Yubico AB · OMXSTO:YUBICO
Yubico AB — Q3 2026 Earnings Presentation
19 slides from Yubico AB's earnings presentation, Nov 5, 2026
Slide 1: Rethink Cybersecurity, Secure the Future
yubico Rethink Cybersecurity Secure the Future Q3 26 presentation 5 Nov 2026 © 2026 Yubico
Slide 2: Speakers
Speakers Jerrod Chong Snejana Koleva Chief Executive Officer Chief Financial Officer Yubico Yubico 2
Slide 3: Yubico at a glance
Yubico at a glance Global scale, trusted by enterprises 4,5OO+ SEK2.3bn Business customers Net sales LTM Q3 2026 + millions of consumers 78.7% 3O% Gross margin LTM Net sales CAGR between Q3 2026 2020-2025 49% O Growth in ARR in the account takeovers last 2 years 5OO+ Employees 3
Slide 4: Market update | Q3 2026
Market update | Q3 2026 Cyberattacks surged 48% Japan Declares Emergency As It year-on-year in September Falls Under Sustained Cyber Attack Organizations experienced an average of 2,803 cyber attacks per Japan's ruling party officials declared a "state of emergency in week, up 48% year-on-year. Phis
Slide 5: Key findings: 2026 Global State of Authentication
Key findings: 2026 Global State of Authentication Onboarding defaults set High awareness, low adoption long-term habits 43% of security and IT professionals still rely on 43% passwords at work, despite 31% naming 52% 52% inherited passwords on their first day. hardware passkeys the gold standard for s
Slide 6: Recent Highlights from Yubico
Recent Highlights from Yubico Product & technology Commercial news Sales execution Long term strategy Expanding into digital Expanding reach across Strong bookings and Updated financial targets services enterprise and consumer broad-based demand through 2031 ● Introduction of YubiID, markets ● Orde
Slide 7: Expansion in top industries
Expansion in top industries Share of Bookings per industry, Q3 2026, Percent Some of our customers 7
Slide 8: Q3 2026 Key figures
Q3 2026 Key figures SEK Millions Bookings Net sales ARR Gross profit, margin EBIT, margin +85%* +28%* +13%* 79% 81% 15% 25% * Excl. currency impact of 3% * Excl. currency impact of 1% * Excl. currency impact of 0.4% 8
Slide 9: Summary of Q-o-Q development
Summary of Q-o-Q development Currency Q3 2025 impact Organic change Q3 2026 Q3 YTD Order Booking 504.2 +15.6 +429.1 949.0 1,917 Order booking development +3.1% +85.1% +88.2% +20.9%* Net sales 547.5 +5.5 +155.0 708.0 1,731 Net sales development +1.0% +28.3% +29.3% +9.0*% EBIT 79.6 +19.9 +79.8 179.3 2
Slide 10: Strong bookings, with growth across perpetual, subscription and e-commerce
Strong bookings, with growth across perpetual, subscription and e-commerce Bookings by order size in USD equivalent ● Bookings increased 88 percent to SEK SEK Millions 949m (504), of which 85 percent was organic; YTD growth is 16% ● Several large customer orders, developed over an extended period, m
Slide 11: Perpetual bookings and sales reach record levels
Perpetual bookings and sales reach record levels Perpetual Bookings by order size in USD equivalent Perpetual Net sales SEK Millions SEK Millions +77%* +28%* ● Perpetual bookings increased to SEK 738m (418), driven by large enterprise orders and continued e-commerce strength ● Technology was the lar
Slide 12: Subscription bookings more than doubled year on year
Subscription bookings more than doubled year on year YaaS Bookings by order size in USD equivalent Subscription Net sales, and Annual Recurring Revenue SEK Millions SEK Millions ● xxx ● Subscription bookings increased 144 percent to SEK 211m● xxx(87), supported by large enterprise renewals and new c
Slide 13: ARR growth accelerates, supported by new contracts and expansions
ARR growth accelerates, supported by new contracts and expansions ● Annual Recurring Revenue increased 13% year on year to SEK 436.9m (386.2) ● Sequentially ARR grew 6.1% from Q2, of which 5.8% organic and 0.4% positive currency impact ● New contracts and customer expansions supported growth ● Gross
Slide 14: Profitability driven by volume, mix and operating leverage
Profitability driven by volume, mix and operating leverage ● Gross margin of 81.3 (78.6) percent, supported by strong volumes and a favourable product and channel mix, particularly high-margin e-commerce ● EBIT of SEK 179.3m (79.6), an EBIT margin of 25.3 (14.5) percent - the highest in Yubico's hist
Slide 15: Positive operating cash flow and a strengthened cash position
Positive operating cash flow and a strengthened cash position SEK Millions 2025 2026 2025 2026 ● Operating cash flow of SEK 227m (36), 2025 supported by strong profitability and Q3 Q3 YTD YTD reduction of working capital Cash flow from operating activities before 209 106 173 193 266 Working capital chan
Slide 16: New financial targets: Towards 20%
New financial targets On 5 November, Yubico's Board of Directors adopted updated long-term financial targets for the five-year period 2027–2031. Net sales Profitability 15–20% Towards 20% ANNUAL AVERAGE NET SALES GROWTH EBIT MARGIN BY 2031 Average annual net sales growth of 15–20 percent over Sustain
Slide 17: Capital Markets Day 2026 - November 19th
Capital Markets Day 2026 - November 19th VENUE PROGRAMME CUSTOMERS Location Speakers Customer Voice Epicenter Stockholm and Insights and testimonials from global livestream ● Jerrod Chong, CEO leaders ● Albert Biketti, CPTO TIME & DATE ● Poupak, CMO 19th November: 15:00–18:30 CET ● Snejana Koleva, C
Slide 18: Q&A
Q&A 18
Slide 19: yubico
yubico The Key to Trust