SEALSQ Reports 66% FY2025 Revenue Growth to $18.3M and $525M Cash Position
SEALSQ delivered $18.3 million in FY2025 revenue, a 66% increase over 2024, with Q4 revenues doubling to $8 million. The company holds $525 million in cash and short-term investments and projects Q1 2026 revenues above $4 million, while its 2026–2029 business pipeline exceeds $200 million.
1. Fiscal 2025 Financial Results
SEALSQ reported FY2025 revenue of $18.3 million, up 66% year-over-year, with Q4 revenue of $8 million versus $4 million in Q4 2024. Net loss widened to $34.2 million, reflecting an $11.2 million non-cash share-based compensation charge and higher operating expenses from the IC’ALPS acquisition and expanded R&D and marketing efforts.
2. Strong Balance Sheet and Fundraising
The company closed FY2025 with $425 million in cash and short-term investments, raised an additional $125 million in March 2026 and now holds over $525 million to fuel post-quantum R&D, manufacturing scale-up and strategic acquisitions.
3. Growth Outlook and Pipeline
SEALSQ expects Q1 2026 revenue to exceed $4 million, marking over 100% year-over-year growth, and reaffirms full-year 2026 guidance of 50–100% revenue growth. Its active business pipeline for 2026–2029 tops $200 million, including $60 million tied to QS7001 and QVault TPM programs.