SEALSQ Announces 9-Month 2023 Unaudited Revenue of $22.1 Million, a 20.4% Increase From the 9-Month 2022 Period
October 05 2023 - 8:00AM
SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company that
focuses on developing and selling Semiconductors, PKI and
Post-Quantum technology hardware and software products, today
announced its unaudited revenue for the - month 2023 period ending
September 30, 2023.
For the first nine months of 2023, SEALSQ reported unaudited
revenue of $22.1 million, marking an impressive 20.4% growth
compared to the same period of last year.
Carlos Moreira, CEO of SEALSQ, said, “We are witnessing a robust
and consistent customer demand for our semiconductors and
Matter-related products, coupled with an upward trajectory in our
market share. Notably, we're driving innovation in pivotal domains
such as the integration of semiconductors with post-quantum
technologies, artificial intelligence, security, and cloud
services. This forward momentum fortifies our confidence in our
capacity to seize the abundant opportunities on the horizon."
Mr. Moreira added, “As previously announced, we expect FY 2023
revenue to increase by over 20% as compared to FY 2022. Our
confidence is supported by the successful execution of our growth
strategy strategically designed and executed across our various
operational domains.”
Our strategy is focused on several pillars including:
Amplification of Production and Supply Chain
Efficacy: We have vigorously expanded our production
capacity and honed the efficiency of our supply chain, particularly
to leverage the augmented demand from our existing, historically
steadfast customers, predominantly within the IT network
infrastructure segment.
Acquisition of New, Significant Business
Ventures: Our advanced MS600X secure platform has not only
proved its technological prowess but also acted as a catalyst in
capturing several monumental business opportunities, especially in
the realm of remote logical access control, further solidifying our
market position.
Maturation of Trust Services Business: Our
evolving Trust Services business, especially concerning
Semiconductor provisioning and managed Public Key Infrastructure
(PKI), is steadily morphing into a reliable stream of recurring
revenues, indicating a secure and growth-oriented future
trajectory.
Expansion of U.S. Market Presence: We have
decisively broadened our footprint in the competitive United States
market through a two-pronged approach: firstly, by expanding our
sales team to ensure a greater on-ground presence and, secondly, by
inking four pivotal sales distribution agreements, all
strategically aimed to bolster our market share.
Investment in Next-Gen Semiconductor
Technology: We've channelized investments into the
development of a new generation of Post-Quantum semiconductors,
namely Quasar, designed to deliver Provisioning and Managed-PKI
services within a uniquely vertically integrated value proposition,
which also includes the Matter PAA. Notably, SEALSQ has recently
achieved a significant milestone by gaining approval from the
Connectivity Standards Alliance (CSA) for Matter device
attestation, positioning us amongst a select few providers of
Matter PAA.
Mr. Moreira added, “SEALSQ’s focus remains laser-sharp. Our goal
is to persistently drive innovation, secure and nurture lucrative
business opportunities, and consistently deliver stellar products
and services to our esteemed clientele, thereby fortifying our
market presence 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 the expected benefits and costs of the intended spin-off
transaction, the expected timing of the completion of the spin-off
transaction and the transaction terms, SEALSQ's ability to
implement its growth strategies, 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.Company Contact:
Carlos MoreiraChairman & CEOTel: +41 22 594
3000info@sealsq.com |
SEALSQ Investor Relations
(US)Contact: Lena CatiThe Equity Group Inc.Tel: +1 212
836-9611lcati@equityny.com |
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