2017 was an important building year for WISeKey. Our revenues increased ~292% year-over-year due to the successful integration of the IoT and Cybersecurity assets into the Company. Growth was driven by higher revenues from the Cybersecurity, IoT and Semiconductor business segments for new sectors requiring strong security on their semiconductors such as smart car, luxury, pharmaceutical and fintech industries.
During the year, we achieved strong liquidity and financial position; improved operating performance resulted in cash of $12.2 million at December 31, 2017, up $7.0 million from December 31, 2016.
Strong Revenue Growth
WISeKey total revenue … $43.1M … Up ~ 292% vs FY 2016