Semiconductor revenues increased by 38% Y/Y to $23.2 million.
Carlos Moreira, WISeKey’s Founder and CEO, noted, “Since the beginning of 2021, demand for our IoT semiconductor products has been unprecedented and has reached a point that we are now sitting on a solid backlog of purchase orders totaling $36 million.”
Moreira continued, “Our strong backlog has given us a great building block that allows our sales team to focus on new opportunities to expand our customer base and geographic footprint. As a result, we expect to see a significant increase in the number of customers served by WISeKey in this sector by 2023 / 2024.”
Price Action: WKEY shares traded higher by 11.85% at $2.36 in the premarket on the last check Friday.
