Blockchain
WISeKey Reports Full Year 2019 Preliminary, Unaudited Revenue of $24.5 Million and Achieves Profitability

WISeKey Reports Full Year 2019 Preliminary, Unaudited Revenue of $24.5 Million and Achieves Profitability
ZUG, Switzerland – January 21, 2020 – WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity and IoT company, announced today its preliminary, unaudited results for full year ended December 31, 2019.
All 2019 figures in this release are unaudited and estimated due to the preliminary nature of the announcement. WISeKey plans to issue its full year 2019 audited results before March 31, 2020 and conduct a conference call (details will be announced at a later date).
For full year 2019, WISeKey expects its revenue to be approximately $24.5 million. This compares to full year 2018 revenue of $53.7 million, which included revenue from the SSL/TLS PKI business segment sold to DigiCert in January 2019 for $45 million. Excluding SSL/TLS PKI revenues for both reporting periods, WISeKey’s expected full year 2019 revenue of approximately $22.7 million decreased from full year 2018 revenue of $34.3 million due internal restructuring efforts to transform the Company into an Identity Management/IoT/Blockchain service provider. Additionally, WISeKey expects to report net income for full year 2019, due to the $31.1 million gain generated from the sale of the SSL/TLS PKI business. Carlos Moreira, WISeKey’s Founder and Chief Executive Officer noted, “2019 was a transformational year for WISeKey. Following the sale of the SSL/TLS PKI business, WISeKey has become a vertically integrated Identity Management/IoT/Blockchain service provider with a unique trust model. While Blockchain is an emerging technology still in its infancy, and many technology providers are struggling to create a winning Blockchain solution, WISeKey with its unique trust model is already generating substantial revenue from this segment. As Blockchain technology matures and demand for IoT security continues to gradually accelerate, we expect our revenue from this segment to increase and profitability to improve.
“In 2019, we experienced increased demand for our products (hardware and software) and services from existing and new/potential clients, while the release of new proprietary solutions with strong cybersecurity offerings, accelerated new customer acquisitions and increased our geographic footprint. Additionally, we further enhanced our position in the Identity Management/IoT/Blockchain segment through the establishment of several partnerships with leading players in the space. As we continue to execute our growth strategy, I am confident that we have the talent, vision and experience to continue gaining market share in 2020 and beyond.”
Strong cash position supports growth initiatives In January 2019, we received net cash proceeds of $35.8 million (total sale price of $45 million) from the sale of our SSL/TLS PKI business. WISeKey used the cash proceeds to repay in full the Line of Credit with ExWorks Capital Fund I, L.P. in the amount of $25.3 million. This substantially improved the Company’s financial position and paved the way for significant investments in growth initiatives.
Growth Strategy WISeKey’s growth strategy also includes the implementation of the Ines and Foresight Platform which is designed to seamlessly integrate WISeKey’s technologies into an Internet of Objects platform. The Ines and Foresight Platform is being used by smart car manufacturers, dealers and suppliers to validate the authenticity of different vehicle components, protect onboard communication between vehicle components, access car components to securely provide over-the-air software updates and diagnose mechanical/technical issues from any location.
2019 Business Highlights – new products and new markets
About WISeKey Press and investor contacts:
Disclaimer: Non-GAAP to GAAP Reconciliations Non-GAAP Financial Measures
On December 21, 2018, WISeKey signed a sale and purchase agreement (the “SPA”) to sell QuoVadis SSL and PKI businesses to Digicert Inc (the QuoVadis Group). While the sale was completed in the first quarter of 2019, WISeKey assessed the SPA under ASC 205 and concluded that the operation met the requirement to be classified as held for sale (at December 31, 2018) and as such qualified as discontinued operations. This led to the results and assets and liabilities of the QuoVadis Group to be presented separately in the consolidated income statement and consolidated balance sheet. However, WISeKey management reviewed 2018 financials on a consolidated basis, including discontinued operations results.
In managing WISeKey’s business on a consolidated basis, WISeKey management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. In measuring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing our gross margin and operating margin and when assessing appropriate levels of research and development efforts. In addition, management relies upon these non-GAAP financial measures when making decisions about product spending, administrative budgets, and other operating expenses. We believe that these non-GAAP financial measures, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of the Company’s results of operations and the factors and trends affecting WISeKey’s business. We believe that they enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to operations, certain non-cash expenses related to acquisitions and share-based compensation expense, which may obscure trends in WISeKey’s underlying performance. This information also enables investors to compare financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management.
These non-GAAP financial measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. The presentation of these and other similar items in WISeKey’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent, or unusual. Reconciliations of these non-GAAP measures to the most comparable measures calculated in accordance with GAAP are provided in the financial statements portion of this release in a schedule entitled “Financial Reconciliation of GAAP to non-GAAP Results (unaudited).”
Cash and cash equivalents together with restricted cash increased to $16.6 million at December 31, 2019, from $9.8 million at December 31, 2018.
WISeKey expects the deployment of its new product NanoSEAL®, the continued traction of several other new blockchain and IoT products released in 2019, and further expansion of its operations in the U.S., China and Saudi Arabia to provide new revenue streams in 2020 and 2021.
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
WISeKey International Holding Ltd
Company Contact: Dourgam Kummer
Head of M&A
Tel: +41 22 594 3000
[email protected]WISeKey Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
[email protected]
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.
12 months ended December 31, 2018
Consolidated Statement of Income / (Loss)
Non-GAAP adjusting entries
USD’000
Non-GAAP
Reclassification of discontinued operations
US GAAP
Net sales
53,692
(19,412)
34,280
Blockchain
Blocks & Headlines: Today in Blockchain – April 25, 2025 | BitNile, Dutch Blockchain Week, Citigroup, Philippine Blockchain Week, D.O.G.E Foundation

Blockchain’s metamorphosis from niche ledger technology to the backbone of Web3 has never been more evident. Today, we cover five stories that illustrate the evolving ecosystem: a gaming platform issuing its own token on Solana; Europe’s marquee Web3 summit; a major bank forecasting a “ChatGPT moment” for blockchain; a Southeast Asian conference aimed at busting crypto myths; and a foundation rebuilding blockchain from the ground up to solve scalability. Each development—whether product launch, industry gathering, macro forecast, educational initiative, or infrastructure innovation—offers a window into the trends shaping decentralized finance, NFTs, DeFi, and beyond.
1. BitNile.com to Launch Nile Coin on Solana
News Summary
Hyperscale Data’s subsidiary BitNile.com will introduce the Nile Coin on Solana starting May 1, 2025. The U.S.–based social gaming site chose Solana for its high throughput and low fees, aiming to enhance in-game economies, reward engagement, and deliver seamless micro-transactions. Details on tokenomics and governance are forthcoming, but management touts Nile Coin as a cornerstone of future gaming experiences.
Source: CoinTrus
Analysis & Commentary
Launching a proprietary token underscores two converging trends: the gamification of finance and finance-ification of gaming. By minting Nile Coin, BitNile.com taps into DeFi mechanics—staking, liquidity pools, NFT rewards—while leveraging Solana’s scalability. Strategically, BitNile.com positions itself for partnerships with NFT marketplaces and DeFi protocols, potentially opening secondary markets for in-game assets and generating new revenue streams beyond ad sales or subscription fees.
2. Dutch Blockchain Week 2025 Gears Up in Amsterdam
News Summary
From May 19–25, Amsterdam will host the sixth annual Dutch Blockchain Week, culminating in the two-day summit (May 21–22) at De Meervaart. Tier 1 exchanges (Bitvavo, Kraken, Coinbase), Web3 pioneers (WOW.ai, Blockrise), regulators (European Commission, De Nederlandsche Bank), and industry partners (Mastercard, Deloitte) will convene. Side events range from AI-powered hackathons tackling compliance to padel networking meetups—underscoring the event’s blend of technology, policy, and community.
Source: Dutch Blockchain Week
Analysis & Commentary
Dutch Blockchain Week typifies the maturation of blockchain conferences into multidisciplinary forums. Beyond token talk and yield farming, panels on regulation, institutional adoption, and security reflect Web3’s integration into mainstream finance. Anticipate announcements on CBDC pilots, DeFi compliance frameworks, and cross-chain interoperability projects that may emerge from the Block & Order Hackathon.
3. Citigroup Predicts Blockchain’s “ChatGPT Moment”
News Summary
In an April 23 report, Citigroup analysts argue that 2025 could be blockchain’s “ChatGPT moment,” driven by regulatory clarity around stablecoins and integration with traditional financial systems. They forecast stablecoin market capitalization ballooning to $1.6 trillion (base case) or as much as $3.7 trillion (bull case) by 2030—anchored by dollar-denominated issuers and collateralized with U.S. Treasuries. Regulatory frameworks like the GENIUS Act could catalyze adoption among banks and fintechs.
Source: Cointelegraph
Analysis & Commentary
Drawing parallels to generative AI’s explosive growth, Citigroup envisions a tipping point where blockchain moves from experimental to essential infrastructure. Successful integration will hinge on robust compliance tools, auditability, and clear governance models. Enterprise blockchain vendors should prepare for surging demand in tokenized payments, on-chain settlements, and embedded DeFi rails within legacy systems.
4. Philippine Blockchain Week 2025 Debunks Crypto Myths
News Summary
Scheduled for June 10–11 at SMX Convention Center Manila, Philippine Blockchain Week (PBW) 2025 will tackle misinformation and spotlight real-world use cases. Highlights include “Crypto, Unpacked” sessions demystifying the technology; “Smart Regulation” panels uniting policymakers and innovators; and “Blockchain for Impact” showcases on remittances, disaster relief, and digital identity. Founding President Donald Lim emphasizes government support and public–private collaboration to spur inclusive growth.
Source: UseTheBitcoin
Analysis & Commentary
PBW exemplifies how emerging markets leverage education to accelerate Web3 adoption responsibly. By engaging regulators early, PBW can shape balanced frameworks that encourage innovation while protecting consumers—an instructive model for markets wrestling with both hype and skepticism.
5. D.O.G.E Foundation Launches New Blockchain, Opens Seed Round
News Summary
The D.O.G.E Foundation announced a ground-up blockchain rebuild designed to solve the scalability and reliability challenges plaguing existing networks. This modular architecture separates validation from execution to enable parallel transaction processing—targeting real-time gaming, DeFi under high load, and AI-driven applications. A seed funding round is now open to investors who share the vision of a performant, decentralized infrastructure.
Source: D.O.G.E Altcoin GlobeNewswire
Analysis & Commentary
As layer-1 congestion and high gas fees persist, new entrants must justify a “why now” with clear architectural advantages. If the D.O.G.E blockchain delivers real-world throughput and maintains decentralization, it could spur a renaissance of high-performance DeFi protocols and NFT platforms hungry for cost-effective base layers.
Conclusion & Key Takeaways
-
Tokenization of Entertainment: BitNile’s Nile Coin on Solana highlights blockchain’s expansion into gaming economies and NFT reward systems.
-
Convergence of Tech, Policy & Community: Dutch Blockchain Week showcases Web3’s evolution into an ecosystem engaging regulators, enterprises, and developers under one roof.
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Mainstream Inflection Point: Citigroup’s “ChatGPT moment” thesis suggests blockchain is poised for exponential adoption given regulatory support.
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Education as Catalyst: Philippine Blockchain Week’s myth-busting curriculum underscores the importance of public–private dialogue in emerging markets.
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Infrastructure Innovation: The D.O.G.E Foundation’s modular, high-throughput chain exemplifies the next wave of layer-1 networks addressing real-time, real-world use cases.
Today’s stories convey that blockchain’s next chapter will be written through strategic token launches, global convenings, regulatory clarity, educational outreach, and radical infrastructure redesign. By tracking these threads, industry participants can anticipate opportunities in DeFi, NFTs, Web3 games, and enterprise integration. Stay tuned for tomorrow’s Blocks & Headlines, where we’ll continue to decode the innovations shaping decentralized finance.
The post Blocks & Headlines: Today in Blockchain – April 25, 2025 | BitNile, Dutch Blockchain Week, Citigroup, Philippine Blockchain Week, D.O.G.E Foundation appeared first on News, Events, Advertising Options.
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