STOCK TITAN

SEALSQ H1 2026 sales surge to $11.2M, loss $27.8M

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

SEALSQ Corp (LAES) reported H1 2026 net sales of $11.2 million, an increase of 131% from $4.8 million in H1 2025, driven by renewed demand for Vault-IC secure elements, growth in PKI subscriptions and digital identity services, and contributions from acquired IC’Alps.

Gross profit rose to $5.4 million, up 233%, with higher-margin ASIC design revenue improving gross margin, but operating loss widened to $32.2 million and net loss to $27.8 million as SEALSQ increased R&D, selling, and G&A spending to support its post-quantum roadmap and Sovereign Vertical Stack. EBITDA was a loss of $29.5 million. Cash, cash equivalents and restricted cash totaled $486.1 million at June 30, 2026, within total assets of $614.6 million and shareholders’ equity of $562.1 million.

Management reaffirmed FY2026 revenue guidance of $27–36 million, implying 50–100% growth over audited FY2025 revenue of $18.3 million, and highlighted an active commercial pipeline of more than $225 million in potential revenue through 2029, including over $100 million tied to post-quantum projects such as QS7001 and QVault TPM.

Positive

  • Revenue grew 131% to $11.2 million in H1 2026, supported by secure-element demand, PKI services and contributions from IC’Alps, with gross profit more than tripling to $5.4 million and gross margin expanding.
  • SEALSQ ended June 30, 2026 with $486.1 million in cash, cash equivalents and restricted cash, contributing to total shareholders’ equity of $562.1 million and providing substantial funding capacity for its post-quantum strategy.
  • Management reaffirmed FY2026 revenue guidance of $27–36 million, implying 50–100% growth over FY2025 revenue of $18.3 million, indicating continued expectations for strong top-line expansion.
  • The company reported an active commercial pipeline of more than $225 million in potential revenue through 2029, including over $100 million associated with post-quantum projects such as QS7001 and QVault TPM.

Negative

  • Net loss increased 39% to $27.8 million in H1 2026, with operating loss rising 51% to $32.2 million as research and development, selling and marketing, and general and administrative expenses grew sharply.
  • Non-GAAP EBITDA remained significantly negative at $(29.5) million in H1 2026 compared with $(20.9) million in H1 2025, reflecting the higher operating cost base.
  • Accumulated deficit widened to $103.8 million at June 30, 2026, up from $76.1 million at December 31, 2025, highlighting ongoing cumulative losses during the investment phase.

Filing Explained

The filing incorporates its report into registration documents and records 223,430,764 ordinary shares outstanding at June 30, 2026.

As a foreign private issuer’s interim report, this Form 6-K furnishes SEALSQ’s half-year report and related press release dated September 11, 2026. The company states that most of Exhibit 99.2 is incorporated by reference into its existing Form F-3 and Form S-8 registration statements, including their outstanding base prospectuses and supplements.

That action makes the reported information part of those registration materials; it does not itself state final terms for a specific securities takedown. A prospectus supplement is the document defined to state a takedown’s final size, price, and fees.

For ownership mechanics, the balance sheet reports 223,430,764 ordinary shares issued and outstanding at June 30, 2026, alongside 191,525,129 at December 31, 2025. The June 30 figure is the reported ordinary-share denominator for assessing existing holders’ ownership at that date.

A later prospectus supplement would be the document to review for final terms if a specific takedown is made.

Net sales H1 2026 $11.2 million US GAAP net sales for the six months ended June 30, 2026
Net sales H1 2025 $4.8 million US GAAP net sales for the six months ended June 30, 2025
Net loss H1 2026 $27.8 million Net loss for the six months ended June 30, 2026
EBITDA H1 2026 $(29.5) million Non-GAAP EBITDA for the six months ended June 30, 2026
Cash, cash equivalents and restricted cash $486.1 million Combined balance at June 30, 2026
Total assets $614.6 million Total assets as of June 30, 2026
Shareholders’ equity $562.1 million Total shareholders’ equity as of June 30, 2026
FY2026 revenue guidance $27–36 million Company-outlook range, 50%–100% growth over FY2025 revenue of $18.3 million
Commercial pipeline Over $225 million Potential revenue opportunities through 2029 as of September 9, 2026
Post-Quantum Technology technical
"SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions"
Post-quantum technology refers to new methods and tools designed to protect digital information against the powerful computing capabilities of future quantum computers. These advanced computers could potentially break current security systems, so post-quantum solutions act like upgraded locks that ensure data remains safe. For investors, understanding this technology is crucial because it influences the security of digital assets and the stability of financial systems in the evolving technological landscape.
Public Key Infrastructure technical
"integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services"
A public key infrastructure (PKI) is the system of digital keys, certificates and trusted procedures that proves who is on the other end of an electronic interaction and encrypts the data they exchange. Think of it as a verified digital mailroom and set of padlocks: one key is shared publicly to lock messages and a matching secret key unlocks them, which helps prevent fraud, supports secure transactions, regulatory compliance and preserves investor trust in a company’s digital operations.
EBITDA financial
"EBITDA is defined as Operating income/(loss) for the reporting period"
EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.
available-for-sale debt securities financial
"Available-for-sale debt securities, noncurrent"
A type of debt investment—like bonds or loans a company buys—that the company intends to hold for a while but may sell before it matures. Think of it as lending money with the option to sell the IOU; changes in its market value alter the company’s reported net worth now but usually don’t affect reported profit until the investment is actually sold, so investors watch these holdings for balance-sheet risk and potential future gains or losses.
noncontrolling interest financial
"Noncontrolling interest in consolidated subsidiaries"
The portion of a business owned by investors other than the controlling owner when one company has control of another; it represents outside shareholders’ share of the subsidiary’s assets and profits. For investors, it matters because those outside claims reduce the amount of profit and net assets attributable to the parent owner — similar to saying part of a pizza belongs to someone else — and thus affects earnings, book value and valuation.
deferred tax credits financial
"Deferred tax credits"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did SEALSQ Corp (LAES) perform financially in H1 2026?

SEALSQ generated $11.2 million in net sales in H1 2026, up from $4.8 million a year earlier, and gross profit rose to $5.4 million. However, it reported an operating loss of $32.2 million and a net loss of $27.8 million as operating expenses increased.

What is SEALSQ Corp (LAES)’s revenue guidance for FY2026?

SEALSQ reaffirmed FY2026 revenue guidance of $27–36 million, which represents expected growth of 50% to 100% compared with audited FY2025 revenue of $18.3 million. Management attributes the anticipated growth to its expanding secure semiconductor and post-quantum product portfolio.

What is SEALSQ Corp (LAES)’s liquidity position as of June 30, 2026?

As of June 30, 2026, SEALSQ reported $479.8 million in cash and cash equivalents and $6.3 million in restricted cash, for a combined $486.1 million. Total assets were $614.6 million, and total shareholders’ equity was $562.1 million, indicating a substantial capital base.

How large is SEALSQ Corp (LAES)’s commercial pipeline?

SEALSQ reported that, at September 9, 2026, its active business pipeline exceeded $225 million in potential revenue opportunities through 2029, including more than $100 million tied to post-quantum projects such as QS7001 and QVault TPM, subject to conversion and validation risks.

What drove SEALSQ Corp (LAES)’s revenue growth in H1 2026?

H1 2026 revenue growth was driven by renewed demand for Vault-IC secure-element products, continued growth in PKI subscriptions and digital identity services, initial revenue from the Quantix Edge Security design center, and about $2.5 million of revenue from IC’Alps acquired in August 2025.

What regions contributed most to SEALSQ Corp (LAES)’s H1 2026 revenue?

In H1 2026, North America generated $5.6 million, representing 50% of revenue. Europe, the Middle East and Africa contributed $3.7 million, or 33%, while Asia Pacific contributed $1.9 million, or 17%, reflecting a diversified geographic revenue base.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

 

FORM 6-K

 

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under the

Securities Exchange Act of 1934

 

For the month of September 2026

 

Commission File Number: 001-41709

 

 

 

SEALSQ CORP

(Exact Name of Registrant as Specified in Charter)

 

 

 

N/A

(Translation of Registrant’s name into English)

 

 

 

British Virgin Islands   Avenue Louis-Casaï 58
1216 Cointrin, Switzerland
  Not Applicable
(State or other jurisdiction of incorporation
or organization)
  (Address of principal executive office)   (I.R.S. Employer
Identification No.)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F          ☐ Form 40-F

 

 

 

 

The information contained in Exhibit 99.2 to this Report on Form 6-K, except for Sections 1.1, 1.2, 2.2.11, 2.2.12, 2.3, and 3.5 is hereby incorporated by reference into the registration statement on Form F-3 of the Company (File No. 333-290963), as amended, and the registration statement on Form S-8 of the Company (File No. 333-287139), and into the base prospectus and any prospectus supplement outstanding under each of the foregoing registration statements, to the extent not superseded by documents or reports subsequently filed or furnished by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

 

Exhibit No.   Description
99.1   Press release issued on September 11, 2026.
99.2   Half Year Report of SEALSQ Corp including Management’s Discussion and Analysis of Financial Condition and Results of Operations, issued on September 11, 2026.

 

1

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: September 11, 2026SEALSQ CORP
  
 By: /s/ Carlos Moreira
   Name: Carlos Moreira
   Title: Chief Executive Officer

 

 By: /s/ John O’Hara
   Name: John O’Hara
   Title: Chief Financial Officer

 

2

 

Exhibit 99.1

 

 

SEALSQ Reports H1 2026 Financial and Operational Results

Revenue Increases 131% to $11.2 Million; FY2026 Guidance Reaffirmed

 

Cash and Cash Equivalents of $486.1 Million at June 30, 2026, Support Continued R&D, Product Certification and Acquisition Integration

 

Conference Call to be Held on September 15 at 9:00am ET

 

Geneva, Switzerland - September 11, 2026 - SEALSQ Corp (NASDAQ: LAES) (“SEALSQ” or the “Company”), a company focused on developing and commercializing post-quantum semiconductor, PKI and trusted provisioning solutions, today announced its financial and operational results for the six-month period ended June 30, 2026.

 

H1 2026 Financial Highlights

 

Revenue increased 131% to $11.2 million, compared to revenue of $4.8 million in H1 2025.

 

Gross profit increased 233% to $5.4 million, compared to gross profit of $1.6 million in H1 2025; gross margin expanded to approximately 48%.

 

Operating loss was $32.2 million, compared to operating loss of $21.2 million in H1 2025.

 

Net loss was $27.8 million, compared to net loss of $20.0 million in H1 2025.

 

EBITDA loss was $29.5 million, compared to EBITDA loss of $20.9 million in H1 2025.

 

Cash, cash equivalents and restricted cash totaled $486.1 million at June 30, 2026; the broader liquidity measure including short-term investments was approximately $495 million.

 

FY2026 revenue guidance of $27 million to $36 million was reaffirmed.

 

The active business pipeline as of September 9, 2026, exceeded $225 million through 2029, including more than $100 million associated with the Company’s Post-Quantum projects, including the QS7001 and QVault TPM. These figures reflect management estimates and are subject to risks such as conversion risks, customer validation, and technical integration.

 

Revenue Growth and Business Drivers

 

H1 2026 revenue growth was driven primarily by renewed demand for SEALSQ’s Vault-IC secure-element product family, continued growth in PKI subscriptions and digital identity services, initial revenue from the Quantix Edge Security semiconductor design center in Murcia, Spain, and six months of consolidated revenue from IC’Alps SAS (“IC’Alps”).

 

 

 

 

IC’Alps, acquired in August 2025, contributed approximately $2.5 million of revenue during H1 2026 and expanded SEALSQ’s capabilities in custom ASIC design, secure semiconductor architecture and specialized engineering services.

 

North America generated $5.6 million, representing 50% of H1 2026 revenue. Europe, the Middle East and Africa generated $3.7 million, or 33%, while Asia Pacific generated $1.9 million, or 17%. The addition of ASIC design revenue and an improved product mix contributed to the increase in gross profit and the expansion of gross margin.

 

Investment in Growth and Explanation of Net Loss

 

SEALSQ recorded an operating loss of $32.2 million compared to operating loss of $21.2 million in H1 2025, and a net loss of $27.8 million during H1 2026 compared to net loss of $20.0 million in H1 2025. The increase primarily reflects planned investments supporting the post-quantum product roadmap, integration of acquired companies and expansion of the SEALQUANTUM Sovereign Vertical Stack.

 

R&D expenses increased to $8.7 million from $4.7 million, reflecting IC’Alps consolidation, product development, certification activities and acquisition-related amortization.

 

G&A expenses increased to $23.1 million from $13.8 million, reflecting acquired-business consolidation, expanded corporate infrastructure, intangible-asset amortization, and legal, audit, advisory and transaction costs.

 

Selling and marketing expenses increased to $7.2 million from $6.0 million as commercialization activity expanded.

 

These increases were partially offset by $3.8 million of additional gross profit and improved net non-operating income, including higher interest income on liquidity reserves.

 

Carlos Moreira, Founder, Chairman and CEO of SEALSQ noted, “The first half of 2026 was marked by a decisive transition for SEALSQ. Revenue increased by 131%, gross profit more than tripled, our gross margin expanded significantly as we integrated IC’Alps and benefited from stronger demand for our secure-element and PKI solutions. Our $27.8 million net loss reflects substantial investments in R&D, certification, acquisition integration, corporate infrastructure and our Root-to-Qubit strategy. Our priority for the remainder of the year is turning that investment into disciplined execution, production commitments and recurring revenue. With $486.1 million in cash, cash equivalents and restricted cash at June 30, 2026, we have the balance sheet to fund that transition on our own terms.”

 

John O’Hara, CFO of SEALSQ added, “H1 2026 results confirm strong top-line momentum, with revenue increasing from $4.8 million to $11.2 million and gross profit increasing from $1.6 million to $5.4 million. Higher interest and other non-operating income partially offset increased operating costs, resulting in a net loss of $27.8 million. Our liquidity position remains strong, and we intend to manage this capital carefully while prioritizing projects that support commercialization, strategic control and long-term value creation.”

 

2

 

 

Condensed Unaudited Financial Results

 

US GAAP - $ thousands  H1 2026   H1 2025   Change 
Net sales   11,151    4,825    +131%
Gross profit   5,408   1,626   +233%
Other operating income   1,432    1,662    -14%
Research and development expenses   (8,718)   (4,724)   +85%
Selling and marketing expenses   (7,181)   (6,025)   +19%
General and administrative expenses   (23,103)   (13,776)   +68%
Operating loss   (32,162)   (21,237)   +51%
Loss before income tax   (27,694)   (20,028)   +38%
Income tax income / (expense)   302    (2)   - 
Equity in losses of unconsolidated entities   (397)   -    - 
Net loss   (27,789)   (20,030)   +39%

 

EBITDA is defined as Operating income/(loss) for the reporting period before depreciation and amortization for the same reporting period.

 

Non-GAAP EBITDA Reconciliation

 

$ millions  H1 2026   H1 2025 
Operating loss as reported   (32.2)   (21.2)
Depreciation expense   0.4    0.3 
Amortization expense   2.3    - 
EBITDA   (29.5)   (20.9)

 

3

 

 

EBITDA is a non-GAAP financial measure provided for supplemental analysis. It should not be considered a substitute for operating loss, net loss or any other measure prepared in accordance with US GAAP.

 

Post-Quantum Product and Certification Progress

 

SEALSQ continued to advance commercialization of its post-quantum semiconductor portfolio during the first half of 2026.

 

QS7001 achieved NIST SP 800-90B Entropy Source Validation under ESV Certificate #E333.

 

QS7001 completed key Common Criteria fault-injection and side-channel resistance testing.

 

30 prospective customers and partners were evaluating the QVault TPM and QS7001 products at June 30, 2026.

 

Customer sampling of the QVault Trusted Platform Module advanced, and engineering samples of QVault TPM-185 were reported as available.

 

Initial commercial revenue from QS7001 and QVault TPM is expected toward the end of H2 2026, with a more significant contribution anticipated as customers complete technical integration and move into production in 2027 and beyond. Timing remains subject to laboratory review, certification, customer qualification and procurement.

 

Major Strategic Developments During the First Half of 2026

 

Completed the 100% acquisition of Miraex SA, adding quantum-photonics interconnect technology.

 

Increased ownership of Wecan Group to 55.5%, obtaining control and supporting AI-powered post-quantum compliance and digital identity solutions.

 

Participated as a lead investor in Quobly’s EUR115 million Series A financing.

 

Increased the Company’s commitment to EeroQ and its electrons-on-helium quantum computing technology.

 

Advanced the Quantix Edge Security project in Murcia, Spain, a EUR40 million sovereign semiconductor design and personalization initiative that generated initial H1 2026 revenue.

 

Progressed the SEALKAYNESQ initiative in India to support localized post-quantum semiconductor capabilities.

 

Expanded commercial and technology relationships with Lattice Semiconductor, GlobalFoundries and Parrot.

 

Began the commercial phase of Miraex’s quantum-photonics technology and continued integrating acquired technologies into the Root-to-Qubit architecture.

 

Increased the SEALQuantum Sovereign Vertical Stack allocation to $200 million. This strategic initiative allocates SEALSQ’s own capital to accelerate our post-quantum and quantum capabilities through targeted acquisitions and strategic partnerships aligned with SEALSQ’s semiconductor and quantum technology roadmap. More than $60 million has been committed to date across IC’Alps, Miraex, Quobly, Quantix Edge Security, ColibriTD, EeroQ, WISeSat and the Wecan Group, each of which directly supports SEALSQ’s product development, manufacturing, or go-to-market capabilities. 

 

4

 

 

Commercial Pipeline

 

At September 9, 2026, SEALSQ’s active business pipeline represented more than $225 million in potential revenue opportunities through 2029, including more than $100 million associated with our Post-Quantum projects, including the QS7001 and QVault TPM. These figures reflect management estimates and are subject to risks such as conversion risks, customer validation, and technical integration.

 

FY2026 Outlook

 

SEALSQ’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Forward Looking Statements” below.

 

SEALSQ reaffirmed FY2026 revenue guidance of $27 million to $36 million, representing expected growth of 50% to 100% compared with audited FY2025 revenue of $18.3 million. The anticipated full year growth is driven by the following factors:

 

Full-year consolidation of IC’Alps revenue.

 

Continued demand for Vault-IC secure elements.

 

Growth in recurring PKI and certificate-management revenue.

 

Initial commercialization of QS7001 and QVault TPM.

 

Revenue contributions from the Quantix Edge Security project.

 

Potential execution of custom post-quantum ASIC design programs.

 

Conference Call

 

SEALSQ will host a conference call to discuss these results on Tuesday, September 15, at 9:00 am ET (3:00 pm CET). If you wish to join the conference call, please use the dial-in information below:

 

Toll-Free Dial-In Number: 877-445-9755

 

International Dial-In Number: 201-493-6744

 

A simultaneous webcast of the call may be accessed online via the Investors section of SEALSQ’s website, https://www.sealsq.com/investors/events or click here.

 

The archived call will also be available on the Investors section of SEALSQ’s website, https://www.sealsq.com/investors/events.

 

5

 

 

ADDITIONAL UNAUDITED US GAAP FINANCIAL & OPERATIONAL DATA

 

Condensed Consolidated Statements of Comprehensive Income / (Loss) [as reported]

 

 

    Unaudited
6 months ended June 30,
 
USD’000, except earnings per share   2026     2025  
             
Net sales     11,151       4,825  
Cost of sales     (5,486 )     (2,956 )
Depreciation of production assets     (257 )     (243 )
Gross profit     5,408       1,626  
                 
Other operating income     1,432       1,662  
Research & development expenses     (8,718 )     (4,724 )
Selling & marketing expenses     (7,181 )     (6,025 )
General & administrative expenses     (23,103 )     (13,776 )
Total operating expenses     (37,570 )     (22,863 )
Operating loss     (32,162 )     (21,237 )
                 
Non-operating income     9,735       2,814  
Interest and amortization of debt discount     (1 )     (88 )
Non-operating expenses     (5,266 )     (1,517 )
Loss before income tax expense     (27,694 )     (20,028 )
                 
Income tax income / (expense)     302       (2 )
Equity in earnings of unconsolidated affiliates     (397 )     -  
Net loss     (27,789 )     (20,030 )
                 
Net loss attributable to noncontrolling interests     (77 )     -  
Net loss attributable to SEALSQ Corp     (27,712 )     (20,030 )
                 
Earnings per Ordinary Share (USD)                
Earnings per Ordinary Share                
Basic     (0.13 )     (0.17 )
Diluted     (0.13 )     (0.17 )
                 
Earnings per Ordinary Share attributable to SEALSQ Corp                
Basic     (0.13 )     (0.17 )
Diluted     (0.13 )     (0.17 )
                 
Earnings per F Share (USD)                
Earnings per F Share                
Basic     (0.64 )     (0.86 )
Diluted     (0.64 )     (0.86 )
                 
Earnings per F Share attributable to SEALSQ Corp                
Basic     (0.64 )     (0.86 )
Diluted     (0.64 )     (0.86 )
                 
Other comprehensive income / (loss), net of tax:                
Foreign currency translation adjustments     (614 )     10  
Unrealized gains on debt securities                
Unrealized holding gains / (losses) arising during the period     (1 )     23  
Defined benefit pension plans:                
Net gain arising during the period     138       75  
Other comprehensive income / (loss)     (477 )     108  
Comprehensive loss     (28,266 )     (19,922 )
                 
Other comprehensive loss attributable to noncontrolling interests     (93 )     -  
Other comprehensive income / (loss) attributable to SEALSQ Corp     (384 )     108  
                 
Comprehensive loss attributable to noncontrolling interests     (170 )     -  
Comprehensive loss attributable to SEALSQ Corp     (28,096 )     (19,922 )

 

6

 

 

Condensed Consolidated Balance Sheets [as reported]

 

USD’000, except par value  As of
June 30,
2026 (unaudited)
   As of
December 31,
2025
 
ASSETS        
Current assets        
Cash and cash equivalents   479,797    417,657 
Restricted cash, current   6,311    - 
Accounts receivable, net of allowance for doubtful accounts   21,706    12,944 
Inventories   2,101    2,012 
Prepaid expenses   1,440    880 
Investment, current   2,449    10,032 
Government assistance   6,613    4,579 
Other current assets   1,392    1,534 
Total current assets   521,809    449,638 
           
Noncurrent assets          
Loans receivable, noncurrent   -    31 
Deferred tax credits   4,479    2,295 
Property, plant and equipment, net of accumulated depreciation   5,014    3,770 
Intangible and crypto assets, net of accumulated amortization   30,405    20,953 
Operating lease right-of-use assets   5,874    6,113 
Finance lease right-of-use assets   87    126 
Goodwill   11,695    5,656 
Available-for-sale debt securities, noncurrent   128    129 
Investments in unconsolidated affiliates   836    4,259 
Investments in unconsolidated related party affiliates   9,617    9,958 
Other investments   24,454    1,000 
Other noncurrent assets   243    251 
Total noncurrent assets   92,832    54,541 
TOTAL ASSETS   614,641    504,179 
           
LIABILITIES          
Current Liabilities          
Accounts payable   23,850    16,818 
Notes payable   555    689 
Deferred revenue, current   1,010    25 
Current portion of obligations under operating lease liabilities   583    668 
Current portion of obligations under finance lease liabilities   35    57 
Income tax payable   -    3 
Other current liabilities   10,126    9,988 
Total current liabilities   36,159    28,248 
           
Noncurrent liabilities          
Bonds, mortgages and other long-term debt   696    989 
Deferred Revenue   1,064    - 
Operating lease liabilities, noncurrent   5,216    5,523 
Finance lease liabilities, noncurrent   55    72 
Deferred tax liability   5,805    4,367 
Employee benefit plan obligation   2,630    2,162 
Other noncurrent liabilities   877    1,310 
Total noncurrent liabilities   16,343    14,423 
TOTAL LIABILITIES   52,502    42,671 
           
Commitments and contingent liabilities          
           
SHAREHOLDERS’ EQUITY          
Common stock - Ordinary shares   2,234    1,915 
Par value - USD 0.01          
Authorized - 500,000,000 and 500,000,000          
Issued and outstanding - 223,430,764 and 191,525,129          
Common stock - F shares   75    75 
Par value - USD 0.05          
Authorized - 10,000,000 and 10,000,000          
Issued and outstanding - 1,499,800 and 1,499,800          
Share subscription in progress          
Additional paid-in capital   655,724    534,773 
Accumulated other comprehensive income / (loss)   468    852 
Accumulated deficit   (103,819)   (76,107)
Total shareholders’ equity attributable to SEALSQ Corp’s shareholders   554,682    461,508 
Noncontrolling interest in consolidated subsidiaries   7,457    - 
Total shareholders’ equity   562,139    461,508 
TOTAL LIABILITIES AND EQUITY   614,641    504,179 

 

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About SEALSQ:

 

SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable.

 

SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries.

 

For more information on our Post-Quantum Semiconductors and security solutions, please visit www.sealsq.com.

 

Forward-Looking Statements

 

This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. These statements may be identified by words such as “may”, “could”, “expects”, “hopes”, “intends”, “anticipates”, “plans”, “believes”, “scheduled”, “estimates”, “demonstrates” or words of similar meaning. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, including statements regarding revenue guidance, business pipeline opportunities, expected commercialization timing for the QS7001 and QVault TPM products, anticipated customer integration and production timelines, the SEALQUANTUM Sovereign Vertical Stack capital allocation targets, the expected benefits of acquisitions and strategic investments, growth drivers for FY2026, and the ability to realize returns from SEALSQ’s investments, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ’s ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; the adoption of post-quantum semiconductors and the development of quantum computers; the timing and success of product certifications, including laboratory review and NIST certification processes; customer qualification and procurement timelines; pipeline conversion risks and customer validation; the ability to successfully integrate acquired businesses, including IC’Alps, Miraex and Wecan Group; and the risks discussed in SEALSQ’s filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.

 

SEALSQ Corp 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.

 

Contacts

 

SEALSQ Corp
Carlos Moreira
Founder, Chairman and CEO
+41 22 594 3000
info@sealsq.com
SEALSQ Investor Relations (U.S.)
The Equity Group Inc.
Lena Cati
+1 212 836 9611
Lena.cati@theequitygroup.com

 

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