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SEALSQ Reports H1 2023 Unaudited Revenue of $14.8 Million, a 38% Year-Over-Year Increase

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10 months ago

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Tortola, British Virgin Islands, July 06, 2023 (GLOBE NEWSWIRE) — During 2023, SEALSQ Launched its First Demonstrator of Quantum Resistant Technology, a New Generation of Quantum Resistant Algorithms Running on One of its Common Criteria EAL5+ Tamper Resistant Secure Arm Platforms

Tortola, British Virgin Islands – July 6, 2023: SEALSQ Corp (Nasdaq: LAES) (“SEALSQ” or “Company”), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced its unaudited revenue for the first half (H1) 2023 period ending June 30, 2023.

H1 2023 Operational Highlights:

For H1 2023 SEALSQ reported unaudited revenue of $14.8 million, an increase of 38% as compared to the same period of last year. The year-over-year increase was driven by several factors, including:

  • Efforts to increase production capacity and improve the efficiency of the supply chain to benefit from higher demand on existing lines with historical customers, mainly in the IT network infrastructure segment.
  • Capture of several new significant business opportunities due to the success of its advanced MS600X secure platform, with applications in remote logical access control.
  • The growing Trust Services business pipeline around Semiconductor provisioning and managed PKI, which is now starting to materialize into recurring revenues.
  • Larger and stronger footprint in the United States following the expansion of sales team and the signing of four sales distribution agreements aiming to gain market share.
  • Investments in a new generation of Post-Quantum semiconductors (Quasar) to provide Provisioning and Managed-PKI services within a unique vertically integrated value proposition including the Matter PAA. Of note, SEALSQ was recently approved by the Connectivity Standards Alliance (CSA) for Matter device attestation and became part of the very few providers of Matter PAA.

Carlos Moreira, CEO of SEALSQ noted, “The impressive year-over-year revenue growth is a continuation of the trend SEALSQ exhibited in 2022 financial year, during which we reported solid revenue of $23.2 million with a growth rate of more than 36% compared to FY 2021, and EBITDA of $3.0 million. We believe that SEALSQ’s revenue growth has reached a tipping point where previous year investments are starting to pay off. One of the key external drivers of this success story has been the strong global momentum we have seen in almost all IoT segments, now massively demanding the type of secure semiconductors SEALSQ is specialized in providing. SEALSQ continues to take advantage of its solid supply chain and vertical value proposition to gain market share in this context. We have a strong business pipeline in new segments and are well positioned to deliver growth and profitability this year and beyond.”

Moving forward, SEALSQ is well positioned to capture additional opportunities arising from higher demand for semiconductors due to significant investments the Company made in developing state-of-the-art technologies. Specifically….

  • Recently, SEALSQ’s engineering team produced a demonstrator able to run both Kyber and Dilithium CRYSTAL quantum-resistant NIST selected algorithms and the appropriate APIs on the MS6003, a Common Criteria EAL5+ Certified secure hardware platform, and created the first Quantum-Resistant USB Token demonstrator. This demonstrator marks a significant milestone for the QUASARS (QUAtum resistant Secure ARchitectureS) project and takes the Company one step closer to achieving its goal of being among the first players to build a Post-Quantum Hardware Security Module and Root-of-Trust.
  • SEALSQ offers a unique combination of provisioning services with the GSMA Root-of-Trust CI, by issuing GSMA PKI Certificates to GSMA eSIM compliant version 3 Consumer products. The growing adoption of eSIM standards and the remote SIM provisioning will greatly improve interoperability between devices and security-by-design in the cellular industry, creating a more efficient and safer experience for consumers. This is in full alignment with SEALSQ’s mission to contribute into building a safer connected world.

As is the case with SEALSQ, semiconductors are at the heart of technological advancements such as artificial intelligence (AI), Post-Quantum, Internet of Things (IoT), cloud computing, and 5G. These emerging technologies require advanced semiconductor chips to power their functionality. As the adoption of these technologies accelerates, the demand for semiconductors and the companies that produce them naturally increases. With the proliferation of data-intensive applications and the expansion of cloud computing services, there is a growing need for data centers to process and store large volumes of data. Data centers rely heavily on semiconductors for servers, storage systems, and networking equipment. The rising demand for data centers has consequently fueled the demand for semiconductors.

Many governments worldwide, including the EU and US with their e-Chip Act, recognize the strategic importance of the semiconductor industry and are actively supporting its growth. Governments are investing in research and development, providing incentives to semiconductor companies, and promoting domestic semiconductor manufacturing. These initiatives have created a favorable environment for semiconductor companies, attracting investors’ interest.

About SEALSQ:
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.

Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks.

For more information please visit www.sealsq.com.

Forward-Looking Statements

This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the expected benefits and costs of the intended spin-off transaction, the expected timing of the completion of the spin-off transaction and the transaction terms, SEALSQ’s ability to implement its growth strategies, SEALSQ’s ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ’s filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.

SEALSQ Corp 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.

SEALSQ Corp.
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
[email protected]		 SEALSQ Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
[email protected]

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Netcompany secures high-profile digital transformation contract with HM Revenue & Customs (HMRC)

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9 mins ago

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May 13, 2024

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Netcompany wins one of four new build contracts for HMRC. The European IT services company will focus on modernising core digital customer services for HMRC’s Customer Services Group. The contract term is three years with options for two, one-year extensions. The estimated contract spend is £120–£135m over the course of the 5-year term. 
LONDON, May 13, 2024 /PRNewswire/ — Netcompany has won a significant new build contract for His Majesty’s Revenue and Customs (HMRC). It will provide digital transformation services to HMRC’s Customer Services Group (CSG), including the Customer Compliance Group (CCG). Netcompany was selected following a competitive procurement process. 

“We are proud and honoured to be selected to bring our expertise and knowledge to bear in helping enable HMRC’s digitalisation journey,” says André Rogaczewski, CEO, Netcompany. “Improving citizen experience through responsible digitalisation of public services is a core part of our DNA. Through this partnership, Netcompany looks forward to working with HMRC to help realise their digital transformation aspirations, resulting in both better customer services and value to the taxpayer.” 
The contract Netcompany has been awarded to deliver aims to simplify access and management of citizens’ tax affairs, through one personalised digital account. The contract was won through the first phase of competitions run under Crown Commercial Service’s (CCS) Digital and Legacy Application Services (DALAS) framework, Lot 2a – Large Scale Digital, Integration and Development Services.
About Netcompany
Founded in Denmark in 2000, Netcompany is a fast-growing, multinational company, working across 10 countries, with a team of more than 7,700 skilled professionals, who drive sustainable digitisation, consistently improving outcomes for our customers and citizens. Netcompany provides mission-critical IT solutions for societal and business needs, aiding our clients in their digital evolution towards a more efficient and sustainable future. Netcompany UK has extensive experience of working across the public sector, including NHS England, Ministry of Defence, Home Office, HMRC, Department for Education, Department for Environment, Food & Rural Affairs, as well as extensive private sector experience.
About Crown Commercial Service
Crown Commercial Service (CCS) is an Executive Agency of the Cabinet Office, supporting the public sector to achieve maximum commercial value when procuring common goods and services.
To find out more about CCS, visit: www.crowncommercial.gov.ukFollow us on Twitter: @gov_procurementLinkedIn: www.linkedin.com/company/2827044 
Logo: https://mma.prnewswire.com/media/2410706/Netcompany_Logo.jpg

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Bulletin from the extraordinary general meeting in SciBase Holding AB (publ)

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9 mins ago

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May 13, 2024

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STOCKHOLM, May 13, 2024 /PRNewswire/ — Today, an extraordinary general meeting has been held in SciBase Holding AB (publ) (“SciBase” or the “Company”). The general meeting resolved in accordance with the proposals presented in the notice to attend the meeting (which is available on the Company’s website (www.scibase.com)).

Amendment of the articles of association
The general meeting resolved, in accordance with the board of directors’ three proposals, to amend §§ 4-5 of the articles of association, entailing:
that the articles of association shall be amended so that the share capital shall be not less than SEK 10,065,000 and not more than SEK 40,260,000 and that the number of shares shall be not less than 201,300,000 and not more than 805,200,000,that the articles of association shall be amended so that the share capital shall be not less than SEK 10,780,000 and not more than SEK 43,120,000 and that the number of shares shall be not less than 215,600,000 and not more than 862,400,000, andthat the articles of association shall be amended so that the share capital shall be not less than SEK 11,500,000 and not more than SEK 46,000,000 and that the number of shares shall be not less than 230,000,000 and not more than 920,000,000.The general meeting further resolved, in a accordance with the board of directors’ proposal,  to authorize the board of directors to register with the Swedish Companies Registration Office the above resolution to amend the Articles of Association, the limits of which for the minimum and maximum number of shares in the Company are consistent with the total number of shares in the Company after the rights issue announced on 5 April 2024 and the directed issues of units that the board of directors resolved upon on 5 April 2024 (that were conditional upon the subsequent approval of the general meeting).
Directed issues
The general meeting resolved, in accordance with the board of directors’ proposal, to approve the resolution made by the board of directors on 5 April 2024, on a new issue of a maximum of 74,136,510 units to Ribbskottet AB, Per Olof Ejendal AB, Kåre Gilstring, Robert Molander, MLJK Konsult AB, Klintemar Konsult AB, Jesper Hoiland, Fredrik Mattsson, Stefan Hansson, Theodor Invest AB, Ulti AB, Van Herk Investments B.V., Morningside Group AB, Viktor Drvota and Eric Terhaerdt. The subscription price for each unit is SEK 0.42, corresponding to a subscription price of SEK 0.42 per share. Warrants of series TO 2 are issued free of charge. The issue results in an increase in the number of shares in the Company of a maximum of 74,136,510 shares, entailing a maximum increase of the share capital of SEK 3,706,825.50, and a new issue of a maximum of 370,682,550 warrants of series TO 2 entitling to subscription of 370,682,550 shares in the Company, whereby the share capital may increase by an additional maximum of SEK 18,534,127.50 if all issued warrants of series TO 2 are exercised. In total, the share capital may increase by a maximum of SEK 22,240,953.00.
The general meeting further resolved in accordance with the board of directors’ proposal to approve the resolution made by the board of directors on 5 April 2024, on a new issue of a maximum of 3,755,259 units to Matt Leavitt. The subscription price for each unit is SEK 0.42, corresponding to a subscription price of SEK 0.42 per share. Warrants of series TO 2 are issued free of charge. The issue results in an increase in the number of shares in the Company of a maximum of 3 755 259 shares, entailing a maximum increase of the share capital of SEK 187,762.95, and a new issue of a maximum of 18,776,295 warrants of series TO 2 entitling to subscription of 18,776,295 shares in the Company, whereby the share capital may increase by an additional maximum of SEK 938,814.75 if all issued warrants of series TO 2 are exercised. In total, the share capital may increase by a maximum of SEK 1,126,577.70.
For additional information, please contact:Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected] Advisor (CA):Vator SecuritiesTel: +46 8 580 065 99Email: [email protected]
About SciBase:
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The Company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/scibase/r/bulletin-from-the-extraordinary-general-meeting-in-scibase-holding-ab–publ-,c3977529
The following files are available for download:
https://mb.cision.com/Main/12371/3977529/2790414.pdf
SciBase Bulletin EGM
 

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Experience Abu Dhabi Weixin Mini-Program: Your Gateway to Unforgettable Moments in Abu Dhabi

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9 mins ago

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May 13, 2024

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ABU DHABI, UAE, May 13, 2024 /PRNewswire/ — Prepare for a memorable journey with the new Experience Abu Dhabi Weixin mini-program, brought to you by Experience Abu Dhabi, in partnership with Tencent Cloud.

Weixin is commonly known as ‘WeChat’ outside of China serves over a billion of monthly active users in the Chinese mainland. Tailored for Chinese visitors, the Weixin mini-program is packed with compelling features that range from interactive maps to itinerary planners – everything they would need to plan their Abu Dhabi experience at their fingertips.
The program not only provides Chinese visitors with first-hand official travel information but also specifically addresses their digital travel needs, offering map guidance and Chinese audio commentary services during the travel process.
The program also introduces ‘Khalifa’, a welcoming Emirati character who serves as Abu Dhabi’s first digital ambassador for culture and tourism. Khalifa isn’t just a tour guide, he’s your virtual companion, ready to engage in conversation and answer all visitor questions about Abu Dhabi!
Whether you’re looking for thrilling attractions, world-class restaurants or inspiring activities, Khalifa will provide personalised recommendations and insider tips to enhance your experience.
About Tencent Cloud
Tencent Cloud, one of the world’s leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation.
About the Department of Culture and Tourism – Abu Dhabi:
The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi’s wider global ambitions.
By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture and tourism industries.
DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.
For more information about the Department of Culture and Tourism – Abu Dhabi and the destination, please visit: dct.gov.ae and visitabudhabi.ae 

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