Wisekey Internat Stock Price, News & Analysis

WISeKey International Holding Ltd (NASDAQ: WKEY) reported preliminary results for the first nine months of 2022, revealing a 69% increase in revenue to $20.5 million compared to the same period in 2021. Q3 2022 revenue reached $7.9 million, a 44% rise year-over-year. The company holds a backlog of $37 million for IoT semiconductors and a pipeline of $100 million in opportunities. Despite challenges in the semiconductor supply chain, WISeKey's robust cash position of $20 million supports its growth initiatives.

WISeKey is selected as a solutions provider for Spain's Smart Agro Project, focusing on the digital transformation of the agri-food value chain. This initiative involves public-private collaboration among 11 Provincial Councils and over 30 companies. WISeKey will utilize its IoT technology and secure satellite communication to support project goals. The collaboration aims to enhance digital solutions in agriculture, leveraging WISeKey's expertise in cybersecurity and IoT, which includes over 1.6 billion microchips deployed across various sectors.

WISeKey has partnered with Gibraldrone to enhance drone technology through WISeSAT satellite communications and security solutions. Announced at the Smart Agrifood Summit in Málaga on September 29, 2022, this collaboration aims to provide end-to-end security for drone data services and connections. Gibraldrone, which is expanding its market capabilities, will utilize WISeKey’s IoT security connections to differentiate its services, including emergency support for forest fires and underwater inspections. This partnership underscores WISeKey’s commitment to innovation in the cybersecurity and IoT sectors.

WISeKey has been selected by ODIN Solutions to integrate its secure technology within ODIN's IoT sensors, leveraging VaultIC Secure elements and Satellite connectivity. This partnership aims to enhance business opportunities by combining expertise in IoT and cybersecurity for applications in Smart Cities, Smart Agriculture, and Industry 4.0. ODIN plans to use WISeKey’s technology to improve waste management, water quality monitoring, and other environmental initiatives. WISeKey's digital identity ecosystems support an extensive range of IoT sectors, with over 1.6 billion microchips deployed.

WISeKey has been invited to participate in the 2022 Clinton Global Initiative (CGI) Annual Meeting in New York, scheduled for September 19-20, focusing on its longstanding commitment to enhance digital identity management for underserved communities. The company aims to report on progress made since its 2006 pledge to provide digital identities to 1 billion people without proper legal identification. With a focus on digital identity as a human right, WISeKey's platform aligns with the UN's Sustainable Development Goals, promoting economic empowerment and connectivity.

WISeKey announced H1 2022 results with total revenue reaching $12.6 million, a notable increase of over 27% from H1 2021. The net income attributable to WISeKey stood at $2.4 million. Key growth drivers included a 48% revenue increase in semiconductors, totaling $10.7 million. The company reported a record backlog of $39 million in IoT semiconductor products. Cash reserves at the end of H1 2022 amounted to $23 million, enabling strategic investments despite component delivery slowdowns.

WISeKey International Holding Ltd (NASDAQ: WKEY) announced advancements in its Post-Quantum strategy aimed at enhancing cybersecurity through new Trust Services. These services utilize post-quantum encryption (PQE) for secure communications, leveraging hybrid signatures for backward compatibility. Aiming to support IoT projects, WISeKey plans to introduce its first Root of Trust using PQE algorithms later this year. Collaborations with NIST and French cybersecurity initiatives bolster their efforts against quantum threats, emphasizing a commitment to robust cybersecurity frameworks.

The press release details the beaching of the experimental ship Porrima off Mumbai due to severe weather, leading to a successful rescue of the crew by the Indian Coast Guard. Salvaging operations began on August 24, and there are plans for a refit in Singapore, with aspirations to participate in the FIFA World Cup in November 2022 and the Osaka World Expo in April 2025. Porrima aims to pioneer zero-emission maritime transport technologies, and in 2023, the company will launch a Blue Campus for education in sustainable ship design.

WISeKey International Holding Ltd. (NASDAQ: WKEY) recently held the Starlite Gala dinner auction in Marbella, raising a total of USD 500,000 through the sale of limited edition NFTs and physical artworks. The sales included pieces by renowned artist Pedro Sandoval, with notable NFT sales of "La Madonna el niño y el mini yoda" for USD 100,000 and "El Hijo de Matias" for USD 60,000. Proceeds support the Starlite Foundation and the Lágrimas y Favores Foundation, founded by actor Antonio Banderas.