Sealsq Corp Financials
Sealsq Corp (LAES) reported $18.3M in revenue for fiscal year 2025, up 66.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A massive equity-funded cash stockpile now defines the company, while operating spend still runs far ahead of revenue.
From FY2024 to FY2025, revenue rebounded from$11.0M to$18.3M . Gross margin recovered to47.3% , yet free cash flow fell to-$32.0M as SG&A and R&D expanded to more than twice sales, showing fresh capital is funding a larger operating platform before the income statement can absorb it.
The balance sheet is now cash-heavy and lightly indebted: cash of
This is not a fixed-asset-hungry model: capital spending was only
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Sealsq Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Sealsq Corp scores 8.71, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($579.2M) relative to total liabilities ($42.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Sealsq Corp passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Sealsq Corp reported a net loss of $34.2M while operations used $31.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Sealsq Corp reported an operating loss of $39.8M against $67K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Sealsq Corp generated $18.3M in revenue in fiscal year 2025. This represents an increase of 66.2% from the prior year.
Sealsq Corp's EBITDA was -$37.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 126.7% from the prior year.
Sealsq Corp reported -$34.2M in net income in fiscal year 2025. This represents a decrease of 61.3% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Sealsq Corp recorded an outflow of $32.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 199.2% from the prior year.
Sealsq Corp held $417.7M in cash against $989K in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Sealsq Corp's gross margin was 47.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 13.3 percentage points from the prior year.
Sealsq Corp's ROE was -7.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 20.3 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Sealsq Corp invested $12.5M in research and development in fiscal year 2025. This represents an increase of 150.3% from the prior year.
Sealsq Corp invested $743K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 30.1% from the prior year.
Not reported for fiscal year 2025.
LAES Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Revenue | $18.3M+66.2% | $11.0M-63.5% | $30.1M+29.6% | $23.2M+36.5% | $17.0M+18.7% | $14.3M |
| Cost of Revenue | $9.6M+32.7% | $7.3M-54.7% | $16.0M+20.7% | $13.3M+39.0% | $9.5M+17.2% | $8.1M |
| Gross Profit | $8.6M+131.5% | $3.7M-73.5% | $14.0M+43.4% | $9.8M+37.1% | $7.1M+31.5% | $5.4M |
| R&D Expenses | $12.5M+150.3% | $5.0M+26.3% | $3.9M+71.0% | $2.3M-24.3% | $3.0M-26.1% | $4.1M |
| SG&A Expenses | $25.8M+137.9% | $10.8M+25.4% | $8.6M+179.7% | $3.1M-38.0% | $5.0M-26.6% | $6.8M |
| Operating Income | -$39.8M-131.5% | -$17.2M-315.1% | -$4.1M-260.3% | $2.6M+151.2% | -$5.0M+41.3% | -$8.6M |
| Interest Expense | $67K+360.3% | $15K+198.2% | $5K-98.6% | $355K+112.6% | $167K+1987.5% | $8K |
| Income Tax | -$162K-105.3% | $3.1M+1271.1% | $225K+106.9% | -$3.2M-54183.3% | $6K+20.0% | $5K |
| Net Income | -$34.2M-61.3% | -$21.2M-548.7% | -$3.3M-156.6% | $5.8M+219.5% | -$4.8M+47.5% | -$9.2M |
| EPS (Diluted) | N/A | -$0.60 | -$0.21 | $0.41 | -$0.34 | -$7.09 |
LAES Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $504.2M+416.8% | $97.6M+249.3% | $27.9M+29.0% | $21.7M+82.9% | $11.8M | N/A |
| Current Assets | $449.6M+383.2% | $93.1M+359.2% | $20.3M+25.7% | $16.1M+95.5% | $8.2M | N/A |
| Cash & Equivalents | $417.7M+393.5% | $84.6M+1127.3% | $6.9M+70.0% | $4.1M+96.6% | $2.1M+12.8% | $1.8M |
| Inventory | $2.0M+41.9% | $1.4M-72.9% | $5.2M-30.3% | $7.5M+177.1% | $2.7M | N/A |
| Accounts Receivable | $12.9M+238.4% | $3.8M-24.3% | $5.1M+127.7% | $2.2M-14.9% | $2.6M | N/A |
| Goodwill | $5.7M | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $42.7M+102.4% | $21.1M-8.0% | $22.9M+6.8% | $21.4M-15.6% | $25.4M | N/A |
| Current Liabilities | $28.2M+67.2% | $16.9M+93.8% | $8.7M-18.0% | $10.6M+37.0% | $7.8M | N/A |
| Long-Term Debt | $989K | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $461.5M+503.4% | $76.5M+1515.0% | $4.7M+2134.0% | $212K+101.6% | -$13.6M-44.7% | -$9.4M |
| Retained Earnings | -$76.1M-81.6% | -$41.9M-102.4% | -$20.7M-18.7% | -$17.4M+24.9% | -$23.2M | N/A |
LAES Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$31.3M-208.7% | -$10.1M-268.8% | -$2.7M-715.5% | $446K+113.3% | -$3.4M-11.3% | -$3.0M |
| Capital Expenditures | $743K+30.1% | $571K-81.1% | $3.0M+910.4% | $299K+730.6% | $36K-30.8% | $52K |
| Free Cash Flow | -$32.0M-199.2% | -$10.7M-85.5% | -$5.8M-4022.4% | $147K+104.3% | -$3.4M-10.6% | -$3.1M |
| Investing Cash Flow | -$35.3M-6084.2% | -$571K+81.1% | -$3.0M-910.4% | -$299K-730.6% | -$36K-122.1% | $163K |
| Financing Cash Flow | $399.5M+351.9% | $88.4M+924.9% | $8.6M+392.9% | $1.8M-49.5% | $3.5M+23.5% | $2.8M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LAES Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Gross Margin | 47.3%+13.3pp | 34.0%-12.8pp | 46.7%+4.5pp | 42.2%+0.2pp | 42.0%+4.1pp | 38.0% |
| Operating Margin | -218.0% | -156.5% | -13.8%-24.9pp | 11.1%+40.8pp | -29.7%+30.3pp | -60.0% |
| Net Margin | -187.3% | -193.1% | -10.9%-35.7pp | 24.9%+53.3pp | -28.4%+35.9pp | -64.3% |
| Return on Equity | -7.4%+20.3pp | -27.7%+41.3pp | -69.0%-2790.7pp | 2721.7% | N/A | N/A |
| Return on Assets | -6.8%+14.9pp | -21.7%-10.0pp | -11.7%-38.3pp | 26.6%+67.4pp | -40.8% | N/A |
| Current Ratio | 15.92+10.4x | 5.51+3.2x | 2.33+0.8x | 1.52+0.5x | 1.06 | N/A |
| Debt-to-Equity | 0.00-0.3x | 0.28-4.6x | 4.84-96.3x | 101.17 | N/A | N/A |
| FCF Margin | -175.3% | -97.4%-78.2pp | -19.2%-19.8pp | 0.6%+20.6pp | -20.0%+1.5pp | -21.5% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Sealsq Corp Ranks
Frequently Asked Questions
What is Sealsq Corp's annual revenue?
Sealsq Corp (LAES) reported $18.3M in total revenue for fiscal year 2025. This represents a 66.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Sealsq Corp's revenue growing?
Sealsq Corp (LAES) revenue grew by 66.2% year-over-year, from $11.0M to $18.3M in fiscal year 2025.
Is Sealsq Corp profitable?
No, Sealsq Corp (LAES) reported a net income of -$34.2M in fiscal year 2025.
What is Sealsq Corp's EBITDA?
Sealsq Corp (LAES) had EBITDA of -$37.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Sealsq Corp have?
As of fiscal year 2025, Sealsq Corp (LAES) had $417.7M in cash and equivalents against $989K in long-term debt.
What is Sealsq Corp's gross margin?
Sealsq Corp (LAES) had a gross margin of 47.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Sealsq Corp's return on equity (ROE)?
Sealsq Corp (LAES) has a return on equity of -7.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Sealsq Corp's free cash flow?
Sealsq Corp (LAES) recorded an outflow of $32.0M in free cash flow during fiscal year 2025. This represents a -199.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Sealsq Corp's operating cash flow?
Sealsq Corp (LAES) recorded an outflow of $31.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Sealsq Corp's total assets?
Sealsq Corp (LAES) had $504.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Sealsq Corp's capital expenditures?
Sealsq Corp (LAES) invested $743K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Sealsq Corp spend on research and development?
Sealsq Corp (LAES) invested $12.5M in research and development during fiscal year 2025.
What is Sealsq Corp's current ratio?
Sealsq Corp (LAES) had a current ratio of 15.92 as of fiscal year 2025, which is generally considered healthy.
What is Sealsq Corp's debt-to-equity ratio?
Sealsq Corp (LAES) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sealsq Corp's return on assets (ROA)?
Sealsq Corp (LAES) had a return on assets of -6.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sealsq Corp's cash runway?
Based on fiscal year 2025 data, Sealsq Corp (LAES) had $417.7M in cash against an annual operating cash burn of $31.3M. This gives an estimated cash runway of approximately 160 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Sealsq Corp's Altman Z-Score?
Sealsq Corp (LAES) has an Altman Z-Score of 8.71, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Sealsq Corp's Piotroski F-Score?
Sealsq Corp (LAES) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Sealsq Corp's earnings high quality?
Sealsq Corp (LAES) reported a net loss of $34.2M while operations used $31.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Sealsq Corp cover its interest payments?
Sealsq Corp (LAES) reported an operating loss of $39.8M against $67K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Sealsq Corp?
Sealsq Corp (LAES) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.