The combination of strong revenue growth, high visibility from a $200M pipeline, and aggressive guidance suggests meaningful inflection. Traders should monitor Q1 2026 revenue confirmation and progress on QS7001/QVault TPM commercialization. High cash balance reduces near-term dilution risk.
Price Chart
Executive Summary
WISeKey reported preliminary FY 2025 revenue of $19M, a 58% year-over-year increase, driven by strong growth at its SEALSQ semiconductor subsidiary, which posted 66% YoY growth. The company highlighted a $200M+ commercial pipeline through 2028 and issued bullish FY 2026 revenue guidance of +50% to +100% YoY, citing commercial rollout of quantum-secure chips and full consolidation of IC'ALPS. Cash surged to $425M, up $90M in the year.
Key Financial Metrics
Key Facts
- FY 2025 revenue: $19M (+58% YoY), up from $12M in 2024
- Q4 2025 revenue: $8M (+100% YoY)
- SEALSQ subsidiary delivered 66% YoY revenue growth
- Cash on hand: $425M as of Dec 31, 2025, up $90M
- Commercial pipeline: $200M+ (2026–2028), including $60M tied to QS7001/QVault TPM
- FY 2026 revenue guidance: +50% to +100% YoY growth
- Q1 2026 revenue expected to exceed $4M (>100% YoY growth)
- WISeKey holds 52% voting control of SEALSQ, enabling full consolidation
Financial Impact
Revenue grew $7M YoY to $19M; pipeline suggests potential $100M+ in incremental revenue over next three years. Cash position of $425M provides strong runway for execution.
Risk Factors
- Figures are preliminary and unaudited; final results may differ
- Guidance is forward-looking and dependent on successful commercialization of new quantum products
- Execution risk in scaling semiconductor production and market adoption
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3249841 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 6-K | — | awaiting T+60 | — | — |
Oct 22, 2026 5d ago | 6-K | — | awaiting T+60 | — | — |
Oct 16, 2026 11d ago | 6-K | $5.88 | awaiting T+60 | — | — |
Oct 14, 2026 13d ago | 6-K | $5.88 | awaiting T+60 | — | — |
Oct 9, 2026 18d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 18d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 18d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 18d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 18d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 18d ago | 3 | — | awaiting T+60 | — | — |
US Market Status
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