Yubico

Quarterly summary
Fourth quarter

• Net sales increased by 12.2 percent to SEK 623.0 (555.3) million, corresponding to an increase of 11.2 percent in local currencies
• Subscription sales amounted to 11.4 (13.3) percent of net sales
• Gross profit amounted to SEK 524.3 (432.1) million, corresponding to a gross margin of 84.1 (77.8) percent
• Adjusted EBIT amounted to SEK 110.9 (84.2) million, corresponding to an adjusted EBIT margin of 17.8 (15.2) percent
• EBIT amounted to SEK 110.9 (90.9) million, corresponding to an EBIT margin of 17.8 (16.4) percent. Last year’s figures were affected by transaction costs related to the merger of ACQ and Yubico
• Earnings per share after dilution amounted to SEK 1.27 (0.87)
• Bookings increased by 12.8 percent to SEK 771.3 (684.1) million, corresponding to an increase of 11.5 percent in local currencies
• Subscription bookings amounted to 18.9 (18.9) percent of bookings
• ARR (annual recurring revenue) amounted to SEK 324.1 (286.5) million, an increase of 13.1 percent

January – December

• Net sales increased by 27.3 percent to SEK 2,326.2 (1,827.3) million, corresponding to an increase of 27.6 percent in local currencies
• Subscription sales amounted to 11.3 (12.9) percent of net sales
• Gross profit amounted to SEK 1,897.5 (1,458.6) million, corresponding to a gross margin of 81.6 (79.8) percent
• Adjusted EBIT amounted to SEK 437.5 (266.2) million, corresponding to an adjusted EBIT margin of 18.8 (14.6) percent
• EBIT amounted to SEK 437.5 (179.1) million, corresponding to an EBIT margin of 18.8 (9.8) percent
• Earnings per share after dilution amounted to SEK 4.20 (2.19). The average number of shares has increased by 48.4 percent compared to the previous year, related to the merger of ACQ Bure and Yubico in September 2023
• Bookings increased by 43.1 percent to SEK 2,632.6 (1,840.0) million, corresponding to an increase of 43.5 percent in local currencies
• Subscription bookings amounted to 18.3 (14.9) percent of bookings
• The Board of Directors proposes that no dividend shall be paid for the financial year 2024 and that retained earnings shall be carried forward

Significant events during the quarter

• Yubico changed listings from First North Growth Market and commenced trading on Nasdaq Stockholm on December 5th, 2024

Significant events after the end of the period

• Camilla Öberg, Chief Financial Officer, has decided to leave her role after four years at Yubico. The search for her successor will begin immediately. Camilla will continue in her role until the new CFO has taken office. For more information see press release published on February 13th 2025

Webcast/teleconference
Yubico will hold a webcast/conference call today, December 13, 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://yubico.events.inderes.com/q4-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.inderes.com/teleconference/?id=5002956

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