Yubico Ab · OMXSTO:YUBICO

Yubico Ab — Q4 2023 Earnings Presentation

15 slides from Yubico Ab's earnings presentation, Feb 16, 2024

  1. Slide 1: Making the internet safer for all

    Making the internet safer for all Yubico Yubico © 2024 Q4 year -end report, 2023 © 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 +28m YubiKeys sold 400+ Employees SEK 1.8bn +86% 0 Net sales LTM Gross margin account Q4 2023 LTM Q4 2023 takeovers © 2024 Yubico

  4. Slide 4: Trusted brands trust Yubico

    Trusted brands trust Yubico © 2024 Yubico

  5. Slide 5: YubiKey works with 800+ applications

    YubiKey works with 800+ applications Computer CMS Login Developer Remote & Encryption Access Tools & VPN Identity Online Access Services Mgmt Privileged Password Access Mgmt © 2024 Yubico

  6. Slide 6: A year of change

    A year of change • Updates to management: o February 2023, Yubico’s co-founder Stina Ehrensvärd stepped down and Mattias Danielsson was appointed new CEO o June 2023, Ram Shriram, Yubico’s longtime chairman was succeeded by Patrik Tigerschiöld • Yubico went public through a merger with the spac ACQ

  7. Slide 7: Q4 2023 – Quarterly summary

    Q4 2023 – Quarterly summary Net sales (SEKm) Gross profit (SEKm) Adj EBIT (SEKm) and ● Subscription share of margin (%) net sales 19.5% (17.8% in local Q 14.0 (11.5)% YDT 13.8 (9.0)% curr.) 20.1% 31.0% 560 466 ● Gross margin 88 Q 83.2 (82.8)% YTD 85.6 (84.3)% 469 388 68 ● ARR1 SEK 286.5 (204.7) mill

  8. Slide 8: Bookings and subscription bookings

    Bookings and subscription bookings Bookings and subscription bookings (SEKm) Comments ● Bookings growth of 83.4%in the quarter, to SEK 684.1 (372.9) million, growth of 83.2% in local currencies ● Full year growth of 16.1%, to SEK 1,840.0 million ● Q4 strong growth in multiple industries and geograph

  9. Slide 9: Net sales and annual recurring revenue

    Net sales and annual recurring revenue Net sales, quarterly and 12-months rolling (SEKm) ARR1 (SEKm) ● Net sales increased 19.5% to SEK 559.9 (468.5) million, ● ARR increased 40.0% and amounted to SEK corresponding to an increase of 17.8% in local currencies 268.5 (204.7) million at the end of the p

  10. Slide 10: EBIT

    EBIT Adjusted EBIT, quarterly and 12-months rolling (SEKm) Comments ● Adjusted EBIT SEK 88.3 (67.5) million, corresponding to an adjusted EBIT margin of 15.8% (14.4) ● Gross margin 83.2% (82.8). Full year margin stable, 85.6% (84.3) ● Higher commission costs due to strong bookings and Q4 effects in

  11. Slide 11: Cash flow and financial position

    Cash flow and financial position Comments Inventory and % of net sales ● Operating cash flow SEK -17.7 (40.9) million in Q4 ● Continued build-up of inventory amounting to SEK 93.4 million in Q4 ● Net change in working capital of SEK -99.9 million ● Full year operating cash flow SEK 97.6 (32.7) milli

  12. Slide 12: Yubico in the news

    11 Jan. 2024 Yubico in the news 5 Jan. 2024 © 2024 Yubico 12

  13. Slide 13: Positioned for continued growth

    Positioned for continued growth ● Cyber security has never been more important – and Yubico is recognized as the market leader in a rapidly growing segment ● Our business continues to perform well ● Broad customer base and healthy sales pipeline ● Working with American and EU regulators to set up po

  14. Slide 14: Q&A

    © 2024 Yubico 14 Q&A

  15. Slide 15: Thanks

    © 2024 Yubico Thanks

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