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SEALSQ Reports H1 2023 Unaudited Revenue of $14.8 Million, a 38% Year-Over-Year Increase
Tortola, British Virgin Islands, July 06, 2023 (GLOBE NEWSWIRE) -- During 2023, SEALSQ Launched its First Demonstrator of Quantum Resistant Technology, a New
About this update from Sealsq Corp
[{"type":"text","content":"Tortola, British Virgin Islands, July 06, 2023 (GLOBE NEWSWIRE) -- During 2023, SEALSQ Launched its First Demonstrator of Quantum Resistant Technology, a New Generation of Quantum Resistant Algorithms Running on One of its Common Criteria EAL5+ Tamper Resistant Secure Arm Platforms Tortola, British Virgin Islands – July 6, 2023: 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 first half (H1) 2023 period ending June 30, 2023. H1 2023 Operational Highlights: For H1 2023 SEALSQ reported unaudited revenue of $14.8 million, an increase of 38% as compared to the same period of last year. The year-over-year increase was driven by several factors, including: Efforts to increase production capacity and improve the efficiency of the supply chain to benefit from higher demand on existing lines with historical customers, mainly in the IT network infrastructure segment.Capture of several new significant business opportunities due to the success of its advanced MS600X secure platform, with applications in remote logical access control.The growing Trust Services business pipeline around Semiconductor provisioning and managed PKI, which is now starting to materialize into recurring revenues.Larger and stronger footprint in the United States following the expansion of sales team and the signing of four sales distribution agreements aiming to gain market share.Investments in a new generation of Post-Quantum semiconductors (Quasar) to provide Provisioning and Managed-PKI services within a unique vertically integrated value proposition including the Matter PAA. Of note, SEALSQ was recently approved by the Connectivity Standards Alliance (CSA) for Matter device attestation and became part of the very few providers of Matter PAA. Carlos Moreira, CEO of SEALSQ noted, “The impressive year-over-year revenue growth is a continuation of the trend SEALSQ exhibited in 2022 financial year, during which we reported solid revenue of $23.2 million with a growth rate of more than 36% compared to FY 2021, and EBITDA of $3.0 million. We believe that SEALSQ’s revenue growth has reached a tipping point where previous year investments are starting to pay off. One of the key external drivers ...