v3.26.3
Business Combination (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination [Abstract]  
Schedule of Total Consideration Acquisition-Date Fair Value

The form of consideration for the newly acquired interest was cash subscribed through capital increase. The preliminary acquisition-date fair value attributable to the acquisition consisted of the following components:

 

    USD’000  
Fair value of previously held equity interest     3,097  
Fair value of interest acquired through the June 2026 capital increase     6,423  
Total consideration attributable to SEALSQ     9,520  
Fair value of noncontrolling interests (“NCI”)     7,627  
Aggregate acquisition-date fair value, including NCI     17,147  
Schedule of Preliminary Allocation of the Acquisition-Date Fair Value

The following table summarizes the preliminary allocation of the acquisition-date fair value as of June 1, 2026:

 

    USD’000  
Restricted cash     6,527  
Technology     4,062  
Trademarks     1,248  
Cash and cash equivalents     455  
Prepaid expenses and other current assets     286  
Crypto assets     71  
Accounts receivable     66  
Total assets acquired, excluding goodwill     12,715  
Deferred income tax liability     (770 )
Other current liabilities     (398 )
Deferred revenue     (309 )
Employee benefit obligation     (295 )
Accounts payable     (5 )
Total liabilities assumed     (1,777 )
Net identifiable assets acquired     10,938  
Goodwill     6,209  
Aggregate acquisition-date fair value, including NCI     17,147  
Schedule of Estimated Useful Lives

The acquired technology and trademarks are being amortized on a straight-line basis over preliminary estimated useful lives of 15 years. The weighted-average useful life of the acquired identifiable intangible assets is approximately 15 years.

 

    USD’000  
Technology     4,062  
Trademarks     1,248  
Acquired identifiable intangible assets     5,310  
Schedule of Pro Forma Consolidated Financial Information

The following unaudited pro forma consolidated financial information presents the combined results of WISeKey and Wecan as if the acquisition had occurred on January 1, 2025:

 

    6 months ended June 30,  
USD’000   2026     2025  
Revenue     11,770       5,921  
Net income (loss)     (36,829 )     (23,527 )