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SEALSQ Corp expects 2024 revenue to grow by 29% to $30m

SEALSQ says strong demand on for its semiconductors and matter certification services will help it to smash targets next year.

For the first nine months of 2023, SEALSQ reported unaudited revenue of $22.1 million – 20.4% up on last year. These positive results have pushed the firm to revise its targets for next year. SEALSQ now says it expects revenue for FY 2023 to be approximately USD 30 million, up 29% on FY 2022. It original expectation was 20% growth.

SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services. It is also developing Post-Quantum technology hardware and software products. Its customer base comprises companies in authentication, smart energy, smart home appliances, IT network infrastructure, automotive and industrial automation.

Carlos Moreira, CEO of SEALSQ, said, “We are encouraged by this evolution on our revenue as we witnessed a robust and consistent customer demand for our semiconductors and Matter-related products, coupled with an upward trajectory in our market share. Notably, we're driving innovation in pivotal domains such as the integration of semiconductors with post-quantum technologies, artificial intelligence, security, and cloud services. This forward momentum fortifies our confidence in our capacity to seize the abundant opportunities on the horizon."

The company says its 2024 strategy will focus on:

  • Amplification of Production and Supply Chain Efficacy
  • Acquisition of New, Significant Business Ventures
  • Maturation of Trust Services Business
  • Expansion of U.S. Market Presence
  • Investment in Next-Gen Semiconductor Technology
     

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May 14 2024 7:33 am V22.4.46-1
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