SEALSQ announces IoT devices with payment capabilities

GENEVA - SEALSQ Corp (NASDAQ:LAES), a developer of semiconductor, PKI, and post-quantum technology hardware and software, has unveiled its latest innovation in the Internet of Things (IoT) space: Internet of Payment (IoP) integrated semiconductor solutions. This advancement enables IoT devices to conduct secure and autonomous financial transactions, a move that sets SEALSQ at the cutting edge of digital commerce.

The integration of IoP technology into SEALSQ's semiconductors transforms connected devices into active economic agents that can autonomously manage payments and services. This positions these devices to not only communicate but also partake in financial transactions within the global economy. The company's CEO, Carlos Moreira, stated that this integration marks a significant leap forward for the IoT industry.

SEALSQ's next-generation semiconductors are designed with features that cater to the demands of IoP applications, including secure autonomous transactions, real-time processing, scalability across various industries, and energy-efficient payment modules.

Applications of SEALSQ's IoP-enabled semiconductors are broad, with potential uses in the automotive sector where cars could autonomously pay for fuel or tolls, in home automation for appliances that order and pay for supplies, and in industrial IoT where machinery could autonomously order parts and services.

The company also announced that it is preparing to release engineering samples of its QS7001 Quantum-Resistant secure chips before the end of the year, reflecting its commitment to innovation in the post-quantum chip market.

Industry forecasts suggest that by 2025, the interconnected network of IoT devices will reach 75 billion, and cashless payment volumes are expected to triple by 2030. SEALSQ's solutions aim to capitalize on this growth by enabling secure, real-time transactions between machines, which is anticipated to be a significant driver in the transition to a cashless economy.

SEALSQ specializes in integrated solutions for a variety of applications, including multi-factor authentication tokens and smart energy systems, and is focused on developing hardware and software products that can withstand the potential threats posed by quantum computing.

This news is based on a press release statement from SEALSQ Corp.

In other recent news, SEALSQ Corp has announced several significant developments. The company is slated to release Quantum (NASDAQ:QMCO) Resistant chips by the end of 2024, a move that is expected to contribute to the growth of the RISC-V products market. SEALSQ's RISC-V chips are designed to enhance decentralized semiconductor processing, improving power efficiency and reducing reliance on large-scale cooling systems.

In a demonstration video, SEALSQ highlighted the integration of the ESP32 microcontroller with its VaultIC292 Secure Element, providing advanced security for IoT devices within the Matter protocol ecosystem. The company's CEO, Carlos Moreira, stated that this integration delivers a robust security solution for IoT device manufacturers.

SEALSQ also revealed that its new quantum-resistant platform, QS7001, will be integrated into the next generation of WISeSat satellites. This development aims to bolster secure communications in the quantum era. The QS7001 platform uses post-quantum cryptographic algorithms, including Kyber and Dilithium, which are among the first to be standardized by the National Institute of Standards and Technology for post-quantum cryptography.

Moreover, SEALSQ launched new features for digital crypto wallets designed to withstand potential threats from quantum computing. This includes a converged eSIM solution and a collaboration with the Hedera blockchain to integrate Public Key Infrastructure signatures with biometric authentication.

Lastly, SEALSQ announced an initiative to simplify the acquisition of GSMA PKI Certificates for eUICC manufacturers and SM-DP+/SM-DS service providers, aiming to expedite the adoption of eSIM technology. Despite a slowdown in the first half of 2024, with a preliminary unaudited revenue of approximately $5 million, SEALSQ maintains a robust new business pipeline valued at $71 million.

InvestingPro Insights

SEALSQ Corp (NASDAQ:LAES) has made a bold stride into the Internet of Things (IoT) space with its Internet of Payment (IoP) integrated semiconductor solutions, which are poised to revolutionize the way IoT devices handle financial transactions. While this innovation positions SEALSQ at the forefront of digital commerce, it's important for investors to consider the company's financial health and market performance.

InvestingPro Data reveals that SEALSQ has a market capitalization of $10.08 million, indicating a relatively small player in the semiconductor and IoT industry. The company's revenue for the last twelve months as of Q4 2023 stood at $30.06 million, with a notable revenue growth of 29.57%. This growth is a positive sign, reflecting the company's ability to increase sales. The gross profit margin was at 48.14%, demonstrating the company's efficiency in controlling the cost of goods sold relative to revenue.

However, the company's P/E Ratio is currently negative at -3.98, and the adjusted P/E Ratio for the same period is also in the negative territory at -2.03, suggesting that the company is not currently profitable. This is further supported by an InvestingPro Tip indicating that analysts do not anticipate SEALSQ will be profitable this year.

Another InvestingPro Tip to consider is that the stock has experienced significant volatility, with a one-month price total return showing a decline of 17.16% and a six-month price total return plummeting by 73.43%. This high level of price volatility may concern some investors, especially those looking for more stable investment opportunities.

Despite the challenges reflected in these metrics, SEALSQ's advancements in IoP technology and its focus on quantum-resistant chip development suggest a commitment to innovation that could potentially yield long-term benefits as the IoT market continues to expand.

For those interested in a deeper dive into SEALSQ's financials and market performance, InvestingPro offers additional insights and tips. There are a total of 16 InvestingPro Tips available, which can provide further guidance for investors considering SEALSQ as part of their portfolio. Access these tips at: https://www.investing.com/pro/LAES

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