Cybersecurity Wisekey with slump in sales in the first half of the year

The Geneva-based cybersecurity provider Wisekey suffered a slump in sales in the first half of 2024 and posted deep red figures at the bottom line. The second half of the year should be better.

The Zug-based company sees 2024 as a year of transition. The first half of the year saw the expected slowdown in demand for conventional semiconductors. As a result, turnover slumped from 15.1 million US dollars to 5.2 million US dollars, according to a statement issued on Monday evening.

At the same time, expenses were increased, which led to a high operating loss of 14.1 million US dollars and a net loss of 15.5 million (previous year: -7.1 million).

For the remainder of 2024, the management expects an improved performance compared to the first half of the year. However, the decisive factor will be when demand for next-generation semiconductor products picks up. The company hopes that the first pilot projects will start this year.

SDA