Wisekey with slump in sales in the first half of the year
Published: Monday, Sep 30th 2024, 23:10
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Geneva-based cybersecurity provider Wisekey suffered a slump in sales in the first half of 2024 and posted a bottom line in the red. 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 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.
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