Core Insights - WISeKey's subsidiary WISeSat.Space is set to launch a nanosatellite equipped with SEALSQ's post-quantum cryptographic technology aboard a SpaceX Falcon 9 rocket on November 10, 2025, from California [1][2] - The satellite will serve as a testbed for post-quantum communication protocols, marking a significant step towards quantum-resilient satellite-based IoT connectivity [2][3] - The mission emphasizes WISeSat's commitment to secure, sovereign, and sustainable space communications capable of addressing cybersecurity challenges posed by quantum computing [2][4] Technology and Innovation - The WISeSat satellite integrates SEALSQ's post-quantum cryptographic semiconductors and WISeKey's Root of Trust, enabling secure end-to-end communication between satellites, ground stations, and IoT devices [3] - This launch will be one of the first demonstrations of post-quantum encryption tested in orbit, providing real-time validation of SEALSQ's technology in space conditions [3][4] - The upcoming satellite launch will lead to the deployment of four additional post-quantum-ready satellites in 2026, each incorporating enhanced SEALSQ technologies [6] Strategic Vision - Carlos Moreira, CEO of WISeKey, highlighted that the launch represents a milestone in showcasing the future of trusted connectivity that is quantum-secure and universally accessible [4] - The mission aims to build a global, resilient, and sovereign infrastructure to safeguard digital assets against emerging cybersecurity threats [4] - WISeSat's nanosatellite constellation is designed to provide real-time, low-cost, and secure IoT connectivity across various sectors, including energy, logistics, infrastructure, and climate monitoring [5] Company Overview - WISeKey International Holding Ltd operates through several subsidiaries, including SEALSQ Corp, which focuses on semiconductors and post-quantum technology products, and WISeSat AG, which specializes in secure satellite communication for IoT applications [7][8] - The company has deployed over 1.6 billion microchips across various IoT sectors, playing a crucial role in securing the Internet of Everything [8] - WISeKey's technologies integrate into a comprehensive platform that secures digital identity ecosystems using Blockchain, AI, and IoT technologies [8]

Financial Data and Key Metrics Changes - For the first half of 2025, the company reported revenue of $4.8 million, consistent with the first half of 2024, reflecting a strategic transition period ahead of new technology launches [18] - Gross profit was $1.6 million, with a gross profit margin increase of 15 percentage points from 19% in the previous year to 34% [19] - Cash reserves increased to $121 million as of June 30, 2025, up from $19 million at the same point last year and $85 million at the end of 2024 [20] Business Line Data and Key Metrics Changes - The company achieved significant progress in its product and technology milestones, including the Quasar program and the QVOL TPM, with initial revenues expected in 2026 [5][7] - The TPM engagement more than doubled from 35 customers at the end of 2024 to 82 customers by mid-2025, validating the relevance of the company's roadmap [8] Market Data and Key Metrics Changes - The global embedded security chip market is projected to reach nearly $10 billion by 2028, with a scarcity of suppliers offering certified secure products, presenting a significant opportunity for the company [4] - The company is expanding its global footprint by opening a sales office in India and appointing distribution in Asia, Europe, and Turkey [9] Company Strategy and Development Direction - The company is focused on delivering quantum-resistant semiconductor solutions and secure digital infrastructure, with a strong emphasis on regulatory compliance and resilience against emerging threats [3][4] - The acquisition of IC'ALPS has strengthened the company's ASIC capabilities, particularly in the medical, automobile, and IoT industries [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong momentum and financial resources, positioning it to capitalize on growing demand for post-quantum resilient technology [23] - The outlook for 2025 anticipates revenues between $17.5 million and $20 million, representing a growth of 59% to 82% year-on-year [15][21] Other Important Information - The company has allocated $4.7 million for research and development in the first half of 2025, with a total budget of $7.2 million for the year [13][20] - A strategic project with the Swiss Army has been signed, focusing on the use of the company's satellite technology [12] Q&A Session Summary Question: Clarification on full-year R&D budget - The company mentioned a one-off expense for stock-based compensation that affected the first half's R&D spending [27] Question: Annual R&D run rate estimate - The estimated run rate for R&D, excluding the one-time expense, would be around $500,000 to $550,000 per month [36] Question: Pipeline estimate process - The pipeline estimate of $170 million includes identified opportunities evaluated with a low success percentage initially, moving through various stages until reaching design win [39]