WISeKey Announces FY 2022 Revenue Guidance; Expects Revenue of $24.5 Million, an Increase of 10% as Compared to FY 2021, Despite Divestiture of arago GmbH
October 19 2022 - 1:00AM
WISeKey Announces FY 2022 Revenue Guidance; Expects Revenue of
$24.5 Million, an Increase of 10% as Compared to FY 2021, Despite
Divestiture of arago GmbH
WISeKey
Announces FY
2022 Revenue Guidance;
Expects Revenue of $24.5 Million, an Increase of 10% as Compared to
FY 2021, Despite Divestiture of arago
GmbH
Semiconductors
order growth
accelerates;
backlog of $37
million for IoT Semiconductors
products
stretches
into 2023
and pipeline
of opportunities totals $100
million
ZUG,
Switzerland – October 19,
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 Swiss cybersecurity and IoT company
announced today its FY 2022 revenue guidance and its outlook and
growth opportunities for 2023.
Carlos Moreira, WISeKey’s Founder and CEO,
noted: “We continue to see solid demand for our cybersecurity and
IoT technologies and our digital transformation is progressing
well. While the current geopolitical and macro-economic climate has
impacted many in our industry in 2022, WISeKey was not
significantly affected. The fundamental drivers across our business
are strong, and our semiconductors order growth is accelerating,
countering concerns about a short-term slowdown in our industry. We
are confident that steps we took to minimize the effect of these
macro-factors have paved the way for continued long term
growth.”
Mr. Moreira added, “For FY 2022 we expect
total group revenue to exceed
$24.5 million, an
increase of 10%,
as
compared to $22.3 million
in 2021, despite the divestiture of our
AI segment. Also, we expect our revenue to continue growing in
2023, driven by a projected sales growth for the IoT segment of at
least 35%. We believe that due to our large backlog of $37 million
which we expect to deliver within the next 48 months, our $100
million pipeline of opportunities and significant investment we
made in expanding our salesforce, we are well positioned to
continue to gain market share and expand our geographic footprint.
Furthermore, the divestiture of arago GmbH had a positive impact on
our liquidity, as it reduced cash burn by approximately 40% and
allowed us to focus on revenue generating
investments.”
Several revenue streams which are reaching maturity, should
contribute to our expected revenue growth for 2023. These
include:
-
Satellite-related
activities: We have started the
commercialization of the WISeSat PocketQube satellite
with 13 satellites now in orbit, launched with Space X. Our
strong partnership with Swiss Army to cooperate in the development
of Space related activities using WISeSAT/Fossa low orbit
PicoSatellites technology aims to establish the foundation for the
development of new capacities in the field of data security.
WISeKey is offering this IoT satellite
technology to its IoT clients in a SaaS model allowing both remote
and redundant urban IoT communications for companies seeking to
securely connect their assets. WISeKey Trust and Security solutions
offer unique integration into an end-to-end platform that
communicates in real-time with the WISeSat Satellite by ensuring
the authenticity, confidentiality, and integrity of the devices and
objects.
- WISe.ART NFT
platform: WISe.ART’s unique
competitive edge comes from its platform which is secured by
WISeKey’s various security technologies enabling the authentication
of digital identity based NFTs, physical objects as well as digital
assets, in a safe end-to-end process.
Almost 130 artists have already joined the WISe.ART NFT
Marketplace with approximately 500 unique NFT products, adding a
commercial NFT sales potential aggregate of $70 million worth of
NFTs that increasingly see a future for tokens that upend the
economics of content creation and influence on the internet.
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 Secures the
pervasive computing shaping today’s Internet of Everything. WISeKey
IoT has an install base of over 1.6 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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