WISeKey International Holding Ltd extends the release deadline for its annual report for fiscal year 2023 and releases unaudited key indicators for fiscal year 2023



Zug, Switzerland, April 30, 2024 (GLOBE NEWSWIRE) — Also files with the SEC Form 12b-25 in connection with the Annual Report on Form 20-F

Special Announcement under Art. Article 53 of Article 6 of the Listing Rules ” WISeKey International Holding Ltd. (WISeKey or the Company) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity and IoT company, today announced that on April 29, 2024, SIX Exchange Regulatory AG approved the extension Publishes the annual report for the fiscal year ending December 31, 2023 (FY2023) to May 31, 2024.

The company requested and received an extension for the following reasons:

  • The financial statements for fiscal year 2023 are particularly complex to prepare due to a number of factors, including, but not limited to, the partial spin-off of SEALSQ Corp (NASDAQ: LAES) in 2023 and the Company's reliance on the completion of the audit of SEALSQ Corp Financial Statements.
  • The letter received from Sixth Exchange Regulatory AG requested management's attention in response to preliminary inquiries regarding certain accounting treatments for its fiscal 2022 annual report. Auditors are now able to finalize financial figures for fiscal 2023.
  • The Sixth Exchange Supervision AG preliminary investigation also requires the company's auditors to perform additional procedures and reviews to address the opinions and formally document their position before issuing an opinion on the company's fiscal 2023 financial statements. The auditors confirmed to the company that the work would not be completed by April 30, 2024.
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In its decision, SIX Exchange Regulatory AG requires WISeKey to publish certain unaudited financial measures for the 2023 fiscal year.

  • Revenue for the year ended December 31, 2023 reached US$31 million, an increase of 30% compared with fiscal year 2022.
  • Gross profit was $15 million (48% margin), an increase of $5 million from the $10 million reported in fiscal 2022, which was directly attributable to revenue growth.
  • Unaudited net loss for fiscal 2023 is expected to be $15 million, compared with a net loss of $29 million reported the previous year. The main factor behind this improvement is the disposal of the loss-making subsidiary arago GmbH, which will be completed in 2022.
  • WISeKey's balance sheet total is stable at $48 million, with a strong cash position of $13 million.

WISeKey CEO Carlos Moreira noted that while the reasons behind this delay include certain factors beyond our control, our team is working hard with the auditors to complete the audit of fiscal 2023 financial results. We remain committed to maintaining the highest standards of transparency and accuracy in financial reporting.

In a decision dated April 29, 2024, SIX Exchange Regulatory AG requested WISeKey to include the following excerpt in this interim announcement:

“I. The exemption request made by WISeKey International Holding AG (the issuer) on April 26, 2024, concerning the extension of the deadline for the publication of its annual report for 2023 and the submission of such reports to SIX Exchange Regulatory AG to no later than 2024 May 31, and was approved to retain (a) the following subject to the following conditions (b):

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  1. 6. If the issuer fails to disclose the 2023 annual report in accordance with the temporary publicity regulations, the Sixth Stock Exchange reserves the right to suspend trading in the issuer’s registered shares (Article 53 of the Listing Rules) [LR] Related to temporary publicity instructions [DAH]) and shall be submitted to SIX Exchange Regulatory AG by 11:59 pm CET on Friday, 31 May 2024 at the latest.
  2. WISeKey is required to publish a notification of this decision in accordance with the provisional publicity provisions (Article 53 of the Laws and Regulations relating to DAH) by 7:30 am CET on Tuesday, April 30, 2024 at the latest. The notice must contain:
    • An exact copy of the wording of paragraph 1. 1. Place this decision in a prominent position;
    • Reasons for the issuer to apply for an extension of the deadline for publishing the 2023 annual report and submitting the report to SIX Exchange Regulatory AG;
    • Unaudited key figures for 2023 annual results, such as net income, EBITDA, EBIT, profit and loss, balance sheet total, equity, etc.

Additionally, the Company announces that it has filed a Notice of Late Filing on Form 12b-25 with the U.S. Securities and Exchange Commission (SEC) in connection with the Company's Annual Report on Form 20-F for fiscal 2023. Form F Annual Report; May 15, 2024 marks the end of the 15-day extension period.

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About WISeKey
WISeKey International Holdings, Inc. (WISeKey; WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity and IoT solution platforms. It is a Switzerland-based holding company that operates through multiple operating subsidiaries, each dedicated to specific aspects of its technology portfolio. Subsidiaries include (i) SEALSQ Corp (NASDAQ: LAES), which focuses on selling integrated solutions based on semiconductors, PKI and configuration services, while developing post-quantum technology hardware and software products; (ii) WISeKey SA , specializing in RoT and PKI solutions for secure authentication and identification in IoT, blockchain and artificial intelligence, (iii) WISeSat AG focusing on space technology for secure satellite communications, especially for IoT applications, and (iv ) WISe.ART Corp focuses on trustworthy blockchain NFTs and operates the WISe.ART marketplace to enable secure NFT transactions.

Each subsidiary is committed to WISeKey's mission of protecting cyber security while focusing on their respective areas of research and expertise. Their technology is seamlessly integrated into the comprehensive WISeKey platform. WISeKey uses blockchain, artificial intelligence and IoT technologies to protect the digital identity ecosystem of individuals and objects. WISeKey has deployed more than 1.6 billion microchips in various IoT fields and plays a vital role in protecting the Internet of Everything. WISeKey is trusted by the OISTE/WISeKey cryptographic root of trust to provide secure authentication and identification for IoT, blockchain and artificial intelligence applications. The WISeKey root of trust ensures the integrity of online transactions between things and people. For more information about WISeKey's strategic direction and its subsidiaries, please visit www.wisekey.com.

Media and investor contact information:

WISeKey International Holdings Limited
Company Contact: Carlos Moreira
Chairman and Chief Executive Officer
Phone: +41 22 594 3000
info@wisekey.com

WISeKey Investor Relations (US)
Equity Group Company

Lena Carty

Phone: +1 212 836-9611 / lcati@equityny.com

Katie Murphy

Phone: +1 212 836-9612 / kmurphy@equityny.com

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Disclaimer:
This communication contains, expressly or implicitly, certain forward-looking statements regarding WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors that may cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be different from any future results expressed or implied by such forward-looking statements, Significant differences in performance or achievements. WISeKey International Holding Ltd is providing this communication as of today and does not undertake to update any forward-looking statements contained in this communication as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities nor does it constitute a prospectus within the meaning of the Swiss Financial Services Act (FinSA), FINSA's predecessor legislation or advertising. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is or should be construed as a promise or representation as to WISeKey's future performance.





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