0001104659-26-053116
SEC filingWISeKey reported audited FY 2025 revenue of $19.3 million, up 62% year-over-year, with strong cash position over $535 million as of April 30, 2026, and reaffirmed FY 2026 revenue growth guidance of 50%-100%.
WISeKey's FY 2025 results reflect a transitional period, with revenue surging 62% to $19.3 million primarily from SEALSQ's 66% growth to $18.3 million, bolstered by renewed demand for semiconductors and PKI products, plus $3.5 million from IC’ALPS acquired in August 2025. Q4 revenue doubled to $8 million. Net loss widened 20% to $38.2 million due to $8.3 million non-cash share-based compensation, higher R&D, sales & marketing for post-quantum products, and IC’ALPS consolidation costs, offset by ExWorks loan settlement credit and interest income. Balance sheet strengthened significantly with $429 million cash at year-end, rising to over $535 million by April 30, 2026, after SEALSQ's $125 million raise in March, enabling post-quantum R&D, manufacturing scale-up, and acquisitions. Management reaffirms FY 2026 revenue growth of 50%-100%, driven by QS7001/QVault commercialization (late 2026 revenues post EAL 5+ certification), full-year IC’ALPS contribution, TPM expansion, QASIC programs, regulatory tailwinds like NSA CNSA 2.0, and PKI/OSPT recurring revenue. Q1 2026 unaudited revenue hit $4.2 million, over 200% YoY. SEALSQ's $200 million+ pipeline underscores demand for quantum-resistant security. CEO Carlos Moreira highlights shift to commercial acceleration with robust liquidity and pipeline positioning WISeKey as leader in secure digital ecosystems.