SEALSQ Reports H1 2026 Financial and Operational Results; Revenue Increases 131% to $11.2 Million; FY2026 Guidance Reaffirmed
Geneva, Switzerland, Sept. 11, 2026 (GLOBE NEWSWIRE) --
Cash and Cash Equivalents of $486.1 Million at June 30, 2026, Support Continued R&D, Product Certification and Acquisition Integration
Conference Call to be Held on September 15 at 9:00am ET
SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or the "Company"), a company focused on developing and commercializing post-quantum semiconductor, PKI and trusted provisioning solutions, today announced its financial and operational results for the six-month period ended June 30, 2026.
H1 2026 Financial Highlights
Revenue Growth and Business Drivers
H1 2026 revenue growth was driven primarily by renewed demand for SEALSQ's Vault-IC secure-element product family, continued growth in PKI subscriptions and digital identity services, initial revenue from the Quantix Edge Security semiconductor design center in Murcia, Spain, and six months of consolidated revenue from IC'Alps SAS (“IC’Alps”).
IC'Alps, acquired in August 2025, contributed approximately $2.5 million of revenue during H1 2026 and expanded SEALSQ's capabilities in custom ASIC design, secure semiconductor architecture and specialized engineering services.
North America generated $5.6 million, representing 50% of H1 2026 revenue. Europe, the Middle East and Africa generated $3.7 million, or 33%, while Asia Pacific generated $1.9 million, or 17%. The addition of ASIC design revenue and an improved product mix contributed to the increase in gross profit and the expansion of gross margin.
Investment in Growth and Explanation of Net Loss
SEALSQ recorded an operating loss of $32.2 million compared to operating loss of $21.2 million in H1 2025, and a net loss of $27.8 million during H1 2026 compared to net loss of $20.0 million in H1 2025. The increase primarily reflects planned investments supporting the post-quantum product roadmap, integration of acquired companies and expansion of the SEALQUANTUM Sovereign Vertical Stack.
Carlos Moreira, Founder, Chairman and CEO of SEALSQ noted, "The first half of 2026 was marked by a decisive transition for SEALSQ. Revenue increased by 131%, gross profit more than tripled, our gross margin expanded significantly as we integrated IC'Alps and benefited from stronger demand for our secure-element and PKI solutions. Our $27.8 million net loss reflects substantial investments in R&D, certification, acquisition integration, corporate infrastructure and our Root-to-Qubit strategy. Our priority for the remainder of the year is turning that investment into disciplined execution, production commitments and recurring revenue. With $486.1 million in cash, cash equivalents and restricted cash at June 30, 2026, we have the balance sheet to fund that transition on our own terms."
John O'Hara, CFO of SEALSQ added, "H1 2026 results confirm strong top-line momentum, with revenue increasing from $4.8 million to $11.2 million and gross profit increasing from $1.6 million to $5.4 million. Higher interest and other non-operating income partially offset increased operating costs, resulting in a net loss of $27.8 million. Our liquidity position remains strong, and we intend to manage this capital carefully while prioritizing projects that support commercialization, strategic control and long-term value creation."
Condensed Unaudited Financial Results
EBITDA is defined as Operating income/(loss) for the reporting period before depreciation and amortization for the same reporting period.
Non-GAAP EBITDA Reconciliation
EBITDA is a non-GAAP financial measure provided for supplemental analysis. It should not be considered a substitute for operating loss, net loss or any other measure prepared in accordance with US GAAP.
Post-Quantum Product and Certification Progress
SEALSQ continued to advance commercialization of its post-quantum semiconductor portfolio during the first half of 2026.
Initial commercial revenue from QS7001 and QVault TPM is expected toward the end of H2 2026, with a more significant contribution anticipated as customers complete technical integration and move into production in 2027 and beyond. Timing remains subject to laboratory review, certification, customer qualification and procurement.
Major Strategic Developments During the First Half of 2026
Commercial Pipeline
At September 9, 2026, SEALSQ's active business pipeline represented more than $225 million in potential revenue opportunities through 2029, including more than $100 million associated with our Post-Quantum projects, including the QS7001 and QVault TPM. These figures reflect management estimates and are subject to risks such as conversion risks, customer validation, and technical integration.
FY2026 Outlook
SEALSQ's outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under "Forward Looking Statements" below.
SEALSQ reaffirmed FY2026 revenue guidance of $27 million to $36 million, representing expected growth of 50% to 100% compared with audited FY2025 revenue of $18.3 million. The anticipated full year growth is driven by the following factors:
Conference Call
SEALSQ will host a conference call to discuss these results on Tuesday, September 15, at 9:00 am ET (3:00 pm CET). If you wish to join the conference call, please use the dial-in information below:
A simultaneous webcast of the call may be accessed online via the Investors section of SEALSQ’s website, https://www.sealsq.com/investors/events or click here.
The archived call will also be available on the Investors section of SEALSQ's website, https://www.sealsq.com/investors/events.
ADDITIONAL UNAUDITED US GAAP FINANCIAL & OPERATIONAL DATA
Condensed Consolidated Statements of Comprehensive Income / (Loss) [as reported]
Condensed Consolidated Balance Sheets [as reported]
About SEALSQ:
SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable.
SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries.
For more information on our Post-Quantum Semiconductors and security solutions, please visit www.sealsq.com.
Forward-Looking Statements
This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. These statements may be identified by words such as “may”, “could”, “expects”, “hopes”, “intends”, “anticipates”, “plans”, “believes”, “scheduled”, “estimates”, “demonstrates” or words of similar meaning. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, including statements regarding revenue guidance, business pipeline opportunities, expected commercialization timing for the QS7001 and QVault TPM products, anticipated customer integration and production timelines, the SEALQUANTUM Sovereign Vertical Stack capital allocation targets, the expected benefits of acquisitions and strategic investments, growth drivers for FY2026, and the ability to realize returns from SEALSQ’s investments, 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 SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; the adoption of post-quantum semiconductors and the development of quantum computers; the timing and success of product certifications, including laboratory review and NIST certification processes; customer qualification and procurement timelines; pipeline conversion risks and customer validation; the ability to successfully integrate acquired businesses, including IC’Alps, Miraex and Wecan Group; 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.
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