WISeKey International Holding (WKEY)
NASDAQ:WKEY
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WISeKey International Holding
(NASDAQ:WKEY)
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Rating:48Neutral
Price Target:
$6.50
▼(-14.13% Downside)
Action:ReiteratedDate:05/02/26
The score is held down primarily by weak financial quality—large operating losses and significant, worsening cash burn—despite a sharp 2025 revenue rebound. Technicals are mixed with a weak longer-term trend but neutral momentum and near-oversold readings. The earnings call adds some support via pipeline and product/partnership catalysts, but near-term losses and execution risk remain material, and valuation metrics offer limited support due to negative earnings and no dividend yield provided.
Positive Factors
Strong Revenue Recovery
A durable revenue rebound in 2025 shows commercial traction for WISeKey's semiconductor, PKI and post-quantum offerings. A higher revenue base improves the company’s ability to scale gross margins, fund commercial expansion, and justify continued R&D and deployment investments if growth is sustained.
Negative Factors
Negative Cash Flow & Cash Burn
Persistently negative operating and free cash flow indicates the business is not yet self-funding and depends on external capital to sustain operations and investments. Continued burn increases dilution and refinancing risk, especially if commercialization or certification timelines slip or revenue growth slows.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Recovery
A durable revenue rebound in 2025 shows commercial traction for WISeKey's semiconductor, PKI and post-quantum offerings. A higher revenue base improves the company’s ability to scale gross margins, fund commercial expansion, and justify continued R&D and deployment investments if growth is sustained.
Read all positive factors
WISeKey International Holding (WKEY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$76.14M
Dividend YieldN/A
Average Volume (3M)333.36K
Price to Earnings (P/E)―
Beta (1Y)1.50
Revenue Growth-42.77%
EPS Growth83.21%
CountryUS
Employees109
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-1.82
Shares Outstanding8,176,574
10 Day Avg. Volume663,877
30 Day Avg. Volume333,363
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.32
Price to Sales (P/S)1.90
P/FCF Ratio-0.67
Enterprise Value/Market Cap-0.25
Enterprise Value/Revenue-1.56
Enterprise Value/Gross Profit-3.69
Enterprise Value/Ebitda0.47
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-2.4
Revenue Forecast (FY)$32.30M
WISeKey International Holding Business Overview & Revenue Model
Company Description
WISeKey International Holding AG, a cybersecurity company, provides integrated security solutions for the internet of things (IoT) and digital identity ecosystems in Switzerland, rest of Europe, the Middle East, Africa, North America, the Asia Pac...
How the Company Makes Money
WISeKey makes money primarily by selling cybersecurity and digital identity products and services centered on trust infrastructure. Key revenue streams include: (1) Digital identity and PKI services: fees from issuing and managing digital certific...
WISeKey International Holding Key Performance Indicators (KPIs)
WISeKey International Holding Earnings Call Summary
Earnings Call Date:Sep 23, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 16, 2026
Earnings Call Sentiment Neutral
The earnings call showed a company in transition, with significant strategic initiatives and a strong future revenue pipeline. However, current financial metrics indicate increased losses and minimal revenue growth. The promising technological advancements and partnerships suggest potential for future growth, but the current financial performance presents challenges.Positive Updates
Launch of Quantum-Resilient Chip
WISeKey plans to launch the world's first post-quantum chip, the Quantum Shield QS7001, in November 2025, aiming to secure critical applications against future quantum computing threats.
Negative Updates
Increased Operating Losses
Operating losses increased by $30.2 million to $27.3 million, driven by a one-off stock-based compensation charge of $10.1 million and increased investment in research and development.
Read all updates
Q2-2025 Updates
Positive
Negative
Launch of Quantum-Resilient Chip
WISeKey plans to launch the world's first post-quantum chip, the Quantum Shield QS7001, in November 2025, aiming to secure critical applications against future quantum computing threats.
Read all positive updates
Company Guidance
During the WISeKey International Holdings 2025 Interim Financial Results Earnings Conference Call, the company outlined its strategic focus on quantum convergence, emphasizing its aim to integrate post-quantum cryptography (PQC) into its products by 2030. WISeKey reported a slight revenue increase to $5.3 million in the first half of 2025, with projections for full-year revenues between $18 million and $21 million. The company highlighted its $170 million robust revenue pipeline from 2026 to 2028, driven by advances in semiconductors, blockchain, and satellite technology. WISeKey is pioneering the development of a post-quantum chip, expected to launch in November 2025, and expanding its satellite constellation to enhance connectivity. The call also emphasized WISeKey's partnerships, such as the Quantix Edge Security initiative in Spain, projected to generate €25 million over three years, and the strategic collaboration with the Swiss Army for secure communication solutions.WISeKey International Holding Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
54
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.99M | 19.29M | 11.88M | 30.92M | 23.81M | 17.65M |
| Gross Profit | 5.07M | 9.24M | 4.29M | 14.74M | 9.80M | 9.09M |
| EBITDA | -39.63M | -37.73M | -26.28M | -13.27M | -12.93M | -20.09M |
| Net Income | -8.27M | -6.07M | -13.45M | -15.36M | -27.48M | -20.34M |
Balance Sheet | ||||||
| Total Assets | 154.99M | 514.59M | 114.69M | 47.80M | 49.50M | 88.81M |
| Cash, Cash Equivalents and Short-Term Investments | 124.60M | 439.28M | 90.60M | 15.32M | 20.71M | 34.25M |
| Total Debt | 4.97M | 9.81M | 8.94M | 9.77M | 9.63M | 16.86M |
| Total Liabilities | 28.43M | 53.44M | 27.56M | 26.72M | 25.47M | 47.43M |
| Stockholders Equity | 31.47M | 45.92M | 25.05M | 26.68M | 26.26M | 35.90M |
Cash Flow | ||||||
| Free Cash Flow | -25.06M | -33.10M | -18.34M | -17.23M | -17.45M | -21.83M |
| Operating Cash Flow | -24.44M | -32.36M | -17.77M | -14.21M | -17.14M | -21.79M |
| Investing Cash Flow | -2.15M | -28.35M | 179.00K | -3.02M | -484.00K | -2.52M |
| Financing Cash Flow | 126.25M | 399.50M | 92.92M | 11.85M | 4.18M | 36.98M |
WISeKey International Holding Technical Analysis
Positive
7.57
Price Trends
6.88
Positive
7.67
Negative
7.55
Negative
Market Momentum
0.13
Negative
59.21
Neutral
84.60
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WKEY, the sentiment is Positive. The current price of 7.57 is above the 20-day moving average (MA) of 6.56, above the 50-day MA of 6.88, and above the 200-day MA of 7.55, indicating a neutral trend. The MACD of 0.13 indicates Negative momentum. The RSI at 59.21 is Neutral, neither overbought nor oversold. The STOCH value of 84.60 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WKEY.
WISeKey International Holding Risk Analysis
WISeKey International Holding disclosed 59 risk factors in its most recent earnings report. WISeKey International Holding reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
WISeKey International Holding Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $283.00M | -6.72 | -58.66% | ― | -31.51% | -241.84% | |
52 Neutral | $101.49M | -1.46 | 58.01% | ― | -68.60% | -220.58% | |
48 Neutral | $76.14M | -0.57 | -29.25% | ― | -42.77% | 83.21% | |
47 Neutral | $36.90M | -2.36 | 109.22% | ― | -38.72% | 16.01% | |
47 Neutral | $52.47M | -0.61 | -99.13% | ― | -24.98% | ― | |
43 Neutral | $25.76M | -0.30 | -2857.36% | ― | -7.59% | 45.77% |
* Technology Sector Average
WKEY
WISeKey International Holding
6.81
2.44
55.84%
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2.33
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GCTS
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1.59
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14.39%
WISeKey International Holding Corporate Events
SEALSQ Posts Triple-Digit Q1 2026 Growth and Confirms Aggressive Full-Year Outlook
Apr 9, 2026
On April 8, 2026, SEALSQ reported preliminary, unaudited Q1 2026 revenue of about $4.1 million, more than tripling year over year, driven by Vault-IC secure elements, the full-quarter consolidation of IC’ALPS, and recurring smart meter and P...
WISeKey’s SEALSQ Posts 66% Revenue Surge and Bolsters War Chest as Quantum-Security Push Accelerates
Apr 2, 2026
SEALSQ Corp, a subsidiary of WISeKey, reported audited 2025 revenue of $18.3 million on March 31, 2026, a 66% year-on-year increase driven by renewed demand for its semiconductor and PKI lines and initial post-quantum product activity, despite a w...
WISeKey Posts 58% FY 2025 Revenue Jump as Quantum-Secure Strategy Enters Commercial Acceleration
Mar 9, 2026
WISeKey reported on March 5, 2026 that its preliminary, unaudited full-year 2025 revenue rose 58% to $19 million, driven by strong demand for secure semiconductors and PKI products, contributions from acquired ASIC designer IC’ALPS, and earl...
WISeKey to Move Geneva HQ to Pont‑Rouge and Launch Quantum Center of Excellence
Mar 2, 2026
On February 23, 2026, WISeKey announced it will relocate its Geneva headquarters in August 2026 to Pont-Rouge, a new low‑carbon business district in Lancy that has rapidly become a hub for international firms and innovation-focused organizat...
WISeKey-Linked SEALSQ Backs Away From Quobly Takeover, Pursues Minority Stake Path
Feb 23, 2026
On February 20, 2026, SEALSQ Corp and French quantum computing firm Quobly said they had mutually decided to end talks over a potential majority investment or acquisition of Quobly by SEALSQ. The shift comes as both companies judge that a minority...
WISeKey’s SEALSQ Posts 66% 2025 Revenue Surge and Reaffirms Aggressive 2026 Growth Targets
Feb 18, 2026
SEALSQ Corp, a subsidiary of WISeKey, reported preliminary unaudited 2025 results on February 17, 2026, with revenue rising 66% year-on-year to $18 million, including $8 million in Q4, driven by core semiconductor and PKI demand, contributions fro...
WISeKey Names Veteran CFO to Steer WISeSat Through Nasdaq Listing Push
Feb 10, 2026
On February 10, 2026, WISeKey International Holding announced it has appointed seasoned finance executive Gwenael Rouy-Poirier as Chief Financial Officer of WISeSat.Space, its satellite connectivity subsidiary, with effect from February 2, 2026. T...
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.