Wisekey International Holding S.A. WKEY
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
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Dividend yield—
Diluted EPS—
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.3M | $11.9M | $30.9M | $23.8M | $17.6M | $14.8M | $22.7M | $34.3M | $33.7M | — |
| Cost of revenue | — | — | $15.8M | $13.6M | $9.9M | $8.6M | $12.9M | $17.6M | $17.9M | — |
| Gross profit | $9.2M | $4.3M | $14.7M | $10.1M | $7.5M | $5.5M | $9.5M | $16.0M | $15.8M | — |
| R&D | $14.9M | $7.0M | $4.4M | $3.9M | $5.6M | $6.0M | $6.4M | $5.3M | $5.3M | — |
| SG&A | $27.9M | $16.3M | $17.3M | $11.5M | $14.1M | $10.7M | $15.8M | $14.2M | $15.4M | — |
| Total operating expenses | $56.9M | $31.7M | $28.0M | $20.5M | $28.6M | $24.0M | $30.0M | $25.0M | $23.7M | — |
| Operating income | -$47.7M | -$27.4M | -$13.3M | -$10.4M | -$21.2M | -$18.5M | -$20.5M | -$9.1M | -$7.9M | — |
| Interest expense | $21.0K | $884.0K | $702.0K | — | — | $718.0K | $724.0K | $2.9M | $244.0K | — |
| Pre-tax income | -$38.2M | -$28.9M | -$15.2M | -$13.0M | -$23.5M | -$28.9M | -$23.0M | -$9.9M | -$10.1M | — |
| Income tax | $163.0K | $3.1M | $230.0K | $3.2M | $13.0K | $9.0K | $13.0K | $53.0K | $71.0K | — |
| Net income | -$6.1M | -$13.4M | -$15.4M | -$27.5M | -$24.1M | -$28.9M | $7.5M | -$16.3M | -$24.8M | — |
| EPS, basic | — | — | — | -0.24 | -0.28 | -0.67 | 0.23 | -0.48 | -0.82 | — |
| EPS, diluted | — | — | — | -0.24 | -0.28 | -0.67 | 0.23 | -0.48 | -0.82 | — |
| Shares, diluted (wtd. avg.) | — | — | — | 112.4M | 71.6M | 42.8M | 37.5M | 0 | 29.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $429.2M | $90.6M | $15.3M | $20.8M | $34.4M | $21.8M | $16.6M | $11.2M | $12.2M | $5.2M |
| Short-term investments | $10.0M | — | — | — | — | $9.2M | $0 | — | — | — |
| Receivables | $5.1M | $4.3M | $5.5M | $2.6M | $3.0M | $2.9M | $3.8M | $7.6M | — | — |
| Inventory | $2.0M | $1.4M | $5.2M | $7.5M | $2.7M | $2.5M | $2.8M | $4.2M | — | — |
| Total current assets | $455.8M | $100.5M | $30.1M | $33.9M | $42.5M | $38.7M | $23.6M | $32.1M | — | — |
| Property, plant and equipment | $3.8M | $3.3M | $3.4M | $842.0K | $573.0K | $1.0M | $1.8M | $2.4M | — | — |
| Goodwill | $14.0M | $8.3M | $8.3M | $8.3M | $8.3M | $8.3M | $8.3M | $8.3M | $8.3M | $8.3M |
| Other intangibles | $21.1M | $96.0K | $96.0K | $98.0K | $105.0K | $9.0K | $600.0K | $1.1M | — | — |
| Total assets | $514.6M | $114.7M | $47.8M | $49.5M | $88.8M | $52.9M | $49.9M | $78.5M | $67.2M | — |
| Accounts payable | $19.2M | $13.5M | $12.9M | $13.4M | $14.8M | $13.1M | $10.7M | $12.9M | — | — |
| Total current liabilities | $35.3M | $21.3M | $18.9M | $18.8M | $24.8M | $25.0M | $20.1M | $34.9M | — | — |
| Long-term debt | $2.4M | $1.5M | — | — | — | — | — | — | — | — |
| Total liabilities | $53.4M | $27.6M | $26.7M | $25.5M | $47.4M | $38.5M | $29.5M | $74.5M | — | — |
| Retained earnings | -$300.5M | -$294.4M | -$281.0M | -$265.6M | -$238.2M | -$217.8M | -$189.2M | -$197.3M | — | — |
| Total equity | $45.9M | $25.0M | $21.1M | $24.0M | $41.4M | $14.4M | $20.4M | $4.0M | $8.7M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$32.4M | -$17.8M | -$14.2M | -$17.1M | -$21.8M | -$12.6M | -$13.9M | -$8.5M | -$4.9M | — |
| Depreciation and amortisation | $752.0K | $728.0K | $624.0K | $446.0K | $491.1K | $988.2K | $821.5K | $1.4M | $1.4M | — |
| Stock-based compensation | $8.3M | $1.2M | $178.0K | $744.0K | $3.8M | $393.0K | $5.4M | $1.7M | $2.2M | — |
| Capital expenditure | $743.0K | $571.0K | $3.0M | $303.0K | $36.0K | $52.0K | $293.0K | $1.2M | $669.0K | — |
| Investing cash flow | -$28.3M | $179.0K | -$3.0M | -$484.0K | -$2.5M | -$3.9M | $36.6M | -$4.2M | -$12.9M | — |
| Financing cash flow | $399.5M | $92.9M | $11.8M | $4.2M | $37.0M | $21.5M | $17.3M | $11.9M | $25.5M | — |
| Buybacks | — | — | — | — | — | $2.0K | $534.0K | $1.5M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-053033.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $33.7M | $34.3M | $22.7M | $14.8M | $17.6M | $23.8M | $30.9M | $11.9M | $19.3M |
| Gross profit | — | $15.8M | $16.0M | $9.5M | $5.5M | $7.5M | $10.1M | $14.7M | $4.3M | $9.2M |
| Net income | — | -$24.8M | -$16.3M | $7.5M | -$28.9M | -$24.1M | -$27.5M | -$15.4M | -$13.4M | -$6.1M |
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