WISeKey Announces 9-Month 2022 Preliminary Results; Reports

WISeKey Announces 9-Month 2022 Preliminary Results; Reports Revenue of $20.5 Million, a 69% Increase from the 9-Month 2021 Period

Q3 2022 Revenue of $7.9 Million Increased by 44% as Compared to Q3 2021

Backlog of $37 Million for IoT Semiconductors Products Stretches into 2023 and Pipeline of Opportunities Totals $100 Million

ZUG, Switzerland – October 6, 2022: Ad-Hoc bulletins pursuant to Art. 53 of SIX Listing Rules – WISeKey International Holding Ltd (NASDAQ: WKEY / SIX: WIHN) (“WISeKey” or the “Company”), a number one Swiss cybersecurity and IoT firm introduced at present its preliminary unaudited monetary outcomes for the 9-month interval ended September 30, 2022 (all figures are unaudited and estimated because of the preliminary nature of the announcement).

Carlos Moreira, WISeKey’s Founder and CEO, famous, “This is the fourth consecutive quarter we are reporting a growth in revenue. Despite the complexity of navigating the post-Covid-related and macro-economic challenges, 2022 so far it has been a year of hope and optimism as a recovery on the supply chain semiconductors business has started to take shape. At WISeKey, we are incredibly proud of how our teams across the globe have managed to deliver on time and supported our customers despite the disruption in the semiconductors supply chain. Our IoT activities including the extension to Satellite IoT connectivity, Post Quantum Chips and NFT has also made it undeniably clear that a focused resilient operation like the one we have built at WISeKey, can emerge stronger and better from challenging times.”

Preliminary 9-Month Financial and Operational Highlights:

• Q3 2022 income of $7.9 million elevated by 44% as in comparison with similar quarter of final 12 months regardless of the sale of arago GmbH.
• 9-month 2022 income of $20.5 million, elevated by 69% as in comparison with 9-month 2021 interval.
• A backlog of $37 million for IoT Semiconductors merchandise stretching into 2024, and a pipeline of alternatives totaling $100 million.
• Strong money place of $20 million as of October 1, 2022, helps progress plan.
• Divestiture of arago GmbH (“arago”) which got here on account of arago’s margins and complete efficiency being beneath expectations, regardless of important funding by WISeKey to streamline the business, decreased the money burn by roughly 40%.

WISeKey’s robust monetary place of $20 million money permits the Company to assist investments in new merchandise, IP, and sooner rising IoT/cybersecurity markets. Since the start of 2022, WISeKey has made important investments in R&D and new microchips design, with a view to preserve its modern know-how place and the aggressive benefit of product choices. Specifically, WISeKey is engaged on the next initiatives:

• Commercialization of the WISeSat PocketQube Satellite: with 13 satellites now in orbit launched with Space X, WISeKey is providing this IoT satellite tv for pc know-how to its IoT purchasers in a SaaS mannequin permitting each distant and redundant city IoT communications for firms in search of to securely join their property. WISeKey Trust and Security options provide distinctive integration into an end-to-end platform that communicates in real-time with the WISeSat Satellite by making certain the authenticity, confidentiality, and integrity of the gadgets and objects.
• Development of a brand new vary of Quantum Trust Services: WISeKey will reap the benefits of the newest developments in post-quantum encryption (PQE) and apply that know-how in real-world functions of digital signatures and encryptions utilizing PKI and digital certificates, equivalent to safe communication channels (TLS), enhanced Key Exchanges and e-mail safety (S/MIME). These providers are presently based mostly on requirements that may be improved to be resilient to quantum assaults and provide backwards compatibility with current counterparts. WISeKey’s implementation of PQE is made across the idea of “hybrid signatures” which mix in a single X.509 certificates, a standard signature with a second signature utilizing a PQE algorithm. This method ensures backwards compatibility and opens a brand new horizon of cybersecurity providers.
• Launching of “Root of Trust” based mostly in PQE algorithms: promoted presently by the NIST as legitimate candidates, these algorithms would be the basis of a brand new portfolio of Trust Services and safe a number of IoT initiatives on which WISeKey is already collaborating.
• Development of post-quantum resistant algorithms: by its strategic R&D partnership with MINES Saint-Etienne Research Institute, WISeKey is energetic in key initiatives promoted by the French Agency for Cybersecurity (ANSSI), and by the National Cybersecurity Center of Excellence of the US NIST. WISeKey’s R&D group has been working with a number of NIST’s candidates for the MS600X Common Criteria merchandise, equivalent to Crystals-Kyber and Crystals-Dilithium, aiming to develop an entire post-quantum cryptography toolbox to be mixed with new PKI-related Trust Services delivered by WISeKey. These post-quantum cryptography initiatives will play a key position in controlling vulnerability and different dangers associated to quantum computer systems applied sciences which when utilized by hackers may give them the power to crack cryptography algorithms, corrupt cybersecurity and compromise the worldwide economy, by undermining the safety foundations of the present monetary and governmental providers. These initiatives have obtained great assist from many authorities entities all over the world by the sponsoring of public/non-public R&D initiatives. The WISeKey contributions to the initiatives will probably be Trust Services for credentials and safe semiconductors to maintain the credentials safe. Specifically, WISeKey will provide INeS Certificate Management Service (CMS) for issuing credentials and VaultIC safe semiconductors to offer tamperproof key storage and cryptographic acceleration.
• Use of WISeID as a Universal Communications Identifier (UCID); by the implementation of a number of sensible utility equivalent to UCID, a singular identifier for an IoT gadget on a community with blockchain, a distributed ledger shared with the nodes of a pc community to ensure safety, and Non-Fungible Tokens (NFTs), cryptographic property on a blockchain that can’t be replicated, WISeKey ensures that the gadget itself is authenticated on a community that can’t be corrupted. This is a huge leap ahead, and it’s occurring now, within the United States authorities.
• Full deployment of the WISe.ART platform: WISe.ART’s distinctive aggressive edge comes from its platform which is secured by WISeKey’s numerous safety applied sciences enabling the authentication of digital id based mostly NFTs, bodily objects in addition to digital property, in a protected end-to-end course of. The WISe.ART platform gives customers full management of their WISeID NFT, whereas different NFTs should request entry to id info, and WISeID NFTs customers then can resolve by themselves what degree of data they want to share. The NFT tokenization makes use of the WISeKey registered patent utility “System and Method for Providing Persistent Authenticatable NFT” within the USA. With this methodology, NFTs have elevated in worth and can maintain their worth for a long-term. For extra info go to: https://www.wisekey.com/press/wisekey-files-patent-application-for-persistent-and-authenticatable-nfts/. Almost 130 artists have already joined the WISe.ART NFT Marketplace with roughly 500 distinctive NFT merchandise, including a industrial NFT gross sales potential mixture of $70 million price of NFTs that more and more see a future for tokens that upend the economics of content material creation and affect on the web.

About WISeKey:
WISeKey (NASDAQ: WKEY / SIX Swiss Exchange: WIHN) is a number one international cybersecurity firm presently deploying massive scale digital id ecosystems for individuals and objects utilizing Blockchain, AI and IoT respecting the Human because the Fulcrum of the Internet. WISeKey Microprocessors Secures the pervasive computing shaping at present’s Internet of Everything. WISeKey IoT has an set up base of over 1.6 billion microchips in nearly all IoT sectors (linked automobiles, good cities, drones, agricultural sensors, anti-counterfeiting, good lighting, servers, computer systems, cell phones, crypto tokens and so on.). WISeKey is uniquely positioned to be on the fringe of IoT as our semiconductors produce an enormous quantity of Big Data that, when analyzed with Artificial Intelligence (AI), may help industrial functions to foretell the failure of their tools earlier than it occurs.
Our know-how is Trusted by the OISTE/WISeKey’s Swiss based mostly cryptographic Root of Trust (“RoT”) supplies safe authentication and identification, in each bodily and digital environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a typical belief anchor to make sure the integrity of on-line transactions amongst objects and between objects and other people. For extra info, go to www.wisekey.com.

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This communication expressly or implicitly accommodates sure forward-looking statements regarding WISeKey International Holding Ltd and its business. Such statements contain sure recognized and unknown dangers, uncertainties, and different elements, which might trigger the precise outcomes, monetary situation, efficiency, or achievements of WISeKey International Holding Ltd to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is offering this communication as of this date and doesn’t undertake to replace any forward-looking statements contained herein on account of new info, future occasions or in any other case.
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