Financial Statements — WKEY
Balance Sheet
(in millions USD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 429.24 | 90.60 | 15.31 | 20.71 | 34.25 | 19.65 | 12.12 |
| Short-term Investments | 10.03 | -- | -- | -- | -- | -- | -- |
| Accounts Receivable | 5.11 | 4.29 | 5.47 | 2.57 | 3.26 | 2.90 | 3.77 |
| Inventory | 2.01 | 1.42 | 5.23 | 7.51 | 2.71 | 2.47 | 2.79 |
| Total Current Assets | 455.78 | 100.50 | 30.09 | 33.17 | 42.51 | 38.66 | 23.58 |
| Property, Plant & Equipment | 3.80 | 3.28 | 3.39 | 0.84 | 0.59 | 1.00 | 1.80 |
| Goodwill | 13.97 | 8.32 | 8.32 | 8.32 | 30.84 | 8.32 | 8.32 |
| Intangible Assets | 20.45 | 0.10 | 0.10 | 0.10 | 9.19 | 0.01 | 0.60 |
| Total Non-current Assets | 58.81 | 14.19 | 17.71 | 16.32 | 46.30 | 14.22 | 26.32 |
| Total Assets | 514.59 | 114.69 | 47.80 | 49.50 | 88.81 | 52.88 | 49.90 |
| Accounts Payable | 19.21 | 13.50 | 12.86 | 13.40 | 16.45 | 13.10 | 10.71 |
| Total Current Liabilities | 35.27 | 21.32 | 18.91 | 18.83 | 24.75 | 24.98 | 20.15 |
| Long-term Debt | 2.37 | -- | -- | -- | -- | -- | -- |
| Total Non-current Liabilities | 18.17 | 6.24 | 7.81 | 6.64 | 22.67 | 13.48 | 9.31 |
| Total Liabilities | 53.44 | 27.56 | 26.72 | 25.47 | 47.43 | 38.46 | 29.46 |
| Retained Earnings | (300.48) | (294.41) | (280.96) | (265.63) | (238.16) | (217.82) | (189.16) |
| Total Stockholder Equity | 45.92 | 25.05 | 26.68 | 26.26 | 35.90 | 16.27 | 22.02 |
Income Statement
(in millions USD) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 19.29 | 11.88 | 30.92 | 23.81 | 22.26 | 14.78 | 22.65 |
| Cost of Revenue* | 10.05 | 7.58 | 15.75 | 13.59 | 12.87 | 8.58 | 13.20 |
| Gross Profit | 9.24 | 4.29 | 14.74 | 10.09 | 9.09 | 5.47 | 9.46 |
| Research & Development | 14.88 | 7.03 | 4.40 | 3.86 | 7.01 | 6.01 | 6.42 |
| Selling, General & Admin | 27.88 | 16.32 | 17.29 | 11.47 | 18.73 | 10.67 | 15.79 |
| Total Operating Expenses | 56.93 | 31.72 | 28.04 | 20.53 | 35.78 | 24.00 | 29.96 |
| Operating Income | (47.69) | (27.42) | (13.30) | (10.44) | (26.69) | (18.53) | (20.50) |
| Interest Expense | -- | -- | -- | -- | -- | 0.72 | 0.72 |
| Pretax Income | (38.21) | (28.86) | (15.22) | (13.04) | (24.19) | (28.90) | (23.02) |
| Tax Provision | (0.16) | 3.09 | 0.23 | (3.24) | (0.09) | 0.01 | 0.01 |
| Net Income | (6.07) | (13.45) | (15.45) | (29.25) | (24.09) | (28.91) | 7.45 |
| Basic EPS | -- | -- | -- | (0.24) | (0.28) | (0.67) | 0.23 |
| Diluted EPS | -- | -- | -- | (0.24) | (0.28) | (0.67) | 0.23 |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | (32.36) | (17.77) | (14.21) | (17.14) | (21.79) | (12.55) | (13.89) |
| Capital Expenditures | 0.74 | 0.57 | 3.02 | 0.30 | 0.04 | 0.05 | 0.29 |
| Free Cash Flow* | (33.10) | (18.34) | (17.23) | (17.45) | (21.83) | (12.60) | (14.18) |
| Investing Cash Flow | (28.35) | 0.18 | (3.02) | (0.48) | (2.52) | (3.90) | 36.63 |
| Financing Cash Flow | 399.50 | 92.92 | 11.85 | 4.18 | 36.98 | 21.48 | (17.28) |
* Derived from reported values
