LAES revenueFY2025$18.25M
- FY YoY
- +66.2%
- 5Y CAGR
- +5.0%
LAES revenue was $18.25M for fiscal 2025 (ended Dec 31, 2025), up 66.2% from fiscal 2024. Compound annual growth was +5.0% over 5 years. It rose in 4 of the last 5 fiscal years.
SEALSQ Corp (LAES) financials
For fiscal 2025 (ended Dec 31, 2025), SEALSQ Corp reported $18.25M of revenue and -$34.19M of net income.
- Revenue, FY2025
- $18.25M
- Revenue growth, YoY
- +66.2%
- Net income, FY2025
- -$34.19M
- Net margin
- -187.3%
- Free cash flow, FY2025
- -$32.00M
- Cash
- $417.66M
- Total debt
- $1.68M
- P/S
- 16.08
- Market cap
- $293.5M
FY2020FY2025
FY2020FY2025
FY2020FY2025
LAES revenue and earnings growth
LAES net incomeFY2025-$34.19M
LAES net income was -$34.19M for fiscal 2025 (ended Dec 31, 2025), compared with -$21.20M in fiscal 2024.
LAES EPSFY2024-$0.60
LAES diluted EPS was -$0.60 for fiscal 2024 (ended Dec 31, 2024).
LAES free cash flowFY2025-$32.00M
LAES free cash flow was -$32.00M for fiscal 2025 (ended Dec 31, 2025), compared with -$10.70M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenue | $18.25M | $10.98M | $30.06M | $23.20M | $17.00M | $14.32M |
| Cost of revenue | $9.62M | $7.25M | $16.01M | $13.27M | $9.55M | $8.15M |
| Gross profit | $8.63M | $3.73M | $14.05M | $9.80M | $7.15M | $5.43M |
| Research and development | $12.48M | $4.99M | $3.95M | $2.31M | $3.05M | $4.13M |
| Selling, general and admin | $25.79M | $10.84M | $8.64M | $3.09M | $4.98M | $6.79M |
| Operating income | -$39.80M | -$17.19M | -$4.14M | $2.58M | -$5.04M | -$8.59M |
| Interest expense | $67.0K | $14.6K | $4.9K | - | - | - |
| Pre-tax income | -$34.21M | -$18.12M | -$3.04M | $2.52M | -$4.82M | -$9.20M |
| Income tax | -$162.0K | $3.08M | $225.0K | -$3.25M | $6.0K | $5.0K |
| Net income | -$34.19M | -$21.20M | -$3.27M | $5.77M | -$4.83M | -$9.20M |
| EPS, basic | - | -$0.60 | -$0.21 | $0.41 | -$0.34 | -$7.09 |
| EPS, diluted | - | -$0.60 | -$0.21 | $0.41 | -$0.34 | -$7.09 |
| Diluted shares | - | 27.7M | 7.8M | 6.6M | 6.6M | 1.3M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $417.66M | $84.62M | $6.89M | $4.06M | $2.06M | $1.83M |
| Short-term investments | $10.03M | - | - | - | - | - |
| Receivables | $12.94M | $3.83M | $5.05M | $2.22M | $2.61M | - |
| Inventory | $2.01M | $1.42M | $5.23M | $7.51M | $2.71M | - |
| Current assets | $449.64M | $93.06M | $20.27M | $16.12M | $8.25M | - |
| Goodwill | $5.66M | - | - | - | - | - |
| Total assets | $504.18M | $97.57M | $27.93M | $21.66M | $11.84M | - |
| Current liabilities | $28.25M | $16.89M | $8.72M | $10.63M | $7.76M | - |
| Short-term debt | $689.0K | - | - | - | - | - |
| Long-term debt | $989.0K | - | $1.52M | - | - | - |
| Total debt | $1.68M | - | $1.52M | - | - | - |
| Total liabilities | $42.67M | $21.08M | $22.90M | $21.45M | $25.41M | - |
| Shareholders' equity | $461.51M | $76.49M | $4.74M | $212.0K | -$13.56M | -$9.37M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$31.26M | -$10.12M | -$2.75M | $446.0K | -$3.36M | -$3.02M |
| Capital expenditures | $743.0K | $571.0K | $3.02M | $299.0K | $36.0K | $52.0K |
| Free cash flow | -$32.00M | -$10.70M | -$5.77M | $147.0K | -$3.40M | -$3.08M |
| Investing cash flow | -$35.31M | -$571.0K | -$3.02M | -$299.0K | -$36.0K | $163.0K |
| Financing cash flow | $399.52M | $88.40M | $8.63M | $1.75M | $3.46M | $2.81M |
| Stock-based compensation | $11.26M | $148.0K | - | - | - | - |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenue growth, YoY | 66.2% | -63.5% | 29.6% | 36.5% | 18.7% | - |
| Gross margin | 47.3% | 33.9% | 46.7% | 42.2% | 42.1% | 38.0% |
| Operating margin | -218.1% | -156.6% | -13.8% | 11.1% | -29.7% | -60.0% |
| Net margin | -187.3% | -193.1% | -10.9% | 24.9% | -28.4% | -64.3% |
| Free cash flow margin | -175.3% | -97.4% | -19.2% | 0.6% | -20.0% | -21.5% |
| Return on equity | -7.4% | -27.7% | -69.0% | 2721.7% | - | - |
| Return on assets | -6.8% | -21.7% | -11.7% | 26.6% | -40.8% | - |
| Current ratio | 15.92 | 5.51 | 2.32 | 1.52 | 1.06 | - |
| Debt to equity | 0.00 | - | 0.32 | - | - | - |
Source: XBRL data SEALSQ Corp files with the SEC, latest filing dated Mar 31, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
LAES peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| LAES | $18.25M | +66.2% | -$34.19M | -187.3% | $293.5M |
| NVDA | $302.97B | +83.4% | $192.88B | 63.7% | $4.50T |
| TSM | NT$3.81T | +31.6% | NT$1.70T | 44.6% | $1.95T |
| AVGO | $89.10B | +48.7% | $38.27B | 42.9% | $1.40T |
| MU | $133.19B | +256.3% | $84.97B | 63.8% | $780.68B |
| AMD | $45.44B | +41.9% | $7.62B | 16.8% | $736.46B |
| INTC | $59.89B | +12.1% | -$12.03B | -20.1% | $299.10B |
| AMAT | $30.84B | +7.8% | $9.27B | 30.1% | $264.05B |
LAES FAQ
8 questionsWhat is LAES revenue?
SEALSQ Corp (LAES) reported $18.25M of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 66.2% from the year before.Is LAES profitable?
No. SEALSQ Corp reported a net loss of $34.19M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does LAES have?
SEALSQ Corp reported $417.66M in cash and cash equivalents and $1.68M of debt on its most recent balance sheet in SEC filings.How fast is LAES revenue growing?
SEALSQ Corp's revenue changed +66.2% in fiscal 2025, to $18.25M. Its compound annual growth rate was +5.0% over 5 years.What is LAES gross margin?
SEALSQ Corp's gross profit was $8.63M on $18.25M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 47.3%.What is LAES free cash flow?
SEALSQ Corp generated -$32.00M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$31.26M less capital expenditures.When did LAES last report financial results?
The latest statements here come from SEALSQ Corp's 20-F filed on Mar 31, 2026, covering the period ended Dec 31, 2025.Where does this LAES financial data come from?
Quantisnow builds these statements from the structured XBRL data SEALSQ Corp files with the SEC. It is provided for information only and is not investment advice.