- WISeKey (NASDAQ:WKEY) said on Tuesday it expects H1 2022 revenue of $13M, an increase of over 25% from H1 2021, driven by increased demand on semiconductors / IoT.
- H1 2022 semiconductor revenue increased 48% to $10.7M from $7.2M in H1 2021.
- In wake of refocus on the IoT/semiconductors/cybersecurity business, for FY 2022 it expects this segment to generate revenue within the range of $21M to $23M due to higher demand and new contracts; current purchase orders total $38.5M and pipeline of opportunities total $75M.
- The Switzerland-based firm said that its strong financial position of $23M cash at the end of H1 2022 to support investments in new products, IP, and faster growing IoT/cybersecurity markets.
- Last month, WISeKey expects revenue growth in semiconductors IoT segment.
- Shares are down 6.1% after-hours.
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