Core Insights - Quantum stocks experienced volatility due to potential U.S. government investment in the sector, with initial sell-offs followed by recovery on positive news [1][2][3] Group 1: Market Reactions - Quantum stocks sold off early in the week, influenced by a Reuters report on potential U.S. export curbs to China [1] - A subsequent Wall Street Journal report indicated discussions between several quantum companies and the U.S. government for financial support, leading to a rebound in stock prices [2][3] - Quantum stocks, including IonQ, Rigetti, and D-Wave, faced significant declines, with D-Wave down 15% and Rigetti down 16% over the week [7] Group 2: Company Developments - SEALSQ Corp. launched the Quantum Shield QS7001, a secure chip with NIST-standardized post-quantum cryptography, and achieved a market cap exceeding $1 billion [4][5] - IonQ announced a new global benchmark in computational accuracy with 99.99% two-qubit gate fidelity, surpassing the previous record [6] - Despite the overall market decline, IonQ's stock performed relatively better, closing down only 4% over the past five days [6]

Core Insights - SEALSQ Corp has launched the Quantum Shield QS7001, the first secure chip embedding NIST-standardized Post-Quantum Cryptography algorithms at the hardware level, set to debut in mid-November 2025 [1][2] - The chip integrates ML-KEM (CRYSTALS-Kyber) and ML-DSA (CRYSTALS-Dilithium) algorithms, offering up to 10× performance gains and enhanced security features [2] - SEALSQ is positioned to address the security risks posed by quantum computing, with NIST's 2024 PQC standards and new mandates requiring PQC adoption by 2030 [3] Product Features - The Quantum Shield QS7001 provides advanced tamper protection and side-channel resistance, built as an open hardware platform supporting custom firmware [2] - Development kits for the chip will be available by mid-November 2025, with QVault TPM variants expected in the first half of 2026 [2] Market Context - Quantum computing poses a significant threat to existing ECC and RSA systems, which are critical for sectors like defense, healthcare, and energy [3] - SEALSQ's solutions are designed to mitigate risks associated with future quantum attacks and "Harvest Now, Decrypt Later" scenarios [3] Company Positioning - SEALSQ is one of fewer than ten companies globally certified to Common Criteria EAL5+ and FIPS 140-3 standards, with secure personalization centers in Switzerland and France [4] - The company is exploring new locations in California and Arizona for a Post-Quantum Personalization Center to support secure chip provisioning for various applications [4] Global Reach - SEALSQ has secured over 1.75 billion devices worldwide, reinforcing its leadership in post-quantum security through a combination of certified hardware and trusted services [5] - The company focuses on developing Quantum Resistant Cryptography and Semiconductors to address urgent security challenges posed by quantum computing [6][7]

Core Insights - SEALSQ Corp has announced the launch of the Quantum Shield QS7001, the first secure chip to integrate NIST-standardized Post-Quantum Cryptography (PQC) algorithms directly at the hardware level, set for official release in mid-November 2025 [2][6][13] Product Details - The Quantum Shield QS7001 incorporates PQC algorithms ML-KEM (CRYSTALS-Kyber) and ML-DSA (CRYSTALS-Dilithium) directly in silicon, providing 10× performance gains, enhanced side-channel resistance, and advanced tamper protection [5][6] - The chip is designed as an open hardware platform, supporting custom firmware and hybrid cryptography migration, with development kits expected to be available to customers [6] Industry Context - Quantum computing poses a significant threat to existing public-key cryptography systems, including ECC and RSA, which are widely used across various sectors such as defense, healthcare, and industrial automation [6][7] - The U.S. CNSA 2.0 and Executive Orders mandate the adoption of PQC by 2030, while the EU and allies plan mandatory transitions by 2026–2030 to secure critical sectors against future quantum attacks [7] Company Positioning - SEALSQ is one of fewer than ten companies globally to achieve the highest levels of international security certification, including Common Criteria EAL5+ and FIPS 140-3, and has secured over 1.75 billion devices worldwide [9][13] - The company aims to provide a robust, future-proof protection for sensitive data across various applications, including multi-factor authentication, smart energy, and healthcare systems [15] Use Cases - The Quantum Shield QS7001 is positioned to protect mission-critical systems in defense and aerospace, safeguard patient data in healthcare, ensure the resilience of energy systems, and enable secure authentication in IoT and edge devices [11]

Core Insights - SEALSQ Corp is set to unveil its next-generation chip, the Quantum Shield QS7001, at the IQT Quantum + AI Summit in New York City, scheduled for mid-November 2025 [2][7] - The CEO, Carlos Moreira, will deliver a keynote speech focusing on the importance of quantum-resistant security in the era of quantum computing and artificial intelligence [4][6] - The company emphasizes the need for robust security measures to protect critical data and infrastructure from quantum threats, highlighting the integration of Post-Quantum Cryptography in their semiconductor solutions [11][10] Company Overview - SEALSQ specializes in developing and selling semiconductors, PKI, and Post-Quantum technology hardware and software products [4][9] - The company is recognized as a leading innovator in Post-Quantum Technology, aiming to address security challenges posed by advancing quantum computing [9][11] - SEALSQ's products are designed to safeguard sensitive data across various applications, including healthcare, defense, and industrial automation [11] Event Participation - The IQT Quantum + AI Summit will take place from October 19–21, 2025, where SEALSQ will participate in discussions with other industry leaders [5][8] - The keynote titled "AI Meets Quantum, Building Unbreakable Post-Quantum Security" will address global regulations and standards that are shaping the transition beyond classical cryptography [6][4]

Financial Data and Key Metrics Changes - For the first half of 2025, revenues grew slightly by $0.1 million to $5.3 million, reflecting a continued transition period ahead of expected growth in the second half [19] - Operating losses increased by $13.2 million to $27.3 million, primarily due to a one-off stock-based compensation charge and increased investments in R&D and administrative costs [20] - The net loss for the six months ending June 2025 was $22.3 million, an increase of $6.8 million compared to the same period last year [21] - The company has a strong cash balance of $124.6 million as of June 30, 2025, allowing for accelerated technological development and strategic investments [21] Business Line Data and Key Metrics Changes - The company is focusing on next-generation quantum-resistant chips, the SealCoin transactional IoT platform, and the WISe.ART expansion [21] - The backlog of booked orders for 2026 is approximately 300% higher than at the end of 2025, indicating strong future demand [19] Market Data and Key Metrics Changes - The company expects full-year revenues to be in the range of $18 to $21 million, driven by a return to growth in demand for traditional semiconductor products and the consolidated revenue of IC'ALPS [22] - A robust pipeline of revenue opportunities amounting to $170 million for the period 2026 to 2028 has been established [17] Company Strategy and Development Direction - The company is executing a quantum convergence strategy that combines traditional identity security methods with emerging quantum-safe technologies [6][7] - Strategic partnerships, such as the QuantumX security initiative in Spain, are being developed to enhance shareholder value and create new addressable markets [13] - The company is also focusing on scaling execution and expanding its operational capabilities in the second half of 2025 [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong growth in the second half of the year, with expectations of increased demand for quantum-resistant solutions due to regulatory pressures [22][36] - The company is positioning itself to shape the future of digital trust and security, emphasizing the importance of quantum resilience in critical infrastructures [17][36] Other Important Information - The company is pioneering the integration of post-quantum cryptography into its semiconductor products, with the first post-quantum chip expected to be launched in November 2025 [8][10] - The WISe.ART platform is evolving to include digital twin technology and is expected to generate new revenue streams through tokenization and machine-to-machine transactions [40][42] Q&A Session Summary Question: Contribution from Quantix and margin expectations - The contribution from Quantix is expected to be $25 million over three years, with varying margins depending on the nature of the project [24] - Product revenues are anticipated even before the personalization center is fully operational [25] Question: Breakdown of the $170 million pipeline - The pipeline includes contributions from the Quantum Shield QS7001 chip, Trusted Platform Model (TPM) chips, and revenue from personalization centers [33][37] Question: Path to commercializing WISe.ART and SealCoin - The commercialization of WISe.ART is focused on creating digital twins and integrating SealCoin as a payment method for transactions between devices [39][42]

Financial Data and Key Metrics Changes - For the first half of 2025, revenues grew slightly by $0.1 million to $5.3 million, reflecting a continued transition period ahead of expected growth in the second half [19] - Operating losses increased by $13.2 million to $27.3 million, largely due to a one-off stock-based compensation charge and increased investments in R&D and infrastructure [20] - Net loss for the six months ended June 2025 was $22.3 million, an increase of $6.8 million compared to the same period last year [21] - The company has a strong balance sheet with a cash balance of $124.6 million as of June 30, 2025, allowing for accelerated technological development [21] Business Line Data and Key Metrics Changes - The company is focusing on next-generation quantum-resistant chips, the SealCoin transactional IoT platform, and the WISe.ART expansion [21] - The backlog of booked orders for 2026 is approximately 300% higher than at the end of 2025, indicating strong demand for CLSQ's products [19] Market Data and Key Metrics Changes - The company expects full-year revenues to be in the range of $18 to $21 million, driven by demand for CLSQ's semiconductor products and the consolidated revenue of IC'ALPS [22] - A robust pipeline of revenue opportunities amounting to $170 million for the period 2026 to 2028 has been established [17] Company Strategy and Development Direction - WISeKey is executing a quantum convergence strategy that combines traditional identity security methods with emerging quantum-safe technologies [6][7] - The company is building a decentralized value model through strategic partnerships, such as the QuantumX security initiative in Spain, which has secured €25 million in committed revenue over three years [13] - The focus is on scaling execution and expanding the WISe.ART constellation to increase coverage and open new subscriptions [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong growth in the second half of 2025, with expectations of increased demand for quantum-resistant solutions due to regulatory pressures [22][36] - The company is positioning itself to shape the future of digital trust and security, emphasizing the importance of quantum resilience in critical infrastructures [17][36] Other Important Information - The Quantum Shield QS7001 chip, set to launch in November 2025, aims to secure critical applications against quantum computing threats [8][9] - The company is also developing a Trusted Platform Model version of the QVAULT TPM, which is expected to enhance security and efficiency [10] Q&A Session Summary Question: Contribution from Quantix and margins on project revenue - The project is expected to contribute $25 million over three years, with varying margins depending on the type of revenue recognized [24] - Product revenues are anticipated even before the personalization center is fully operational [25] Question: Breakdown of the $170 million pipeline - The pipeline includes contributions from the Quantum Shield QS7001 chip, Trusted Platform Model chips, and revenue from personalization centers [33][37] Question: Path to commercializing WISe.ART and expectations for 2026 - WISe.ART aims to create digital twins of secured objects, with SealCoin as the payment method for transactions between devices [40][42] - The company is working on bringing SealCoin to a top exchange, which will diversify revenue streams [42]

Financial Data and Key Metrics Changes - For the first half of 2025, revenues grew slightly by $0.1 million to $5.3 million, reflecting a continued transition period ahead of expected growth in the second half [19] - Operating losses increased by $13.2 million to $27.3 million, largely due to a one-off stock-based compensation charge and increased investments in R&D and administrative costs [20] - The net loss for the six months ended June 2025 was $22.3 million, an increase of $6.8 million compared to the same period last year [21] - A strong balance sheet with a cash balance of $124.6 million as of June 30, 2025, allows for accelerated technological development and strategic investments [21] Business Line Data and Key Metrics Changes - The company is focusing on next-generation quantum-resistant chips, the SealCoin transactional IoT platform, and the expansion of the WISe.ART constellation [21] - The backlog of booked orders for 2026 is approximately 300% higher than at the end of 2025, indicating strong demand and confidence in future growth [19] Market Data and Key Metrics Changes - The company expects full-year revenues to be in the range of $18 to $21 million, driven by a return to growth in demand for traditional semiconductor products and the consolidation of IC'ALPS revenue [22] - A robust pipeline of revenue opportunities amounting to $170 million for the period 2026 to 2028 has been established, indicating strong market potential [17] Company Strategy and Development Direction - The company is executing a quantum convergence strategy that combines traditional identity security methods with emerging quantum-safe technologies [6][7] - Strategic partnerships, such as the QuantumX security initiative in Spain, are being developed to enhance shareholder value and create new addressable markets [13] - The company is also focusing on building personalization centers in various countries to reduce dependency on semiconductor supply chains [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, emphasizing the importance of transitioning to quantum-resilient security solutions ahead of regulatory changes expected by 2027 [36] - The company is shaping the future of digital trust and cybersecurity, positioning itself to capitalize on the growing demand for quantum-safe technologies [17] Other Important Information - The Quantum Shield QS7001 chip, set to be launched in November 2025, aims to secure critical applications against quantum computing threats [8][9] - The company is pioneering the integration of post-quantum cryptography into its products, ensuring backward compatibility and avoiding disruption [6] Q&A Session Summary Question: Contribution from Quantix and revenue recognition - The project is expected to contribute $25 million over three years, with varying margins depending on the type of revenue recognized [24] - Product revenues are anticipated even before the center is fully operational [25] Question: Breakdown of the $170 million pipeline - The pipeline includes contributions from the Quantum Shield QS7001 chip, Trusted Platform Model (TPM) chips, and revenue from personalization centers [33][36] Question: Path to commercializing WISe.ART and SealCoin - The commercialization involves creating digital twins of secured objects and integrating SealCoin as a payment method for transactions between devices [40][42]

Financial Data and Key Metrics Changes - For the first half of 2025, revenues grew slightly by $0.1 million to $5.3 million, reflecting a continued transition period ahead of expected growth in the second half [21][22] - Operating losses increased by $13.2 million to $27.3 million, largely due to a one-off stock-based compensation charge and increased investments in R&D and infrastructure [23] - Net loss for the six months ended June 2025 was $22.3 million, an increase of $6.8 million compared to the same period last year [24] - Cash balance stood at $124.6 million as of June 30, 2025, allowing for accelerated technological development and strategic investments [24] Business Line Data and Key Metrics Changes - The company is focusing on next-generation quantum-resistant chips, the SealCoin transactional IoT platform, and the expansion of the WISe.ART constellation [24] - CLSQ, a major subsidiary, is expected to drive significant revenue growth with a 300% higher backlog of booked orders for 2026 compared to the end of 2025 [22] Market Data and Key Metrics Changes - The company has a robust pipeline of revenue opportunities amounting to $170 million for the period 2026 to 2028, indicating strong future growth potential [19] - The expected full-year revenues for 2025 are projected to be in the range of $18 to $21 million, driven by demand for CLSQ's semiconductor products and other business divisions [25] Company Strategy and Development Direction - The company is executing a quantum convergence strategy that integrates traditional identity security methods with emerging quantum-safe technologies [6][8] - Strategic partnerships, such as the QuantumX security initiative in Spain, are being developed to enhance shareholder value and create new addressable markets [15] - The company aims to build a neural sovereign trusted digital infrastructure, addressing the growing dependency on technology in a few countries [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong growth in the second half of 2025, with a focus on scaling execution and expanding the WISe.ART constellation [17][25] - The regulatory push for quantum resilience is expected to drive demand for the company's products, as companies prepare for upcoming legislation [39] Other Important Information - The company is pioneering the transition to post-quantum cryptography, with the launch of the QS7001 chip expected in November 2025 [9][10] - The company is also involved in a world-first space-based cryptocurrency transaction, showcasing the integration of satellite technology and blockchain [12] Q&A Session Summary Question: Contribution from Quantix and margin expectations - The project revenue from Quantix is expected to be $25 million over three years, with varying margins depending on the type of work involved [27] - Product revenues are anticipated even before the center is fully operational [28] Question: Personalization centers and their significance - The personalization center in Spain is part of a broader strategy to reduce dependency on semiconductor imports and enhance national capabilities [30] - Similar centers are being negotiated in other countries, including the U.S. and South Korea [33] Question: Breakdown of the $170 million pipeline - The pipeline includes contributions from the Quantum Shield QS7001 chip, Trusted Platform Model chips, and revenue from personalization centers [36][41] Question: Commercializing WISe.ART and SealCoin - The commercialization path for WISe.ART involves creating digital twins of secured objects, with SealCoin serving as a payment method for transactions between devices [43][45]

Group 1: Investment and Economic Impact - The Spanish Government announced a €19.6 million public investment in Quantix, projected to generate €793 million of economic impact in the Region of Murcia over the next five years [1][5]. - This investment aligns with the national strategy to strengthen sovereignty in critical sectors such as semiconductors and cybersecurity [5]. Group 2: SEALSQ Corp Developments - SEALSQ Corp entered a definitive agreement with Quantix Edge Security to develop Spain's first post-quantum semiconductor personalization center in the Region of Murcia, expected to generate $25 million in revenue over the next three years [3][4]. - The project is anticipated to start in the first half of 2026, with revenue recognition likely to be milestone-based throughout the project's duration [4]. Group 3: Product Launch and Technology - SEALSQ plans to launch the Quantum Shield "QS7001" in mid-November 2025, which will be the world's first secure chip to embed NIST-standardized quantum-resistant algorithms at the hardware level [7]. - The QS7001 will provide robust protection for critical applications, including cryptocurrency, defense systems, and IoT ecosystems [8][9]. - SEALSQ is also preparing to release the QVault TPM, a Trusted Platform Module, in the first half of 2026 [9]. Group 4: Commercialization Strategy - SEALSQ aims to accelerate commercialization by distributing its post-quantum semiconductors through Quantix Edge Security starting in 2026, even while the Murcia facility is under construction [6]. - This strategy supports a $170 million pipeline of potential revenue as part of SEALSQ's broader Quantum Roadmap [6].

Core Insights - SEALSQ Corp has announced a collaboration with AuthenTrend Technology to develop a proof-of-concept integrating SEALSQ's Quantum Shield "QS7001" chip into a fingerprint-enabled security key, aiming to create the world's first quantum-proof biometric authentication device [1][2] Group 1: Company Developments - The proof-of-concept will combine match-on-device fingerprint biometrics with SEALSQ's post-quantum cryptography, providing a phishing-resistant solution that aligns with zero-trust security models and anticipates regulatory mandates [2] - The Quantum Shield QS7001 is set for commercial launch in mid-November 2025 and features NIST-standardized quantum resistant algorithms embedded at the hardware level, designed for high-stakes applications [4][5] - SEALSQ has secured over 1.75 billion devices worldwide and continues to expand its post-quantum portfolio with initiatives like the QVault TPM planned for H1 2026 [7] Group 2: Industry Context - The collaboration addresses emerging threats from quantum computing, which could compromise traditional algorithms like ECDSA, RSA, and ECC within the next few years [2] - SEALSQ is positioned as a leader in post-quantum technology, focusing on developing robust solutions to safeguard sensitive data across various applications, including financial services and IoT ecosystems [9][10]