v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 479,797 $ 417,657
Restricted cash, current 6,311
Accounts receivable, net of allowance for doubtful accounts 21,706 12,944
Inventories 2,101 2,012
Prepaid expenses 1,440 880
Investment, current 2,449 10,032
Government assistance 6,613 4,579
Other current assets 1,392 1,534
Total current assets 521,809 449,638
Noncurrent assets    
Loans receivable, noncurrent 31
Deferred tax credits 4,479 2,295
Property, plant and equipment, net of accumulated depreciation 5,014 3,770
Intangible and crypto assets, net of accumulated amortization 30,405 20,953
Operating lease right-of-use assets 5,874 6,113
Finance lease right-of-use assets 87 126
Goodwill 11,695 5,656
Available-for-sale debt securities, noncurrent 128 129
Investments in unconsolidated related party affiliates 9,617 9,958
Other investments 24,454 1,000
Other noncurrent assets 243 251
Total noncurrent assets 92,832 54,541
TOTAL ASSETS 614,641 504,179
Current Liabilities    
Accounts payable 23,850 16,818
Notes payable 555 689
Deferred revenue, current 1,010 25
Current portion of obligations under operating lease liabilities 583 668
Current portion of obligations under finance lease liabilities 35 57
Income tax payable 3
Other current liabilities 10,126 9,988
Total current liabilities 36,159 28,248
Noncurrent liabilities    
Bonds, mortgages and other long-term debt 696 989
Deferred Revenue 1,064
Operating lease liabilities, noncurrent 5,216 5,523
Finance lease liabilities, noncurrent 55 72
Deferred tax liability 5,805 4,367
Employee benefit plan obligation 2,630 2,162
Other noncurrent liabilities 877 1,310
Total noncurrent liabilities 16,343 14,423
TOTAL LIABILITIES 52,502 42,671
Commitments and contingent liabilities
SHAREHOLDERS’ EQUITY    
Additional paid-in capital 655,724 534,773
Accumulated other comprehensive income / (loss) 468 852
Accumulated deficit (103,819) (76,107)
Total shareholders’ equity attributable to SEALSQ Corp’s shareholders 554,682 461,508
Noncontrolling interest in consolidated subsidiaries 7,457
Total shareholders’ equity 562,139 461,508
TOTAL LIABILITIES AND EQUITY 614,641 504,179
Ordinary shares    
SHAREHOLDERS’ EQUITY    
Common stock, value 2,234 1,915
Total shareholders’ equity 2,309 1,990
F shares    
SHAREHOLDERS’ EQUITY    
Common stock, value 75 75
Non-related party    
Noncurrent assets    
Investments in unconsolidated affiliates $ 836 $ 4,259