Wisekey achieves slightly more sales | Company Switzerland

(AWP) Cybersecurity provider Wisekey (WIHN 0.3170 +3.26%) according to unaudited figures, achieved slightly more sales in the first quarter. In addition, the order backlog makes the company optimistic.

For the first three months of 2022, Wisekey reports revenues of $4.9 million. The company announced on Wednesday that this was an increase of more than 4%. In addition, the cash position was “strong” at 25 million at the end of March.

The first quarter of 2022 was a strong quarter despite the volatile geopolitical and macroeconomic conditions, CEO Carlos Moreira was quoted in the statement. This shows that Wisekey can maintain sustainable growth.

“Strong year” expected

The core IoT (Internet of Things) business grew by 15% to $3.8 million in the first quarter of 2022. At the end of April, the order backlog was also 170% higher year-on-year and also higher than sales for the full year 2021, it said.

Higher demand, increased order backlog and some new customers would have a positive impact on the company’s sales and full-year 2022 expectations. Wisekey expects “another strong year”.

Demand for IoT products remains very high and deliveries are already planned for 2023. In view of the ongoing bottlenecks in the semiconductor supply chain, Wisekey is examining all options to shorten delivery times for customers.