- SEALSQ (LAES, Financial) reports H1 2025 revenue of $4.8 million and projects FY 2025 revenue growth of 45-82%, between $16.0 million and $20.0 million.
- The company's cash reserves have increased to $120 million as of June 2025, up from $19 million year-over-year.
- A $145 million business pipeline is planned for 2026-2028, with 50-100% expected revenue growth in 2026.
SEALSQ Corp (LAES) has reported its preliminary revenue for the first half of 2025 at $4.8 million, consistent with the same period in 2024. The company has set its full-year 2025 revenue guidance at $16.0 million to $20.0 million, projecting a significant year-over-year growth of 45-82%.
SEALSQ has successfully bolstered its cash reserves to $120 million as of June 30, 2025, a significant increase from $19 million a year ago. This financial strengthening provides substantial liquidity to fuel innovation in Post-Quantum Cryptography (PQC) and global expansion.
Key strategic developments include the pending acquisition of IC'ALPS for EUR 12.5 million, which is expected to be approved by August 15, 2025. This acquisition will enhance SEALSQ's capabilities in custom chip and IP development, reinforcing its leadership in building a PQC-focused hardware ecosystem.
Additionally, SEALSQ's involvement in the EUR 40 million Quantix Edge project with the Spanish government showcases their commitment to advancing security solutions. The company's transition to post-quantum semiconductors is highlighted by the anticipated commercialization of QVault TPM in Q4 2025 and progress with the QS7001 post-quantum microcontroller.
Looking ahead, SEALSQ anticipates releasing the QVault TPM for customer sampling in Q4 2025, with initial revenue expected in 2026. The company's strategic positioning and robust pipeline, valued at $145 million for 2026-2028, reflect a burgeoning demand for quantum-resistant solutions. SEALSQ expects revenue growth between 50-100% in 2026, driven by new product launches and strategic acquisitions.
