Yubico Ab · OMXSTO:YUBICO

Yubico Ab — Q4 2024 Earnings Presentation

17 slides from Yubico Ab's earnings presentation, Feb 13, 2025

  1. Slide 1: Making the internet safer for all

    Making the internet safer for all Yubico Yubico © 2025 Q4 report, 2024 © 2025

  2. Slide 2: Today's presenters

    Today’s presenters Mattias Danielsson Camilla Öberg Chief Executive Chief Financial Officer Officer © 2025 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 +35m YubiKeys sold 470+ Employees SEK 2.3bn +82% 0 Net sales LTM Gross margin account Q4 2024 LTM Q4 2024 takeovers © 2025 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 © 2025 Yubico 4

  5. Slide 5: Trusted brands trust Yubico

    Trusted brands trust Yubico © 2025 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 2.2x +119% 29% Avg. annual repurchase 14% rate 2018-23 2019 2024 2019 2024 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 Concluding a strong year: T-Mobile collaboration - Despite tough comps, order bookings growth of - Our growth continues, highlighted by T-Mobile’s 13% across a wide set of customers. Continued deployment of 200,000 YubiKeys, eliminating growth in high-tech companies, publ

  8. Slide 8: Q4 2024 – Quarterly summary

    Q4 2024 – Quarterly summary Bookings & Net sales (Perpetual Gross profit (SEKm) Adj EBIT (SEKm) and Subscription and Subscription) and margin (%) margin (%) Booking (SEKm) (SEKm) 12.2% 21.3% 31.7% 12.8% (local currency 11.5%) (local currency 11.2%) 771 623 111 524 684 146 555 74 129 74 432 84 84.0%

  9. Slide 9: Bookings and subscription bookings

    Bookings and subscription bookings Bookings and subscription bookings (SEKm) Comments ● Bookings growth of 12.8% in the quarter, to SEK 771.3 (684.1) million, growth of 11.5% in local 900 currencies. Full year bookings grew by 43.1% to 800 SEK 2,632.6 million (SEK 1,840.0 million) 700 19% 19% ● Perp

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

  11. Slide 11: EBIT

    EBIT Adjusted EBIT, quarterly and 12-months rolling (SEKm) Comments ● Gross profit SEK 524.3 (432.1) million, corresponding to a strong gross margin of 140 500 84.1% (77.8), supported by favorable 120 400 currency which affects inventory value 100 80 300 60 ● Adj EBIT SEK 110.9 (84.2) million, 200 4

  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 800 30,0% 29,2% 29,7% 28,2% to increase inventory levels. By the end of the quarter, 700 27,4% 24,0% inventory reached 29.7 percent of LTM net sales 600 500 ● Net chang

  13. Slide 13: Yubico mission evolved

    Yubico mission evolved From protecting the authentication to ‘protecting the user’ VISION A safer internet for all MISSION Protect the digital you MISSION 2008 - 2024 Make secure login easy and available to everyone DONE

  14. Slide 14: Three strategic focus areas to execute our vision

    Three strategic focus areas to execute our vision • New market coverage Expand • Deeper engagements in installed base • Go-to-market Partnerships • Global Channel model Simplify • Delivery from order to doorstep • Optimize delivery processes & simplify deployment & adoption • Pursue business opportu

  15. Slide 15: 2024 - a year of strong growth

    2024 - a year of strong growth Bookings (SEK) Net sales (SEK) 2.6bn 43.1% 2.3bn 27.3% 2023: 1.8bn 2023: 1.8bn Adj. Ebit (SEK) & Adj. Ebit Cash flow from operating margin activities (SEK) 437m 64.3% 344m 202% 2023: 266m 2023: 114m 18.8% © 2025 Yubico 9.8% 15

  16. Slide 16: Q&A

    © 2025 Yubico Q&A

  17. Slide 17: Thanks

    © 2025 Yubico Thanks

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