division, focusing
on semiconductor provisioning and managed PKI, is becoming a stable
source of recurring revenue, indicative of a promising growth
trajectory.
Mr. Moreira concluded, "Our unwavering focus is
on driving innovation, securing and nurturing valuable business
opportunities, and delivering exceptional products and services to
our clients. We are committed to strengthening our market position
and ensuring sustainable growth."
About SEALSQ:SEALSQ focuses on
selling integrated solutions based on Semiconductors, PKI and
Provisioning services, while developing Post-Quantum technology
hardware and software products. Our solutions can be used in a
variety of applications, from Multi-Factor Authentication tokens,
Smart Energy, Smart Home Appliances, and IT Network Infrastructure,
to Automotive, Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to
cryptographic methods that are secure against an attack by a
quantum computer. As quantum computers become more powerful, they
may be able to break many of the cryptographic methods that are
currently used to protect sensitive information, such as RSA and
Elliptic Curve Cryptography (ECC). PQC aims to develop new
cryptographic methods that are secure against quantum attacks.For
more information please visit www.sealsq.com.
Forward-Looking StatementsThis
communication expressly or implicitly contains certain
forward-looking statements concerning SEALSQ Corp and its
businesses. Forward-looking statements include statements regarding
our business strategy, financial performance, results of
operations, market data, events or developments that we expect or
anticipates will occur in the future, as well as any other
statements which are not historical facts. Although we believe that
the expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and
unknown risks and are based upon a number of assumptions and
estimates which are inherently subject to significant uncertainties
and contingencies, many of which are beyond our control. Actual
results may differ materially from those expressed or implied by
such forward-looking statements. Important factors that, in our
view, could cause actual results to differ materially from those
discussed in the forward-looking statements include SEALSQ's
ability to implement its growth strategies; SEALSQ’s ability to
generate revenue from emerging new semiconductors; SEALSQ’s ability
to generate revenue from Matter certification and the new cyber
trust mark standards; the successful introduction of the WISeSat
picosatellite constellation; the success of SEALCOIN; the
development of the Trust Services division; SEALSQ's ability to
continue beneficial transactions with material parties, including a
limited number of significant customers; market demand and
semiconductor industry conditions; and the risks discussed in
SEALSQ's filings with the SEC. Risks and uncertainties are further
described in reports filed by SEALSQ with the SEC.
SEALSQ Corp 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.
SEALSQ Corp.Carlos
MoreiraChairman & CEOTel: +41 22 594 3000info@sealsq.com |
SEALSQ Investor Relations (US)The
Equity Group Inc.Lena CatiTel: +1 212 836-9611 /
lcati@equityny.comKatie MurphyTel: +212 836-9612 /
kmurphy@equityny.com |
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