WISeKey Increases Full-Year 2017 Pro-Forma Revenue Guidance to $56 Million, Approximately 383% higher than Full-Year 2016
Reports Consolidated Revenue of $41.7 Million for the 10-Month Period ended October 31, 2017, due to Strong Demand for Cybersecurity SaaS and Semiconductors IoT Products
Zug, Switzerland - November 3, 2017 - WISeKey International Holding Ltd ("WISeKey") (SIX: WIHN), a Cybersecurity and IoT company, today announced that it has increased its full-year 2017 pro-forma revenue guidance to $56.0 million*. This guidance compares to revenue of $11.6 million reported for the year ended December 31, 2016, representing an increase of approximately 383%.
Consolidated, unaudited, preliminary revenue for the 10-month period ended October 31, 2017 increased to approximately $41.7 million, primarily due to strong demand for the company's Semiconductors IoT products, which generated revenues of $29.0 million, and Cybersecurity SaaS products, which generated revenues of $12.7 million, and a larger client base resulting from the synergies being generated between these two business segments, which are now fully integrated into WISeKey's Vertical Platform.
"During 2017, WISeKey evolved into a major player in the IoT, Cybersecurity, AI and Blockchain markets. We will continue to leverage our core competencies and expand them into a much larger cyber security market that is growing fast. We believe that we are well positioned to take advantage of many significant business opportunities in the Cybersecurity SaaS and Semiconductors IoT market," said Carlos Moreira, CEO of WISeKey.
The vertical integration of WISeKey's unique Root of Trust and Identity technology with VaultIC's hardware & software, system certification, provisioning and up to management services, created the first ever comprehensive trusted end-to-end cybersecurity platform for people and objects (IoT) and gave WISeKey the unique ability to deliver the most secure platform to its customers. WISeKey is now generating strong sales in new areas such as chip-based IoT, anti-counterfeiting, brand protection, EMV payment card, and secure access to building IT equipment. WISeKey has seen a strong demand across this combined product portfolio as the market for IoT chips associated with PKI and Cybersecurity is increasing globally.
The current results reflect the increased trust customers are placing in the WISeKey Cybersecurity SaaS and Semiconductor IoT segments. Currently, over 3500 organizations ranging from large multi-nationals, to small- and medium-size businesses, to non-profits all over the world are using the WISeKey Platform to secure their digital assets. The integration of chips, smart metering and identification token technology provided us with substantial synergistic cross-selling opportunities for several clients, including world leaders in IT infrastructure.
Of note, the IoT revenue generated by WISeKey is premium revenue, unlike many of our competitors which have invested in similar projects but have yet to derive any significant revenue from their solutions. While business models are changing from transactional to collaborative, and transactions are evolving from simple one-off payments to complex variants of usage-based billing, WISeKey's offerings and solutions are designed to address the continuously changing business environment and the need for highly secured solutions for government entities, corporations, and individuals. This business strategy allows us to generate revenue from IoT devices, cybersecurity services, data and, more importantly, our Trusted Ecosystem and Vertical Platform.
While the IoT security landscape is still evolving and the IoT adoption is expected to revolutionize how enterprises do business, early movers such as WISeKey stand to gain substantial market share, since Root of Trust ("RoT") is required for secure communication over IoT. WISeKey's unique RoT serves as a common trust anchor, which is recognized by operating systems (OS) and backed by multiple independent accreditations and IoT applications to ensure the authenticity, confidentiality and integrity of on-line transactions.
Multinational corporations that need to comply with International Standards on the deployment of their IoT infrastructural are ideal candidates for the WISeKey Trust Model. Amidst the threat of increasingly sophisticated data and online identity thefts, WISeKey's robust solutions ensure data protection for individuals, enterprises, IoT objects and government organizations.
Mr. Moreira, concluded, "WISeKey has been increasing its focus on the IoT segment, and we are currently offering various solutions (both hardware and software) supporting customers using IoT-based systems. At the same time, we are working on a future wave of WISeKey Cybersecurity IoT Technologies, extended with blockchain, Artificial Intelligence and Crypto Currencies Platforms."
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying via a Virtual Platform large scale digital identity ecosystems. WISeKey's Swiss based cryptographic RoT ("RoT") and IoT Microchips provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
Press and investor contacts:
| WISeKey International Holding Ltd |
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
| WISeKey Investor Relations (US) |
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.
Source:Wisekey International Holding SA