Yubico Ab · OMXSTO:YUBICO

Yubico Ab — Q1 2024 Earnings Presentation

16 slides from Yubico Ab's earnings presentation, May 14, 2024

  1. Slide 1: Making the internet safer for all

    Making the internet safer for all Yubico Yubico © 2024 Q1 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 +30m YubiKeys sold 400+ Employees SEK 1.9bn +80% 0 Net sales LTM Gross margin account Q1 2024 LTM Q1 2024 takeovers © 2024 Yubico

  4. Slide 4: Trusted brands trust Yubico

    Trusted brands trust Yubico © 2024 Yubico

  5. Slide 5: Scaling with existing customers

    Scaling with existing customers Continuously landing new key accounts… …and expanding with current accounts …while diversifying across verticals 2.2x +119% 26% Avg. annual repurchase 12% rate 2018-23 2018 2023 2018 2022 2018 2023 Presence among G2000 companies Bookings in 2018 and 2023 from the Book

  6. Slide 6: YubiKey works with 1000+ applications

    YubiKey works with 1000+ applications Computer CMS Login Developer Remote & Encryption Access Tools & VPN Identity Online Access Services Mgmt Privileged Password Access Mgmt © 2024 Yubico

  7. Slide 7: Highlights from the quarter

    Highlights from the quarter Events in the quarter Lock-Up Expiry: - March 18th, the first lock-up expired, with second Strong sales performance: and final lock-up expiring 18 September 2024, - 65% Order Bookings growth, across a wide set of marking 365 days after initial trading. geographies, indust

  8. Slide 8: Q1 2024 – Quarterly summary

    Q1 2024 – Quarterly summary Net sales (SEKm) Gross profit (SEKm) Adj EBIT (SEKm) and ● Subscription share of margin (%) net sales Q 12.3 (12.5)% 20.4% 21.6% (20.5% in local 22.7% curr.) ● Gross margin Q 80.9 (80.1)% 408 91 504 335 74 ● ARR1 419 SEK 277.1 (219.3) million, growth of 26% 18.0% 17.6% ©

  9. Slide 9: Bookings and subscription bookings

    Bookings and subscription bookings Bookings and subscription bookings (SEKm) Comments ● Bookings growth of 65.4% in the quarter, to 800 SEK 578.9 (349.9) million, growth of 65.9% 700 in local currencies 600 19% ● Growth in Q1 came from a diverse customer 500 18% 18% base. Major orders from European

  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) 600 2 500 350 500 2 000 300 400 250 1 500 300 200 1 000 200 150 100 500 100 0 0 50 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0 2022 2023 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Net sales LTM 2022 2023 2024 ● Net sales incr

  11. Slide 11: EBIT

    EBIT Adjusted EBIT, quarterly and 12-months rolling (SEKm) Comments ● Gross margin 80.9% (80.1), definition 120,00 350 affected by the change in income 100,00 300 statement format, from “by nature” to 250 80,00 200 “by function” 150 60,00 100 ● EBIT SEK 90.5 (73.8) million, 40,00 50 corresponding to

  12. Slide 12: Cash flow and financial position

    Cash flow and financial position Comments Inventory and % of net sales ● Operating cash flow SEK 33.0 (167.2) million in Q1 700 29,9% ● Continued build-up of inventory amounting to SEK 600 27,2% 24,0% 67.6 million in Q1 500 23,7% 20,3% ● Net change in working capital of SEK -35.8 million 400 17,3% ●

  13. Slide 13: IMF report highlights cybersecurity

    IMF report highlights cybersecurity • IMF's Global Financial Stability Report emphasizes cyber risk's significance for financial stability, noting its targeting of financial institutions, which face potential disruption due to market concentration and reliance on common IT providers. • Highlighted i

  14. Slide 14: Strong start to the year gives a promising future

    Strong start to the year gives a promising future • The importance of cybersecurity is ever-increasing, and Yubico provides an effective means to address the biggest attack vector • Worldwide innovation and technology leader in phishing-resistant multifactor authenticator • Strong sales performance,

  15. Slide 15: Q&A

    © 2024 Yubico 15 Q&A

  16. Slide 16: Thanks

    © 2024 Yubico Thanks

Yubico — Q1 2024 Earnings Presentation on 6ix