SEALSQ enterprise-value bridge: market cap, cash, debt, and resulting enterprise value in USD millions
0
100
200
300
400
500
515.6
−417.7
+42.7
140.6
Market cap
Cash & equivalents
Total debt
Enterprise value
cash ≈ 81% of market cap
Enterprise value = market cap − cash + debt. Market cap reflects current pricing; the cash balance is as of the end‑2025 balance sheet (standard basis approximation).