Wisekey International Hlds Ltd Financials

WSKEF

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2024 Currency USD FYE December

This page shows Wisekey International Hlds Ltd (WSKEF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).

Financial Health Signals

Financial Profile 20/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Wisekey International Hlds Ltd has an operating margin of -230.9%, meaning the company retains $-231 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -43.0% the prior year.

Growth

Wisekey International Hlds Ltd's revenue declined 61.6% year-over-year, from $30.9M to $11.9M. This contraction results in a growth score of 0/100.

Leverage

Wisekey International Hlds Ltd has elevated debt relative to equity (D/E of 3.58), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

100

With a current ratio of 4.71, Wisekey International Hlds Ltd holds $4.71 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Wisekey International Hlds Ltd generated -$17.8M in operating cash flow, capex of $571K consumed most of it, leaving -$18.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

2/9

Wisekey International Hlds Ltd passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

1.32x

For every $1 of reported earnings, Wisekey International Hlds Ltd generates $1.32 in operating cash flow (-$17.8M OCF vs -$13.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-27.1x

Wisekey International Hlds Ltd earns $-27.1 in operating income for every $1 of interest expense (-$27.4M vs $1.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$11.9M

YoY-61.6%

5Y CAGR-12.1%

Wisekey International Hlds Ltd generated $11.9M in revenue in fiscal year 2024. This represents a decrease of 61.6% from the prior year.

EBITDA

-$26.7M

YoY-110.6%

Wisekey International Hlds Ltd's EBITDA was -$26.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 110.6% from the prior year.

Free Cash Flow

-$18.3M

YoY-6.5%

Wisekey International Hlds Ltd generated -$18.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 6.5% from the prior year.

Net Income

-$13.4M

YoY+12.5%

Wisekey International Hlds Ltd reported -$13.4M in net income in fiscal year 2024. This represents an increase of 12.5% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$90.6M

YoY+491.7%

5Y CAGR+49.5%

Wisekey International Hlds Ltd held $90.6M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

36.1%

YoY-11.5pp

5Y CAGR-5.6pp

Wisekey International Hlds Ltd's gross margin was 36.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 11.5 percentage points from the prior year.

Operating Margin

-230.9%

YoY-187.9pp

5Y CAGR-140.4pp

Wisekey International Hlds Ltd's operating margin was -230.9% in fiscal year 2024, reflecting core business profitability. This is down 187.9 percentage points from the prior year.

Net Margin

-113.2%

YoY-63.6pp

5Y CAGR-146.1pp

Wisekey International Hlds Ltd's net profit margin was -113.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 63.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$7.0M

YoY+59.8%

5Y CAGR+1.8%

Wisekey International Hlds Ltd invested $7.0M in research and development in fiscal year 2024. This represents an increase of 59.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$571K

YoY-81.1%

5Y CAGR+14.3%

Wisekey International Hlds Ltd invested $571K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 81.1% from the prior year.

WSKEF Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$11.9M-61.6%	$30.9M+29.8%	$23.8M+35.0%	$17.6M+19.4%	$14.8M-34.8%	$22.7M
Cost of Revenue	$7.1M-54.9%	$15.8M+15.9%	$13.6M+37.3%	$9.9M+15.3%	$8.6M-33.4%	$12.9M
Gross Profit	$4.3M-70.9%	$14.7M+46.1%	$10.1M+35.5%	$7.5M+36.4%	$5.5M-42.2%	$9.5M
R&D Expenses	$7.0M+59.8%	$4.4M+13.9%	$3.9M-31.3%	$5.6M-6.6%	$6.0M-6.4%	$6.4M
SG&A Expenses	$16.3M-5.6%	$17.3M+50.8%	$11.5M-18.5%	$14.1M+31.8%	$10.7M-32.4%	$15.8M
Operating Income	-$27.4M-106.2%	-$13.3M-27.4%	-$10.4M+50.7%	-$21.2M-14.2%	-$18.5M+9.6%	-$20.5M
Interest Expense	$1.0M+62.3%	$624K+271.4%	$168K-84.1%	$1.1M+47.2%	$718K-0.8%	$724K
Income Tax	$3.1M+1241.7%	$230K+107.1%	-$3.2M-25007.7%	$13K+44.4%	$9K-30.8%	$13K
Net Income	-$13.4M+12.5%	-$15.4M+44.1%	-$27.5M-14.0%	-$24.1M+16.6%	-$28.9M-487.8%	$7.5M
EPS (Diluted)	N/A	N/A	$-0.24+14.3%	$-0.28+58.2%	$-0.67-391.3%	$0.23

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WSKEF Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$114.7M+139.9%	$47.8M-3.4%	$49.5M-44.3%	$88.8M+67.9%	$52.9M+6.0%	$49.9M
Current Assets	$100.5M+234.0%	$30.1M-11.1%	$33.9M-20.3%	$42.5M+10.0%	$38.7M+63.9%	$23.6M
Cash & Equivalents	$90.6M+491.7%	$15.3M-26.1%	$20.7M-39.5%	$34.2M+74.1%	$19.6M+62.1%	$12.1M
Inventory	$1.4M-72.9%	$5.2M-30.4%	$7.5M+177.1%	$2.7M+9.5%	$2.5M-11.2%	$2.8M
Accounts Receivable	$4.3M-21.7%	$5.5M+112.6%	$2.6M-13.6%	$3.0M+2.7%	$2.9M-23.1%	$3.8M
Goodwill	$8.3M0.0%	$8.3M0.0%	$8.3M0.0%	$8.3M0.0%	$8.3M0.0%	$8.3M
Total Liabilities	$89.6M+235.5%	$26.7M+4.9%	$25.5M-46.3%	$47.4M+23.3%	$38.5M+30.5%	$29.5M
Current Liabilities	$21.3M+12.8%	$18.9M+0.4%	$18.8M-23.9%	$24.8M-0.9%	$25.0M+24.0%	$20.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$25.0M+22.7%	$20.4M-22.3%	$26.3M-26.8%	$35.9M+120.6%	$16.3M-26.1%	$22.0M
Retained Earnings	-$294.4M-4.8%	-$281.0M-5.8%	-$265.6M-11.5%	-$238.2M-9.3%	-$217.8M-15.2%	-$189.2M

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Total Assets	$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%	$67.2M
Current Assets	$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	N/A
Cash & Equivalents	$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%	$9.6M
Inventory	$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	N/A
Accounts Receivable	$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	N/A
Goodwill	$8.3M0.0%	$8.3M0.0%	$8.3M0.0%	$8.3M0.0%	$8.3M0.0%	$8.3M0.0%	$8.3M0.0%	$8.3M
Total Liabilities	$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%	$58.4M
Current Liabilities	$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	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$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%	$8.7M
Retained Earnings	-$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	N/A

WSKEF Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$17.8M-25.1%	-$14.2M+17.1%	-$17.1M+21.3%	-$21.8M-73.6%	-$12.6M+9.7%	-$13.9M
Capital Expenditures	$571K-81.1%	$3.0M+897.0%	$303K+741.7%	$36K-30.8%	$52K-82.3%	$293K
Free Cash Flow	-$18.3M-6.5%	-$17.2M+1.3%	-$17.4M+20.1%	-$21.8M-73.2%	-$12.6M+11.2%	-$14.2M
Investing Cash Flow	$179K+105.9%	-$3.0M-524.2%	-$484K+80.8%	-$2.5M+35.2%	-$3.9M-110.6%	$36.6M
Financing Cash Flow	$92.9M+684.1%	$11.8M+183.2%	$4.2M-88.7%	$37.0M+72.1%	$21.5M+24.3%	$17.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$0
Share Buybacks	N/A	$2K-98.0%	$102K	N/A	$1.1M+10.7%	$1.0M

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WSKEF Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	36.1%-11.5pp	47.7%+5.3pp	42.4%+0.2pp	42.2%+5.2pp	37.0%-4.8pp	41.7%
Operating Margin	-230.9%-187.9pp	-43.0%+0.8pp	-43.8%+76.1pp	-119.9%+5.5pp	-125.4%-34.9pp	-90.5%
Net Margin	-113.2%-63.6pp	-49.7%+65.7pp	-115.4%+21.2pp	-136.5%+59.1pp	-195.6%-228.5pp	32.9%
Return on Equity	N/A	N/A	N/A	N/A	N/A	33.9%
Return on Assets	-11.7%+20.4pp	-32.1%+23.4pp	-55.5%-28.4pp	-27.1%+27.5pp	-54.7%-69.6pp	14.9%
Current Ratio	4.71+3.1	1.59-0.2	1.80+0.1	1.72+0.2	1.55+0.4	1.17
Debt-to-Equity	3.58+2.3	1.31+0.3	0.97-0.4	1.32-1.0	2.36+1.0	1.34
FCF Margin	-154.5%-98.8pp	-55.7%+17.5pp	-73.3%+50.4pp	-123.7%-38.4pp	-85.3%-22.7pp	-62.6%

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	4.71+3.1	1.59-0.2	1.80+0.1	1.72+0.2	1.55+0.4	1.17+0.2	0.92	N/A
Debt-to-Equity	3.58+2.3	1.31+0.3	0.97-0.4	1.32-1.0	2.36+1.0	1.34-14.0	15.33+8.6	6.70
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Wisekey International Hlds Ltd's annual revenue?

Wisekey International Hlds Ltd (WSKEF) reported $11.9M in total revenue for fiscal year 2024. This represents a -61.6% 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 Hlds Ltd's revenue growing?

Wisekey International Hlds Ltd (WSKEF) revenue declined by 61.6% year-over-year, from $30.9M to $11.9M in fiscal year 2024.

Is Wisekey International Hlds Ltd profitable?

No, Wisekey International Hlds Ltd (WSKEF) reported a net income of -$13.4M in fiscal year 2024, with a net profit margin of -113.2%.

What is Wisekey International Hlds Ltd's EBITDA?

Wisekey International Hlds Ltd (WSKEF) had EBITDA of -$26.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Wisekey International Hlds Ltd's gross margin?

Wisekey International Hlds Ltd (WSKEF) had a gross margin of 36.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Wisekey International Hlds Ltd's operating margin?

Wisekey International Hlds Ltd (WSKEF) had an operating margin of -230.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Wisekey International Hlds Ltd's net profit margin?

Wisekey International Hlds Ltd (WSKEF) had a net profit margin of -113.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Wisekey International Hlds Ltd's free cash flow?

Wisekey International Hlds Ltd (WSKEF) generated -$18.3M in free cash flow during fiscal year 2024. This represents a -6.5% 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 Hlds Ltd's operating cash flow?

Wisekey International Hlds Ltd (WSKEF) generated -$17.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Wisekey International Hlds Ltd's total assets?

Wisekey International Hlds Ltd (WSKEF) had $114.7M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Wisekey International Hlds Ltd's capital expenditures?

Wisekey International Hlds Ltd (WSKEF) invested $571K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Wisekey International Hlds Ltd spend on research and development?

Wisekey International Hlds Ltd (WSKEF) invested $7.0M in research and development during fiscal year 2024.

What is Wisekey International Hlds Ltd's current ratio?

Wisekey International Hlds Ltd (WSKEF) had a current ratio of 4.71 as of fiscal year 2024, which is generally considered healthy.

What is Wisekey International Hlds Ltd's debt-to-equity ratio?

Wisekey International Hlds Ltd (WSKEF) had a debt-to-equity ratio of 3.58 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Wisekey International Hlds Ltd's return on assets (ROA)?

Wisekey International Hlds Ltd (WSKEF) had a return on assets of -11.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Wisekey International Hlds Ltd's cash runway?

Based on fiscal year 2024 data, Wisekey International Hlds Ltd (WSKEF) had $90.6M in cash against an annual operating cash burn of $17.8M. This gives an estimated cash runway of approximately 61 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 Wisekey International Hlds Ltd's Piotroski F-Score?

Wisekey International Hlds Ltd (WSKEF) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Wisekey International Hlds Ltd's earnings high quality?

Wisekey International Hlds Ltd (WSKEF) has an earnings quality ratio of 1.32x, considered low quality (accrual-driven). 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 Hlds Ltd cover its interest payments?

Wisekey International Hlds Ltd (WSKEF) has an interest coverage ratio of -27.1x, meaning it can struggle to cover its interest obligations. 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 Hlds Ltd?

Wisekey International Hlds Ltd (WSKEF) scores 20 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.