Yubico Ab · OMXSTO:YUBICO
Yubico Ab — Q2 2026 Earnings Presentation
18 slides from Yubico Ab's earnings presentation, Aug 6, 2026
Slide 1: Rethink Cybersecurity, Secure the Future
yubico Rethink Cybersecurity Secure the Future Q2 26 presentation 6 Aug 2026 © 2026 Yubico
Slide 2: Speakers
Speakers Jerrod Chong Snejana Koleva Chief Executive Officer Chief Financial Officer Yubico Yubico 2
Slide 3: Agenda
Agenda ● Company overview ● Q2 26 Highlights ● Financial overview ● Concluding remarks ● Q&A 3
Slide 4: Yubico at a glance
Yubico at a glance Global scale, trusted by enterprises 4,5OO+ SEK2.1bn Business customers Net sales LTM Q2 2026 + millions of consumers 77.8% 3O% Gross margin LTM Net sales CAGR between Q2 2026 2020-2025 43% O Growth in ARR in the account takeovers last 2 years 51O+ Employees 4
Slide 5: Market trends
Market trends AI: larger threats and productivity gains, two Post-quantum moving from planning to sides of the same coin AI-enhanced fraud is growing rapidly, with agentic systems piloting Government mandates and Big Tech roadmaps, including able to run complete campaigns. Meanwhile, companies a
Slide 6: Highlights from Q2 26
Highlights from Q2 26 Product & technology Commercial news Operational efficiency CMD 2026 Launch of YubiKey 5.8 & FIPS OpenAI and Google expand Strong net sales and November 19th, 2026 validation hardware auth reorganization delivers savings Capital Markets Day hosted in ● YubiKey 5.8 extends ● Beg
Slide 7: Expansion in top industries
Expansion in top industries Share of Bookings per industry, Q2 2026, Percent Some of our customers 7
Slide 8: Q2 2026 Key figures
Q2 2026 Key figures SEK Millions Bookings Net sales ARR Gross profit, margin EBIT, margin -5%* +12%* +12%* 79% 80% 4% 14% * Excl. currency impact of -2% * Excl. currency impact of -3% * Excl. currency impact of -7% 8
Slide 9: Summary of Q-o-Q development
Summary of Q-o-Q development Q2 2025 Currency impact Organic change Q2 2026 Order Booking 621.8 -14.9 -29.8 577.1 Order booking development -2% -5% -7% Net sales 499.1 -13.7 58.5 543.9 Net sales development -3% 12% 9% EBIT 21.2 -10.6 67.9 78.5 EBIT Margin% (Accretion/Dilution) 4.2% -2.1 ppt 12.3 ppt
Slide 10: Small and mid-size bookings develop strongly with 18% growth
Small and mid-size bookings develop strongly with 18% growth Bookings by order size in USD equivalent SEK Millions ● Bookings declined against the prior-year comparison due to a large subscription order in Q2 2025 ● Small and mid-sized deals under USD 3m grew 18% y-o-y ● Strong EMEA growth, led by a
Slide 11: Perpetual bookings and sales show strong growth
Perpetual bookings and sales show strong growth Perpetual Bookings by order size in USD equivalent Perpetual Net sales SEK Millions SEK Millions +7%* +9%* ● Perpetual bookings increased to SEK 437.1m with very strong growth in e-commerce and smaller contracts ● Public sector remains the largest cont
Slide 12: YaaS bookings showed healthy development in the small-to-mid size orders
YaaS bookings showed healthy development in the small-to-mid size orders YaaS Bookings by order size in USD equivalent Subscription Net sales, and Annual Recurring Revenue SEK Millions SEK Millions -29%* +27%* ● xxx ● xxx ● A large multi-year contract in Q2 2025, while Q2 2026 was primarily small-to
Slide 13: ARR growth supported by new contracts and expansions
ARR growth supported by new contracts and expansions Annual recurring revenue SEK Millions +12% ● Annual Recurring Revenue increased 4.4% year on year to SEK 412m, 12% as compared to the end of 2025 ● New contracts and customer expansions supported growth ● Gross retention rate of 98.1 ● Net Retenti
Slide 14: EBIT impacted by higher sales volumes and executed reorganization
EBIT impacted by higher sales volumes and executed reorganization Gross ● Gross profit of 80.1%, at the higher end profit of the guided range of 75-80% - SEK impacted by higher volume of net sales Millions ● EBIT impacted by higher sales volume, SEK -10.6m negative currency impact, ● The cost savings
Slide 15: Positive operating cash flow and a strengthened cash position
Positive operating cash flow and a strengthened cash position SEK Millions 2025 2026 2025 2026 ● Operating cash flow of SEK 52m, 2025 Q2 Q2 YTD YTD impacted by higher working capital Cash flow from operating activities before 209 42 85 88 94 Working capital changes ● Working capital increase mainly dri
Slide 16: Yubico Strategic Areas
Yubico Strategic Areas 1 2 3 4 5 Advance the Elevate YubiKey Expand into Drive Simplify Secure Root of as a Service Digital Identity Go-to-Market Customer Trust Services Expansion Experience YubiKey & Production: YubiKey as a Service: Digital Identity Go to market: Deepen Frictionless Continue to st
Slide 17: Q&A
Q&A 17
Slide 18: yubico
yubico The Key to Trust