SEALSQ Corp (LAES) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	30.7M	18.3M	12.5M	33.4M	24.3M
Cost of Revenue	17.9M	9.6M	8.2M	17.8M	14.0M
Gross Profit	12.9M	8.6M	4.2M	15.6M	10.3M
Operating Expenses
R&D Expense	18.1M	12.5M	5.7M	4.4M	2.4M
SG&A Expense	57.1M	38.6M	18.5M	13.5M	7.2M
General & Admin Expense	—	25.8M	—	—	—
Selling & Marketing Expense	—	12.8M	—	—	—
Other Expenses	(2.6M)	(2.6M)	—	—	—
Total Operating Expenses	72.6M	48.4M	24.2M	17.9M	9.7M
Cost and Expenses	90.5M	58.1M	32.4M	35.7M	23.7M
Operating Income (EBIT)	(59.7M)	(39.8M)	(19.9M)	(2.2M)	603.1K
Non-Operating
Interest Income	6.9M	6.1M	798.3K	88.0K	9.0K
Interest Expense	2.3M	223.0K	2.1M	987.0K	605.0K
Net Interest Income	4.6M	5.9M	(1.3M)	(903.0K)	(597.0K)
Other Non-Op Income/Expense	4.8M	5.4M	(642.7K)	(1.2M)	2.0M
Non-Operating Income (excl Interest)	(11.0M)	(5.8M)	(1.4M)	175.9K	(2.6M)
EBT (Pre-Tax Income)	(54.9M)	(34.4M)	(20.6M)	(3.4M)	2.6M
Income Tax Expense	3.3M	(162.0K)	3.5M	250.4K	(3.4M)
Bottom Line
Net Income	(58.3M)	(34.2M)	(24.1M)	(3.6M)	6.0M
Earnings from Cont. Ops	(58.3M)	(34.2M)	(24.1M)	(3.6M)	6.0M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(58.3M)	(34.2M)	(24.1M)	(3.6M)	6.0M
Per Share
Basic EPS	($1.37)	($0.24)	($0.68)	($0.21)	$0.38
Diluted EPS	($1.37)	($0.24)	($0.68)	($0.21)	$0.38
Revenue Per Share	$0.23	$0.14	$0.35	$2.19	$1.61
Shares
Basic Shares Outstanding	135.0M	135.0M	35.2M	15.3M	15.1M
Diluted Shares Outstanding	135.0M	135.0M	35.2M	15.3M	15.1M
Profitability Metrics
EBITDA	(47.9M)	(33.8M)	(17.8M)	(1.8M)	3.7M
D&A	906.7K	191.0K	715.4K	634.3K	427.2K
EBIT	(48.8M)	(34.0M)	(18.5M)	(2.4M)	3.2M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Dec 1, 2025