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SEALSQ Announces FY 2023 Preliminary Unaudited Revenue of $30 Million, Marking a 29% Increase Over FY 2022
Growth Driven by High Demand for Advanced Secure Semiconductors and Matter Certification Services Tortola, British Virgin Islands , Jan. 10, 2024 (GLOBE
About this update from Sealsq Corp
[{"type":"text","content":"Growth Driven by High Demand for Advanced Secure Semiconductors and Matter Certification Services\nTortola, British Virgin Islands , Jan. 10, 2024 (GLOBE NEWSWIRE) -- SEALSQ Corp (\"SEALSQ\" or \"Company\") (NASDAQ: LAES), a leader in the development and sales of semiconductors, PKI, and post-quantum technology hardware and software products, today proudly announced the achievement of a significant milestone with a revenue of $30 million, marking a 29% increase from FY 2022 and surpassing our Q3 outlook of growth in excess of 20%. Carlos Moreira, CEO of SEALSQ, expressed enthusiasm about the company's performance: \"This year's revenue growth is a testament to the strong market demand for our Secure Elements and Matter-related products. Our innovative approaches in integrating semiconductors with cutting-edge technologies like IoT security, identity protection and cloud services have significantly contributed to this success. We aim to continue this innovation through the use of the latest emerging technologies such as post-quantum computing and AI in the coming years. Our increasing market share reflects the trust our customers place in our products and services.\" Looking ahead, Mr. Moreira noted, \"2024 is poised to be a transitional year for SEALSQ. While we anticipate a temporary slowdown in revenue growth due to the market's shift towards emerging semiconductor technologies, we expect to begin generating revenue from new and developing sources including new cyber trust mark standards and further growth in Matter certification. Furthermore, the WISeSat picosatellite constellation focused on enhancing satellite-IoT device connections, particularly in low-connectivity areas, will open additional new revenue streams by leveraging our semiconductor expertise. Finally, our investments in post-quantum resistant technology research and development are projected to yield strong returns from 2025 onwards.\" Discussing SEALSQ's innovative project, SEALCOIN, Mr. Moreira added, \"As previously announced, SEALCOIN is set to introduce a transformative new technology to the Machine-to-Machine (M2M) economy, enabling billions of IoT devices to conduct seamless data and currency exchanges. This novel protocol will not only facilitate IoT interactions across various companies but also expand beyond traditional currency exchange to a comprehe...