WISeKey International Holding AG (WKEY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for FY2025, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WKEY SEC filings page.
WISeKey International Holding AG (WKEY) reported $19.3M in revenue for fiscal year 2025, up 62.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).
Balance-sheet expansion came through financing, while the operating business remained deeply cash-consuming despite a margin rebound.
Balance-sheet scale is financing-driven: total assets reached$514.6M in 2025 alongside$399.5M of financing cash inflow, while operating cash flow remained negative. Meanwhile, earnings and cash diverged: net profit margin improved to-31.5% , but free-cash-flow margin was-171.6% , so the reported loss understated the cash consumed.
Gross-margin recovery did not create operating leverage: gross margin rose from
Low conventional debt does not mean self-funding operations: debt-to-equity was 0.1x, yet operating cash flow was
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 WISeKey International Holding AG'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.
WISeKey International Holding AG held $439.4M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $32.4M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and WISeKey International Holding AG scores 96/100 among other emerging companies.
Not available for WISeKey International Holding AG, and counted as zero in the overall score.
WISeKey International Holding AG spent $14.9M on research and development in fiscal year 2025, which was 22.2% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and WISeKey International Holding AG scores 54/100 among other emerging companies.
WISeKey International Holding AG reported revenue of $19.3M in fiscal year 2025, against $11.9M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and WISeKey International Holding AG scores 18/100 among other emerging companies.
WISeKey International Holding AG's operations used $32.4M of cash in fiscal year 2025, against $17.8M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and WISeKey International Holding AG scores 16/100 among other emerging companies.
WISeKey International Holding AG's cash, cash equivalents and investments came to $439.4M at the end of fiscal year 2025, against $468.7M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and WISeKey International Holding AG scores 57/100 among other emerging companies.
WISeKey International Holding AG scores -0.02, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($69.7M) relative to total liabilities ($468.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
WISeKey International Holding AG passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
WISeKey International Holding AG reported a net loss of $6.1M while operations used $32.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
WISeKey International Holding AG reported an operating loss of $47.7M against $224K 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
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
WISeKey International Holding AG held $429.2M in cash against $2.4M in long-term debt as of Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
WKEY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
WKEY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q4'2410-K | Q4'2310-K | Q4'2210-K | Q4'2110-K | Q4'2010-K | Q4'1910-K | Q4'1810-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $514.6M+348.7% | $114.7M+139.9% | $47.8M-3.4% | $49.5M-44.3% | $88.8M+67.9% | $52.9M+6.0% | $49.9M-36.4% | $78.5M+16.8% |
| Current Assets | $455.8M+353.5% | $100.5M+234.0% | $30.1M-11.1% | $33.9M-20.3% | $42.5M+10.0% | $38.7M+63.9% | $23.6M-26.6% | $32.1M |
| Cash & Equivalents | $429.2M+373.8% | $90.6M+491.7% | $15.3M-26.1% | $20.7M-39.5% | $34.2M+74.1% | $19.6M+62.1% | $12.1M+32.5% | $9.1M-4.6% |
| Short-Term Investments | $10.0M | $0 | $0 | $0 | $0-100.0% | $9.2M | $0 | $0 |
| Inventory | $2.0M+41.9% | $1.4M-72.9% | $5.2M-30.4% | $7.5M+177.1% | $2.7M+9.5% | $2.5M-11.2% | $2.8M-33.4% | $4.2M |
| Accounts Receivable | $5.1M+19.2% | $4.3M-21.7% | $5.5M+112.6% | $2.6M-13.6% | $3.0M+2.7% | $2.9M-23.1% | $3.8M-50.5% | $7.6M |
| Long-Term Investments | $129K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $14.0M+68.0% | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% | $8.3M0.0% |
| Total Liabilities | $468.7M+422.8% | $89.6M+235.5% | $26.7M+4.9% | $25.5M-46.3% | $47.4M+23.3% | $38.5M+30.5% | $29.5M-60.4% | $74.5M+27.5% |
| Current Liabilities | $35.3M+65.4% | $21.3M+12.8% | $18.9M+0.4% | $18.8M-23.9% | $24.8M-0.9% | $25.0M+24.0% | $20.1M-42.2% | $34.9M |
| Non-Current Liabilities | $18.2M+191.0% | $6.2M-20.0% | $7.8M+17.6% | $6.6M-70.7% | $22.7M+68.2% | $13.5M+44.8% | $9.3M-76.5% | $39.6M |
| Long-Term Debt | $2.4M+59.2% | $1.5M | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $45.9M+83.3% | $25.0M+22.7% | $20.4M-22.3% | $26.3M-26.8% | $35.9M+120.6% | $16.3M-26.1% | $22.0M+353.2% | $4.9M-44.3% |
| Retained Earnings | -$300.5M-2.1% | -$294.4M-4.8% | -$281.0M-5.8% | -$265.6M-11.5% | -$238.2M-9.3% | -$217.8M-15.2% | -$189.2M+4.1% | -$197.3M |
WKEY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
WKEY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| WISeKey International Holding AG WKEY | FY2025 | $19.3M | -$6.1M | -31.5% | $69.7M | 40/100 |
| Mobix Labs, Inc. MOBX | FY2025 | $9.9M | -$46.1M | N/A | $20.1M | 35/100 |
| Pixelworks Inc PXLW | FY2025 | $693K | -$22.5M | N/A | $40.2M | — |
| GCT Semiconductor Holding, Inc. GCTS | FY2025 | $2.9M | -$43.4M | N/A | $195.0M | 17/100 |
| Intchains Group Limited ICG | FY2025 | $31.6M | -$6.8M | -21.5% | $63.0M | 52/100 |
| QuickLogic Corp QUIK | FY2025 | $13.8M | -$14.8M | N/A | $210.5M | 41/100 |
Where WISeKey International Holding AG Ranks
Frequently Asked Questions
What is WISeKey International Holding AG's annual revenue?
WISeKey International Holding AG (WKEY) reported $19.3M in total revenue for fiscal year 2025. This represents a 62.4% 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 WISeKey International Holding AG's revenue growing?
WISeKey International Holding AG (WKEY) revenue grew by 62.4% year-over-year, from $11.9M to $19.3M in fiscal year 2025.
Is WISeKey International Holding AG profitable?
No, WISeKey International Holding AG (WKEY) reported a net income of -$6.1M in fiscal year 2025, with a net profit margin of -31.5%.
What is WISeKey International Holding AG's EBITDA?
WISeKey International Holding AG (WKEY) had EBITDA of -$45.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does WISeKey International Holding AG have?
As of fiscal year 2025, WISeKey International Holding AG (WKEY) had $429.2M in cash and equivalents against $2.4M in long-term debt.
What is WISeKey International Holding AG's gross margin?
WISeKey International Holding AG (WKEY) had a gross margin of 47.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is WISeKey International Holding AG's net profit margin?
WISeKey International Holding AG (WKEY) had a net profit margin of -31.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is WISeKey International Holding AG's return on equity (ROE)?
WISeKey International Holding AG (WKEY) has a return on equity of -13.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is WISeKey International Holding AG's free cash flow?
WISeKey International Holding AG (WKEY) recorded an outflow of $33.1M in free cash flow during fiscal year 2025. This represents a -80.5% 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 WISeKey International Holding AG's operating cash flow?
WISeKey International Holding AG (WKEY) recorded an outflow of $32.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are WISeKey International Holding AG's total assets?
WISeKey International Holding AG (WKEY) had $514.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are WISeKey International Holding AG's capital expenditures?
WISeKey International Holding AG (WKEY) invested $743K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does WISeKey International Holding AG spend on research and development?
WISeKey International Holding AG (WKEY) invested $14.9M in research and development during fiscal year 2025.
What is WISeKey International Holding AG's current ratio?
WISeKey International Holding AG (WKEY) had a current ratio of 12.92 as of fiscal year 2025, which is generally considered healthy.
What is WISeKey International Holding AG's debt-to-equity ratio?
WISeKey International Holding AG (WKEY) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is WISeKey International Holding AG's return on assets (ROA)?
WISeKey International Holding AG (WKEY) had a return on assets of -1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is WISeKey International Holding AG's P/E ratio?
WISeKey International Holding AG (WKEY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $69.7M as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is WISeKey International Holding AG's price-to-sales ratio?
WISeKey International Holding AG (WKEY) trades at 3.6x sales, its market capitalization divided by revenue of $19.3M revenue, FY2025. The market capitalization is $69.7M as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is WISeKey International Holding AG's Altman Z-Score?
WISeKey International Holding AG (WKEY) has an Altman Z-Score of -0.02, placing it in the Distress Zone (elevated 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 WISeKey International Holding AG's Piotroski F-Score?
WISeKey International Holding AG (WKEY) 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 WISeKey International Holding AG's earnings high quality?
WISeKey International Holding AG (WKEY) reported a net loss of $6.1M while operations used $32.4M 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 WISeKey International Holding AG cover its interest payments?
WISeKey International Holding AG (WKEY) reported an operating loss of $47.7M against $224K 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 WISeKey International Holding AG?
WISeKey International Holding AG (WKEY) scores 40 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.