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WISeKey International Holding
(WIHN)
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Rating:46Neutral
Price Target:
CHF10.50
▼(-2.42% Downside)
Action:Reiterated
Date:08/30/26
The score is primarily held back by weak financial performance, driven by ongoing operating losses and consistently negative operating/free cash flow, despite a comparatively more stable balance sheet. Technicals add a modest headwind with the stock trading below key moving averages and a negative MACD, while valuation support is limited because earnings are negative and no dividend yield is available.
Positive Factors
Revenue Rebound
The strong 2025 revenue rebound suggests renewed demand for WISeKey’s digital identity, PKI, and IoT security offerings. Sustained adoption could improve operating leverage if growth continues across certificate, software, and embedded-security solutions.
Negative Factors
Persistent Operating Losses
Ongoing operating losses show that current revenue levels do not yet cover the cost base. Without sustained margin expansion or disciplined expense control, growth may not translate into durable profitability and could require continued external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Rebound
The strong 2025 revenue rebound suggests renewed demand for WISeKey’s digital identity, PKI, and IoT security offerings. Sustained adoption could improve operating leverage if growth continues across certificate, software, and embedded-security solutions.
Read all positive factors
WISeKey International Holding (WIHN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF60.88M
Dividend YieldN/A
Average Volume (3M)6.31K
Price to Earnings (P/E)―
Beta (1Y)-0.28
Revenue Growth50.85%
EPS Growth62.40%
CountryCH
Employees202
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-1.35
Shares Outstanding4,177,172
10 Day Avg. Volume4,787
30 Day Avg. Volume6,306
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)2.03
Price to Sales (P/S)4.83
P/FCF Ratio-2.81
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-6.84
Revenue Forecast (FY)CHF32.30M
WISeKey International Holding Business Overview & Revenue Model
Company Description
WISeKey International Holding AG is a cybersecurity firm specializing in comprehensive security solutions tailored for the Internet of Things (IoT) and digital identity landscapes. Serving a global client base across Switzerland, Europe, the Middl...
How the Company Makes Money
WISeKey generates revenue primarily by selling cybersecurity and digital trust products and services centered on cryptographic identity and PKI for people, organizations, and connected devices. Key revenue streams include: (1) fees from issuing an...
WISeKey International Holding Earnings Call Summary
Earnings Call Date:Sep 23, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 29, 2026
Earnings Call Sentiment Neutral
WISeKey is making strategic advancements with its quantum convergence strategy and partnerships, promising future revenue growth. However, the current financials show increased operating losses and limited revenue growth, indicating a transitional phase with potential for future improvement.Positive Updates
Quantum Convergence Strategy
WISeKey's quantum convergence strategy is beginning to show financial potential, helping to multiply revenues, diversify them, and reduce dependency on any single line of business.
Negative Updates
Operating Loss Increase
Operating losses increased by $30.2 million to $27.3 million, largely due to a one-off stock-based compensation charge and increased investment in R&D and administrative costs.
Read all updates
Q2-2025 Updates
Positive
Negative
Quantum Convergence Strategy
WISeKey's quantum convergence strategy is beginning to show financial potential, helping to multiply revenues, diversify them, and reduce dependency on any single line of business.
Read all positive updates
Company Guidance
During the WISeKey International Holdings 2025 Interim Financial Results Earnings Conference Call, several key metrics and strategic initiatives were highlighted. Revenue for the first half of 2025 increased by $0.1 million to $5.3 million, and the company anticipates full-year revenues in the range of $18 million to $21 million. Despite an operating loss increase of $30.2 million to $27.3 million, largely due to a one-off stock-based compensation charge, the company's cash balance remains strong at $124.6 million as of June 2025. WISeKey's strategic focus includes expanding quantum resilient digital ecosystems, with a significant milestone being the upcoming launch of a world-first post-quantum chip in November 2025. The company also announced a $170 million revenue pipeline for 2026-2028, driven by demand for SEALSQ's semiconductors and new partnerships, including a EUR 20 million investment in the Quantix Edge Security initiative in Spain. Looking ahead, WISeKey plans to further commercialize its WISe.ART platform and SEALCOIN to create new revenue streams.WISeKey International Holding Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
63
Positive
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 19.29M | 11.88M | 30.92M | 23.81M | 17.65M |
| Gross Profit | 9.24M | 4.29M | 14.74M | 10.23M | 7.75M |
| EBITDA | -37.73M | -26.28M | -13.27M | -11.71M | -20.09M |
| Net Income | -6.07M | -13.45M | -15.36M | -27.48M | -20.34M |
Balance Sheet | |||||
| Total Assets | 514.59M | 114.69M | 47.80M | 49.50M | 88.81M |
| Cash, Cash Equivalents and Short-Term Investments | 439.28M | 90.60M | 15.32M | 20.71M | 34.20M |
| Total Debt | 9.81M | 8.94M | 9.77M | 9.63M | 16.86M |
| Total Liabilities | 53.44M | 27.56M | 26.72M | 25.47M | 47.43M |
| Stockholders Equity | 45.92M | 25.05M | 26.68M | 26.26M | 35.90M |
Cash Flow | |||||
| Free Cash Flow | -33.10M | -18.34M | -17.23M | -17.45M | -21.83M |
| Operating Cash Flow | -32.36M | -17.77M | -14.21M | -17.14M | -21.79M |
| Investing Cash Flow | -28.35M | 179.00K | -3.02M | -484.00K | -2.52M |
| Financing Cash Flow | 399.50M | 92.92M | 11.85M | 4.18M | 36.98M |
WISeKey International Holding Technical Analysis
Neutral
10.76
Price Trends
10.87
Negative
11.80
Negative
12.11
Negative
Market Momentum
-0.13
Negative
49.42
Neutral
47.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:WIHN, the sentiment is Neutral. The current price of 10.76 is above the 20-day moving average (MA) of 10.65, below the 50-day MA of 10.87, and below the 200-day MA of 12.11, indicating a bearish trend. The MACD of -0.13 indicates Negative momentum. The RSI at 49.42 is Neutral, neither overbought nor oversold. The STOCH value of 47.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CH:WIHN.
WISeKey International Holding Peers Comparison
UnderperformOutperform
Sector (61)
CH:WIHN
WISeKey International Holding
10.64
2.02
23.43%
CH:KUD
Kudelski SA
1.33
-0.02
-1.48%
WISeKey International Holding Corporate Events
WISeKey Sets September Vote on Redomiciling to British Virgin Islands
Aug 6, 2026
WISeKey International Holding has called an extraordinary general meeting for September 9, 2026 in Zurich, where shareholders will vote on a merger with its wholly owned British Virgin Islands subsidiary to redomicile the parent company from Switz...
WISeKey Moves to Redomicile to British Virgin Islands via Merger
Jul 17, 2026
WISeKey International Holding has initiated a planned redomiciliation from Switzerland to the British Virgin Islands by filing a Form F-4 registration statement with the U.S. Securities and Exchange Commission for a merger into its BVI subsidiary....
WISeKey Posts 115% H1 Revenue Surge as Quantum and Space Strategy Accelerates
Jul 14, 2026
WISeKey reported unaudited preliminary H1 2026 revenue of about $11.4 million, a 115 percent increase over H1 2025, supported by strong momentum in post-quantum semiconductors, digital identity and PKI businesses. The company also disclosed roughl...
WISeKey Plans Redomiciliation to British Virgin Islands via Merger
Jun 29, 2026
WISeKey International Holding has signed a merger agreement to redomicile its holding company from Switzerland to the British Virgin Islands via a merger with its wholly owned subsidiary WISeKey International Corp. Under the planned transaction, W...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.