SEALSQ Provides Business Update During Its H1 2024 Earnings Call
SEALSQ Corp (NASDAQ: LAES) held its H1 2024 financial results conference call, describing it as a transitional year. Key highlights include:
- Revenue of $4.8 million for H1 2024
- R&D expenditure of $2.4 million
- Strong pipeline of $71 million in business opportunities
- Solid cash position of $18.9 million
The company is on track to launch Quantum-Resistant Secure Chips by Q4 2024. SEALSQ is expanding globally, negotiating with the Spanish government for a Semiconductor Design Center and incorporating SEALSQ USA The company identified four key growth areas and plans to deploy up to 10 billion SEALCOIN tokens in 2025, potentially impacting semiconductor sales.
SEALSQ Corp (NASDAQ: LAES) ha tenuto la sua conferenza sui risultati finanziari del primo semestre 2024, definendolo un anno di transizione. I principali punti salienti includono:
- Entrate di $4,8 milioni per il primo semestre 2024
- Spese di R&S di $2,4 milioni
- Forte pipeline di $71 milioni in opportunità di business
- Solida posizione di cassa di $18,9 milioni
L'azienda è pronta a lanciare i Quantum-Resistant Secure Chips entro il quarto trimestre del 2024. SEALSQ si sta espandendo a livello globale, negoziando con il governo spagnolo per un Centro di Design di Semiconduttori e incorporando SEALSQ USA. L'azienda ha identificato quattro aree chiave di crescita e prevede di distribuire fino a 10 miliardi di token SEALCOIN nel 2025, con potenziali impatti sulle vendite di semiconduttori.
SEALSQ Corp (NASDAQ: LAES) realizó su conferencia de resultados financieros del primer semestre de 2024, describiéndolo como un año de transición. Los aspectos más destacados incluyen:
- Ingresos de $4,8 millones para el primer semestre de 2024
- Gasto en I+D de $2,4 millones
- Fuerte cartera de $71 millones en oportunidades de negocio
- Sólida posición de efectivo de $18,9 millones
La empresa se encuentra en camino de lanzar los Quantum-Resistant Secure Chips para el cuarto trimestre de 2024. SEALSQ se está expandiendo globalmente, negociando con el gobierno español para un Centro de Diseño de Semiconductores e incorporando SEALSQ USA. La empresa ha identificado cuatro áreas clave de crecimiento y planea desplegar hasta 10 mil millones de tokens SEALCOIN en 2025, lo que podría impactar las ventas de semiconductores.
SEALSQ Corp (NASDAQ: LAES)는 2024년 상반기 재무 결과 컨퍼런스 콜을 개최하며 이를 전환의 해로 설명했습니다. 주요 하이라이트는 다음과 같습니다:
- 2024년 상반기 매출 $4.8백만
- R&D 지출 $2.4백만
- 비즈니스 기회로서의 강력한 파이프라인 $71백만
- 견고한 현금 보유액 $18.9백만
회사는 2024년 4분기까지 양자 저항 보안 칩을 출시할 계획입니다. SEALSQ는 글로벌로 확장 중이며, 스페인 정부와 반도체 디자인 센터를 위한 협상을 하고 SEALSQ USA를 통합하고 있습니다. 회사는 4개의 주요 성장 영역을 식별했으며, 2025년까지 최대 100억 개의 SEALCOIN 토큰을 배포할 계획으로, 이는 반도체 판매에 영향을 미칠 수 있습니다.
SEALSQ Corp (NASDAQ: LAES) a tenu sa conférence téléphonique sur les résultats financiers du premier semestre 2024, la qualifiant d'année de transition. Les points clés incluent :
- Revenus de 4,8 millions de dollars pour le premier semestre 2024
- Dépenses en R&D de 2,4 millions de dollars
- Forte pipeline de 71 millions de dollars en opportunités d'affaires
- Position de liquidité solide de 18,9 millions de dollars
L'entreprise est en voie de lancement des Puces de Sécurités Résistantes aux Quantums d'ici le quatrième trimestre 2024. SEALSQ s'expand à l'international, négociant avec le gouvernement espagnol pour un Centre de Design de Semiconducteurs et intégrant SEALSQ USA. L'entreprise a identifié quatre domaines clés de croissance et prévoit de déployer jusqu'à 10 milliards de jetons SEALCOIN en 2025, ce qui pourrait avoir des impacts sur les ventes de semi-conducteurs.
SEALSQ Corp (NASDAQ: LAES) hielt seine Telefonkonferenz zu den Finanzdaten des ersten Halbjahres 2024 und bezeichnete es als ein Übergangsjahr. Die wichtigsten Höhepunkte sind:
- Erlöse von 4,8 Millionen Dollar im ersten Halbjahr 2024
- F&E-Ausgaben von 2,4 Millionen Dollar
- Starke Pipeline von 71 Millionen Dollar an Geschäftsmöglichkeiten
- Solide Liquiditätsposition von 18,9 Millionen Dollar
Das Unternehmen ist auf dem richtigen Weg, um bis zum vierten Quartal 2024 quantensichere Chips einzuführen. SEALSQ expandiert global und verhandelt mit der spanischen Regierung über ein Halbleiter-Design-Zentrum und integriert SEALSQ USA. Das Unternehmen hat vier wichtige Wachstumsbereiche identifiziert und plant, bis 2025 bis zu 10 Milliarden SEALCOIN-Token auszugeben, was potenzielle Auswirkungen auf den Verkauf von Halbleitern haben könnte.
- Strong pipeline of $71 million in business opportunities
- Solid cash position of $18.9 million
- On track to launch Quantum-Resistant Secure Chips by Q4 2024
- Global expansion initiatives in Spain and the United States
- Planned deployment of 10 billion SEALCOIN tokens in 2025, potentially boosting semiconductor sales
- Revenue decline to $4.8 million for H1 2024
- Slowdown in traditional semiconductor demand
- Decrease in orders for legacy semiconductor products
- Challenges in acquiring revenue due to the infancy of post-quantum technology
Insights
SEALSQ's H1 2024 results reflect a transitional period marked by industry-wide challenges. Revenue of
Key points to consider:
- R&D investment of
$2.4 million focused on next-gen post-quantum chips - Robust pipeline of
$71 million in business opportunities - Global expansion efforts, including potential facilities in Spain, USA, Middle East and Far East
- Launch of Quantum-Resistant Secure Chips expected in Q4 2024
While current financials are subdued, SEALSQ's strategic positioning in post-quantum cryptography and planned product launches in 2025 could drive significant future growth. The integration of SEALCOIN with semiconductors presents an intriguing revenue opportunity. Investors should monitor the company's ability to execute on its ambitious plans and capitalize on the emerging post-quantum security market.
SEALSQ's focus on post-quantum cryptography (PQC) hardware and software solutions positions it at the forefront of a critical emerging technology. The anticipated "Q-Day" threat underscores the urgency for quantum-resistant security measures across industries.
Key technological developments:
- QS7001 and QVault TPM chips scheduled for Q4 2024 release
- Integration of PQC with 25 years of PKI experience
- Establishment of OSAT cybersecurity chip design centers
- Potential for custom ASIC solutions
The company's strategy to embed SEALCOIN into semiconductors could create a unique value proposition, potentially driving adoption of their PQC solutions. However, the success of this approach depends on market acceptance and regulatory considerations.
While SEALSQ faces near-term challenges due to the nascent stage of PQC technology, its early-mover advantage could be significant as the market matures. Investors should closely monitor the reception of SEALSQ's quantum-resistant products and their ability to secure key partnerships and customers in strategic sectors like energy, automotive and smart cities.
Geneva, Switzerland, Sept. 26, 2024 (GLOBE NEWSWIRE) -- SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today held its first half (H1) 2024 financial results conference call, during which Founder and CEO Carlos Moreira, along with CFO John O’Hara, provided key updates on the Company's financial performance, strategic initiatives, and future outlook.
The full version of the H1 2024 Unaudited Financial Results news release issued on September 25, 2024 can be found at https://www.sealsq.com/investors/news-releases/sealsq-announces-unaudited-first-half-2024-financial-results-and-updates-on-strategic-business-initiatives.
Also investors can access the archived audio webcast by visiting https://www.sealsq.com/investors/events/sealsq-h1-2024-financial-results-conference-call.
HIGHLIGHTS FROM THE EARNINGS CALL:
2024: A Transitional Year
Mr. Moreira opened the call by discussing SEALSQ's performance during H1 2024, describing it as a transitional period marked by the slowdown in traditional semiconductor demand, due to excess component inventories from legacy customers and a decrease in orders for legacy semiconductor products as customers await the company’s next-generation post-quantum chips.
Despite these challenges, Mr. Moreira emphasized that SEALSQ has a competitive edge in the market, and offers a unique integration of post-quantum cryptography (PQC) hardware and software solutions. SEALSQ's expertise in PQC, combined with the 25 years of experience of its parent company, WISeKey, in Public Key Infrastructure (PKI), position the Company to meet the upcoming challenges of "Q-Day."
Key Financial Metrics for H1 2024
Mr. O’Hara reported that revenue for H1 2024 was
Mr. O’Hara also noted SEALSQ’s strong pipeline of current and new business opportunities, which stood at
Progress on Strategic Initiatives
Mr. Moreira provided updates on the Company’s strategic initiatives, highlighting significant operational progress during H1 2024. SEALSQ expanded its U.S.-based sales team, made significant progress for the establishment of multiple OSAT cybersecurity chip design and customization centers, and forged new global partnerships. These initiatives are expected to strengthen SEALSQ's position in the markets it serves worldwide.
Mr. Moreira emphasized that SEALSQ is on track to launch its Quantum-Resistant Secure Chips, including the QS7001 and QVault TPM, by Q4 2024. Engineering samples of the QS7001 will be available for order in Q4 2024, with the TPM version ready by the end of the year. Some of SEALSQ's clients are already participating in testing the new chip’s performance.
Global Expansion Initiatives
During thecall, Mr. Moreira discussed SEALSQ's global expansion efforts, including ongoing negotiations with the Spanish government to establish a Semiconductor Design and Personalization Center in Murcia. This center is expected to open up new customer segments through Quantix Edges, a joint venture in Spain, targeting key industries such as solar energy, automotive manufacturing, and smart cities.
In addition, SEALSQ has incorporated SEALSQ USA Ltd in the United States as part of its strategy to develop a U.S.-based Outsourced Semiconductor Assembly and Test (OSAT) facility. This facility will focus on advanced testing and assembly services with an emphasis on post-quantum cryptography and artificial intelligence. Furthermore, SEALSQ is in negotiations for two significant projects in the Middle East and Far East to establish additional Semiconductor Personalization Centers, which are expected to drive growth and recurring revenue streams in 2025 and beyond.
Outlook for 2025 and Beyond
Mr. Moreira discussed SEALSQ's future opportunities, stating that the Company is well-positioned to capitalize on evolving global cybersecurity requirements. He stressed the urgency for companies to upgrade their technology infrastructure in anticipation of "Q-Day," the moment when quantum computing becomes capable of breaking traditional cryptographic keys. SEALSQ aims to provide comprehensive hardware and software solutions to help mitigate these risks.
SEALSQ also identified four key growth areas for SEALSQ: VaultIC chip sales, PKI and Root of Trust (RoT) services, quantum-resistant semiconductor sales, and opportunities for ASICs and custom solutions.
Another potential avenue for revenue growth in 2025 is the upcoming launch of SEALCOIN by WISeKey. Although WISeKey owns and operates the SEALCOIN project through a Special Purpose Vehicle (SPV) named SEALCOIN AG, the tokenomics and business model have been designed to embed SEALCOIN into SEALSQ semiconductors. The plan for 2025 is to gradually deploy up to 10 billion SEALCOIN tokens, which is expected to have a substantial impact on the initial sales of our current semiconductors and, even more significantly, on the future sales of our post-quantum semiconductors.
Q&A and Final Remarks
During the Q&A session, the company fielded questions about its strategic direction, partnerships, and expansion plans. Mr. Moreira ended the call by emphasizing SEALSQ's commitment to driving innovation and remaining at the forefront of post-quantum cybersecurity. While acknowledging shareholders' eagerness for revenue growth, he underlined the challenges and opportunities of scaling post-quantum technology in its infancy.
SEALSQ remains dedicated to developing groundbreaking post-quantum solutions, preparing for a return to growth in 2025 as customers recommence orders and the Company launches its new generation of semiconductors.
"We understand that some shareholders are eager to see this technology translate into revenue, growth, and profitability. However, it is important to note that, at this stage, revenue is challenging to acquire due to the technology's infancy. Nevertheless, it is expected to scale rapidly once fully deployed, positioning SEALSQ to become a significant player in the market. This trajectory mirrors that of other European semiconductor companies, which became industry giants once they reached maturity and gained a foothold in the U.S. market."
About SEALSQ
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, Medical and Healthcare and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information, please visit www.sealsq.com.
Forward-Looking Statements
This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the expected success of our technology strategy and solutions for IoMT Security for Medical and Healthcare sectors, SEALSQ's ability to implement its growth strategies, SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.
SEALSQ Corp 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.
Press and Investor Contacts
| SEALSQ Corp. Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@sealsq.com | SEALSQ Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / lcati@equityny.com Katie Murphy Tel: +212 836-9612 / kmurphy@equityny.com |
FAQ
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