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GENEVA - SEALSQ Corp (NASDAQ: LAES), a company specializing in advanced semiconductor and post-quantum technology products with a market capitalization of $130 million, is set to present its latest secure hardware platform, QS7001, at the upcoming NY Quantum (NASDAQ:QMCO) Day on February 11, 2025. According to InvestingPro data, while the company maintains strong liquidity with a current ratio of 3.58, it faces challenges with revenue declining by 26% in the latest reported period. This event, to be held at the Nasdaq MarketSite in Times Square, will also feature an evening reception and the Nasdaq Closing Bell ceremony led by SEALSQ's management team.
The QS7001 platform is designed with a focus on quantum-resistant cryptography, aiming to set new standards for secure transactions in the rapidly approaching quantum computing era. It is optimized to handle post-quantum cryptographic (PQC) algorithms, enabling data authentication, signing, and encryption that withstand potential quantum computer attacks. This hardware platform has also achieved Common Criteria EAL5+ certification, underscoring its robust security features.
Carlos Moreira, Founder and CEO of SEALSQ and its parent company, WISeKey International Holding Ltd (SIX: WIHN, NASDAQ: WKEY), will reveal the company's progress in post-quantum semiconductor technology at the event. The advancements were initially introduced at the Davos 2025 event, highlighting innovations like quantum RootKeys and post-quantum satellite exploration.
The collaboration between WISeSat.Space and SEALSQ, which resulted in enabling secure post-quantum transactions from space, was particularly noted as a significant industry breakthrough. This achievement emphasizes SEALSQ's role as a leader in quantum-resilient solutions, addressing the need for enhanced security against quantum computing threats.
SEALSQ's portfolio includes integrated solutions for a variety of applications, ranging from multi-factor authentication tokens to IT network infrastructure, and from smart home appliances to industrial control systems. The company's focus on developing PQC hardware and software products is a response to the potential vulnerabilities of current cryptographic methods such as RSA and ECC against quantum computer attacks.
The information in this article is based on a press release statement. SEALSQ's forward-looking statements highlight its business strategy and technology solutions, particularly in IoMT Security for the medical and healthcare sectors. InvestingPro analysis reveals the company's stock has shown significant price volatility, with notable gains over the past three months despite operating at a loss. InvestingPro subscribers have access to 10 additional key insights about SEALSQ's financial health and market position, essential for understanding the company's investment potential. However, these statements are subject to risks and uncertainties, including market conditions and the ability to implement growth strategies, as detailed in filings with the SEC. SEALSQ does not commit to updating any forward-looking statements due to new information or future events.
In other recent news, SEALSQ Corp has achieved significant milestones in hardware security, with its MS600X Secure Hardware Platform receiving the Common Criteria EAL5+ Certification and its VaultIC 408 secure microcontroller progressing towards FIPS 140-3 Certification. The company plans to launch its Post-Quantum Hardware Platform in 2025, which will carry the same Common Criteria EAL5+ Certification. SEALSQ Corp has also regained compliance with Nasdaq's minimum bid price requirement and is set to raise $25 million through a securities purchase agreement to fund the development of its next-generation post-quantum semiconductor technology. Maxim Group LLC is serving as the placement agent for this transaction.
In the realm of financial performance, SEALSQ Corp reported revenues of $4.8 million in the first half of 2024, showing a decrease from the previous year. However, Maxim Group revised the company's revenue estimates for 2024 and 2025 to $12.5 million and $24.2 million, respectively. They also adjusted the company's price target from $2.25 to $1.75, while maintaining a Buy rating on the stock.
SEALSQ Corp continues to innovate in the technology sector, with the launch of the INeS Box for enhanced digital identity provisioning for connected devices and advancements in developing custom application-specific integrated circuits (ASICs) in key markets. The company has also announced strategic collaboration enhancement with WISeKey International Holding Ltd, focusing on advancements in post-quantum technology and the Internet of Things. These are recent developments in SEALSQ Corp's business strategy and financial performance.
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