WISeKey Announces H1 2022 Preliminary Results; Reports Revenue of $13 Million, an Increase of Over 25% from H1 2021

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Wisekey International Holding SA
Wisekey International Holding SA

WISeKey Announces H1 2022 Preliminary Results; Reports Revenue of $13 Million, an Increase of Over 25% from H1 2021

Revenue increase was mainly due to increased demand on semiconductors / IoT; WISeKey’s H1 2022 semiconductor revenue increased 48% to $10.7 million from $7.2 million in H1 2021.

Following its refocus on the IoT / semiconductors / cybersecurity business, for FY 2022 WISeKey expects this segment to generate revenue within the range of $21 million to $23 million due to higher demand and new contracts; current purchase orders total $38.5 million and pipeline of opportunities total $75 million.

ZUG, Switzerland – July 12, 2022: Ad-Hoc announcements pursuant to SIX reporting requirements – WISeKey International Holding Ltd (NASDAQ: WKEY / SIX: WIHN) (“WISeKey” or the “Company”), a leading Swiss cybersecurity and IoT company announced today its preliminary unaudited financial results for the six-month period ended June 30, 2022 (“H1 2022”). All H1 2022 figures in this release are unaudited and estimated due to the preliminary nature of the announcement.

Carlos Moreira, WISeKey’s Founder and CEO, noted “IoT, Semiconductors and NFT are entering a new cycle of growth driven by in-car electronics, smart routers, AI-IoT devices, cloud processing, automation, IoT Satellites, 5G and connectivity features that make the world safer, connected and contributes to sustainability. WISeKey’s strategy continues to focus on developing cybersecurity IoT solutions and NFTs that enable our customers’ success and drive long-term growth.”

To meet these strategical objectives and refocus on the core business, in H1 2022 WISeKey completed the divestiture of arago GmbH (“arago). Although, the Company could not find the right fit for arago within the group and, despite its investment to streamline the business could not bring the performance of arago to the margin expectations, WISeKey will maintain a partnership with arago to consider potential added value brought on by AI capabilities.

WISeKey’s strong financial position of $23 million cash at the end of H1 2022 allows the Company to support investments in new products, IP, and faster growing IoT/cybersecurity markets. During 2022, WISeKey has made significant investments in R&D and new microchips design in order to maintain its leading-edge technology position and the competitive advantage of product offerings. WISeKey is also making progress on the commercialization of the WISeSat PocketQube Satellite with 13 satellites now in orbit launched with Space X.