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 reportable segment and by product or service type:

 

Disaggregation of revenue
(unaudited)		   Typical  

At a point in time
6 months ended

June 30,

    

Over time
6 months ended

June 30,

    

Total
6 months ended

June 30,

  
USD’000   payment   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 segments         20       126       307       342       327       468  
Total Revenue         8,600       4,944       2,834       349       11,434       5,293  
Schedule of Disaggregated by Geography Areas

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

 

Revenue by region   Unaudited 6 months ended
June 30,		  
USD’000   2026     2025  
Semiconductors segment            
Switzerland     355       169  
Rest of EMEA     1,413       683  
North America     4,953       3,083  
Asia Pacific     1,882       795  
Latin America     -       95  
Total Semiconductors segment     8,603       4,825  
ASIC segment                
Switzerland     111       -  
Europe, Middle East and Africa     1,782       -  
North America     607       -  
Asia Pacific     4       -  
Total ASIC segment     2,504       -  
Total Non-reportable segments     327       468  
Total net sales     11,434       5,293  
Schedule of Contract Assets Deferred Revenue and Contract Liability

Contract assets, deferred revenue and contract liability consisted of the following:

 

    As of
June 30,
2026		     As of
December 31,		  
USD’000   (unaudited)     2025  
Trade accounts receivables            
Trade accounts receivable - Semiconductors segment     3,518       3,282  
Trade accounts receivable - ASIC segment     1,405       986  
Trade accounts receivable – Non-reportable segments     743       599  
Total trade accounts receivables     5,666       4,867  
Contract assets - ASIC segment     -       451  
Contract assets – Non-reportable segments     -       16  
Total contract assets     -       467  
Customer contract liabilities – Semiconductors segment     1,184       4  
Customer contract liabilities – ASIC segment     328       1,596  
Customer contract liabilities – Non-reportable segments     125       173  
Total contract liabilities     1,637       1,773  
Deferred revenue                
Deferred revenue - Semiconductors segment     36       21  
Deferred revenue - ASIC segment     1,756       4  
Deferred revenue - Non-reportable segments     363       81  
Total deferred revenue     2,155       106  
Revenue recognized in the period from amounts included in the deferred revenue at the beginning of the year     43       79  
Schedule of Estimated Revenue from Remaining Performance Obligations The Group expects to recognize this revenue in 2026, 2027 and 2028, as follows:

 

Estimated revenue from remaining performance obligations
as of June 30, 2026 (USD’000)		   Total  
2026     2,700  
2027     264  
2028     828  
Total remaining performance obligation     3,792