WISeKey's H1 2021 Preliminary Revenue Jumps 24% To $9.9M - WISeKey Intl Holding (NASDAQ:WKEY)

WISeKey International Holding Ltd WKEY reported the first half FY21 preliminary revenue growth of 24% year-on-year to $9.9 million.
The company’s cash reserves of $35.9 million, as of July 9, support investment in Artificial Intelligence, new products, IP, and faster-growing IoT and Cybersecurity markets.
It invested in new technologies and talent, expanded client base and geographic reach, CEO Carlos Moreira said.
The recent acquisition of a controlling interest in arago GmbH offered a new, higher-margin revenue source for AI-based Knowledge Automation and new synergies for IoT revenue generation.
WISeKey’s solid revenue pipeline for existing product offerings and new opportunities in the emerging Cybersecure Automation for the AIoT market renders it well-positioned for growth.
Price action: WKEY shares traded higher by 8.11% at $7.20 on the last check Friday.