Investors
Key Figures
During the first half of 2026, our strategy moved from vision to execution, as our platforms increasingly came together as one integrated ecosystem for the post-quantum era.
We ended the first six months with a strong balance sheet, key post-quantum and space milestones, and a clear roadmap to turn this infrastructure into sustainable commercial growth.
H1 2026
$495M
Cash and restricted cash at 30/06/2026
48%
Gross profit margin
Revenue
Revenue, USD million
Full year
First half
Full-year and first-half figures are shown separately because the two periods are not comparable. Both charts share one scale.
Share capital
Total number of shares in issuance
- F Shares
- 1,819,060
- B Shares
- 5,180
- Ordinary Shares
- 4,176,654
- Total number of voting rights
- 8,054,790
H1 2026
Key financial and operational highlights
$495 million cash and restricted cash balance
$495 million cash and restricted cash balance as of June 30, 2026, supported by a $125.0 million registered direct offering completed by SEALSQ in March 2026, allowing WISeKey to fund operational scaling, targeted M&A and accelerated R&D investments.
$11.4 million revenue, up 116%
$11.4 million revenue in H1 2026, a 116% increase compared to $5.3 million in H1 2025, stemming from a 68% revenue increase in our legacy business and the consolidation of six months of IC’Alps revenue and one month of Miraex and Wecan revenue, both acquired on June 1, 2026.
$5 million QS7001 commercial contract with Quobly
Commercialization traction for the QS7001 Post-Quantum Secure Element, including NIST SP 800-90B Entropy Source Validation, completion of Common Criteria fault-injection and side-channel resistance testing, development kits delivered to over 10 global partners, and a $5 million commercial contract with Quobly.
$200 million SEALQuantum Sovereign Vertical Stack
Deployment of the $200 million SEALQuantum Sovereign Vertical Stack through SEALSQ to achieve architectural quantum sovereignty, “Root-to-Qubit”. More than $50 million has been committed to date across strategic equity investments in IC’Alps, Miraex, Quobly, Quantix Edge Security, ColibriTD, EeroQ and the Wecan Group.
Acquisitions and strategic investments
Acquisition of Miraex SA in June 2026, adding photonic integrated-circuit capabilities for quantum networking; 55.5% controlling interest acquired in the Wecan Group in June 2026; and strategic investments in Quobly SAS and EeroQ Corporation, extending into quantum computing technologies.
$9.6 million invested in R&D
$9.6 million invested in R&D for the Group’s next-generation product portfolio, including post-quantum semiconductors, quantum-resistant ASICs and WISeSat’s Quantum Spatial Orbital Cloud (QSOC).
$225 million+ pipeline
More than $225 million active business pipeline of potential revenue opportunities through 2029 as of September 22, 2026, including more than $100 million linked to our post-quantum technologies, including the QS7001 and QVault TPM programs.
WISeSat listed on Nasdaq after 21st satellite launch and Swiss Space Command pilot
21st WISeSat satellite launch in March 2026; completion of a pilot phase with the Space Command of the Swiss Armed Forces in April 2026 to validate a sovereign, secure Swiss space communication architecture; and Form F-4 filed on June 23, 2026 for the proposed business combination of WISeSat.Space Corp. with Columbus Acquisition Corp. (Nasdaq: COLA). WISeSat.Space began trading on Nasdaq under the ticker SAIQ on October 2, 2026.
2026
Key growth areas
WISeKey entered the second half of 2026 with strong commercial momentum, having generated $11.4 million of revenue in the first six months, up 116% on H1 2025. On the strength of this performance, management reaffirmed its full-year 2026 revenue growth guidance of 50% to 100% compared with FY2025. Growth is expected to come from rising demand for Vault-IC secure elements, the full six-month consolidation of IC’Alps, and expanding recurring revenue from smart meter and PKI offerings.
WISeKey has therefore taken several initiatives to develop new revenue streams and strengthen net results. These initiatives include:
Post-Quantum Semiconductors Commercialization (QS7001 & QVault TPM)
Initial commercialization of our post-quantum semiconductors is expected in Q4 2026, with increased production-related revenue as customer programs progress from 2027. More than 15 prospective customers and partners have evaluated QS7001, and a strategic MoU was signed with GlobalFoundries to co-develop post-quantum security IP and cryogenic CMOS ASICs. Revenue from a custom post-quantum ASIC development program is also expected to begin in H2 2026.
Semiconductor Design & Personalization Centers (Quantix Edge Security, Spain)
Following first revenues of $0.8 million in H1 2026, the Group expects to validate its Semiconductor Design and Personalization Center model with Quantix Edge Security, its joint venture in Spain. Once validated, the Group will be able to propose this set-up to other nations seeking to establish local semiconductor infrastructure.
WISeSat’s Quantum Spatial Orbital Cloud
WISeSat is preparing a next-generation 6U mission for Q4 2026, with partners including Latitude and Kaynes Space, as a precursor to an initial 12-satellite 6U constellation targeted for 2027. Following the completion of its business combination with Columbus Acquisition Corp., WISeSat.Space began trading on Nasdaq under the ticker SAIQ on October 2, 2026, supporting execution of this roadmap.
Quantum computing and the SEALQuantum Sovereign Vertical Stack
Through the $200 million SEALQuantum Sovereign Vertical Stack, WISeKey has invested in ColibriTD, Quobly and EeroQ, extending its reach from secure silicon to quantum computing. The $5 million Quobly contract integrates post-quantum security, cryogenic CMOS ASIC design and PKI into quantum-computing platforms.
Scaled Up Global Footprint
WISeKey continues to expand recurring smart meter and PKI revenue with partners such as Landis+Gyr (approximately 30 million digital certificates in Asia-Pacific), a partnership with the Wi-SUN Alliance, and growth in Japan through Matter-compatible smart lock wins and a distribution partnership with Okaya Electronics.
Redomiciliation to the British Virgin Islands
On September 9, 2026, shareholders approved the redomiciliation of WISeKey International Holding Ltd from Switzerland to the British Virgin Islands, which became legally effective on October 1, 2026. The redomiciliation is intended to facilitate access to financing through increased flexibility in its corporate structure. The Group remains a Swiss tax resident.
Next step
Talk to an expert
Tell us what you need to trust and we will route you to the engineer or commercial lead who handles it.