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SEC filingRevenue accelerated 62% to $19.3M driven by trust services and new semiconductor contributions, lifting gross profit 115% to $9.2M at 47.9% margin, though operating loss expanded to -$47.7M on elevated expenses amid growth investments.
WISeKey delivered topline momentum in FY2025 with revenue climbing 62.4% to $19.3 million from $11.9 million in the prior year. This growth stemmed from robust demand in trust services for secure device identity across IoT applications, particularly smart home ecosystems, alongside contributions from semiconductors following the IC'Alps acquisition that brought ASIC revenue into consolidation scope in August 2025. Gross profit more than doubled to $9.2 million, up 115.2% from $4.3 million, expanding the gross margin to 47.9%. This margin improvement reflects a favorable product mix shift toward higher-margin trust services and semiconductor offerings, as customers increasingly prioritize post-quantum secure solutions amid regulatory pressures like the Executive Order on Cybersecurity's Software Bill of Materials requirements for supply chain integrity.
Despite revenue gains, operating income deteriorated to a -$47.7 million loss from -$27.4 million, reflecting a -73.9% year-over-year change. The wider shortfall arises from scaled investments in R&D, sales team development, and integration costs tied to recent acquisitions, which are positioning the Group for expanded market share in semiconductors and cybersecurity. Net income improved to a -$6.1 million loss from -$13.4 million, a 54.8% betterment, as gross profit expansion partially mitigated operating pressures.