WISeKey International Granted Extension For Fiscal 2023 Annual Report Publication; Reports Preliminary FY 2023 Revenue $31M Up 30% YoY
Portfolio Pulse from Benzinga Newsdesk
WISeKey International (WKEY) has been granted an extension for its fiscal 2023 annual report publication by SIX Exchange Regulation AG. The company reported preliminary FY 2023 revenue of $31 million, a 30% increase YoY, with a gross profit of $15 million and an unaudited net loss of $15 million, an improvement from the previous year's $29 million loss. This improvement is attributed to the disposal of the loss-making subsidiary, arago GmbH. WISeKey's balance sheet remains stable with a healthy cash position.
April 30, 2024 | 7:51 am
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WISeKey International reported a 30% increase in FY 2023 revenue to $31 million and a reduced net loss of $15 million, showing significant financial improvement.
The reported increase in revenue and the significant reduction in net loss for FY 2023 indicate a strong financial performance and operational improvement for WISeKey. The disposal of the loss-making subsidiary, arago GmbH, has positively impacted the net loss figures, showcasing effective strategic decisions by the management. These factors are likely to be viewed positively by investors, potentially leading to a short-term positive impact on WKEY's stock price.
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