Why Are WISeKey (WKEY) Shares Trading Higher Today - WISeKey Intl Holding (NASDAQ:WKEY)

Swiss cybersecurity, AI, and IoT company WISeKey International Holding AG WKEY shared its preliminary revenues for the year ended December 31, 2022.
WISeKey's FY22 revenue rose by 15% year-on-year to $25.6 million.
Higher revenues from its semiconductors segment drove the increase.
Also Read: WISeKey Shares Optimistic Revenue Guidance for FY22, FY23 Driven By Cybersecurity, IoT
Semiconductor revenues increased by 38% Y/Y to $23.2 million.
Carlos Moreira, WISeKey's Founder and CEO, noted, "Since the beginning of 2021, demand for our IoT semiconductor products has been unprecedented and has reached a point that we are now sitting on a solid backlog of purchase orders totaling $36 million."
Moreira continued, "Our strong backlog has given us a great building block that allows our sales team to focus on new opportunities to expand our customer base and geographic footprint. As a result, we expect to see a significant increase in the number of customers served by WISeKey in this sector by 2023 / 2024."
Price Action: WKEY shares traded higher by 11.85% at $2.36 in the premarket on the last check Friday.
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WISeKey Clocks 15% Preliminary Revenue Growth In FY22