SEALSQ Posts 9M 2026 Revenue of $16.3M, Up 65% YoY; Reaffirms FY Guidance of $27M-$36M
LAES is trading near its 52-week low of $1.77 (4.0% above the low) on light trading volume (0.2× avg).
Summary
SEALSQ reported preliminary 9M 2026 revenue of $16.3 million, up 65% year-on-year, reaffirmed FY 2026 guidance of $27 million to $36 million, and held roughly $463 million in cash. The implied Q4 range of $11 million to $20 million hinges on VaultIC408 and QVault TPM shipments clearing customer qualification.
Key Events · Earnings and Guidance · LAES
-
9M 2026 Revenue Up 65% YoY
Preliminary unaudited revenue of $16.3 million for the nine months ended September 30, 2026, versus $9.9 million in 9M 2025, with growth in each quarter of 2026.
-
FY 2026 Guidance Reaffirmed
Full-year 2026 revenue guidance held at $27 million to $36 million (roughly 50% to 100% growth over FY 2025 revenue of $18 million), implying Q4 2026 revenue of $11 million to $20 million versus $8.4 million in Q4 2025.
-
Cash Position of ~$463 Million
Cash, cash equivalents and restricted cash of approximately $463.0 million at September 30, 2026, funding post-quantum product development and commercialization.
-
Pipeline Above $200 Million Through 2029
Management estimates an active business pipeline of more than $200 million through 2029, including more than $100 million tied to post-quantum projects; these are estimates subject to conversion, customer validation and technical-integration risk.
Analysis · LAES · Manufacturing
Nine-month revenue of $16.3 million is up 65% from $9.9 million a year earlier, and full-year 2026 guidance was reaffirmed at $27 million to $36 million. That implies Q4 revenue of $11 million to $20 million, against $8.4 million in Q4 2025 — a steep sequential step-up that depends on the FIPS-validated VaultIC408 ramping into government and critical-infrastructure programs and on first QVault TPM183 design-win shipments clearing customer qualification. The balance sheet is the cushion: roughly $463 million in cash and restricted cash at September 30 means the post-quantum product lines can be funded through 2027 without a near-term raise, which matters for a stock trading near its 52-week low. The pipeline figure — more than $200 million through 2029, over $100 million of it post-quantum — is management's estimate and carries explicit conversion and technical-integration risk, so it is not contracted revenue. The main tension is timing: QS7001's full Common Criteria report is not targeted until January 2027 and formal EAL5+ certification in 2027, so the post-quantum revenue contribution is a 2027 story, not a Q4 one.
How filings like this one have moved
In the 30 days to Oct 16, 2026, 29.4% of the 1487 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.39%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LAES was trading at $1.84 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $424.9M. The 52-week trading range was $1.77 to $7.75. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.