SEALSQ Corp has reported an impressive fiscal year 2023 revenue of $30 million, marking a substantial 29% YoY increase and also surpassing the Q3 growth outlook, which predicted growth in excess of 20%.
In a strategic move, SEALSQ has extended its “on-wafer” semiconductor provisioning offering with a groundbreaking “on-Package” chip personalization service. This service boasts a new 4-week lead-time, allowing clients to personalize off-the-shelf secure elements from the VaultIC range. These personalized chips, loaded with certificates and keys, can now be delivered in less than 4 weeks, packed in reels ranging from 1,000 to 20,000 units.
Carlos Moreira, CEO of SEALSQ, anticipates a transitional year in 2024. Despite a temporary slowdown in revenue growth due to the market’s shift towards emerging semiconductor technologies, the company expects to generate revenue from new sources, including new cyber trust mark standards and further growth in Matter certification.
The company is strategically positioned for future success with investments in post-quantum resistant technology research and development. These efforts are also projected to yield strong returns starting from 2025 onwards.
Moreira also highlighted SEALCOIN, a venture in the Machine-to-Machine (M2M) economy. This technology facilitates seamless data and currency exchanges among IoT devices, extending beyond traditional currency exchange to a comprehensive network of IoT-enabled transactions and services.
The company’s growth strategy revolves around investing in next-generation semiconductor technology, expanding its presence in the U.S. market, enhancing production and supply chain efficiency, securing new business opportunities, and developing Trust Services.
As of the latest check on Thursday, LAES shares are trading higher by an impressive 166.67%, from our alert price reaching $3.20.
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