WISeKey Report: Demand for Cybersecurity and IoT Solutions Skyrocketing

WISeKey, a Switzerland-based blockchain, artificial intelligence (AI) and internet of things (IoT) company, has released the Fiscal Year (FY) 2022 Revenue Guidance. While the blockchain firm confirmed that they expect to book profits, they went on to show that the demand for cybersecurity and IoT solutions is on the rise.

WISeKey FY 2022 Report 

While the crypto winter of 2022 may have succeeded in wiping out the fortunes of several players in the blockchain space, with several experts in the traditional finance space forecasting that the world is on the verge of witnessing another recession, WISeKey, a leading Swiss cybersecurity, blockchain, and IoT company is seeing nothing but a bullish 2022.

In its FY 2022 Revenue Guidance, WISeKey revealed its expectations for 2022 and its outlook and growth opportunities for 2023. 

WISeKey CEO & Founder, Carlos Moreira has made it clear that demand for the company’s cybersecurity and IoT solutions have surged significantly this year.

In his words:

“We continue to see solid demand for our cybersecurity and IoT technologies and our digital transformation is progressing well. While the current geopolitical and macroeconomic climate has impacted many in our industry in 2022, WISeKey was not significantly affected. The fundamental drivers across our business are strong, and our semiconductors order growth is accelerating, countering concerns about a short-term slowdown in our industry.”

WISeKey Expects More Revenue Growth

Moreira further noted that the company expects its total revenue for the fiscal year 2022 to exceed $24.5 million, representing a 10 percent increase as compared to the $22.3 million it generated in 2021. 

Moreira added:

“Also, we expect our revenue to continue growing in 2023, driven by a projected sales growth for the IoT segment of at least 35 percent. We believe that due to our large backlog of $37 million which we expect to deliver within the next 48 months, our $100 million pipeline of opportunities, and the significant investment we made in expanding our salesforce, we are well-positioned to continue to gain market share and expand our geographic footprint.”

What’s more, the team expects several of its revenue streams, including its newly commercialized WISeSat PocketQube satellite product, to contribute immensely to its revenue growth for 2023.

Though non-fungible tokens (NFTs) trading volumes have crashed significantly this year, the NFT and metaverse trends remain hot and WISeKey is aiming to get its fair share of the pie with its digital collectibles arm dubbed the WISe.ART NFT platform. 

The WISe.ART NFT platform is secured by WISeKey’s security solutions, offering users of the NFT marketplace end-to-end authentication of digital identity-based NFTs, digital assets, physical objects, and more.

WISeKey claims nearly 130 artists have already joined the WISe.ART NFT marketplace, with about 500 unique NFT products now live on the platform, “adding a commercial NFT sales potential aggregate of $70 million worth of NFTs” to the WISeKey ecosystem.

In related news, earlier in March, WISeKey joined forces with Hollywood actor & entrepreneur Brooke Shields, Make International, and Casper Association, to unveil the world’s first NFT minted from space on the Casper blockchain.