WISeKey International Holding (WKEY)
NASDAQ:WKEY
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WISeKey International Holding
(NASDAQ:WKEY)
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Rating:42Neutral
Price Target:
$7.00
▲(6.06% Upside)
Action:ReiteratedDate:11/25/25
WISeKey International Holding's overall stock score reflects significant financial challenges, with declining revenues and negative profit margins being the most impactful factors. While there are promising strategic initiatives and a strong future revenue pipeline, current financial instability and valuation concerns weigh heavily on the score. Technical analysis provides mixed signals, and the earnings call suggests potential for future growth, but immediate financial performance remains a critical risk.
Positive Factors
Strong Cash Position
A $124.6M cash balance provides a meaningful runway to fund R&D, build the post‑quantum chip and expand the satellite IoT business without immediate reliance on dilutive financing. This liquidity supports multi‑year strategic initiatives and reduces short‑term solvency risk.
Negative Factors
Revenue Decline and Margin Compression
Falling revenue and a sharp gross margin decline reduce operating leverage and limit internal funding for growth. Sustained margin compression erodes profitability even if top line rebounds, making durable margin recovery necessary to achieve self‑funded expansion and long‑term viability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Position
A $124.6M cash balance provides a meaningful runway to fund R&D, build the post‑quantum chip and expand the satellite IoT business without immediate reliance on dilutive financing. This liquidity supports multi‑year strategic initiatives and reduces short‑term solvency risk.
Read all positive factors
WISeKey International Holding (WKEY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$75.10M
Dividend YieldN/A
Average Volume (3M)333.36K
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue Growth-42.77%
EPS Growth83.21%
CountryUS
Employees109
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-1.06
Shares Outstanding8,176,574
10 Day Avg. Volume663,877
30 Day Avg. Volume333,363
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.47
Price to Sales (P/S)1.00
P/FCF Ratio-0.65
Enterprise Value/Market Cap-0.25
Enterprise Value/Revenue-1.56
Enterprise Value/Gross Profit-3.69
Enterprise Value/Ebitda0.47
Forecast
1Y Price Target
$13.00Price Target Upside96.97% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-2.4
Revenue Forecast (FY)$26.90M
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 generates revenue through multiple streams, including the sale of cybersecurity solutions, subscription services for digital identity management, and licensing fees for its technology. The company capitalizes on partnerships with organizat...
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:Apr 30, 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
30
Negative
Balance Sheet
40
Negative
Cash Flow
35
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.99M | 11.88M | 30.92M | 23.81M | 17.65M | 14.78M |
| Gross Profit | 5.07M | 4.29M | 14.74M | 9.80M | 9.09M | 5.46M |
| EBITDA | -39.63M | -26.28M | -13.27M | -12.93M | -20.09M | -17.19M |
| Net Income | -8.27M | -13.45M | -15.36M | -27.48M | -20.34M | -28.66M |
Balance Sheet | ||||||
| Total Assets | 154.99M | 114.69M | 47.80M | 49.50M | 88.81M | 52.88M |
| Cash, Cash Equivalents and Short-Term Investments | 124.60M | 90.60M | 15.32M | 20.71M | 34.25M | 28.84M |
| Total Debt | 4.97M | 8.94M | 9.77M | 9.63M | 16.86M | 16.97M |
| Total Liabilities | 28.43M | 27.56M | 26.72M | 25.47M | 47.43M | 38.45M |
| Stockholders Equity | 31.47M | 25.05M | 26.68M | 26.26M | 35.90M | 16.27M |
Cash Flow | ||||||
| Free Cash Flow | -25.06M | -18.34M | -17.23M | -17.45M | -21.83M | -12.60M |
| Operating Cash Flow | -24.44M | -17.77M | -14.21M | -17.14M | -21.79M | -12.55M |
| Investing Cash Flow | -2.15M | 179.00K | -3.02M | -484.00K | -2.52M | -3.90M |
| Financing Cash Flow | 126.25M | 92.92M | 11.85M | 4.18M | 36.98M | 21.48M |
WISeKey International Holding Technical Analysis
Neutral
6.60
Price Trends
6.93
Negative
7.78
Negative
7.53
Negative
Market Momentum
-0.18
Negative
49.27
Neutral
77.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WKEY, the sentiment is Neutral. The current price of 6.6 is above the 20-day moving average (MA) of 6.47, below the 50-day MA of 6.93, and below the 200-day MA of 7.53, indicating a neutral trend. The MACD of -0.18 indicates Negative momentum. The RSI at 49.27 is Neutral, neither overbought nor oversold. The STOCH value of 77.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
55 Neutral | $191.38M | ― | -58.66% | ― | -28.05% | -488.63% | |
49 Neutral | $93.52M | -1.46 | ― | ― | -46.98% | -186.82% | |
47 Neutral | $34.61M | -2.36 | 109.22% | ― | -38.72% | 16.01% | |
45 Neutral | $27.52M | -0.30 | -2857.36% | ― | ― | ― | |
44 Neutral | $40.15M | -0.61 | -99.13% | ― | 2.80% | ― | |
42 Neutral | $75.10M | -0.57 | -29.25% | ― | -42.77% | 83.21% |
* Technology Sector Average
WKEY
WISeKey International Holding
6.61
2.38
56.15%
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WISeKey International Holding Corporate Events
WISeKey and Columbus Advance WISeSat SPAC Deal with Confidential F-4 Filing and Quantum-Secure Test Satellite Launch
Dec 29, 2025
On December 29, 2025, WISeKey International Holding AG and Singapore-based SPAC Columbus Acquisition Corp announced that a newly formed holding company, WISeSat.Space Holdings Corp (Pubco), has confidentially submitted a draft Form F-4 registratio...
WISeKey Announces Redomiciliation to British Virgin Islands
Nov 18, 2025
WISeKey International Holding Ltd announced on November 18, 2025, its intention to redomicile from Switzerland to the British Virgin Islands through a cross-border merger. This strategic move aims to leverage the BVI’s flexible corporate leg...
WISeKey Announces Strategic Business Combination with Columbus Acquisition Corp
Nov 18, 2025
On November 9, 2025, WISeKey International Holding Ltd entered into a business combination agreement with Columbus Acquisition Corp and other entities, aiming to restructure its operations through a series of transactions. This agreement will resu...
WISeKey to Publicly List WISeSat.Space Following $250M Business Combination
Nov 12, 2025
On November 10, 2025, WISeKey International Holding AG announced a definitive business combination agreement with Columbus Acquisition Corp. to publicly list its subsidiary, WISeSat.Space Corp., as WISeSat.Space Holdings Corp. on Nasdaq. The trans...
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.