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GENEVA - SEALSQ Corp (NASDAQ: LAES), a semiconductor and cybersecurity technology firm with a market capitalization of $306 million, announced a collaboration with WISeSat to deploy satellites equipped with advanced post-quantum-ready security chips, designed to enhance global IoT connectivity and cyber resilience. The company’s stock has shown remarkable momentum, gaining over 438% in the past six months. The first of these launches, contracted with SpaceX, is scheduled for June 2025, with additional deployments planned for October and December of the same year. InvestingPro data reveals the company maintains strong liquidity, with a current ratio of 3.58x.
These launches aim to establish a secure satellite network to protect against evolving cyber threats and support diverse industries, including agriculture, critical infrastructure, aerospace, defense, healthcare, and automotive. The technology promises secure real-time monitoring and communication, leveraging SEALSQ’s post-quantum chips and WISeKey’s trusted Root of Trust. With the company’s next earnings report due on March 20, investors should note that InvestingPro analysis indicates challenging near-term prospects, with analysts anticipating a sales decline in the current year.
The satellites will feature incremental advancements in line with SEALSQ’s quantum roadmap, incorporating contributions from its partner and startup investment program to boost security and operational efficiency. The WISeSat constellation is poised to offer secure, real-time IoT connectivity across various sectors, facilitating tasks such as precision agriculture, disaster warning, IIoT monitoring, supply chain security, and encrypted communications for the automotive industry.
SEALSQ’s parent company, WISeKey International Holding Ltd (SIX: WIHN, NASDAQ: WKEY), provides the WISeSAT platform, offering secure IoT connectivity-as-a-service, which includes satellite platforms, launches, integration, ground services, and a robust security architecture. This service simplifies space-based IoT connectivity, making it more accessible and cost-effective.
The satellites will incorporate VaultIC 4XX secure elements, with certifications such as FIPS 140-2 Level 3 and Common Criteria EAL 5+, and will be provisioned with trusted identities through WISeKey’s VaultITrust services. This vertical security solution is unique to WISeKey, strengthening its position in IoT security and space technology innovation.
As quantum computing advances, traditional cryptographic methods become more vulnerable. SEALSQ’s post-quantum semiconductor solutions are designed to provide future-proof protection, ensuring that organizations can defend against quantum threats. The company’s products are engineered to secure critical systems across various industries. While operating with moderate debt levels, SEALSQ’s financial metrics show a gross profit margin of approximately 38%, though the company faces profitability challenges with negative EBITDA of -$12.2 million in the last twelve months. For deeper insights into SEALSQ’s financial health and growth prospects, including 12 additional ProTips, visit InvestingPro.
This announcement is based on a press release statement and includes forward-looking statements that involve risks and uncertainties. Actual results may differ from those projected. SEALSQ Corp does not commit to updating any forward-looking statements as new information becomes available.
In other recent news, SEALSQ Corp has announced its exclusive negotiations to acquire IC ALPS SAS, a French ASIC design firm. This acquisition, pending due diligence and regulatory approvals, aims to enhance SEALSQ’s capabilities in the ASIC development sector, adding approximately 100 skilled employees to its workforce. The potential merger is expected to accelerate development timelines and scalability, positioning SEALSQ as a key player in the security IC industry globally. Additionally, SEALSQ has deployed its Post-Quantum Cryptography (PQC) technology across data centers in Switzerland and France, in collaboration with its parent company WISeKey International Holding Ltd. This deployment aims to safeguard digital assets against quantum threats, complying with the NIS2 Directive’s demands for data confidentiality and integrity. SEALSQ is also advancing secure drone technology with new microcontrollers, partnering with AgEagle to provide secure elements for drones used by public agencies and the military. These developments underscore SEALSQ’s commitment to enhancing cybersecurity and expanding its influence in the post-quantum security solutions market.
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