v3.26.3
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Intersegment Sales and Transfers

The Group accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current market prices.

Unaudited 6 months ended June 30,  2026   2025 
USD’000  Semiconductors   ASIC   Total   Semiconductors   ASIC   Total 
Revenues from external customers   8,603    2,504    11,107    4,825    
-
    4,825 
Intersegment revenues        1,302    1,302    
-
    
-
    
-
 
    8,603    3,806    12,409    4,825    
-
    4,825 
                               
Reconciliation of revenue                              
Elimination of intersegment revenue        (1,302)   (1,302)             
-
 
Other revenue2             44                
Total consolidated revenue             11,151              4,825 
                               
Less:1                              
Cost of revenue   4,910    821    5,731    3,199    
-
    3,199 
Segment gross profit   3,693    1,683    5,376    1,626    
-
    1,626 
                               
Less:1                              
Total operating expenses   11,113    6,612    17,725    7,328    
-
    7,328 
Other segment items (gain) / loss   (129)   517    388    691    
-
    691 
Segment profit / (loss) before income taxes   (7,291)   (5,446)   (12,737)   (6,393)   
-
    (6,393)
                               
Reconciliation of profit or loss (segment profit/(loss))                              
Other profit or loss2             (14,895)             (13,635)
Elimination of intersegment profits             (62)             
-
 
Income / (loss) before income taxes             (27,694)             (20,028)
                               
Other segment disclosures                              
Interest revenue   
-
    
-
    
-
    7    
-
    7 
Interest expense   358    35    393    7    
-
    7 
Depreciation and amortization   421    2,238    2,659    313    
-
    313 
Profit / (loss) from intersegment sales   
-
    62    62    
-
    
-
    
-
 
Income tax recovery / (expense)   
-
    295    295    
-
    
-
    
-
 
Segment assets   21,418    29,399    50,817    13,233         13,233 

 

(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.

 

(2)Profit or loss from segments below the quantitative thresholds are attributable to four operating segments that include the sales and distribution of semiconductors, and the newly acquired Wecan and Miraex. None of those segments has ever met any of the quantitative thresholds for determining reportable segments. It also includes the holding company SEALSQ Corp, that does not meet the definitions of a reportable segment.
Schedule of Asset Reconciliation

Other segment items for each reportable segment are made up of non-operating expenses, including management expenses, foreign exchanges gains and losses, debt discount amortization and financing costs.

 

Asset reconciliation  Unaudited
6 months ended June 30,		 
USD’000  2026   2025 
Total assets from reportable segments   50,817    13,233 
Other assets1   654,619    162,549 
Elimination of intersegment receivables   (45,798)   (14,430)
Elimination of intersegment investment and goodwill   (44,997)   (19,332)
Consolidated total assets   614,641    142,020 

 

(1)Assets from segments below the quantitative thresholds are attributable to operating activities including semiconductor sales and distribution, as well as the newly acquired Wecan and Miraex. None of these individual segments met the quantitative thresholds for reportable segments during the period. Most of Other assets refers to SEALSQ Corp, as the holding is currently excluded from the reportable segments and consists mostly of cash.
Schedule of Property Plant and Equipment

The following tables summarize geographic information for net sales based on the billing address of the customer, and for property, plant and equipment.

 

Net sales by region  Unaudited
6 months ended June 30,		 
USD’000  2026   2025 
North America   5,560    3,083 
Europe, Middle East & Africa   3,705    852 
Asia Pacific   1,886    795 
Latin America   
-
    95 
Total net sales   11,151    4,825 

 

Property, plant and equipment, net of depreciation, by region
USD’000		  As of
June 30,
2026
(unaudited)		   As of
December 31,
2025		 
Europe, Middle East & Africa   5,014    3,770 
Total Property, plant and equipment, net of depreciation   5,014    3,770