WISeKey International Holding (NASDAQ:WKEY) reported a 58% increase in annual revenue and a significant expansion of its liquidity position for fiscal year 2025, driven by surging demand for secure semiconductors and the consolidation of key acquisitions.
For the full year ended Dec. 31, 2025, the Geneva-based cybersecurity firm posted preliminary revenue of $19 million, up from $12 million in 2024.
The fourth quarter was particularly robust, with revenue doubling year-over-year to $8 million.
The growth was largely attributed to the performance of its subsidiary, SEALSQ (NASDAQ:LAES), and the integration of IC’ALPS, a semiconductor design specialist acquired in August 2025.
The company ended the year with a cash balance exceeding $425 million, a 370% increase from the $90 million held at the end of 2024.
This capital cushion is designated to fund what management calls the "Year of Convergence," a strategy unifying semiconductors, satellites, and blockchain into a single quantum-resilient ecosystem.
Meanwhile, WISeKey's commercial pipeline for 2026–2028 has expanded to over $200 million, including $60 million specifically linked to its new QS7001 post-quantum chips and QVault TPM solutions.
While the company reported a net loss earlier in the year due to heavy R&D and stock-based compensation, management issued a confident outlook for 2026, projecting revenue growth of 50% to 100%.