Sealsq Corp · NASDAQ:LAES
Sealsq — Investor Presentation (June 2025)
50 slides from Sealsq's investor presentation, June 2025
Slide 1: Investor Presentation: End-to-End Post Quantum Security Solutions
Investor Presentation June 2025 End-to-End Post Quantum Security Solutions
Slide 2: Forward-Looking Statements
Forward-Looking Statements This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, event
Slide 3: Agenda
Who We Are How We Compete Strategic Initiatives Financial Highlights & Outlook Strong Commitment to ESG Appendix – Historical Financials
Slide 4: About SEALSQ
About SEALSQ SEALSQ develops and sells Semiconductors, PKI and Post-Quantum technology hardware and software products SEALSQ Corp. Data as of June 2025 Established 1998 Nasdaq listed May 2023 (acquired by WISeKey, parent company of SEALSQ in 2016 and reorganized in 2022) Ticker symbol LAES Headquart
Slide 5: SEALSQ: Investment Highlights
SEALSQ: Investment Highlights Major Initiatives Investing in the Future ✓ Made significant progress in strategic transformation to post-quantum market Four major strategic initiatives to drive leader. growth and profitability in 2025 and beyond ✓ Further expanded global client base with a focus on i
Slide 6: SEALSQ at a Glance
SEALSQ at a Glance The only digital security company acting as… Customer Benefits Offering a fully OEM integrated vertical Securing any kind of One-stop-shop • Achieve easy, fast & cost-effective product compliance with suite of connected devices provider major standards (Matter, US Cyber Trust Mark
Slide 7: Use Cases: Markets We Serve
Use Cases: Markets We Serve 7 7
Slide 8: SEALSQ Semiconductor & Embedded Software
SEALSQ Semiconductor & Embedded Software APPLICATIONS Post Quantum Chips • Secure Storage CCEAL 5+ RISC V Quantum Resistant • Access Control Hardware platform with an optional TPM • Custom Application Stack firmware • TPM: PC, Tablets, Industrial MS600X FAMILY • Secure Storage CC EAL 5+ Certified Se
Slide 9: New TPM Target Markets
New TPM Target Markets USB PC & Laptops Tablets Authentication Dongles TAM: 500M$ CAGR: 15% Hardware Security Data Storage Modules (HSMs)
Slide 10: Where We Stand Today
Where We Stand Today 3 Years TPM Engaged or Confirmed Client Pipeline 100 Engaged Clients >80 Engaged Clients Today 2025 Target 10
Slide 11: SEALSQ Quantum Resistant Trust Services
SEALSQ Quantum Resistant Trust Services In 2024, NIST finalized the selection of several quantum-resistant cryptographic algorithms to be used as standards (for instance, Crystals-Kyber or Crystals-Dilithium) SEALSQ has developed a Quantum Root-of- Trust and is… ▪ Using these cutting-edge algorithms
Slide 12: SEALSQ Technology Roadmap
SEALSQ Technology Roadmap 1. IP and ASIC Offer We are identified as a Product supplier We want to penetrate the “IP Player” market (we already have 3 prospects) 2. Advancing to smaller and faster technology nodes (assessment): 55nm Flash 28nm Flash 22/14 nm ReRam (1/10,000 hair ) (/2) (/3) 3. Javaca
Slide 13: Highly Qualified Management Team
Highly Qualified Management Team Carlos Moreira John O’Hara Bernard Vian Chief Executive Officer Chief Financial Officer GM – SEALSQ France Loïc Hamon Frank Buonanno Jean-Pierre Enguent Chief Operating Officer VP - R&D Systems and VP - Global Sales Solutions 13
Slide 14: BoD With a Wide Array of Backgrounds and Experience
BoD With a Wide Array of Backgrounds and Experience Carlos Moreira John O’Hara Peter Ward Ruma Bose Chairman, Executive Director Executive Director Non-Executive Director Non-Executive Director Danil Kerimi Christina Dolan David Fergusson Eric Pellaton Non-Executive Director Non-Executive Director N
Slide 15: Agenda
Who We Are How We Compete Strategic Initiatives Financial Highlights & Outlook Strong Commitment to ESG Appendix – Historical Financials
Slide 16: Value Proposition & Key Differentiators
Value Proposition & Key Differentiators Post-Quantum Technology Digital Security PURE Player Customization / ASICS Quantum-resistant chips in 2025, We focus only on security, unlike SEALSQ designs and delivers and post-quantum algorithms our biggest hardware competitors tailor-made chips to meet the
Slide 17: Competition Mapping on Embedded Security
Competition Mapping on Embedded Security (Software & Hardware) Embedded Security Provider IP, Software Security Hardware with (Trust Zone certified Lab & TEE) 1 (TPM, SE) 2 3 Broadliner Chip Maker 17 X 17 Ranking in Market Share
Slide 18: Competition Mapping on Trust Services
Competition Mapping on Trust Services IoT Device Identity Provider 1 Pure Software Legacy Players (Public CA & 2 PKI 3 4 Broadliner (Corporate / User / Device) X 18Ranking in Market Share 18 18
Slide 19: Barriers to Entry & Alliances: SEALSQ is Ahead of the Game
Barriers to Entry & Alliances: SEALSQ is Ahead of the Game Standards / Consortiums GSMA selects only 2 Root CA / PKI, WISeKey Certifications mandated by accredited to start business in 2024. cybersecurity regulation bodies More on MATTER: https://csa-iot.org/certification/paa For SECURITY IC market,
Slide 20: SEALSQ Holds Over 100 Active Patents
SEALSQ Holds Over 100 Active Patents 100+ active patents, bringing innovation to markets like Near Field Communication (NFC) technology, Banking Cards, Pay TV, Health Cards, etc. 39 106 17 Patent Granted Pending Families Active Patents Patents 20
Slide 21: Agenda
Who We Are How We Compete Strategic Initiatives Financial Highlights Strong Commitment to ESG Appendix – Historical Financials
Slide 22: Major Strategic Initiatives
Major Strategic Initiatives 1 2 3 4 QUASAR OSPT Investment in Satellite Program Centers Quantum Companies Connectivity Full range of quantum Establish High- 20M$ Fund to invest in Cost-effective IoT resistant semiconductors performance chip design Quantum-Tech companies solutions for industrial to b
Slide 23: SEALSQ: Post-Quantum Services
1 SEALSQ: Post-Quantum Services Post-Quantum Semiconductor & Secure Identity Provisioning Services Embedded Software • Full range of Quantum Resistant chips built on a RISC-V Common Criteria Certified hardware architecture • Includes a TPM 2.0, FIPS 140-3 ON WAFER ON CHIP IN FACTORY IN THE FIELD Com
Slide 24: SEALSQ QUASAR Program
1 SEALSQ QUASAR Program New Secure Chip New PQ CRYTPO Engine Firmware Update RISC-V CPU KYBER Fault Resistant Firmware Loader A new “Power engine” DILITHIUM Adaptation / Customization 2x faster than competition at software level 24
Slide 25: QUASAR Roadmap
1 QUASAR Roadmap TPM & IoT Market • TPM standard was originally thought and designed for PC (Hard Drive encryption, boot pw storage) Massive addressable market • WINDOWS 11 made TPM standard mandatory for the PC world for IoT cybersecurity • Demand for TPMs is primarily driven by utilities/industria
Slide 26: QUASAR Roadmap (continued)
1 QUASAR Roadmap (continued) A New Business Model CHIPLET AND CUSTOM ASIC PQ HARDWARE PKI CRYPTO CPU RAM PMU With the QUASAR program, we HARDWARE PKI CRYPTO RAM Analog Platform VCC, GND CRYPTO (ECC) enter the MCU market with USB DPRAM Securities fuller processing capabilities FLASH and the possibili
Slide 27: Evolution of Cryptographic Algorithms & Standards
1 Evolution of Cryptographic Algorithms & Standards Pivotal Period of Transition 1977 1992 2015 2023 2030 RSA ECDSA Kyber & Dilithium PQC algorithms PQC mandatory SHA-3 selected by NIST2 by ANSSI3 1991 1994 2023 2025 DSA Shor’s Google reporting it completed computational ANSSI recommend algorithm ta
Slide 28: Semiconductor Design & OSPT Centers
2 Semiconductor Design & OSPT Centers Design Center OSPT Centers Added Value Added Value • Design customer specific • Software and Digital Identity injection at Chip microcontrollers (ASIC, ASSP) Module level • Automotive grading Differentiation Differentiation • ROOT CA certified by WI-SUN, GSMA, M
Slide 29: Semiconductor Design & OSPT Centers
2 Semiconductor Design & OSPT Centers Personalization Centers Added Value DIFFERENTIATION • Software and Digital Identity injection at Chip Module level ROOT CA Certified by: Growth Drivers • Connected devices compliance with standards Common Criteria Certified by: • Matter, Zigbee, ETSI EN 303 645,
Slide 30: Semiconductor Design & OSPT Centers
2 Semiconductor Design & OSPT Centers OSAT Centers • SEALSQ offers countries the ability to develop their own OSPT Centers through Public-Private Partnerships (PPP). Established France • OSPT Centers focus on local manufacturing to meet the highest standards of security and certification like Common
Slide 31: Semiconductor Design & OSPT Centers: Spain – Murcia
2 Semiconductor Design & OSPT Centers Spain – Murcia An International Benchmark in Cybersecurity In collaboration with parent company WISeKey, SEALSQ is one of three parties selected for the ambitious project of creating of a high-performance OSPT Center in the Region of Murcia. Joining forces with
Slide 32: Semiconductor Design & OSPT Centers: Expansive Target Markets
2 Semiconductor Design & OSPT Centers Expansive Target Markets IoT Device TPM Secure Microcontroller Market Market Market 27 Billion units by 2025 Applications: (includes automotive) 3-year CAGR of 22% utilities/industrial IoT (IIoT) and (IOT Analytics, May 2022 ) connected cars 433 Million units in
Slide 33: SEALSQ Investment Roadmap
3 SEALSQ Investment Roadmap $20M Targeting First investments Allocated to Quantum computing Already announced startup investments Quantum-as-a-Service (QaaS) AI-driven semiconductor technologies Quantum Software-as-a-Service 33
Slide 34: WeCan Group Investment
3 WeCan Group Investment Agreement to Acquire 30% Stake: Founded in 2015 in Switzerland, WeCanGroup is a leading provider of blockchain- based solutions for secure data management, serving individuals, enterprises, and financial institutions. Key Synergies: Expands into banking Bolsters WeCan’s Enha
Slide 35: Strategic Synergies with IC'ALPS
3 Strategic Synergies with IC’ALPS Products Supply Chain Customers Market Share • Speeds up SEALSQ • Combines IC ALPS • Leverages IC'ALPS’ • Positions the quantum-resistant footprint at Foundries footprint in Company as a major ASICs & off-the-shelf with SEALSQ Automotive & player in the Secure IC p
Slide 36: Satellite Connectivity
4 Satellite Connectivity In Collaboration with WISeSat.Space SEALSQ, in collaboration with WISeSat.Space, are developing the first cost effective and secure IoT connectivity solution anywhere on Earth, using picosatellites and low-power sensors. Current Problem SEALSQ Solutions Costly connectivity g
Slide 37: Satellite Connectivity: Progress
4 Satellite Connectivity: Progress In Collaboration with WISeSat.Space Container Tracking Advancements Next Generation Satellites SEALSQ, in collaboration with WISeSat.Space, is set Two major agreements were announced in 2024 to launch six new next-generation satellites in 2025. that accelerate the
Slide 38: Agenda
Who We Are How We Compete Strategic Initiatives Financial Highlights & Outlook Strong Commitment to ESG Appendix – Historical Financials
Slide 39: FY 2024 Financial Overview
FY 2024 Financial Overview As expected, 2024 was a transitional year given: • Excess inventories at legacy customers • Customers and prospects awaiting availability of $11M $85M next-generation chips Revenue cash reserve • Impact of global economic slowdown FY 2024 (unaudited) at December 31, 2024 F
Slide 40: 2025 Outlook
2025 Outlook Bookings +80% $93M pipeline vs. same time in prior year Potential contracts >80 active engagements OSPT projects At least one agreement expected to On new post-quantum TPM product opportunities be signed in H1 2025
Slide 41: Strategy for 2025 and Beyond
Strategy for 2025 and Beyond Quantum Roadmap Post-Quantum Expand $20M investment TPM US Presence Opportunities in multiple Quantum companies Goal Identify opportunities OSPT projects to integrate our technologies and More agreements enhance our Quantum Roadmap expected to be signed in the coming yea
Slide 42: Opportunity to Gain Market Share
Opportunity to Gain Market Share Large, Growing Market Breakdown by Segment PKI Global Market Forecast Secure Microcontroller $ in Billions $15 $13.8 Wearables +32% 20.2% Smart Home (Matter) +27% $10 CAGR M$ M$ Utilities & Industrial IoT +33% 2023 2024 $5.5 $4.6 Smart Cities (Wi-Sun) +32% $5 Other +
Slide 43: Agenda
Who We Are How We Compete Strategic Initiatives Financial Highlights & Outlook Strong Commitment to ESG Appendix – Historical Financials
Slide 44: Strategic ESG Principles
Strategic ESG Principles Social Responsibility Environmental Stewardship Commitment to ensure widespread awareness Vigilant environmental monitoring system among individuals within the organization, to ensure compliance with and anticipation extends beyond the workplace. Fosters an of all applicable
Slide 45: Certifications in Quality, Security, and Impact
Certifications in Quality, Security, and Impact SEALSQ’s Environmental Management Quality is monitored and has been Operations are run under an ISO 27001 System has received the ISO 14001 label. awarded the ISO 9001 label since 2007. certified environment for Security. SEALSQ’s Certificate Authority
Slide 46: Contact Us
Contact Us SEALSQ Corp. Carlos Moreira Chairman & CEO info@sealsq.com Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 lcati@equityny.com
Slide 47: Agenda
Who We Are Market and Differentiators Strategic Initiatives Financial Highlights How We Compete Appendix – Historical Financials
Slide 48: Historical Consolidated Statements of Comprehensive Income/(Loss)
Historical Consolidated Statements of Comprehensive Income/(Loss) 12 months ended December 31, USD'000, except earnings per share 2024 2023 2022 Net sales 10,981 30,058 23,198 Cost of sales (6,775) (15,589) (13,267) Depreciation of production assets (478) (420) (132) Gross profit 3,728 14,049 9,799
Slide 49: Historical Consolidated Balance Sheets
Historical Consolidated Balance Sheets As at December 31, As at December 31, USD'000, except par value 2024 2023 ASSETS Current assets Cash and cash equivalents 84,624 6,895 Accounts receivable, net of allowance for doubtful accounts 3,825 5,053 Inventories 1,418 5,231 Prepaid expenses 355 605 Gover
Slide 50: Historical Consolidated Statements of Comprehensive Income/(Loss)
Historical Consolidated Statements of Comprehensive Income/(Loss) WISeKey Semiconductors SAS, SEALSQ Corp Predecessor Financial Statement for the year ended Dec. 31, 2022 12 months ended December 31, USD'000 2022 2021 2020 Net sales 23,198 16,995 14,317 Cost of sales (13,267) (9,547) (8,147) Depreci