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WISeKey International Holding
(NASDAQ:WKEY)
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Rating:42Neutral
Price Target:
$6.00
▼(-4.15% Downside)
Action:Reiterated
Date:07/18/26
The score is held down primarily by weak fundamentals—large operating losses, persistent and worsening cash burn, and KPI-indicated concentration/reclassification risks—despite a notable 2025 revenue rebound and improved net loss. Technicals add pressure as the stock trades below key moving averages with negative MACD and low RSI. Valuation provides limited support given a negative P/E and no dividend yield.
Positive Factors
Revenue Growth & Pipeline
A strong revenue rebound and a multi‑year sales pipeline indicate the company is moving from validation to commercial execution. Durable demand for PKI, secure elements and recurring services can support sustained top‑line growth and recurring revenue as product ramps and contracts convert.
Negative Factors
Persistent Cash Burn
Sustained negative operating and free cash flow indicates the business is not yet self‑funding. Over a multi‑month horizon this necessitates continued reliance on outside capital, which can dilute stakeholders or constrain strategic options if financing conditions tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Pipeline
A strong revenue rebound and a multi‑year sales pipeline indicate the company is moving from validation to commercial execution. Durable demand for PKI, secure elements and recurring services can support sustained top‑line growth and recurring revenue as product ramps and contracts convert.
Read all positive factors
WISeKey International Holding Key Performance Indicators (KPIs)
WISeKey International Holding (WKEY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$73.29M
Dividend YieldN/A
Average Volume (3M)333.36K
Price to Earnings (P/E)―
Beta (1Y)1.71
Revenue Growth62.79%
EPS Growth60.33%
CountryUS
Employees202
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.67
Shares Outstanding8,354,344
10 Day Avg. Volume663,877
30 Day Avg. Volume333,363
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)1.92
Price to Sales (P/S)4.58
P/FCF Ratio-2.67
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-3.42
Revenue Forecast (FY)$32.30M
WISeKey International Holding Business Overview & Revenue Model
Company Description
Founded in 1999 and headquartered in Zug, Switzerland, WISeKey International Holding AG is a global cybersecurity firm. It delivers comprehensive security solutions specifically designed for the Internet of Things (IoT) and digital identity ecosys...
How the Company Makes Money
WISeKey makes money primarily by selling cybersecurity and digital trust products and services tied to digital identity and IoT security. Key revenue streams include: (1) Digital certificate and PKI-related offerings: fees for issuing and managing...
WISeKey International Holding Earnings Call Summary
Earnings Call Date:Sep 23, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 29, 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 | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 19.29M | 11.88M | 30.92M | 23.20M | 22.26M |
| Gross Profit | 9.24M | 4.29M | 14.74M | 9.80M | 9.09M |
| EBITDA | -37.73M | -26.28M | -13.27M | -12.04M | -20.40M |
| Net Income | -6.07M | -13.45M | -15.36M | 5.77M | -24.09M |
Balance Sheet | |||||
| Total Assets | 514.59M | 114.69M | 47.80M | 21.66M | 88.81M |
| Cash, Cash Equivalents and Short-Term Investments | 439.28M | 90.60M | 15.32M | 4.06M | 34.25M |
| Total Debt | 9.81M | 8.94M | 9.77M | 14.12M | 22.06M |
| Total Liabilities | 53.44M | 27.56M | 26.72M | 21.45M | 47.43M |
| Stockholders Equity | 45.92M | 25.05M | 26.68M | 212.00K | 35.90M |
Cash Flow | |||||
| Free Cash Flow | -33.10M | -18.34M | -17.23M | -17.45M | -21.83M |
| Operating Cash Flow | -32.36M | -17.77M | -14.21M | -17.14M | -21.79M |
| Investing Cash Flow | -28.35M | 179.00K | -3.02M | -484.00K | -2.52M |
| Financing Cash Flow | 399.50M | 92.92M | 11.85M | 4.18M | 36.98M |
WISeKey International Holding Technical Analysis
Negative
6.26
Price Trends
7.54
Negative
7.36
Negative
8.15
Negative
Market Momentum
-0.32
Negative
37.94
Neutral
28.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WKEY, the sentiment is Negative. The current price of 6.26 is below the 20-day moving average (MA) of 6.57, below the 50-day MA of 7.54, and below the 200-day MA of 8.15, indicating a bearish trend. The MACD of -0.32 indicates Negative momentum. The RSI at 37.94 is Neutral, neither overbought nor oversold. The STOCH value of 28.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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% | |
58 Neutral | $38.24M | 0.60 | -2573.87% | ― | -38.72% | 16.01% | |
49 Neutral | $238.93M | -14.57 | -59.94% | ― | -21.32% | -113.45% | |
43 Neutral | $36.40M | -0.22 | -134.56% | ― | -34.03% | ― | |
43 Neutral | $169.19M | -2.27 | 60.21% | ― | -32.54% | -89.88% | |
42 Neutral | $73.29M | -9.26 | -15.69% | ― | 62.79% | 60.33% | |
41 Neutral | $25.53M | -0.22 | -1175.77% | ― | -33.81% | 44.19% |
* Technology Sector Average
WKEY
WISeKey International Holding
6.14
0.42
7.34%
PXLW
Pixelworks
6.01
-4.64
-43.57%
QUIK
QuickLogic
13.11
6.83
108.76%
SQNS
Sequans Communications S A
2.43
-11.37
-82.39%
MOBX
Mobix Labs
1.68
-6.52
-79.51%
GCTS
GCT Semiconductor Holding
1.86
0.51
37.78%
WISeKey International Holding Corporate Events
WISeKey H1 2026 Revenue Surges 115% as Quantum and Post-Quantum Strategy Accelerates
Jul 15, 2026
WISeKey reported preliminary, unaudited financial figures for the first half of 2026 on July 13, 2026, with revenue rising 115% year-on-year to about $11.4 million and cash and short-term investments reaching roughly $495 million, leaving the grou...
SEALSQ Posts 120% H1 Revenue Surge and Reaffirms 2026 Growth Outlook
Jul 8, 2026
In a July 6, 2026 update, SEALSQ reported preliminary unaudited H1 2026 revenue of about $11 million, up 120% year-on-year, with Q2 revenue accelerating to roughly $7 million and cash and short-term investments at about $495 million, supported by ...
WISeKey Shareholders Back All Proposals at 2026 AGM, Reinforcing Governance Stability
Jul 2, 2026
WISeKey International Holding, a Swiss-based cybersecurity, digital identity and IoT group, operates a platform built on root-of-trust, PKI and semiconductor technologies deployed in over 1.6 billion IoT microchips. Through units such as SEALSQ fo...
WISeKey and SEALSQ Launch Quantisimo, Pursue $575 Million SPAC Deal with GigCapital8
Jun 30, 2026
WISeKey International Holding, based in Switzerland and listed on SIX and Nasdaq, operates in cybersecurity and trusted digital ecosystems, providing digital trust, secure semiconductors, and cryptographic solutions. Its subsidiary SEALSQ focuses ...
WISeKey Subsidiary Files Form F-4 for WISeSat–Columbus Acquisition SPAC Merger
Jun 26, 2026
On June 23, 2026, WISeSat.Space Holdings Corp., a wholly owned subsidiary of WISeSat.Space Corp. and ultimately of WISeKey International Holding, filed a Form F-4 registration statement with the U.S. Securities and Exchange Commission. The filing ...
SEALSQ Leads €115 Million Quobly Series A to Deepen Quantum Security Push
Jun 11, 2026
On May 26, 2026, SEALSQ agreed to acquire a minority stake in French quantum computing firm Quobly SAS via a €14.999 million Series A investment, and the deal closed on June 2, 2026, giving SEALSQ a board seat and shared veto rights over maj...
WISeKey’s SEALCOIN Raises $4 Million to Accelerate Space-Based Blockchain Transaction Layer
Jun 11, 2026
On June 10, 2026, WISeKey announced that its SEALCOIN subsidiary, which builds a decentralized physical internet and space-focused blockchain platform, secured a $4 million strategic investment to speed deployment of its space-based transaction in...
WISeKey’s WISeSat Advances SPAC Merger Plan with Amended Confidential F-4 Filing
Jun 5, 2026
On June 4, 2026, WISeKey and its space subsidiary WISeSat announced that WISeSat.Space Holdings confidentially submitted an amended draft Form F-4 registration statement to the U.S. Securities and Exchange Commission on May 29, 2026. The filing re...
WISeKey’s SEALSQ Takes Majority Stake in Wecan Group to Drive Post-Quantum AI Compliance for Banks
Jun 4, 2026
On June 2, 2026, WISeKey subsidiary SEALSQ Corp announced it had increased its stake in Geneva-based Wecan Group to a majority holding, deepening its push into secure compliance technology for the financial sector. SEALSQ focuses on semiconductors...
WISeKey Sets June 29, 2026 AGM to Ratify 2025 Results and Board Slate
Jun 1, 2026
On June 1, 2026, WISeKey International Holding published the agenda for its 2026 Annual General Meeting, set for June 29, 2026 in Zurich, where shareholders will vote on approval of the 2025 annual report and audited financial statements and on th...
WISeKey CEO Flags Breakout 2025 and 2026 ‘Year of Convergence’ in Quantum-Secure Push
May 8, 2026
WISeKey reported that 2025 was a breakout year, with revenue reaching $19.3 million, up 62% year on year, driven mainly by subsidiary SEALSQ’s 66% growth and a doubling of Q4 sales. The company also reinforced its financial position, ending ...
WISeKey Files Form 6-K to Submit 2025 Annual Report to U.S. SEC
May 4, 2026
On May 4, 2026, WISeKey International Holding AG filed a Form 6-K with the U.S. Securities and Exchange Commission for the month of May 2026 as a foreign private issuer. The submission primarily served to furnish investors with the company’s...
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.