v3.26.3
Revenue (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue [Abstract]  
Schedule of Disaggregation of Revenue

The following table shows the Group’s revenues disaggregated by product or service type:

 

Disaggregation of revenue  Typical payment  At a point in time   Over time   Total 
      Unaudited 6 months ended June 30,     
USD’000     2026   2025   2026   2025   2026   2025 
Semiconductors Segment                           
Secure chips  Upon delivery   8,436    4,710         
-
    8,436    4,710 
Certificates  Upon issuance   140    108    27    7    167    115 
Total Semiconductors Segment      8,576    4,818    27    7    8,603    4,825 
ASIC Segment                                 
ASIC Design  Milestone based   
-
    
-
    2,500    
-
    2,500    
-
 
ASIC Production  Upon delivery   4    
-
    
-
    
-
    4    
-
 
Total ASIC Segment      4    
-
    2,500    
-
    2,504    
-
 
Total Non-reportable Segment      20    
-
    24    
-
    44    
-
 
Total Revenue      8,600    4,818    2,551    7    11,151    4,825 
Schedule of Disaggregation of Revenue by Geographic Areas

The following table shows the Group’s revenues disaggregated by geography, based on our customers’ billing addresses:

 

Net sales by region  Unaudited
6 months ended
June 30,		 
USD’000  2026   2025 
Semiconductors Segment          
Europe, Middle East and Africa   1,768    852 
North America   4,953    3,083 
Asia Pacific   1,882    795 
Latin America   
-
    95 
Total Semiconductors Segment revenue   8,603    4,825 
ASIC Segment          
Europe, Middle East and Africa   1,893    
-
 
North America   607    
-
 
Asia Pacific   4    
-
 
Total ASIC Segment revenue   2,504    
-
 
Total Non-reportable Segment revenue   44    
-
 
Total net sales   11,151    4,825 
Schedule of contract assets, deferred revenue and contract liability

Our contract assets, deferred revenue and contract liability consist of:

 

USD’000  As of
June 30,
2026
(unaudited)		   As of
December 31,
2025		 
Trade accounts receivable        
Trade accounts receivable – Semiconductors Segment   3,518    3,283 
Trade accounts receivable – ASIC Segment   1,405    986 
Trade accounts receivable – Non reportable Segment   42      
Total trade accounts receivable, net of allowance for credit losses   4,965    4,269 
Contract assets – ASIC Segment   
-
    451 
Total contract assets   
-
    451 
Customer contract liabilities – Semiconductors Segment   1,184    4 
Customer contract liabilities – ASIC Segment   328    1,596 
Total customer contract liabilities - current   1,512    1,600 
Deferred revenue          
Deferred revenue – Semiconductors Segment   36    21 
Deferred revenue – ASIC Segment   1,756    4 
Deferred revenue – Non reportable Segment   281      
Total deferred revenue   2,073    25 
Revenue recognized in the period from amounts included in the deferred revenue at the beginning of the period   4    5 
Schedule of Remaining Performance Obligations We expect to recognize revenue for these remaining performance obligations in 2026, 2027 and 2028 as detailed below.
USD’000  Total 
2026   2,527 
2027   230 
2028   828 
Total remaining performance obligation   3,585