SEALSQ Corp 6-K, filed Mar 22, 2024

SEALSQ Corp (LAES)

6-K 2024-03-22 For: 2024-03-22

View Original

Added on April 12, 2026

About this 6-K

SEALSQ Corp filed this 6-K on March 22, 2024.

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →

Exhibit No.		Description

99.1		Press release of SEALSQ Corp, issued on March 21, 2024.

Date: March 22, 2024	SEALSQ CORP

	By:	/s/ Carlos Moreira
		Name: Carlos Moreira
		Title: Chief Executive Officer

	By:	/s/ John O’Hara
		Name: John O’Hara
		Title: Chief Financial Officer

	12 months ended December 31,
USD'000, except earnings per share	2023	2022	2021

Net sales	30,058	23,198	16,995
Cost of sales	(15,589)	(13,267)	(9,547)
Depreciation of production assets	(420)	(132)	(301)
Gross profit	14,049	9,799	7,147

Other operating income	48	2,007	91
Research & development expenses	(3,946)	(2,308)	(3,050)
Selling & marketing expenses	(5,648)	(3,824)	(4,245)
General & administrative expenses	(8,644)	(3,091)	(4,984)
Total operating expenses	(18,190)	(7,216)	(12,188)
Operating (loss) / income	(4,141)	2,583	(5,041)

Non-operating income	2,442	935	483
Interest and amortization of debt discount	(689)	(355)	(167)
Non-operating expenses	(655)	(638)	(96)
(Loss) / income before income tax expense	(3,043)	2,525	(4,821)

Income tax (expense) / income	(225)	3,245	(6)
Net (loss) / income	(3,268)	5,770	(4,827)

Earnings per ordinary share (USD)
Basic	(0.21)	0.41	(0.34)
Diluted	(0.21)	0.41	(0.34)

Earnings per F share (USD)
Basic	(1.07)	2.04	(1.71)
Diluted	(1.07)	2.04	(1.71)

Other comprehensive income / (loss), net of tax:
Foreign currency translation adjustments	(2)	(15)	(8)
Defined benefit pension plans:
Net gain / (loss) arising during period	11	170	142
Other comprehensive income / (loss)	9	155	134
Comprehensive (loss) / income	(3,259)	5,925	(4,693)

	As at December 31,	As at December 31,
USD'000, except par value	2023	2022
ASSETS
Current assets
Cash and cash equivalents	6,895	4,057
Accounts receivable, net of allowance for doubtful accounts	5,053	2,219
Inventories	5,231	7,510
Prepaid expenses	605	394
Government assistance	1,718	692
Other current assets	765	1,252
Total current assets	20,267	16,124

Noncurrent assets
Deferred income tax assets	3,077	3,296
Property, plant and equipment, net of accumulated depreciation	3,230	782
Intangible assets, net of accumulated amortization	-	1
Operating lease right-of-use assets	1,278	1,379
Other noncurrent assets	83	77
Total noncurrent assets	7,668	5,535
TOTAL ASSETS	27,935	21,659

LIABILITIES
Current Liabilities
Accounts payable	6,963	6,735
Indebtedness to related parties, current	1,278	3,374
Current portion of obligations under operating lease liabilities	336	324
Income tax payable	2	47
Other current liabilities	138	148
Total current liabilities	8,717	10,628

Noncurrent liabilities
Bonds, mortgages and other long-term debt	1,654	1,489
Convertible note payable, noncurrent	1,519	-
Indebtedness to related parties, noncurrent	9,695	7,946
Operating lease liabilities, noncurrent	893	988
Employee benefit plan obligation	426	396
Total noncurrent liabilities	14,187	10,819
TOTAL LIABILITIES	22,904	21,447

Commitments and contingent liabilities

SHAREHOLDERS' EQUITY
Common stock - Ordinary shares	154	75
Par value - USD 0.01
Authorized - 200,000,000 and 200,000,000
Issued and outstanding - 15,446,807 and 7,501,400
Common stock - F shares	75	75
Par value - USD 0.05
Authorized - 10,000,000 and 10,000,000
Issued and outstanding - 1,499,700 and 1,499,700
Additional paid-in capital	24,730	16,731
Accumulated other comprehensive income / (loss)	784	775
Accumulated deficit	(20,712)	(17,444)
Total shareholders' equity	5,031	212
TOTAL LIABILITIES AND EQUITY	27,935	21,659