Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
11 January 2024 - 8:20AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the
Securities Exchange Act of 1934
Date of report: January 10,
2024
Commission File Number: 001-41709
SEALSQ CORP
(Exact Name of Registrant as Specified in Charter)
N/A
(Translation of Registrant’s
name into English)
British Virgin Islands |
Avenue Louis-Casaï 58
1216 Cointrin, Switzerland |
Not Applicable |
(State or other jurisdiction of incorporation or organization) |
(Address of principal executive office) |
(I.R.S. Employer Identification No.) |
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:
☒ Form 20-F ☐ Form 40-F
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Date: January 10, 2024 |
SEALSQ CORP |
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By: |
/s/ Carlos Moreira |
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Name: Carlos Moreira |
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Title: Chief Executive Officer |
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By: |
/s/ Peter Ward |
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Name: Peter Ward |
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Title: Chief Financial Officer |
![SEAL Semiconductors](https://www.sec.gov/Archives/edgar/data/1951222/000119380524000039/image_001.jpg)
SEALSQ Announces FY 2023 Preliminary Unaudited
Revenue of $30 Million, Marking a 29% Increase Over FY 2022
Growth Driven by High Demand for Advanced Secure
Semiconductors
and Matter Certification Services
Tortola, British Virgin
Islands – January 10, 2024: 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:
| 1. | 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. |
| 2. | 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. |
| 3. | 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. |
| 4. | 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. |
| 5. | 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
Statements
This
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 Moreira
Chairman & CEO
Tel: +41 22 594 3000
info@sealsq.com
|
SEALSQ Investor Relations (US)
The Equity Group Inc.
Lena Cati
Tel: +1 212 836-9611 / lcati@equityny.com
Katie Murphy
Tel: +212 836-9612 / kmurphy@equityny.com |
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