Yubico Ab · OMXSTO:YUBICO

Yubico Ab — Q2 2024 Earnings Presentation

15 slides from Yubico Ab's earnings presentation, Aug 15, 2024

  1. Slide 1: Making the internet safer for all

    Making the internet safer for all Yubico Yubico © 2024 Q2 report, 2024 © 2024

  2. Slide 2: Today's presenters

    Today’s presenters Mattias Danielsson Camilla Öberg Chief Executive Chief Financial Officer Officer © 2024 Yubico 2

  3. Slide 3: Yubico – A global authentication leader

    Yubico – A global authentication leader 4,500+ Business customers 30% + millions of consumers of Fortune 500 are customers +32m YubiKeys sold 400+ Employees SEK 2.1bn +80% 0 Net sales LTM Gross margin account Q2 2024 LTM Q2 2024 takeovers © 2024 Yubico

  4. Slide 4: YubiKey works with 1,000+ applications

    YubiKey works with 1 000+ applications Computer CMS Login Developer Remote & Encryption Access Tools & VPN Identity Online Access Services Mgmt Privileged Password Access Mgmt © 2024 Yubico 4

  5. Slide 5: Trusted brands trust Yubico

    Trusted brands trust Yubico © 2024 Yubico 5

  6. Slide 6: Scaling with existing customers

    Scaling with existing customers Continuously landing new key accounts… …and expanding with current accounts …while diversifying across verticals 2.3x +119% 28% Avg. annual repurchase 12% rate 2018-23 2018 2023 2018 2023 2018 2023 Presence among G2000 companies Bookings in 2018 and 2023 from the Book

  7. Slide 7: Highlights from the quarter

    Highlights from the quarter Events in the quarter Strong order bookings: Recognition: - 66% Order Bookings growth, across a wide set of - Yubico included on Time Magazine’s 100 Most geographies, industries and customers. Continued influential companies growth in financial industry and among G2000 Ev

  8. Slide 8: Q2 2024 – Quarterly summary

    Q2 2024 – Quarterly summary Bookings & Net sales (Perpetual Gross profit (SEKm) Adj EBIT (SEKm) and Subscription and Subscription) and margin (%) margin (%) Booking (SEKm) (SEKm) 35.9% 34.4% 65.5% 36.3% 614 131 673 493 60 142 451 97 363 406 59 60 80.3% 21.3% 555 80.5% 21.6% 530 392 346 © 2024 Yubico

  9. Slide 9: Bookings and subscription bookings

    Bookings and subscription bookings Bookings and subscription bookings (SEKm) Comments ● Bookings growth of 65.5% in the quarter, to SEK 800 672.6 (406.4) million, growth of 62.8% in local 700 currencies 19% 600 21% ● Growth was driven by a diverse customer base, 500 18% 18% with the largest orders f

  10. Slide 10: Net sales and annual recurring revenue

    Net sales and annual recurring revenue Net sales, quarterly and 12-months rolling (SEKm) ARR1 (SEKm) 700 2,500 350 600 2,000 300 500 250 400 1,500 200 300 1,000 150 200 500 100 100 50 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 0 2022 2023 2024 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 Net sales LTM ● Net sales

  11. Slide 11: EBIT

    EBIT Adjusted EBIT, quarterly and 12-months rolling (SEKm) Comments ● Gross profit SEK 493.4 (363.0) million, 140 350 corresponding to a stable gross margin 120 300 of 80.3 percent (80.5) 100 250 80 200 ● EBIT SEK 130.8 (97.3) million, 60 150 corresponding to an EBIT margin of 40 100 21.3% (21.6). 2

  12. Slide 12: Cash flow and financial position

    Cash flow and financial position Comments Inventory and % of LTM net sales 700 ● Operating cash flow SEK 119.6 (93.4) million in Q2 30,2% 29,2% 600 27,4% ● Inventory continued to grow, but at a lower rate than 24,0% last year and Q1 2024 and shows reduction in 500 inventory to net sales ratio. Cashf

  13. Slide 13: Strongly positioned for continued growth

    Strongly positioned for continued growth • The critical importance and interest for cybersecurity continues to grow, with Yubico at the forefront of driving innovation • The financial sector remains a strong key driver of our growth partly driven by regulation • We see substantial growth in the EMEA

  14. Slide 14: Q&A

    © 2024 Yubico 14 Q&A

  15. Slide 15: Thanks

    © 2024 Yubico Thanks

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