SPY437.98-8.77 -1.96%
DIA342.35-4.72 -1.36%
IXIC13,768.92-385.10 -2.72%

WISeKey Shares Pop After Sharing Key Business Milestones For 2021

Benzinga · 12/29/2021 12:38
  • Cybersecurity and IoT company WISeKey International Holding Ltd (NASDAQ:WKEYsummarised its key business milestones for 2021. 
  • WISeKey sees 2021 full-year revenue of ~$20 million, a 32% increase year-over-year.
  • However, WISeKey noted it had an annual revenue potential of $30 million based on recently received orders and the demand from its clients, had COVID-related supply issues not been in a factor.
  • Carlos Moreira, WISeKey's CEO, noted, "Following a year of significant investment and strategic realignment, backed by a strong cash, cash equivalents, and restricted cash position of $33 million at the end of Q3 2021 (from $17.4 million at June 30, 2020), we now find ourselves ideally positioned for the future. This cash position means that we have reserves available to quickly make key strategic investments and also continue to finance our business units whilst we support and develop our revenue generation in the AI and NFT segments."
  • Price Action: WKEY shares traded higher by 5.82% at $4.30 on the last check Wednesday.