Summary of SEALSQ (LAES) Conference Call - June 12, 2025 Company Overview - **Company Name**: SalesQ Corp. (formerly WiseKey) - **Ticker**: LAES - **Founded**: 1999 (WiseKey) and 1998 (CLSQ) - **Headquarters**: France - **Employees**: Approximately 70 - **Patents**: Over 118 patents Core Industry and Technology - **Industry**: Cybersecurity and Semiconductor - **Focus**: Development of secure semiconductors resistant to quantum computing threats - **Key Technology**: Digital identity services and semiconductor design, acting as a digital passport for devices Historical Context - **2016**: Acquisition of secure semiconductor segment from Inside Secure and rebranding to Wysky Semiconductors - **2021**: Initiated project to develop quantum-resistant semiconductors due to emerging threats from quantum computing - **2023**: Partial spin-off and separate listing on NASDAQ under ticker LAES Financial Highlights - **Cash Position**: $85 million at year-end 2024, currently over $100 million - **2024 Revenue**: $11 million, anticipated as a transitional year due to excess inventory in the semiconductor market - **Investment in R&D**: $5 million in 2024 for post-quantum chip development, with plans for an additional $7.2 million in 2025 Strategic Initiatives - **Post-Quantum Chips**: Targeting commercial launch by the end of 2025, with expected revenue generation in 2026 - **Acquisition of IC Alps**: Aiming to enhance end-to-end product offerings in ASIC design - **Investment Fund**: $20 million allocated towards quantum companies to strengthen the quantum roadmap - **Satellite Connectivity**: Collaboration with WiSATs for secure satellite communication Market Position and Competition - **Competitors**: General semiconductor players (Infineon, NXP, ST) and digital identity providers (DigiCert, Entrust) - **Unique Selling Proposition**: Combination of semiconductor technology and digital identity services Future Outlook - **2025 Goals**: Focus on quantum roadmap, expansion in the US market, and development of personalization centers - **Current Engagements**: 80 active discussions with potential clients valued at $93 million Key Risks and Considerations - **Market Volatility**: Dependence on the semiconductor market and potential delays in product certifications - **Technological Advancements**: Need to stay ahead of competitors in quantum-resistant technology Important Announcements - **Upcoming Certifications**: Anticipated positive market reaction to announcements regarding the development and commercialization of post-quantum chips - **Client Announcements**: Future client partnerships will be critical for market perception and stock performance Conclusion - **Management's Perspective**: Optimistic about the future, emphasizing the importance of ongoing R&D and strategic investments to solidify market position in quantum cryptography and cybersecurity solutions This summary encapsulates the key points discussed during the SEALSQ (LAES) conference call, highlighting the company's strategic direction, financial status, and market positioning in the evolving landscape of cybersecurity and semiconductor technology.

Core Insights - Cycurion has partnered with the Independent Colleges and Universities of Florida (ICUF) to provide cybersecurity services to 30 member institutions, enhancing their protection against cyber threats [1][2] - The partnership includes a webinar to introduce ICUF members to Cycurion's marquee Managed Security Service Provider (MSSP) solution, Cyber Shield, reflecting ICUF's commitment to providing leading cybersecurity resources [2] - Cycurion is a provider of IT cybersecurity solutions and AI, focusing on delivering secure and innovative services to various sectors, including government and healthcare [3] Company Overview - Cycurion, based in McLean, Virginia, specializes in cybersecurity, program management, and business continuity, utilizing its AI-enhanced ARx platform to safeguard client operations [3] - The company operates alongside subsidiaries such as Axxum Technologies, Cloudburst Security, and Cycurion Innovation, Inc., serving a diverse clientele [3] ICUF Overview - The Independent Colleges and Universities of Florida (ICUF) represents 30 private, nonprofit colleges and universities in Florida, established in 1965 to support access, affordability, and quality in higher education [4]

Core Viewpoint - Castellum, Inc. has announced a public offering of 4,166,667 Units at a price of $1.20 per Unit, aiming to raise approximately $5.0 million for working capital and general corporate purposes [1][2][3]. Group 1: Offering Details - Each Unit consists of one share of common stock and one warrant to purchase one share of common stock, with warrants exercisable at $1.22 per share and expiring 60 days from issuance [1][2]. - The offering is expected to close on or about June 13, 2025, subject to customary closing conditions [2]. Group 2: Financial Information - Gross proceeds from the offering are anticipated to be around $5.0 million before deducting placement agent fees and estimated offering expenses [2]. - Maxim Group LLC is acting as the sole placement agent for the offering on a reasonable best-efforts basis [2]. Group 3: Regulatory Information - A shelf registration statement on Form S-3 relating to the securities was filed with the SEC and became effective on January 24, 2025 [3]. - A preliminary prospectus supplement and accompanying prospectus have been filed with the SEC, with a final prospectus supplement to be filed as well [3].

Core Insights - Commvault will showcase its cyber resilience and data protection solutions at AWS re:Inforce from June 16-18, 2025, in Philadelphia [1][2] Company Highlights - Commvault is a leading provider of cyber resilience solutions, helping over 100,000 organizations maintain data safety and business continuity [6] - The company offers a comprehensive cyber resilience platform that integrates data security and rapid recovery across various workloads, emphasizing low total cost of ownership (TCO) [6] Event Participation - Commvault will exhibit at booth 631, providing product demonstrations of its Cloud platform and discussing the benefits of its solutions for early threat detection, accelerated response, and fast recovery of clean data [2][3] - A speaking session featuring Commvault CSO Bill O'Connell is scheduled for June 17 at 3:00 pm, focusing on current cybersecurity challenges and best practices for AWS customers [3] - Commvault CTO Brian Brockway will present on June 17 at 12:00 pm at booth 1322, discussing the integration of Commvault Cloud with Wiz and its impact on cyber resiliency and recovery [4] Product Offerings - Commvault's solutions include Cleanroom Recovery for testing cyber recovery plans, Clumio Backtrack for rapid recovery of datasets in Amazon S3, Cloud Rewind for restoring clean data, Air Gap Protect for immutable data storage, and Threat Scan for active threat monitoring [6]

Core Viewpoint - HUB Cyber Security Ltd. has achieved full compliance with Nasdaq listing requirements, marking a significant milestone following strategic restructuring and improved financial execution [1][2]. Company Overview - HUB Cyber Security Ltd. is a global leader in confidential computing and advanced secured data fabric technology, established in 2017 by veterans of the Israeli Defense Forces [5]. - The company specializes in secured data infrastructure, providing solutions for financial institutions, governments, and regulated enterprises, and operates in over 30 countries [5]. Compliance and Financial Performance - Nasdaq confirmed that HUB meets the minimum bid price and market value of listed securities thresholds, indicating successful compliance with Listing Rules [2]. - The company has undergone strategic restructuring, which has led to improved financial execution and strengthened corporate governance [2]. Business Strategy and Growth - HUB has been executing a focused commercial expansion strategy, significantly growing its contracted revenue base and accelerating deployments in banking, government, and digital asset sectors [3]. - The introduction of new AI-powered and quantum-resilient infrastructure solutions has been a response to rising client demand for secure and compliant solutions [3]. Market Position and Agreements - HUB continues to sign multi-year agreements with leading financial institutions and sovereign entities, expanding its presence in North America and Europe [4]. - The company is positioned as a critical infrastructure provider to security-sensitive organizations, with momentum building across public and private sector channels [4].

Core Insights - The report highlights a significant gap in cybersecurity defenses, particularly against AI threats and API vulnerabilities, with only 8% of organizations currently utilizing AI-based protection solutions [3][17] - There is a growing concern regarding business logic attacks, with many organizations lacking adequate training and documentation to effectively mitigate these risks [6][17] Group 1: Cybersecurity Landscape - The weaponization of AI by malicious actors is intensifying cybersecurity threats, leading to increased vulnerabilities in web applications and APIs [4][17] - Organizations are experiencing a surge in API usage, with a 42% increase in 2025 compared to 2023, yet they remain poorly protected against associated risks [17] - Only 29% of security staff are fully trained to handle API business logic attacks, indicating a significant skills gap in the industry [6][17] Group 2: Organizational Preparedness - A lack of confidence in defensive measures is prevalent, with many organizations admitting to major concerns about their cybersecurity readiness [8][17] - On average, only 6% of organizations have full documentation for all their APIs, which complicates risk management [3][17] - Half of the respondents are unaware of the third-party code being used in their applications, raising concerns about data security [6][17] Group 3: Financial Implications - Downtime caused by application DDoS attacks can be costly, averaging $6,100 per minute or $366,000 per hour [17] - Organizations face high compliance pressures, with 54% expressing significant concern regarding various regulations [17]

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on CyberArk (CYBR), and emphasizes the importance of using these recommendations in conjunction with other analytical tools like the Zacks Rank. Group 1: Brokerage Recommendations - CyberArk has an average brokerage recommendation (ABR) of 1.13, indicating a consensus between Strong Buy and Buy based on 32 brokerage firms' recommendations [2] - Out of the 32 recommendations, 29 are Strong Buy and 2 are Buy, which accounts for 90.6% and 6.3% of all recommendations respectively [2] - Despite the positive ABR, the article cautions against making investment decisions solely based on brokerage recommendations due to their historical limited success in predicting stock price increases [5][10] Group 2: Zacks Rank - The Zacks Rank categorizes stocks into five groups, from Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell), and is based on earnings estimate revisions, making it a more reliable indicator of near-term stock performance [8][11] - The Zacks Consensus Estimate for CyberArk has increased by 74.1% over the past month to $3.80, reflecting analysts' growing optimism about the company's earnings prospects [14] - The recent change in the consensus estimate, along with other factors, has resulted in a Zacks Rank 1 (Strong Buy) for CyberArk, suggesting a strong potential for stock price appreciation [15]

Core Insights - Qualys, Inc. has opened a new office in Washington, D.C. to expand its support for the growing public sector customer base amid escalating cyber threats and the need for operational efficiency [1][4][5] Industry Context - Government agencies are currently facing challenges such as shrinking budgets, limited resources, and an increasing frequency and sophistication of cyberattacks, which heightens the pressure on teams responsible for protecting sensitive data and critical infrastructure [2] Company Strategy - To address these challenges, public sector organizations are transitioning from reactive defense to proactive risk management, with Qualys leading this shift through the introduction of the Risk Operations Center (ROC) model. This model allows agencies to unify visibility, prioritize significant threats, and automate responses, thereby enhancing cyber resilience and operational efficiency [3] Commitment to Public Sector - The expansion of Qualys' operations is a continuation of its commitment to serving public sector agencies, as evidenced by its support for numerous federal entities and its progress towards achieving FedRAMP High Authorization for its cloud platform, which aligns with the stringent security and compliance requirements of government customers [4] Leadership Perspective - The CEO of Qualys emphasized that the new office represents a strategic investment in the federal space, aiming to provide public sector agencies with efficient and powerful solutions to mitigate cyber risks [5] Product Offering - Qualys offers the Enterprise TruRisk Platform, which utilizes a single agent to deliver critical security intelligence and automate vulnerability detection, compliance, and protection across various IT environments, including on-premises, cloud, and mobile devices [6]

Core Insights - The article discusses the evolving landscape of cybersecurity, emphasizing that artificial intelligence (AI) is not replacing cybersecurity but is fundamentally changing the rules of engagement in the industry [1][2] Group 1: Industry Trends - The phenomenon of "AI vs. AI cyberwarfare" is on the rise, with cybercriminals utilizing generative AI and autonomous tools for large-scale attacks, indicating a shift from human hackers to AI-driven threats [2] - Malicious actors are employing AI co-pilots, deepfakes, and algorithmic manipulation for various malicious activities, including corporate sabotage and market disruption, highlighting an escalating threat environment for businesses [2] Group 2: Company Positioning - High Wire Networks is at the forefront of deploying AI-augmented cyber defense systems that proactively detect and neutralize threats, moving from reactive to hyperautomated security solutions [3] - The company has been recognized for its innovative, AI-driven security solutions, as reflected in its feature in Forbes and its commitment to safeguarding clients in a rapidly changing threat landscape [4] Group 3: Company Overview - High Wire Networks, Inc. is a global provider of managed cybersecurity solutions, serving over 1,100 managed security customers, including Fortune 500 companies and large government agencies [5] - The company's Overwatch platform offers a range of subscription services for threat prevention, detection, and response, catering to the security needs of organizations of all sizes [6] - High Wire has been ranked as a Top 12 Managed Security Service Provider in the Americas by Frost & Sullivan and has been included in CRN's MSP 500 and Elite 150 lists [7]

Core Insights - Telos Corporation has secured a $3.7 million contract extension with the U.S. Air Force to provide automation solutions for cyber governance, risk, and compliance through its platform Xacta [2][3] - The contract aims to assist the Air Force Intelligence Community in automating a significant portion of its cyber GRC requirements across various environments, including top secret and secret networks [2][3] - The CEO of Telos expressed pride in continuing to support the Air Force in meeting complex cybersecurity standards and reducing compliance burdens through the efficiency of Xacta [3] Company Overview - Telos Corporation (NASDAQ: TLS) specializes in cybersecurity, cloud security, and enterprise security solutions, catering to security-conscious organizations globally [6] - The company's offerings include IT risk management, information security, cloud-based asset protection, identity and access management, and network defense [6] - Telos serves a diverse clientele, including commercial enterprises, regulated industries, and government customers [6]