Yubico Ab · OMXSTO:YUBICO

Yubico Ab — Q3 2024 Earnings Presentation

15 slides from Yubico Ab's earnings presentation, Nov 13, 2024

  1. Slide 1: Making the internet safer for all

    Making the internet safer for all Yubico Yubico © 2024 Q3 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 +33m YubiKeys sold 470+ Employees SEK 2.3bn +80% 0 Net sales LTM Gross margin account Q3 2024 LTM Q3 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 Strong order bookings: Nomination committee: - 53% Order Bookings growth across a wide set of - On September 23 Yubico announced the geographies, industries and customers. Continued Nomination Committee for the 2025 Annual General growth in public sector and high-tech com

  8. Slide 8: Q3 2024 – Quarterly summary

    Q3 2024 – Quarterly summary Bookings & Net sales (Perpetual Gross profit (SEKm) Adj EBIT (SEKm) and Subscription and Subscription) and margin (%) margin (%) Booking (SEKm) (SEKm) 44.8% 43.5% 587% 52.6% (local currency 58.5%) (local currency 49.0%) 610 111 590 89 478 71 400 407 333 58 59 81.0% 18.8%

  9. Slide 9: Bookings and subscription bookings

    Bookings and subscription bookings Bookings and subscription bookings (SEKm) Comments ● Bookings growth of 52.6% in the quarter, to SEK 800 609.7 (399.6) million, growth of 58.5% in local 700 currencies. YTD bookings grew by 61.0% to 19% SEK 1,861.2 million (SEK 1,155.9 million) 600 21% 15% 500 18%

  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 0 0 50 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 0 2022 2023 2024 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Quarter LTM 2022 2023 2024 ● Net sales in

  11. Slide 11: EBIT

    EBIT Adjusted EBIT, quarterly and 12-months rolling (SEKm) Comments ● Gross profit SEK 478.0 (333.2) million, 140 450 corresponding to a stable gross margin of 120 400 81.0% (81.8) 350 100 300 ● Adj EBIT SEK 110.7 (16.1) million, 80 250 corresponding to an EBIT margin of 18.8% 60 200 (4.0). EBIT SEK

  12. Slide 12: Cash flow and financial position

    Cash flow and financial position Comments Inventory and % of LTM net sales ● During 2023 and Q1 2024, a strategic decision was made 700 30,2% to increase inventory levels. By the end of the quarter, 29,2% 600 28,2% 27,4% inventory reached 28.2 percent of LTM net sales, 24,0% representing a reduced l

  13. Slide 13: Continuous advancements in several areas

    Continuous advancements in several areas • Increasing AI-driven cyber threats and tightening regulations are accelerating demand for robust security products like Yubico’s, enabling stronger multifactor authentication and data protection across industries. • Yubico’s partnership with PKO Bank, Polan

  14. Slide 14: Q&A

    © 2024 Yubico 14 Q&A

  15. Slide 15: Thanks

    © 2024 Yubico Thanks

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