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SEALSQ Corp (LAES)



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Upturn Advisory Summary
09/15/2025: LAES (5-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $6
1 Year Target Price $6
0 | Strong Buy |
1 | Buy |
0 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 73.19% | Avg. Invested days 39 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 472.58M USD | Price to earnings Ratio - | 1Y Target Price 6 |
Price to earnings Ratio - | 1Y Target Price 6 | ||
Volume (30-day avg) 1 | Beta -13.26 | 52 Weeks Range 0.31 - 11.00 | Updated Date 09/15/2025 |
52 Weeks Range 0.31 - 11.00 | Updated Date 09/15/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.4 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -193.07% | Operating Margin (TTM) -134.91% |
Management Effectiveness
Return on Assets (TTM) -17.12% | Return on Equity (TTM) -51.15% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 358012252 | Price to Sales(TTM) 43.04 |
Enterprise Value 358012252 | Price to Sales(TTM) 43.04 | ||
Enterprise Value to Revenue 32.61 | Enterprise Value to EBITDA -25.85 | Shares Outstanding 138732000 | Shares Floating 97539134 |
Shares Outstanding 138732000 | Shares Floating 97539134 | ||
Percent Insiders 5.24 | Percent Institutions 6.24 |
Upturn AI SWOT
SEALSQ Corp

Company Overview
History and Background
SEALSQ Corp (LAES) was formed through the business combination of WISeKey Semiconductor AG and SEALSQ Holding SA, completed in February 2023. WISeKey has a long history in digital security, dating back to 1999, focused on providing cybersecurity, IoT, and AI solutions. The combined entity aims to strengthen its position in the semiconductor and IoT security market.
Core Business Areas
- Semiconductor Solutions: Designs, develops, and markets secure microcontrollers and integrated circuits for IoT, automotive, and industrial applications. Focus on tamper-resistant and secure elements.
- IoT and PKI Solutions: Offers end-to-end IoT security solutions including device identity, data encryption, and secure communication protocols. Also provides Public Key Infrastructure (PKI) services.
- Digital Identity Solutions: Provides a wide array of cybersecurity solutions, including digital identity services, secure semiconductors, and IoT security products.
Leadership and Structure
Carlos Moreira is the CEO and the company is structured to leverage the strengths of its semiconductor and digital security divisions. WISeKey International Holding, the parent company, ultimately controls SEALSQ.
Top Products and Market Share
Key Offerings
- IoT Security Platform: Provides device provisioning, secure communication, and data management. Market share is emerging within the broader IoT security market, competing with companies like Mocana (now DigiCert) and Sectigo.
- Secure Microcontrollers (MCU): Designed for IoT devices, smart cards, and other security-sensitive applications. No precise independent market share available, but competes with Infineon, NXP, and STMicroelectronics. Revenue is significant but not broken down by product.
- Root of Trust (RoT) Hardware: SEALSQ's RoT chips are used to establish a secure foundation for electronic devices. Market share details for the RoT hardware components are difficult to pin down precisely, competing with companies like Microchip and Infineon. The revenue is significant, according to financial releases, but not itemized.
Market Dynamics
Industry Overview
The cybersecurity and IoT security market is experiencing rapid growth driven by increasing connectivity, rising cyber threats, and stricter data privacy regulations. The semiconductor industry is cyclical but experiencing high demand for secure elements.
Positioning
SEALSQ Corp aims to be a leading provider of end-to-end security solutions for the IoT and semiconductor markets. It differentiates itself through its expertise in both hardware and software security.
Total Addressable Market (TAM)
The global IoT security market is projected to reach hundreds of billions of dollars in the coming years. SEALSQ is positioned to capture a portion of this TAM by offering comprehensive security solutions for IoT devices and infrastructure.
Upturn SWOT Analysis
Strengths
- Strong expertise in cybersecurity and semiconductor technology
- Comprehensive end-to-end security solutions
- Established presence in the IoT security market
- Proprietary technology and intellectual property
- Experienced management team
Weaknesses
- Relatively small market share compared to larger competitors
- Dependence on key customers and partners
- Limited brand recognition
- Volatile stock price
- Complex organizational structure
Opportunities
- Growing demand for IoT security solutions
- Expansion into new geographic markets
- Strategic partnerships and acquisitions
- Development of new security technologies
- Increased regulatory focus on cybersecurity
Threats
- Intense competition from larger players
- Rapid technological advancements
- Evolving cyber threats
- Economic downturn
- Supply chain disruptions
Competitors and Market Share
Key Competitors
- NXPI
- STMicroelectronics (STM)
- Infineon Technologies AG (IFNNY)
Competitive Landscape
SEALSQ faces intense competition from larger, more established players in the cybersecurity and semiconductor markets. It differentiates itself through specialized security solutions and partnerships.
Major Acquisitions
SEALSQ Holding SA
- Year: 2023
- Acquisition Price (USD millions):
- Strategic Rationale: Reverse merger for public listing, leveraging SEALSQ Holding's structure.
Growth Trajectory and Initiatives
Historical Growth: Historical growth is tied to WISeKey's performance and the recent combination with SEALSQ Holding. Growth has been primarily driven by increasing demand for cybersecurity solutions.
Future Projections: Analyst estimates suggest continued revenue growth driven by the expanding IoT security market and the company's focus on innovation. Significant growth is projected, dependent on execution of their strategy.
Recent Initiatives: Recent initiatives include expanding its product portfolio, forging strategic partnerships, and investing in research and development.
Summary
SEALSQ Corp is a company specializing in cybersecurity and semiconductor solutions, particularly for the IoT market. While having a strong technological foundation and operating in a high-growth industry, SEALSQ faces challenges due to its relatively small market share and intense competition. Its success depends on executing its growth strategy, forming strategic partnerships, and expanding its product portfolio. The company must also manage its financial performance and market volatility effectively.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company SEC Filings (e.g., 10-K, 10-Q)
- Company Press Releases
- Analyst Reports (where available)
- Industry Reports
- Company Website and Investor Relations
Disclaimers:
The data provided is based on available information and may be subject to change. This analysis is for informational purposes only and should not be considered financial advice. Market share estimates are approximate and based on publicly available data. Investing in securities involves risks, including the potential loss of principal.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About SEALSQ Corp
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 2023-05-24 | Chairman of the Board of Directors & CEO Mr. Carlos Creus Moreira | ||
Sector Technology | Industry Semiconductors | Full time employees 67 | Website https://www.sealsq.com |
Full time employees 67 | Website https://www.sealsq.com |
SEALSQ Corp, together with its subsidiaries, designs, develops, and markets semiconductors in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers semiconductors, such as VaultIC secure elements, post quantum, RISC-V chips, secure arm platform, and smart card reader chips; public key infrastructure (PKI) and provisioning for internet of things (IoT), such as root of trust, Ines managed PKI, secure factory provisioning, and zero touch field provisioning services; and other PKI services, including personal digital identity services and TLS certificates. The company also provides device-to-cloud authentication, device attestation for matter, GSMA root certificate, device-to-device authentication, data protection, anti-counterfeiting and brand protection, security access, device ID provisioning, identity lifecycle management, and satellite IoT connectivity solutions. It serves smart energy, smart home, automotive EV charging, consumer IoT, aerospace and military telecommunications, industry, logistics, medical, and luxury sectors. The company was founded in 2022 and is headquartered in Cointrin, Switzerland. SEALSQ Corp operates as a subsidiary of WISeKey International Holding AG.

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