WISeKey International Holding AG (WKEY) Income Statement
WKEY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWKEY revenue and net income
Where WKEY's revenue goes
2025Each bar shows an amount and its share of revenue. WKEY kept −31.5% of revenue as net income.
WKEY profit margins
WKEY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +62.4% | −6.0% | +5.5% | +23.8% |
| Gross profit | +115.2% | −1.9% | +11.1% | +20.2% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WKEY quarterly EPS vs estimates
WISeKey International beat the analyst EPS estimate in 5 of the last 6 quarters.
WKEY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.3M | $11.9M | $30.9M | $23.2M | $22.3M | $14.8M | $22.7M | $34.3M | $43.1M | $11.0M |
| Cost of revenue | $10.1M | $7.6M | $16.2M | $13.4M | $13.2M | $9.3M | $13.2M | $18.3M | $22.4M | $6.5M |
| Gross profit | $9.2M | $4.3M | $14.7M | $9.8M | $9.1M | $5.5M | $9.5M | $16.0M | $20.7M | $4.4M |
| Research & development | $14.9M | $7.0M | $4.4M | $2.3M | $7.0M | $6.0M | $6.4M | $5.3M | $7.4M | $1.4M |
| Sales, general & admin | $42.3M | $24.9M | $23.8M | $3.1M | $29.0M | $18.0M | $23.7M | $20.0M | $22.1M | $39.3M |
| Total operating expenses | $56.9M | $31.7M | $28.0M | $7.2M | $35.8M | $24.0M | $30.0M | $25.0M | $34.2M | $40.7M |
| Operating income | −$47.7M | −$27.4M | −$13.3M | $2.6M | −$26.7M | −$18.5M | −$20.5M | −$9.1M | −$13.5M | −$36.2M |
| Interest income | $6.1M | $174,000 | $90,000 | $5,000 | $9,000 | $16,000 | $1.8M | $0 | $2,000 | $29,361 |
| Interest expense | $224,000 | $2.2M | $1.3M | $789,000 | $2.1M | $1.2M | $1.7M | $394,000 | $1.7M | $1.5M |
| Income before taxes | −$38.3M | −$28.9M | −$15.2M | $2.5M | −$24.2M | −$28.9M | −$23.0M | −$9.9M | −$25.8M | −$36.5M |
| Income taxes | −$163,000 | $3.1M | $230,000 | −$3.2M | −$93,000 | $9,000 | $13,000 | $53,000 | −$1.0M | −$16,081 |
| Net income | −$6.1M | −$13.4M | −$15.4M | $5.8M | −$24.1M | −$28.9M | −$23.0M | −$16.3M | −$24.3M | −$35.9M |
| EBITDA | −$37.7M | −$26.3M | −$13.3M | −$12.0M | −$20.4M | −$27.7M | −$20.5M | −$6.0M | −$5.9M | −$35.0M |
| EPS (diluted) | −$2.19 | −$0.88 | −$5.38 | $0.04 | −$0.20 | −$0.58 | −$1.16 | −$2.51 | −$1.21 | −$0.97 |
| Gross margin | 47.9% | 36.2% | 47.7% | 42.2% | 40.8% | 37.0% | 41.7% | 46.6% | 48.0% | 40.4% |
| Operating margin | −247.3% | −230.9% | −43.0% | 11.1% | −119.9% | −125.4% | −90.5% | −26.4% | −31.4% | −330.1% |
| Net margin | −31.5% | −113.2% | −49.7% | 24.9% | −108.2% | −195.6% | −101.7% | −47.5% | −56.3% | −327.7% |
| Sep '26 | Jun '26 | Mar '26 | Jun '25 | Mar '25 | Jun '24 | Mar '24 | Dec '23 | Jun '23 | Mar '23 | Sep '22 | Jun '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.2M | $11.2M | $14.0M | $5.3M | $6.6M | $5.2M | $15.7M | $15.7M | $15.1M | $13.1M | $6.5M | $10.7M |
| Cost of revenue | $5.8M | $5.8M | $8.4M | $3.5M | $3.6M | $3.8M | $4.4M | $8.9M | $7.1M | $8.1M | $3.6M | $6.1M |
| Gross profit | $5.4M | $5.4M | $5.6M | $1.9M | $3.0M | $1.3M | $11.2M | $6.8M | $8.0M | $5.0M | $2.8M | $4.6M |
| Research & development | $8.7M | $8.7M | $9.1M | $5.9M | $4.0M | $2.9M | $1.1M | — | $2.2M | $2.2M | $1.1M | $1.7M |
| Sales, general & admin | — | — | $1.4M | $23.7M | $12.2M | $12.5M | $6.0M | — | $11.8M | $10.1M | $4.4M | $9.5M |
| Total operating expenses | $39.1M | $39.1M | $26.1M | $29.6M | $16.2M | $15.5M | $7.2M | −$4 | $13.9M | $12.3M | $5.9M | $11.2M |
| Operating income | −$33.7M | −$33.7M | −$20.5M | −$27.7M | −$13.2M | −$14.1M | −$3.7M | $6.8M | −$5.9M | −$7.2M | −$2.6M | −$6.6M |
| Interest expense | $289,625 | $1,002 | $238,707 | $335,396 | $1.1M | $1.1M | $1.2M | — | $377,000 | $295,167 | — | $498,284 |
| Income before taxes | −$28.2M | −$28.2M | −$16.0M | −$22.5M | −$14.6M | −$14.1M | −$8.9M | — | −$6.8M | −$4.9M | −$3.2M | −$6.5M |
| Income taxes | −$302,653 | −$302,653 | −$163,799 | $1,010 | $1.8M | $1.3M | $46,000 | — | $322,000 | −$3.3M | $1.6M | $988 |
| Net income | −$27.8M | −$27.8M | −$1.6M | −$4.5M | −$3.9M | −$18.7M | −$8.8M | — | −$7.0M | −$3.1M | −$1.5M | −$9.3M |
| EBITDA | −$31.0M | −$31.0M | −$18.6M | −$27.3M | −$13.1M | −$13.7M | −$7.1M | $6.8M | −$5.7M | −$5.6M | −$2.4M | −$6.7M |
| EPS (diluted) | — | — | — | −$1.06 | −$1.13 | — | — | — | $0.00 | −$0.03 | −$0.04 | −$0.05 |
| Gross margin | 48.5% | 48.5% | 40.0% | 35.5% | 45.8% | 25.9% | 71.8% | 43.4% | 52.9% | 38.3% | 43.9% | 42.9% |
| Operating margin | −301.3% | −301.3% | −146.6% | −517.6% | −198.4% | −273.2% | −23.7% | 43.4% | −39.1% | −55.1% | −39.4% | −61.2% |
| Net margin | −248.5% | −248.5% | −11.6% | −84.1% | −59.3% | −362.2% | −56.4% | — | −46.1% | −23.8% | −23.8% | −86.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WKEY's financial statements (latest annual report filed April 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WKEY financial results
In fiscal year 2025 (ended December 31, 2025), WISeKey International reported revenue of $19.3 million, up 62.4% from the year before. It had a net loss of $6.1 million, a net profit margin of −31.5%. Diluted earnings per share came to −$2.19. Over five years revenue grew at an average rate of 5.5% a year.
See the WKEY stock overview for the latest quote and news, or the WKEY chart for price history and technical indicators.
WKEY income statement FAQ
What is WISeKey International's annual revenue?
WISeKey International reported total revenue of $19.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 62.4% from $11.9 million the previous year.
Is WISeKey International profitable?
No. WISeKey International reported a net loss of $6.1 million in fiscal 2025, a net profit margin of −31.5%; its operating margin was −247.3%.
What is WISeKey International's gross margin?
WISeKey International's gross margin was 47.9% in fiscal 2025: for every $100 of revenue, WISeKey International kept $48 after the direct cost of its products and services.
How much does WISeKey International spend on research and development?
WISeKey International spent $14.9 million on research and development in fiscal 2025, 77.2% of revenue.
How fast is WISeKey International growing?
Revenue grew 5.5% a year on average over the last five fiscal years, from $14.8 million to $19.3 million.
What are WISeKey International's earnings per share?
WISeKey International earned $-2.19 per diluted share in fiscal 2025, compared with $-0.88 a year earlier.
When does WISeKey International's fiscal year end?
WISeKey International's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 30, 2026.