Yubico

Second quarter

• Net sales increased by 36.3 percent to SEK 614.4 (450.8) million, corresponding to an increase of 34.7 percent in local currencies
• Subscription sales amounted to 9.7 (13.0) percent of net sales
• Gross profit amounted to SEK 493.4 (363.0) million, corresponding to a gross margin of 80.3 (80.5) percent
• EBIT amounted to SEK 130.8 (97.3) million, corresponding to an EBIT margin of 21.3 (21.6) percent
• Earnings per share after dilution amounted to SEK 1.17 (1.52). The average number of shares has increased by 79 percent compared to the previous year, related to the merger of ACQ Bure and Yubico in September 2023
• Bookings increased by 65.5 percent to SEK 672.6 (406.4) million, corresponding to an increase of 62.8 percent in local currencies
• Subscription bookings amounted to 21.1 (14.8) percent of bookings, including renewals
• ARR (annual recurring revenue) amounted to SEK 287.6 (242.8) million, an increase of 18.4 percent

January - June

• Net sales increased by 28.8 percent to SEK 1,113.3 (864.6) million, corresponding to an increase of 28.2 percent in local currencies
• Subscription sales amounted to 10.5 (12.2) percent of net sales
• Gross profit amounted to SEK 895.8 (693.3) million, corresponding to a gross margin of 80.5 (80.2) percent
• EBIT amounted to SEK 215.8 (166.0) million, corresponding to an EBIT margin of 19.4 (19.2) percent
• Earnings per share after dilution amounted to SEK 2.01 (2.55)
• Bookings increased by 65.5 percent to SEK 1,251.6 (756.3) million, corresponding to an increase of 64.3 percent in local currencies
• Subscription bookings amounted to 19.7 (11.5) percent of bookings

Significant events during the quarter 

• On May 6, 2024, Yubico released an updated version of YubiKey firmware, introducing enhanced enterprise security features and support for Yubico Authenticator 7
• On May 14, 2024, Yubico held its Annual General Meeting (AGM) where Jaya Baloo was elected as a new Board Member. Additionally, the board's proposal to implement a long-term incentive program (LTIP) for 2024 was approved. Further details on the LTIP are given in this report

Significant events after the end of the quarter 
There were no significant events after the end of the period

Webcast/teleconference
Yubico will hold a webcast/conference call today, August 15, 2024, at 09:00 CET. Mattias Danielsson, CEO of Yubico and Camilla Öberg, CFO of Yubico will present and answer questions.

To participate in the conference, click on the following link: https://ir.financialhearings.com/yubico-q2-report-2024. Via the webcast, you can ask written questions. If you wish to ask questions verbally, please register on the following link: https://conference.financialhearings.com/teleconference/?id=50049839

Interim reports
The complete interim report for January to June 2024 will be available on https://investors.yubico.com/en/investors/reports-and-presentations/