Monitor Q4 2026 revenue conversion against the $11M-$20M guidance range and pipeline conversion of the >$200 million pipeline into production revenue. Key catalysts include QS7001 Common Criteria evaluation report expected in October 2026 and QVault TPM TCG certification targeted for February 2027.
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Executive Summary
WISeQey Corp filed a 6-K reporting that its subsidiary SEALSQ Corp (NASDAQ: LAES) announced preliminary unaudited 9M 2026 revenue of $16.3 million, up 65% YoY from $9.9 million, and reaffirmed FY 2026 revenue guidance of $27 million to $36 million. Cash and equivalents stood at approximately $463 million as of September 30, 2026. The filing also highlights key product milestones including VaultIC408 achieving NIST FIPS 140-3 Level 3 validation and a post-quantum pipeline of over $100 million.
Key Facts
- Preliminary unaudited 9M 2026 revenue of $16.3 million, up 65% year-on-year from $9.9 million in 9M 2025
- Cash, cash equivalents and restricted cash of approximately $463.0 million at September 30, 2026
- FY 2026 revenue guidance reaffirmed at $27 million to $36 million (50% to 100% growth vs FY 2025 audited revenue of $18 million)
- Q4 2026 revenue expected between $11 million and $20 million, compared to $8.4 million in Q4 2025
- Active business pipeline of more than $200 million through 2029, including more than $100 million associated with post-quantum projects
- 42 prospective customers evaluating QVault TPM and QS7001 at September 30, 2026, up from 30 at June 30, 2026
- VaultIC408 achieved NIST FIPS 140-3 Level 3 validation
- IC'Alps SAS contributed approximately $3.8 million in 9M 2026
Financial Impact
9M 2026 revenue of $16.3 million (65% YoY growth); FY 2026 guidance of $27M-$36M; cash position of ~$463M
Risk Factors
- Preliminary unaudited financials may materially differ from final results
- Pipeline conversion risk — management estimates subject to customer validation, technical integration and commercial risks
- Timing of product certifications and customer qualifications may delay revenue recognition
- Concentration risk with limited number of significant customers
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001213900-26-110125 |
| Document: ea0308855-6k_wiseqey.htm | 0001213900-26-110125 |
| Document: 0001213900-26-110125-index-headers.html | 0001213900-26-110125 |
| Document: 0001213900-26-110125-index.html | 0001213900-26-110125 |
| Document: 0001213900-26-110125.txt | 0001213900-26-110125 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 6-K | — | awaiting T+60 | — | — |
Oct 16, 2026 10d ago | 6-K | $5.88 | awaiting T+60 | — | — |
Oct 14, 2026 12d ago | 6-K | $5.88 | awaiting T+60 | — | — |
Oct 9, 2026 17d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 17d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 17d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 17d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 17d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 17d ago | 3 | — | awaiting T+60 | — | — |
Oct 9, 2026 17d ago | 3 | — | awaiting T+60 | — | — |
US Market Status
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