That year, the firm won major contracts with semiconductor and networking customers, including multi-year deals with unnamed multi-billion-dollar US companies. However, its annual loss widened to £11.04m as the post-quantum cryptography specialist expanded its workforce and invested in product development. Its team helps shape official international post-quantum cryptography standards, including work with the National Institute of Standards and Technology. Among the contracts it has include with Lockheed Martin, to provide post-quantum solutions for global defence and aerospace. PQShield is officially designated as an Assured Cyber Security Consultancy provider for PQC by the UK's National Cyber Security Centre.