Business
SEALSQ Announces 9-Month 2023 Unaudited Revenue of $22.1 Million, a 20.4% Increase From the 9-Month 2022 Period
Tortola, British Virgin Islands, Oct. 05, 2023 (GLOBE NEWSWIRE) -- SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company that focuses on developing
About this update from Sealsq Corp
[{"type":"text","content":"Tortola, British Virgin Islands, Oct. 05, 2023 (GLOBE NEWSWIRE) -- SEALSQ Corp (NASDAQ: LAES) (\"SEALSQ\" or \"Company\"), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced its unaudited revenue for the - month 2023 period ending September 30, 2023. For the first nine months of 2023, SEALSQ reported unaudited revenue of $22.1 million, marking an impressive 20.4% growth compared to the same period of last year. Carlos Moreira, CEO of SEALSQ, said, “We are witnessing a robust and consistent customer demand for our semiconductors and Matter-related products, coupled with an upward trajectory in our market share. Notably, we're driving innovation in pivotal domains such as the integration of semiconductors with post-quantum technologies, artificial intelligence, security, and cloud services. This forward momentum fortifies our confidence in our capacity to seize the abundant opportunities on the horizon.\" Mr. Moreira added, “As previously announced, we expect FY 2023 revenue to increase by over 20% as compared to FY 2022. Our confidence is supported by the successful execution of our growth strategy strategically designed and executed across our various operational domains.” Our strategy is focused on several pillars including: Amplification of Production and Supply Chain Efficacy: We have vigorously expanded our production capacity and honed the efficiency of our supply chain, particularly to leverage the augmented demand from our existing, historically steadfast customers, predominantly within the IT network infrastructure segment. Acquisition of New, Significant Business Ventures: Our advanced MS600X secure platform has not only proved its technological prowess but also acted as a catalyst in capturing several monumental business opportunities, especially in the realm of remote logical access control, further solidifying our market position. Maturation of Trust Services Business: Our evolving Trust Services business, especially concerning Semiconductor provisioning and managed Public Key Infrastructure (PKI), is steadily morphing into a reliable stream of recurring revenues, indicating a secure and growth-oriented future trajectory. Expansion of U.S. Market Presence: We have decisively broadened our footprint in the competitive United ...