Artificial Intelligence
WISeKey Reports FY 2020 Audited Consolidated Financial Results
WISeKey Reports FY 2020 Audited Consolidated Financial Results
Schedules conference call for Friday, April 30 at 3:00 pm CET (9:00 am ET)
ZUG, Switzerland, April 30, 2021 – WISeKey International Holding Ltd. (“WISeKey” NASDAQ: WKEY; SIX Swiss Exchange: WIHN), a leading cybersecurity and IoT company, announced today its audited consolidated financial results for full year (FY) 2020 (period ended December 31, 2020).
Carlos Moreira, WISeKey’s Founder and CEO, noted, “2020 was a transformational year for WISeKey as we made significant investment in R&D to enhance our Artificial Intelligence capabilities, the real driving force behind IoT technology, expanded our product portfolio, and maintained the leading-edge technology position and competitive advantage of our offerings. We also built up our sales force in the U.S., Europe and Asia, to take advantage of higher demand for strong security, authentication, brand protection and anti-counterfeiting services for segments such as connected devices, connected cars, luxury products, pharmaceuticals and banking/financial sector. We ended the year with a strong cash position which supports our growth initiatives, both organically and through acquisitions, and at the same time gives us the flexibility to invest in strategic partnerships and joint ventures with global organizations.”
Mr. Moreira added, “We have started 2021 on a very strong note. The acquisition of a controlling interest in arago has provided us with a new, higher-margin revenue source for AI-based Knowledge Automation. We believe that due to our solid revenue pipeline for existing product offerings and new opportunities in the emerging Cybersecure Automation for the AIoT market, WISeKey is well positioned to improve margins and increase revenues, thus providing higher returns to its shareholders.”
WISeKey’s FY20 audited consolidated financial results are available at https://www.wisekey.com/company/investors/financial-reports/.
2020 KEY FINANCIAL AND OPERATIONAL HIGHLIGHTS:
- Acquired 51% controlling interest in arago GmbH (arago) on February 1, 2021 and reached an agreement to acquire the remaining 49%: arago’s leading technology that provides AI to enterprises, globally, through Knowledge Automation, its large recurring customer base and licensing model, will bring significant synergies to WISeKey and strengthen our position in the fast-growing AIoT market.
- Revenue of $14.8 million: although lower than FY 2019 revenue (due to the impact of COVID 19 pandemic, which disrupted supply chains worldwide, and the political and trading tensions between the U.S. and China), the new AIoT revenue stream and the rising demand for semiconductors since end of 2020, will fuel future revenue growth for WISeKey.
- Substantial reduction in General & Administrative expenses (G&A): the decrease of 32% to $10.7 million in FY 2020, from $15.8 million in FY 2019 was due to steps we took to manage our overhead costs and quickly adjust to the new environment. While for 2021 we expect total G&A expenses to increase to some extent, (as some of these costs, mainly traveling related costs will return to pre-COVID levels, and additional expenses related to the arago acquisition), we expect G&A expenses as percentage of revenue to decline in the coming years due to general cost reduction initiatives we have and will continue to implement.
- Strong cash position: cash and cash equivalents, together with restricted cash, increased to $21.8 million at December 31, 2020, from $16.6 million at December 31, 2019, reflecting, to some extent, our cost control measures.
2021 KEY GROWTH AREAS
- Trusted Non–Fungible Token (NFT) Platform: WISeKey plans to deploy its unique Digital Identification NFT platform technology in June 2021. This NFT platform will provide the most secure and scalable blockchain backend for creating real digital twins for valuable objects. This unique approach will make it possible to mint a provenance and a digital version of the object, into an NFT, that contains smart contracts on how the digital twin may be used, thereby removing any uncertainty about what an NFT actually means to a collector, by delivering authenticated, digital twins, to the art and luxury market. Pilot projects have already been executed in the luxury watch market, with a world premiere Hublot NFT watch.
- Trusted Automation: The WISeKey arago Integrated Automation Platform licensing revenue model is expected to bring significant revenue synergies and strengthen WISeKey’s position in the fast-growing Artificial Intelligence of Things (“AIoT”) market. Knowledge The Automation and Data platform HIRO™, developed by arago, takes a unique approach to process automation by using AI to autonomously and independently, determine how to complete and then automate, end-to-end tasks, based on real time, contextual, data. Fully auditable and only using steps defined and approved by the customer, Knowledge Automation delivers significantly higher automation rates, at a much lower operational cost.
FY 2020 RESULTS CONFERENCE CALL
Carlos Moreira, CEO and Peter Ward, CFO will host a conference call on Friday, April 30, 2021, at 3:00 p.m. CET / 9:00 a.m. ET to discuss these results, recent business developments and growth initiatives. A Q&A session will follow the prepared remarks.
Interested parties may participate in the call by dialing:
| United States (Toll) | 877-445-9755 |
| United States (Toll Free) | 201-493-6744 |
| Spain (fixed) ATT: | 900 834 236 |
| Spain (mobile) ATT: | 900 834 876 |
| United Kingdom (fixed) ATT: | 0 800 756 3429 |
| France (fixed) ATT /excl. Monaco: | 0 800 912 848 |
| Switzerland (fixed) ATT: | 0 800 835 525 |
| Switzerland (mobile) ATT: | 0 800 891 374 |
| Italy (fixed) ATT: | 800 791 612 |
| Italy (mobile) ATT: | 800 796 508 |
| Netherlands (fixed) ATT: | 0 800 023 4340 |
| Netherlands (mobile) ATT: | 0 800 022 3580 |
| Germany (fixed) ATT: | 0 800 182 0040 |
| Germany (mobile) ATT: | 0 800 184 4713 |
To access the call, please dial-in approximately five minutes before the start time. The call will also be simultaneously audio & slides webcast over the Internet via this link and such link will also be made available in the “Investor Relations” section of WISeKey’s website http://wisekey.com/investors/.
An archived version of the webinar will be available on WISeKey’s website following the live presentation. For any questions regarding the event, please email [email protected].
ADDITIONAL FINANCIAL & OPERATIONAL DATA
FY 2019 Key Financials – WISeKey Group
| (Million US$) | ||
| US GAAP | 2020 | 2019 |
| Net sales | 14.8 | 22.7 |
| Gross profit | 5.5 | 9.5 |
| Operating loss as reported | (18.5) | (20.5) |
| Net income attributable to WISeKey as reported | (28.7) | 8.2 |
| Non-GAAP | 2019 | 2019 |
| EBITDA from continuing operations | (16.9) | (19.2) |
| Total Cash and restricted cash | 21.8 | 16.6 |
Non-GAAP Financial Measures
In managing WISeKey’s business on a consolidated basis, WISeKey management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. In measuring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing our gross margin and operating margin and when assessing appropriate levels of research and development efforts. In addition, management relies upon these non-GAAP financial measures when making decisions about product spending, administrative budgets, and other operating expenses. We believe that these non-GAAP financial measures, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of the Company’s results of operations and the factors and trends affecting WISeKey’s business. We believe that they enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to operations, certain non-cash expenses related to acquisitions and share-based compensation expense, which may obscure trends in WISeKey’s underlying performance. This information also enables investors to compare financial results between periods where certain items may vary independent of business performance and allow for greater transparency with respect to key metrics used by management.
These non-GAAP financial measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. The presentation of these and other similar items in WISeKey’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent, or unusual. Reconciliations of these non-GAAP measures to the most comparable measures calculated in accordance with GAAP are provided in the financial statements portion of this release in a schedule entitled “Financial Reconciliation of GAAP to non-GAAP Results (unaudited).”
Non-GAAP to GAAP Reconciliations
| Financial Reconciliation of GAAP to non-GAAP Results (unaudited) | 12 months to December 31, | ||
| (Million US$) | 2020 | 2019 | |
| Operating loss as reported | (18.5) | (20.5) | |
| Non-GAAP adjustments from continuing operations: | |||
| Depreciation expense from continuing operations | 1.08 | 0.8 | |
| Amortization expense on intangibles from continuing operations | 0.6 | 0.5 | |
| EBITDA from continuing operations | (16.9) | (19.2) | |
| GAAP to Non-GAAP Cash and Cash Equivalents | As of December 31, | |
| (Million US$) | 2020 | 2019 |
| Cash and cash equivalents as reported | 19.7 | 12.1 |
| Restricted cash, current as reported | 2.1 | 2.5 |
| Restricted cash, noncurrent as reported | – | 2.0 |
| Total Cash and restricted cash | 21.8 | 16.6 |
About WISeKey
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) 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 [email protected] |
WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 [email protected] |
Disclaimer:
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.
Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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View original content:https://www.prnewswire.co.uk/news-releases/global-insurance-provider-selects-3clogic-to-streamline-ai-and-contact-center-capabilities-with-servicenow-302127739.html
Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.”
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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View original content:https://www.prnewswire.co.uk/news-releases/screenpoint-medical-leadership-transition-pieter-kroese-confirmed-as-ceo-302127719.html
WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).
Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/robotics-market
Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
View original content:https://www.prnewswire.co.uk/news-releases/robotics-market-to-surpass-usd-126-96-billion-by-2031–skyquest-technology-302127230.html
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