WISeKey Re-affirms its 2023 Growth Forecast; Expects to Exceed FY 2022 Revenue Guidance due to Steady Demand for Semiconductors
December 21 2022 - 1:00AM
WISeKey Re-affirms its 2023 Growth Forecast; Expects to Exceed FY
2022 Revenue Guidance due to Steady Demand for Semiconductors
WISeKey Re-affirms its 2023 Growth
Forecast;
Expects to Exceed FY 2022
Revenue Guidance due to Steady Demand for
Semiconductors
Projects FY
2022 revenue of
over $24.5
million, an
increase of more
than 10% as
compared to FY 2021,
despite
divestiture of
arago GmbH
Semiconductors order growth
accelerates; backlog of
$36 million for IoT
Semiconductor products stretches into
2024 and pipeline
of opportunities totals $100 million
ZUG,
Switzerland – December
21, 2022: Ad-Hoc announcement pursuant to
Article 53 of SIX Listing
Rules – WISeKey International Holding Ltd (NASDAQ:
WKEY / SIX: WIHN) (“WISeKey” or the “Company”), a leading Swiss
cybersecurity and IoT company re-affirmed its fiscal 2022
revenue forecasts as it reported solid 2022 revenue results of over
$24.5 million, an increase of more than 10% compared to FY 2021,
due to steady semiconductors demand and an ambitious roadmap to
develop the next generation of post-quantum chips.
Carlos Moreira, WISeKey’s Founder and CEO,
noted: “We continue to see solid demand for our semiconductors and
next generation post-quantum chips roadmap. We are making
substantial progress in the implementation of our post-quantum
algorithms in Secure Semiconductors MS6001/MS6003. During the last
two years, WISeKey has made considerable advancements in developing
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.”
Mr. Moreira added, “For FY 2022 we expect
total group revenue
to exceed $24.5 million, an
increase of more than
10%, as compared to $22.3 million
in 2021, despite
the divestiture of our AI segment. Also, we expect our revenue to
continue to grow in 2023, driven by a projected sales growth for
the IoT segment of at least 40%. We believe that due to our large
backlog of $36 million, which we expect to deliver within the next
48 months, our $100 million pipeline of opportunities, and the
significant investments we have made into 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, driven by our
$36 million
backlog and
our pipeline
of opportunities which
totals $100 million. These include:
- WISeKey’s new
SEAL/QUASARS (QUAntum resistant Secure ARchitectureS) project, a
radical Trusted Platform Module based innovative solution, based
upon the new WISeKey Secure RISC V platform. This project is paving
the way of the Post Quantum Cryptography era, with a hybrid
solution compliant with ANSSI’s recommendations.
-
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 the 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.
Wisekey (LSE:0RF1)
Historical Stock Chart
From Aug 2024 to Sep 2024
Wisekey (LSE:0RF1)
Historical Stock Chart
From Sep 2023 to Sep 2024