SEALSQ is a fabless semiconductor company that designs and sells secure microcontrollers and provides related digital trust services. Its chips are embedded into connected devices — smart meters, routers, EV chargers, drones, medical devices, and consumer electronics — to authenticate those devices and enable secure communication by anchoring device identity at the hardware level. Secure chips are the primary revenue driver, accounting for roughly 78% of 2025 revenue. SEALSQ's newest product, the QS7001, is a post-quantum secure chip embedding NIST-standardized post-quantum cryptography algorithms directly in hardware, targeting IoT, defense, and critical infrastructure customers concerned about quantum computing threats. A companion post-quantum Trusted Platform Module, the QVault TPM, is scheduled for 2026. SEALSQ also offers ASIC design services (~20% of revenue) through its acquired subsidiary IC'Alps, which designs custom chips for healthcare, automotive, and aerospace customers. Trust services — cloud-based PKI certificate issuance and lifecycle management — account for a small but fast-growing share of revenue and operate on a recurring, subscription-based model. SEALSQ sells primarily to OEM device manufacturers and system integrators, with key customers including Cisco, Thales, Siemens, and Landis+Gyr, through both a direct sales force and distributors. The company argues that expensive, multi-year security certifications (Common Criteria EAL5+, FIPS 140-3) it has already obtained create a meaningful barrier to entry.