What's Going On With SEALSQ Shares Friday?

SEALSQ Corp. (NASDAQ:LAES) shares are trading lower on Friday after the company reported worse-than-expected 2024 fiscal-year financial results on Thursday after the market closed.

What To Know: The company reported a loss of 60 cents per share, compared to a loss of 21 cents per share in the 2023 fiscal-year. In addition, the company reported sales of $10.98 million, beating analysts’ estimate of $7.40 million, but marking a significant decrease from $30.05 million in sales for the 2023 fiscal-year.

SEALSQ attributed the revenue drop to its shift from traditional semiconductors to next-gen quantum-resistant chips, the early stage of the post-quantum market potential and market normalization following COVID-19-related supply chain disruptions.

Although the company did not offer specific guidance, it anticipates a significant revenue increase for the 2025 fiscal-year compared to 2024. SEALSQ expects this growth to be driven by new chip revenue sources, expanded chip personalization services and consolidated revenue from planned investments.

Carlos Moreira, CEO of SEALSQ, said, “With a strong cash position, no bank debt or convertible loans, and accelerating demand for our post-quantum and quantum cybersecurity solutions, we are well-positioned to drive sustainable long-term growth and technological leadership in the quantum era.”

See Also: These Analysts Cut Their Forecasts On Nike Following Q3 Results

LAES Price Action: At the time of writing, SEALSQ stock is trading 3.71% lower at $2.985, according to data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.