WISeKey Announces FY 2022 Preliminary Revenues of $25.6 Million, a 15% Increase from FY 2021, Despite the Divestiture of arago

Rhea-AI Summary

WISeKey International Holding Ltd reported preliminary FY 2022 revenues of $25.6 million, representing a 15% increase from FY 2021, despite divesting arago. The semiconductor segment drove this growth, contributing $23.2 million in revenues, up 38% from the previous year. The company has a robust backlog of $36 million for IoT products extending into 2024, with expectations of expanding its customer base significantly by 2023/2024.

Positive

• FY 2022 revenues increased by 15% to $25.6 million.
• Semiconductor segment revenues grew by 38% to $23.2 million.
• Strong backlog of $36 million for IoT products.

Negative

• None.

WISeKey Announces FY 2022 Preliminary Revenues of $25.6 Million, a 15% Increase from FY 2021, Despite the Divestiture of arago

Semiconductor FY 2022 revenues increased to $23.2 million, or 38% as compared to FY 2021

WISeKey’s strong backlog of $36 million for IoT products stretches into 2024

Geneva, Switzerland, January 13, 2023 – Ad-Hoc announcement pursuant to Art. 53 of SIX Listing Rules– WISeKey International Holding Ltd (NASDAQ: WKEY / SIX: WIHN) (“WISeKey” or the “Company”), a leading Swiss cybersecurity, AI and IoT company announced today its preliminary unaudited revenues for the year ended December 31, 2022. Consolidated revenues for FY 2022 were $25.6 million, increasing by 15% as compared to $22.3 million reported for FY 2021. The increase was achieved despite the divestiture of arago and it was mainly due to higher revenues from our semiconductors segment, which reported revenues of $23.2 million for the year.

Carlos Moreira, WISeKey’s Founder and CEO noted, “Since the beginning of 2021, demand for our IoT semiconductor products has been unprecedented and has reached a point that we are now sitting on a solid backlog of purchase orders totaling $36 million. While supply chain shortages in the semiconductor sector are not expected to continue in this coming year, we are well positioned to continue our growth due to our healthy backlog and growing pipeline of new opportunities which is now over $100 million.”

Mr. Moreira continued, “Our strong backlog has given us a great building block that allows our sales team to focus on new opportunities to expand our customer base and geographic footprint. As a result, we expect to see a significant increase in the number of customers served by WISeKey in this sector by 2023 / 2024.”

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 contacts:

WISeKey International Holding Ltd  Company Contact:  Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@wisekey.com

WISeKey Investor Relations (US)  Contact:  Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@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.

FAQ

What were WISeKey's revenues for FY 2022?

WISeKey reported preliminary revenues of $25.6 million for FY 2022.

How much did the semiconductor segment revenue increase in FY 2022?

The semiconductor segment's revenue increased by 38% to $23.2 million in FY 2022.

What is WISeKey's backlog for IoT products?

WISeKey has a backlog of $36 million for IoT products stretching into 2024.

What was the revenue growth percentage for WISeKey in FY 2022?

WISeKey experienced a revenue growth of 15% in FY 2022 compared to FY 2021.