WISeKey International Holding Ltd ADR Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $19.3M+62.4% YoYTTM through 31 Dec 2025
Net Income -$6.1MTTM through 31 Dec 2025
Free Cash Flow -$33.1MTTM through 31 Dec 2025
Margins
| Current | |
|---|---|
| Gross Margin | 47.9% |
| EBITDA Margin | -243.5% |
| Operating Margin | -247.3% |
| Net Margin | -31.5% |
Returns
-13.2%ROE
-1.2%ROA
Balance Sheet Health
Debt / Equity0.05x
Current Ratio12.92x
Net Debt-$426.9Mnet cash position
Cash & Equivalents$429.2M
Quality Metrics
Altman Z-Score-0.01
Piotroski F-Score5 / 9
FCF Margin-171.6%
Rule of 40-140.5
Multi-Year Trend
RevenueFY2025: $19.3M
Diluted EPSFY2022: $-0.24
Dividend
No dividend
Capital Allocation
R&D Spend$14.9M
Capex Intensity3.9%
Segment Performance
| Segment | Revenue | YoY | Outlook |
|---|---|---|---|
| Semiconductors | $14.7M | +33.6% | View detailsCommercial rollout of QS7001 post-quantum secure chips and QVault TPM expected to drive growth starting in late 2026. |
| ASIC | $3.6M | View detailsExpects full-year consolidation of IC'Alps revenues in FY 2026 to expand contribution. | |
| Non-reportable segments | $1M |
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