The strong revenue growth and robust cash position are positive, but widening losses raise concerns about profitability. Traders should monitor the Q4 earnings call on April 1 for clarity on margin trends and the path to profitability, especially given aggressive FY 2026 growth guidance.
Price Chart
Executive Summary
SEALSQ confirmed its unaudited FY 2025 revenue of $18 million, a 66% year-over-year increase, with Q4 2025 contributing $8 million. However, net loss widened to $30–40 million from $21 million in FY 2024. The company reiterated FY 2026 revenue guidance of 50–100% YoY growth and reported $425 million in cash as of year-end.
Key Financial Metrics
Key Facts
- FY 2025 revenue was $18 million, up 66% YoY, with $8 million generated in Q4 2025 vs. $4 million in Q4 2024.
- FY 2025 net loss increased to $30–40 million, compared to $21 million in FY 2024.
- Company maintains FY 2026 revenue guidance of 50–100% YoY growth.
- $425 million in cash on hand as of December 31, 2025, despite $30 million deployed during the year.
- Over $200 million in active business pipeline expected to generate revenue from 2026–2028.
Financial Impact
Revenue grew significantly (+66% YoY) to $18M, but losses expanded sharply to $30–40M. Strong cash position of $425M supports future operations and investments.
Risk Factors
- Continued net losses despite revenue growth could pressure investor sentiment.
- FY 2026 guidance is broad (50–100% growth), suggesting uncertainty in execution or demand visibility.
- Reliance on a limited number of key customers increases concentration risk.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3258630 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Press Release | $1.56 | awaiting T+20 | — | $1.55 (−0.66%) |
Oct 16, 2026 10d ago | 6-K | $1.79 | awaiting T+20 | — | $1.55 (−13.41%) |
Oct 16, 2026 10d ago | 6-K | $1.79 | awaiting T+20 | — | $1.55 (−13.41%) |
Oct 15, 2026 11d ago | Press Release | $1.93 | awaiting T+20 | — | $1.55 (−19.69%) |
Oct 14, 2026 12d ago | 6-K | $1.84 | awaiting T+20 | — | $1.55 (−15.76%) |
Oct 13, 2026 13d ago | Press Release | $1.93 | awaiting T+20 | — | $1.55 (−19.69%) |
Oct 6, 2026 20d ago | Press Release | $2.42 | awaiting T+20 | — | $1.55 (−35.95%) |
Oct 2, 2026 24d ago | 6-K | $2.41 | awaiting T+20 | — | $1.55 (−35.68%) |
Oct 2, 2026 24d ago | Press Release | $2.41 | awaiting T+20 | — | $1.55 (−35.68%) |
Sep 25, 2026 4w ago | 6-K | $2.35 $1.55 | ▼ −34.04% | ▼ −32.57% | $1.55 (−34.04%) |
US Market Status
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