WISeKey International Holding SA / WISeKey International Holding Ltd
Reports Preliminary Nine Months 2018 Revenue of Approximately $37.6
Million (unaudited), up 12% from Same Period of 2017 . Processed and
transmitted by West Corporation. The issuer is solely responsible for
the content of this announcement.
WISeKey International Holding Ltd Reports Preliminary Nine Months 2018
Revenue of Approximately $37.6 Million (unaudited), up 12% from Same
Period of 2017
Zug, Switzerland - October 16, 2018 - WISeKey International Holding Ltd
("WISeKey") (SIX: WIHN. OTCQX: WIKYY), a provider of Cybersecurity and
IoT solutions, today announced that its consolidated preliminary revenue
for the 9 month-period ended September 30, 2018 ("Q3 2018") is expected
to increase to approximately $37.6 million (unaudited), due primarily
due to strong demand for the Company's IoT Technology and Cybersecurity
products, and a larger client base resulting from strong synergies
between these two main verticals. This represents a 12% increase from
the $33.5 million adjusted unaudited consolidated revenue reported for
the nine-month period ended September 30, 2017.
WISeKey also expects to report improved liquidity with $8.5 million in
cash at September 30, 2018, up $2.1 million from September 30, 2017, due
to its improved operating performance.
Carlos Moreira, Founder and CEO of WISeKey said, "WISeKey has been
constantly increasing its focus on the IoT segment, and we are currently
offering various solutions (both hardware and software) supporting
customers using IoT-based systems. At the same time, we are working on a
future wave of WISeKey's cybersecurity IoT technologies, enhanced with
BlockChain, WISeCoin Crypto Tokens and Artificial Intelligence (AI) via
an integrated platform with the code name 'Foresight'. WISeKey has
evolved from a cybersecurity player . to the IoT platform for the 4(th)
Industrial Revolution, led by WISeKey Semiconductors and its Public Key
Infrastructure (PKI) offerings, as we are currently delivering IoT
solutions built on the most trusted architecture ever implemented."
Milestones during the First Nine Months (January to September 2018)
WISeKey reinforced its position as a provider of digital identity and
IoT security solutions to organizations and manufacturers worldwide. The
Company also reinforced its technology's core with a set of functions
designed to be trusted by an operating system called the Root of Trust
(RoT), which is exclusively licensed by WISeKey and embedded in nearly
four billion devices worldwide. The RoT is a highly dependable
environment within a computational device for processing basic level
security functions such as encryption and authentication for digital
communication protocols such as PKI systems. During 2018 WISeKey
primarily focused on securing the IoT with managed PKI software and
secure semiconductors, although the Company is working on other
initiatives to expand the breadth and scope of its platform using AI,
cryptocurrencies and BlockChain.
Cybersecurity:
-- WISeKey received one of the first French National Cybersecurity Agency's
security Visa Labels.
-- WISeKey Semiconductor selected by Proton Technologies AG as its security
partner for its innovative secure email offering. Based in Switzerland,
ProtonMail, an industry reference, provides secure email services using
end-to-end encryption to protect emails and user data.
-- WISeKey announced that its secure chips are immune to hardware bugs that
affect the vast majority of Central Processing Units (CPU) because its
technology is based on a different architecture and approach. Of note,
in early 2018, practically every computer device, server, laptop, tablet
and smartphone in the market was affected by two major flaws in the
design of the device's CPU, allowing hackers to steal data.
-- WISeKey Semiconductors received US Patent for a dual-mode
anti-counterfeiting NFC IoT Tag for smart bottles (wine, liqueurs,
perfumes, pharma, cosmetics etc.) A full description link to patent is
available at http://goo.gl/ozgOQm.
-- WISeKey QuoVadis launched its new electronic signature product line
PrimoSign. WISeKey QuoVadis is a leading Qualified Trust Service Provider
whose e-signing services are used in more than 75 million e-signatures a
year.
-- WISeKey expanded its partnerships, particularly within the supply chain
management and government sectors, as well as in the US and China
regions.
Automotive:
-- WISeKey extended its contract with a leading automobile manufacturer to
secure connected cars using trusted cybersecurity IoT technologies.
-- WISeKey's ISTANA offering for securing connected cars against
cyber-attacks was deployed with several leading EU manufacturers and is
set to entry the Chinese market in Q4 2018.
IoT:
-- WISeKey introduced INeS, a Security Broker Solution, designed to secure
devices, cloud & IOT applications, integrated with IBM's new Watson IoT
platform.
Blockchain & Counterfeiting:
-- WISeKey leveraged its CertifyID BlockChain Technology to create a
Universal Decentralized Identification System.
-- Favre-Leuba selected WISekey's cutting-edge WISeAuthentic BlockChain
platform to protect its luxury timepieces.
-- WISeKey WISeAuthentic BlockChain for brand protection integrated its PKI
with Hyperledger Fabric to minimize counterfeiting and fraud.
-- WISeKey and Japanese Toppan Printing, a leader in security printing and
anti-counterfeiting, signed a collaboration agreement to securely connect
inert objects to the Internet.
WISeCoin and crypto tokens:
-- WISeKey signed a partnership with Highscreen International SA to develop
WISePhone - the first ever secure BlockChain phone with cryptocurrency
payment capabilities.
-- WISeCoin AG applied for regulatory clearance from the Swiss financial
market regulator, FINMA, to issue a Security Token Offering (STO).
Financing Activities:
-- WISeKey secured a convertible loan in the amount of $3.0 million from a
fund managed by Crede Capital Group, LLC.
-- WISeKey and China Bridge Capital signed an agreement to establish WISeKey
China Joint Venture.
-- WISeKey secured a short-term unsecured loan facility in an amount of $3.5
million from a fund managed by Yorkville Advisors Global, LLC and amended
its existing Standby Equity Distribution Agreement.
-- ExWorks released all of its security interests on the intellectual
property of WISeKey International Holding, WISeKey SA, WISeTrust SA and
WISeKey Semiconductors SAS and on the equity interests held by the
WISeKey in its subsidiaries WISeKey SA, WISeKey Trust, and WISeKey
Semiconductors, retaining only the security interests on the IP and
equity of the Quovadis group of companies.
M&A Activities and Stock Price Evolution
Over the past two years, WISeKey has pursued a strategic investments and
acquisition strategy to extend its platform capabilities and drive
revenue growth. In September 2016, the company acquired VaultIC-a
provider of secure integrated circuits and microcontrollers. In 2016
WISeKey made a strategic investment in Open Limit, the German listed
Cybersecurity company. In April 2017, WISeKey acquired a majority share
(85%) position in QuoVadis-a cybersecurity software vendor providing
scalable mPKI, SSL and Digital Signature solutions (remaining 15% of
QuoVadis was acquired in May 2018). As consequence of this acquisition
WISeKey also owns 10% of HydrantID, a leading US based Identity
Management company. In September 2018, WISeKey signed binding
agreements to acquire a 22% interest in Tarmin.com the Boston,
Massachusetts leader on Data & Software Defined Infrastructure and
launched a new Secure Cloud offering.
As consequences of these investments and acquisitions our operating and
financial performance has substantially improved, and we continue to
execute against a series of initiatives that we believe will, over time,
further position WISeKey to deliver the value that our shareholders
deserve. That said, we believe our stock price was negatively impacted
by a number of factors that include:
-- an overhang created by the acquisitions of VaultIC and QuoVadis - which
were partially paid in shares;
-- certain financing operations through SEDA transactions (Standby Equity
Distribution Agreement) which allows to obtain cash against the issuance
of shares;
-- the acquisition of the remaining 15% of QuoVadis and WISeKey SA;
-- the payment of Exworks interest rates in shares; and,
-- low trading volume on the Swiss Stock Exchange for our category of stock.
About WISeKey:
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity
company currently deploying via a Virtual Platform large scale digital
identity ecosystems. WISeKey's Swiss based cryptographic Root of Trust
("RoT") and IoT Microchips provides secure authentication and
identification, in both physical and virtual environments, for the
Internet of Things, Blockchain and Artificial Intelligence. The WISeKey
RoT serves as a common trust anchor to ensure the integrity of online
transactions among objects and between objects and people. For more
information, visit www.wisekey.com.
Press and investor contacts:
WISeKey International Holding Ltd WISeKey Investor Relations (US)
Company Contact: Carlos Moreira Contact: Lena Cati
Chairman & CEO The Equity Group Inc.
Tel: +41 22 594 3000 Tel: +1 212 836-9611
info@wisekey.com lcati@equityny.com
Disclaimer:
This communication expressly or implicitly contains certain
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