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Wisekey International Holding (CH:WIHN)
:WIHN
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WISeKey International Holding
(OTC:WIHN)
Rating:48Neutral
Price Target:
CHF9.50
▼(-7.05%Downside)
WISeKey International Holding (WIHN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF56.15M
Dividend YieldN/A
Average Volume (3M)9.75K
Price to Earnings (P/E)―
Beta (1Y)-0.12
Revenue Growth-62.39%
EPS Growth37.01%
CountryCH
Employees109
SectorTechnology
Sector Strength87
IndustrySemiconductors
Share Statistics
EPS (TTM)-3.11
Shares Outstanding4,080,546
10 Day Avg. Volume7,854
30 Day Avg. Volume9,754
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.43
Price to Sales (P/S)0.00
P/FCF Ratio-0.65
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit0.07
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
WISeKey International Holding Business Overview & Revenue Model
Company DescriptionWISeKey International Holding (WIHN) is a leading global cybersecurity company with a focus on secure authentication and identity management. Operating in sectors such as the Internet of Things (IoT), blockchain, and artificial intelligence, WISeKey provides robust solutions to safeguard digital identities and transactions. Its core products and services include digital certificates, secure microcontrollers, and cybersecurity platforms designed to protect data integrity and privacy in various industries.
How the Company Makes MoneyWISeKey International Holding makes money primarily through the sale of its cybersecurity products and services. The company generates revenue from licensing its digital certificates and microcontrollers to various industries that require secure authentication and identity management solutions. Additionally, WISeKey offers cybersecurity consulting and platform services, which provide recurring revenue streams through subscription models. The company also forms strategic partnerships with other technology firms to expand its market reach and enhance its product offerings, contributing to its overall earnings.
WISeKey International Holding Earnings Call Summary
Earnings Call Date:Apr 17, 2025
(Q4-2024)
| % Change Since: 66.72%|
Next Earnings Date:Sep 30, 2025
Earnings Call Sentiment Neutral
WISeKey's earnings call highlighted a strong cash position, strategic developments, and a significant business pipeline. However, it also faced a substantial revenue decline in 2024 and a delay in new product revenue until 2026. The highlights and lowlights present a balanced view, indicating a transitional phase for the company.Q4-2024 Updates
Positive Updates
Strong Cash Position
WISeKey ended the year with a cash balance in excess of $90 million, predominantly secured via an over $80 million capital raise during December 2024 by SEALSQ.
Strategic Partnerships and Developments
WISeKey launched 17 secure satellites in partnership with SpaceX and is advancing negotiations for semiconductor personalization centers, creating a solid foundation across digital trust infrastructure.
WISeKey's Year of Convergence
WISeKey is integrating semiconductors, satellites, blockchain, and digital identity into a unified ecosystem, enabling exponential innovation and resilience.
Pipeline of Business Opportunities
WISeKey has a robust pipeline of secured and pending business opportunities exceeding $150 million for the period 2026 to 2028.
Negative Updates
Significant Revenue Decline
For the full year 2024, WISeKey reported revenue of $11.9 million, down from $30.1 million in 2023, reflecting a transitional year with semiconductor customers delaying building inventory.
Delayed New Product Revenue
The commercial launch of quantum resistant chips is set for Q4 2025, with first revenues expected in 2026, indicating a delay in new product revenue streams.
Company Guidance
During the WISeKey International Holdings Full Year 2024 Financial Results Earnings Conference Call, the company provided detailed guidance and metrics for the upcoming year. WISeKey ended 2024 with a strong cash position exceeding $90 million, largely due to an $80 million capital raise by SEALSQ in December 2024. The company reported $11.9 million in revenue for 2024, down from $30.1 million in 2023, which they attributed to a transitional year as customers shift to next-generation quantum-resistant solutions. WISeKey has set an ambitious target to capture 20% of the trusted platform model (TPM) market and expects the commercial launch of post-quantum chips in Q4 2025, with revenue generation starting in 2026. They have a robust pipeline of secured and pending business opportunities exceeding $150 million for the period 2026 to 2028. WISeKey is focusing on four key areas: semiconductors, satellites, blockchain, and digital identity, aiming to capitalize on high-growth areas such as post-quantum security and blockchain-based ecosystems. The company plans to deploy up to 88 new generation satellites over the next three years and is expanding its presence with new partnerships and acquisitions, including the anticipated acquisition of IC’ALPS.WISeKey International Holding Financial Statement Overview
Summary
WISeKey International Holding is facing significant financial challenges, including declining revenue, poor profitability, and weak cash flow management. While the balance sheet shows some stability, the overall financial health is concerning, with a need for substantial improvements in operational efficiency and cash flow generation.Income Statement
The company has been experiencing declining revenue, with a significant drop of 61.6% from 2023 to 2024. Negative EBIT and net income margins, at -231% and -113% respectively for 2024, reflect ongoing operational challenges and profitability issues.30
Negative
Balance Sheet
The balance sheet shows a relatively high equity ratio of 21.8% in 2024, indicating some stability. However, the debt-to-equity ratio remains concerning at 0.36, and negative return on equity suggests poor returns for shareholders.45
Neutral
Cash Flow
The company has negative free cash flow, although it improved slightly in 2024. The large discrepancy between operating cash flow and net income highlights cash flow issues. The operating cash flow to net income ratio remains negative, indicating weak cash generation.40
Negative
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.88M | 30.92M | 23.81M | 17.65M | 14.78M |
| Gross Profit | 4.29M | 14.74M | 10.23M | 7.75M | 6.20M |
| EBITDA | -26.28M | -13.27M | -11.71M | -20.09M | -17.19M |
| Net Income | -13.45M | -15.36M | -8.03M | -19.72M | -28.66M |
Balance Sheet | |||||
| Total Assets | 114.69M | 47.80M | 49.50M | 88.81M | 52.88M |
| Cash, Cash Equivalents and Short-Term Investments | 90.60M | 15.32M | 20.71M | 34.20M | 28.84M |
| Total Debt | 8.94M | 9.77M | 9.63M | 16.86M | 16.97M |
| Total Liabilities | 27.56M | 26.72M | 25.47M | 47.43M | 38.45M |
| Stockholders Equity | 25.05M | 26.68M | 26.26M | 35.90M | 16.27M |
Cash Flow | |||||
| Free Cash Flow | -18.34M | -17.23M | -17.45M | -21.83M | -12.60M |
| Operating Cash Flow | -17.77M | -14.21M | -17.14M | -21.79M | -12.55M |
| Investing Cash Flow | 179.00K | -3.02M | -484.00K | -2.52M | -3.90M |
| Financing Cash Flow | 92.92M | 11.85M | 4.18M | 36.98M | 21.48M |
WISeKey International Holding Technical Analysis
Neutral
10.22
Price Trends
9.64
Positive
9.01
Positive
8.56
Positive
Market Momentum
0.05
Positive
49.31
Neutral
56.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:WIHN, the sentiment is Neutral. The current price of 10.22 is below the 20-day moving average (MA) of 10.65, above the 50-day MA of 9.64, and above the 200-day MA of 8.56, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 49.31 is Neutral, neither overbought nor oversold. The STOCH value of 56.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CH:WIHN.
WISeKey International Holding Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Performance Comparison
CH:WIHN
WISeKey International Holding
10.10
6.21
159.64%
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1.34
-0.17
-11.00%
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13.23%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.