SEALSQ reports 66% revenue growth to $18 million in fiscal 2025

SEALSQ Corp (NASDAQ: LAES) reported preliminary fiscal 2025 revenue of $18 million, representing a 66% increase from the previous year, according to unaudited financial metrics released by the company.

The semiconductor and cybersecurity technology company generated $8 million in revenue during the fourth quarter of 2025, compared to $4 million in the same period of 2024. Revenue growth was attributed to increased demand for core semiconductor and PKI products, five months of contribution from acquired subsidiary IC'ALPS SAS following its August 2025 acquisition, and early adoption of post-quantum technology programs.

The company expects a net loss between $30 million and $40 million for fiscal 2025, compared to a $21 million net loss in 2024. The increased loss includes investments in research and development, sales and marketing efforts, operating expenses from the IC'ALPS consolidation, and approximately $9 million in non-cash share-based compensation charges.

SEALSQ ended 2025 with over $425 million in cash after deploying $30 million toward strategic investments during the year. The company reports an active business pipeline estimated at over $200 million in potential revenue opportunities from 2026 through 2028, including more than $60 million linked to QS7001 and QVault TPM programs.

For the first quarter of 2026, SEALSQ expects revenue to exceed $4 million, representing over 100% growth compared to the first quarter of 2025. The company maintains its fiscal 2026 guidance of 50% to 100% year-over-year revenue growth, supported by full-year consolidation of IC'ALPS revenue and commercialization of post-quantum products.

CEO Carlos Moreira stated that the revenue growth marks "a clear inflection point for SEALSQ" as the company transitions from development to commercial acceleration phase.

The financial results are preliminary and unaudited, with final audited statements expected by March 31, 2026.

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