Company Analysis

WISeKey International Holding Ltd (WKEY)

OTC: WKEY · Services-Computer Processing & Data Preparation · Geneva 15, CH · filing with the SEC since 2019
Grade4.7
◀ Past 3.7● Present 3.6▶ Future 7.3
2 est.

The grade of WISeKey International Holding Ltd

Nine metrics read from its own filings, by tense
Headline grade
4.7/10
◀ Past3.730% of the headline
● Present3.640% of the headline
▶ Future7.330% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

3.7/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
4.0/10

Has it survived what it has been through?

1 warning event since 2019; the latest 2024-04-29.

weight 33% of this tense · 40th percentile among 77 sector filers · read for itself

From the record

WISeKey International Holding Ltd's filings since 2019 show 1 warning event: a late-report notice (Form NT 10-K or NT 10-Q, the latest 2024-04-29) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.4/10

What has it actually done, year after year?

-6.7% a year over 9 filed years; profitable in 1 of 9.

weight 45% of this tense · 24th percentile among 64 sector filers · read for its customers

From the record

WISeKey International Holding Ltd's 9 filed years say what it did: revenue went from $34 million in fiscal 2017 to $19 million in fiscal 2025, down 6.7% a year; it rose in 5 of 8 years; the deepest fall was 65% from fiscal 2018 to fiscal 2024; net income was positive in 1 of 9 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span-6.7%bottom 15% of its family
  • the share of years revenue rosebottom 30% of its family
  • the share of filed years with a profitbottom 34% of its family
  • the deepest fall from a revenue peak65.4%bottom 16% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
5.8/10

How has it treated the people who own it?

SI estimate 5.8/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 52 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 52 members with one.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
family median, 52 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: WISeKey International Holding Ltd's shareholder treatment is put at 5.8 of 10 with a confidence of 20 of 100, because fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 52 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.6/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
4.5/10

Is it financially healthy right now?

ROE -1%: lost 1¢ per shareholder dollar. Leverage 10%: owes 10¢ per asset dollar.

weight 33% of this tense · 45th percentile among 69 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, WISeKey International Holding Ltd lost about 1 cents for every dollar of shareholders' money, and gross profitability: its products earned about 2 cents per dollar of everything the company owns. Leverage: it owed about 10 cents per dollar of assets (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 11% of its family
  • return on equitybottom 35% of its family
  • gross profit against assetsbottom 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
2.3/10

How strong is its position in its industry?

bottom 23% of 68 in its family; net margin -31.5%.

weight 45% of this tense · 23rd percentile among 68 sector filers · read for its customers

From the record

WISeKey International Holding Ltd's standing among 68 graded names in its industry family: revenue of $19 million in fiscal 2025 ranks in the bottom 23% by size; a net margin of -31.5% ranks in the bottom 27%; revenue growth of -6.8% a year over the last 3 filed years ranks in the bottom 17% (its annual reports).

What it rests on

  • revenue against the family$19.3Mbottom 23% of its family
  • net margin-31.5%bottom 27% of its family
  • three-year revenue growth-6.8%bottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
4.9/10

What are the people in charge doing?

SI estimate 4.9/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 47 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 47 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
family median, 47 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: WISeKey International Holding Ltd's leadership is put at 4.9 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 47 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

7.3/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
5.9/10

How much room does it have to grow?

top 41% of 68 in its family for room to expand.

weight 22% of this tense · 59th percentile among 68 sector filers · read for itself

From the record

WISeKey International Holding Ltd's room to grow, from the newest filed statements (fiscal 2025): cash of $429 million against debt of $2 million leaves 83% of its assets as net cash, top 5% of its family; cash from operations less capital spending is -171.6% of revenue (bottom 15%); a gross margin of 47.9% (bottom 34%); research spending of 77.2% of revenue (top 10%) (its annual report).

What it rests on

  • cash less debt against assets83.0%top 5% of its family
  • cash from operations less capital spending against revenue-171.6%bottom 15% of its family
  • gross margin47.9%bottom 34% of its family
  • research spending against revenue77.2%top 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
8.0/10

What could actually drive growth from here?

top 20% of 64 in its family for growth drivers.

weight 45% of this tense · 80th percentile among 64 sector filers · read for its customers

From the record

WISeKey International Holding Ltd's growth drivers, from the filed years to fiscal 2025: revenue grew -6.8% a year over the last three filed years against -6.7% over all 9, slowing (top 43% of its family); the newest year grew 62.5% (top 15%); research spending grew 56.8% a year (top 5%); capital spending grew 34.8% a year (top 17%) (its annual reports). WISeKey International Holding Ltd reported 3 lines of business in fiscal 2025: Semiconductors at $15 million (76%), Asic at $4 million (19%), Non Reportable at $1 million (5%); 2 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-0.1 points a yeartop 43% of its family
  • the newest year's revenue growth62.5%top 15% of its family
  • three-year growth of research spending56.8%top 5% of its family
  • three-year growth of capital spending34.8%top 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
7.4/10

Did its newest year beat what its own record pointed to?

top 26% of 54 in its family for expectations against reality.

weight 33% of this tense · 74th percentile among 54 sector filers · read for its shareholders

From the record

WISeKey International Holding Ltd's newest year against its own record: revenue of $19 million in fiscal 2025 came in 130% above the $8 million its prior three years' pace pointed to (top 10% of its family); net income of $6 million against a prior three-year average of $19 million (top 49%); a net margin of -31.5% against -92.8% before (top 19%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace130.0%top 10% of its family
  • net income against the prior three years' average+68%top 49% of its family
  • net margin against its prior average+61.3 pointstop 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton WKEY · research, not advice