SEALSQ Corp. ( LAES ) shares are trading lower on Friday after the company reported worse-than-expected 2024 fiscal-year financial results on Thursday after the market closed.

What To Know: The company reported a loss of 60 cents per share, compared to a loss of 21 cents per share in the 2023 fiscal-year. In addition, the company reported sales of $10.98 million, beating analysts’ estimate of $7.40 million, but marking a significant decrease from $30.05 million in sales for the 2023 fiscal-year.

SEALSQ ( LAES ) attributed the revenue drop to its shift from traditional semiconductors to next-gen quantum-resistant chips, the early stage of the post-quantum market potential and market normalization following COVID-19-related supply chain disruptions.

Although the company did not offer specific guidance, it anticipates a significant revenue increase for the 2025 fiscal-year compared to 2024. SEALSQ ( LAES ) expects this growth to be driven by new chip revenue sources, expanded chip personalization services and consolidated revenue from planned investments.

Carlos Moreira, CEO of SEALSQ ( LAES ), said, “With a strong cash position, no bank debt or convertible loans, and accelerating demand for our post-quantum and quantum cybersecurity solutions, we are well-positioned to drive sustainable long-term growth and technological leadership in the quantum era.”

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LAES Price Action: At the time of writing, SEALSQ ( LAES ) stock is trading 3.71% lower at $2.985, according to data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.