WISeKey’s FY 2022 Semiconductor Revenue Continues to Surge; 2023 to
be a Truly Transformative Year with Revenues Expected to Grow by
Over 40% as compared to FY 2022
WISeKey’s FY
2022 Semiconductor Revenue Continues
to Surge;
2023 to be a Truly Transformative Year
with Revenues Expected to
Grow by
Over 40% as compared to
FY 2022
WISeKey’s IoT segment is
expected to generate FY
2022 revenue of approximately
$22.7 million, an
increase of over 34%
as compared to FY
2021 revenue of
$16.9 million.
For FY
2023,
WISeKey’s
semiconductor division
secured contracts support
a revenue increase
of over
40%,
as compared
to FY
2022, while pipeline of
opportunities amounts to $100
million.
https://www.wisekey.com/solutions/iot-connected-devices/iot-security/
ZUG, Geneva,
Switzerland – November
18, 2022: Ad-Hoc announcement pursuant
to Art. 53 of SIX Listing Rules – WISeKey
International Holding Ltd (NASDAQ: WKEY / SIX: WIHN) (“WISeKey” or
the “Company”), a leading cybersecurity, IoT, and AI platform
company, today announced that its Semiconductors IoT segment has
returned to pre-COVID levels and its FY 2022 revenue is expected to
be approximately $22.7 million, representing an increase of over
34% as compared to FY 2021. This trend is projected to continue in
2023 and the Company expects revenue for the year to increase over
40%, and reach record levels, due to higher semiconductors demand
and new contracts signed to secure medical equipment, drones,
routers, batteries, and smart meters.
The expected increase in FY 2022 revenue is
mainly linked to the U.S. and EU markets with some wins in Japan
and Taiwan. Recently WISeKey secured several major wins for its
microchip semiconductor based IoT technology, anti-counterfeiting,
brand protection, and secure access products with leading
providers of networking equipment, medical devices, routers, and
smart building solutions.
WISeKey’s semiconductor segment experienced
strong growth during the year, despite COVID related supply chain
disruptions which resulted in global semiconductor manufacturing
shortages and significantly impacted the global economy and
markets. Regardless of these shortages which are expected to
continue through 2024, during the year WISeKey was able to
successfully navigate and overcome these extraordinary challenges,
while 2023 is expected to be a fully transformative year.
The Authentication IC semiconductors and IoT
market is expected to continue growing in line with the growing
demand for semiconductors, and to support WISeKey Semiconductors’
growth based on its unique position as a trusted technology
provider as the world becomes more IoT and digitally driven, and
processing chips are widely used from smartphones to automobiles to
alarm systems, drones, and wearables.
WISeKey Semiconductors division is located in
the South of France. As a defender of European values, WISeKey is
currently working with the European Commission to help achieve the
goals of the EU Chips Act, with the understanding that this
technology has become a strategic reference due to the fact that
semiconductors are a crucial component of the 4th Industrial
Revolution: strategic technologies (from smart cities, renewable
energy and artificial intelligence to robots and cybersecurity),
the design and manufacturing of semiconductors has become a
geopolitical thorn.
Carlos Moreira, CEO of WISeKey noted, “Our
success in semiconductors is based upon our clear vision and
business strategy that allow us to generate revenue from IoT
devices, cybersecurity services, and data and, more importantly,
our Trusted Ecosystem and Vertical Platform. As we move forward,
IoT will quickly become the Internet of Everything (IoE), with more
devices and objects connected and able to collect and transmit data
over the internet, with the effect that the WISeKey Vertical
Platform potential for monetizing services, blockchain, AI and the
data produced by these connected devices continues to grow. As the
total number of global IoT connections continues to grow fast to
projected levels of $27 billion by 2025, from just $6 billion in
2015, all of these connected devices will require the type of chips
and software offered by WISeKey. We are well positioned to capture
market share as the global spending on IoT/IoE technology-based
services, is now expected to reach $3 trillion by 2025.”
WISeKey has also made substantial progress in
developing the next generation of semiconductors with post-quantum
resistant algorithms by establishing strategic R&D partnerships
with MINES Saint-Etienne Research Institute (“MINES
Saint-Etienne”), an internationally renowned multidisciplinary
university and lab created in 1816, aiming to help the
international community find cryptography algorithms that will
resist future quantum computing based cyber-attacks.
WISeKey’s team of experts is working with
several NIST’s candidates for the MS600X Common Criteria products:
Crystals-Kyber for key exchange mechanism, and Crystals-Dilithium
for signatures. The partnership is focusing on the practical
implementation aspects for both algorithms, considering physical
side-channel attack and deep learning process. This work completes
the implementation of NTRU and ROLLO algorithms that the team has
already studied, paving the way for a complete post-quantum
cryptography toolbox.
WISeKey Semiconductors manufactures security
chips to actively support European values in terms of consumer
protection, privacy, and data sovereignty. For example, WISeKey
security chips are being used to protect European drones and their
captured images, and to protect satellite communication from
logistics sensors.
The European Union is making significant
investments into chip production in an attempt to avert supply
chain disruptions. Addressing European lawmakers, Ursula von der
Leyen, President of the European Commission, noted that although
Europe’s global semiconductor market share is only 10% today, the
goal is for the European Union to supply 20% of the world’s
microchips’ production by 2030 (global chip production is expected
to double by 2030).
About WISeKey
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN)
is a leading global cybersecurity company currently deploying large
scale digital identity ecosystems for people and objects using
Blockchain, AI and IoT respecting the Human as the Fulcrum of the
Internet. WISeKey microprocessors secure the pervasive computing
shaping today’s Internet of Everything. WISeKey IoT has an install
base of over 1.5 billion microchips in virtually all IoT sectors
(connected cars, smart cities, drones, agricultural sensors,
anti-counterfeiting, smart lighting, servers, computers, mobile
phones, crypto tokens etc.). WISeKey is uniquely positioned
to be at the edge of IoT as our semiconductors produce a huge
amount of Big Data that, when analyzed with Artificial Intelligence
(AI), can help industrial applications to predict the failure of
their equipment before it happens.Our technology is Trusted by the
OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”)
provides secure authentication and identification, in both physical
and virtual environments, for the Internet of Things, Blockchain
and Artificial Intelligence. The WISeKey RoT serves as a common
trust anchor to ensure the integrity of online transactions among
objects and between objects and people. For more information,
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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