Why WISeKey Shares Are Trading Higher Today

WISeKey International Holding Ltd WKEY shares are trading higher after reporting H1 FY23 revenues.

WISeKey operates as a holding company with four subsidiaries: SEALSQ Corp LAES, WISeKey SA, WISeSat.Space, and WISe.ART. 

Total unaudited revenue rose 39% Y/Y to $15.1 million. 

Semiconductor revenue escalated 38% Y/Y to $14.8 million, led by higher demand for semiconductors/IoT products.

WISeKey and its subsidiaries had a pipeline of IoT semiconductors products opportunities totaling $60 million in H1.

Also Read: WISeKey Meets SpaceX - Here's What's Going On

In another release, SEALSQ disclosed a Distribution Agreement with Symmetry Electronics to expand its footprint in North America.

Last month, WKEY and LAES disclosed the development of an AI-based quantum solutions demonstrator for post-quantum cryptography.

Price Action: WKEY shares are higher by 3.78% at $4.12 premarket on the last check Monday.