F Secure Oyj (FSROF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

A warm welcome, everybody, to F-Secure's quarter one interim results session, both here in the room as well as everybody else who are attending the session online. Straight into a summary of the quarter. So our revenue grew by 2%. Still during quarter one, the US dollar exchange rate was clearly favorable. Towards the end of March that started changing and naturally we've seen in April that it's been quite different from what we've been experiencing in the past couple of years as dollar has been weakening. But with regards to quarter one, it was still favorable to us as we're a very heavily Euro focused company. Profitability exceeded our expectations. That was good. We forged new partnerships. One partnership in the Nordics, which is completely new. And then in Central Europe, Orange, that I'll talk a bit more about later. And then we had a small number of partners who enhanced their Contracts, typically our contracts are in the range of three to five years and those came up for renewal and they renewed and not only renewed, they expanded the scope with F-Secure. In terms of quarter one and embedded, clear developments once again on AI-powered scam detection specifically, more about that a bit later. Our new organization is now in place. At the end of 24, we ran change negotiations to go for a more customer-centric operational model and an organizational structure. That's now in place. and fully operational. And then I would say that with regards to AI, we've gone forward in leaps and bounds in quarter one, all across the company in every single function, in practically everything we do. Like many companies, we are still in the early phase of thorough AI native solutions and processes across the company, but we have really made excellent strides in the first quarter...