WISeKey Reports Strong Unaudited Q1 2021 Revenues


WISeKey Reports Strong First Quarter 2021 Unaudited Income

WISeKey expects 2021 to be a year of good operational and financial performance

Zug, Switzerland, May ten, 2021 – WISeKey International Holding Ltd. (“WISeKey” or “Company”) (SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity and IoT, today announced unaudited revenue of $ 4.7 million in Q1 2021, an increase of more than 7%, from the same period of last year (note, Q1 2021 revenue includes revenue generated by arago; WISeKey acquired a controlling stake 51% on February 1, 2021). Additionally, WISeKey ended the quarter with a strong financial position of $ 23 million in cash and restricted cash as of March 31, 2021.

“The COVID-19 pandemic has affected all companies in the tech industry, making 2020 a difficult year. Since the start of the pandemic, we have taken steps to quickly run our business, strengthen our balance sheet and have been able to reposition ourselves, effectively managing our supply chain and manufacturing process to continue on-time deliveries. Thus, the first quarter of 2021 was a very solid quarter, compared to a pre-COVID first quarter of 2020, followed by a similar strong performance during the month of April. We are now in a very good position to meet the growing demand from our customers. Our backlog at the end of April, excluding arago, increased by more than 155% compared to the same period last year, and was higher than our revenues for the year 2020. Demand more high, growing backlog and several new customers now have a positive impact on the company’s revenue and forecast for 2021. In addition to the positive growth of WISeKey’s core business, the recent acquisition of arago is expected to further improve our operational performance for 2021 ”, commented Carlos Moreira, CEO of WISeKey.

“I couldn’t be happier with our progress since the start of the year. We anticipate strong demand for our cybersecurity products in calendar year 2021 and sustained revenues from increased demand for our technology. Cyber ​​security companies like WISeKey with strong IP technology assets are expected to recover from the current crisis much faster. Overall, the continued adoption of IoT technologies connected to secure clouds, and ultimately 5G, will be huge enablers for security companies given the associated adoption risk, ”concluded Mr. Moreira.

Our strong financial position of $ 23 million of cash and restricted cash at the end of the first quarter of 2021 allows us to support investments in new products, intellectual property and faster growing IoT markets / cybersecurity. In 2020, we made significant investments in R&D and new chip design in order to maintain our leading technological position and the competitive advantage of our product offerings. We recently developed NanoSealRT, an NFC Forum Type 5 chip that works with Android and IOS 12 (and above) devices, which will further strengthen our position as a major player in IoT.

During the first quarter of 2021, WISeKey made a strategic investment in FOSSA Systems, allowing its satellite technology to integrate with the WISeKey IoT platform connecting all IoT sectors through the development of a WISeSaT PocketQube satellite . The WISeSaT.Satellite will be an IoT security hardened FOSSASAT-2E satellite designed to further reduce satellite costs for Cubesat’s already small size.

WISeKey will offer this technology to its IoT customers in a SaaS model enabling both remote and redundant urban IoT communications for businesses looking to securely connect their assets. WISeKey trust and security solutions offer unique integration into an end-to-end platform that communicates in real time with the WISeSat satellite ensuring the authenticity, confidentiality and integrity of devices, objects, data and transactions .

Finally, after the successful deployment of several NFT luxury watch projects, WISeKey is developing one of the most reliable and secure blockchains for businesses, as part of a strategic partnership to bring confidence to the hype around NFT with the launch of TrustedNFT.io. This NFT platform will provide a dedicated and secure marketplace for the buying and selling of NFT, including works of art and luxury goods. The first major auction will take place in the summer of 2021, and more information will be available soon.

About WISeKey
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a global cybersecurity leader currently deploying large-scale digital identity ecosystems for people and things using Human-Friendly Blockchain, AI and IoT as the backbone Internet. WISeKey microprocessors secure the ubiquitous computing that shapes the Internet of everything today. WISeKey IoT has an installed base of over 1.5 billion microchips in virtually every IoT industry (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, phones mobiles, crypto tokens, etc.). WISeKey is uniquely positioned to be at the forefront of IoT because our semiconductors produce an enormous amount of big data which, when analyzed with artificial intelligence (AI), can help industrial applications predict the failure of their equipment before it happens.

Our technology is trusted by the Switzerland-based Cryptographic Root of Trust (“RoT”) of OISTE / WISeKey provides secure authentication and identification, in physical and virtual environments, for Internet of Things, blockchain and artificial intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions between objects and between objects and people. For more information visit www.wisekey.com.

Press and investor contacts:

WISeKey International Holding Ltd
Company contact: Carlos Moreira
Chairman and CEO
Phone: +41 22 594 3000
[email protected]
WISeKey Investor Relations (United States)
Contact: Lena Cati
The Equity Group Inc.
Phone: + 1212 836-9611
[email protected]

This communication expressly or impliedly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its activities. These statements involve certain risks, uncertainties and other known and unknown factors, which could cause the actual results, financial position, performance or achievements of WISeKey International Holding Ltd to be materially different from the future results, performance or achievements expressed or implied by such a prospect. – forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities, and it does not constitute an offer prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), legislation prior to FInSa or advertising within the meaning of FinSA. Investors should rely on their own assessment of WISeKey and its securities, including the benefits and risks involved. Nothing contained in this document is, or will be considered, a promise or representation as to the future performance of WISeKey.

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