Breakeven Date Change • May 20
Forecast breakeven date pushed back to 2028 The 2 analysts covering SSH Communications Security Oyj previously expected the company to break even in 2027. New consensus forecast suggests losses will reduce by 61% per year to 2027. The company is expected to make a profit of €2.95m in 2028. Average annual earnings growth of 81% is required to achieve expected profit on schedule. Annuncio • Jan 09
Ssh Communications Security Corporation Appoints Harri Pendolin as Chief Product Officer, Effective from February 1, 2026 SSH Communications Security Corporation has appointed Harri Pendolin as Chief Product Officer for SSH, effective February 1, 2026. He is part of the new Executive Management Team. The CPO role is new at SSH and will be responsible for shaping and executing the product strategy to support successful market expansion. Strengthening SSH’s go-to-market and product marketing capabilities is essential to increase demand generation and accelerate growth. Harri joins SSH from Taskmill Consulting, previously also at Eficode and Nokia. He brings extensive experience and a proven track record in the development of product-led businesses, with strengths in the formulation of product strategy, the advancement of product leadership, and the transformation of product management organizations. Annuncio • Jan 02
SSH Communications Security Oyj Provides Earnings Guidance for the Year 2025 SSH Communications Security Oyj provided earnings guidance for the year 2025. For the year, company expected Net sales will decrease slightly compared to 2024. The earlier 2025 outlook, issued on 14 February 2025, expected net sales to grow. Annuncio • Sep 09
SSH Communications Security Oyj announced that it expects to receive €20 million in funding from Leonardo S.p.a. SSH Communications Security Oyj announced that it has signed a strategic partnership and investment agreement to raise gross proceeds of €20,000,000 on September 9, 2025. The transaction includes participation from Leonardo S.p.A. Annuncio • May 30
SSH Communications Security Announces Complete, Automated Integration Between PrivX PAM and PrivX Key Manager SSH Communications Security announced the complete and automated integration of their SSH key lifecycle management and privileged access management (PAM) solutions. The company's PrivX Just-in-Time PAM keeps organizations secure and their people productive. SSH's PrivX Key Manager extends this PAM functionality by discovering SSH keys and accounts, automating their management at scale and enabling the evolution to keyless access via unique ephemeral certificates with the push of a button. The importance of workload ID and secrets management, including SSH keys and passwords, as a critical capability for a PAM is emphasized by analysts such as Gartner and KuppingerCole, global leaders in security market research. KuppingerCole has recently recognized PrivX as an overall, product and innovation leader in their recent Enterprise Secrets Management Leadership Compass 2025. Like passwords, SSH keys are critical access credentials, a significant attack vector, and an audit failure point especially in large organizations with thousands of servers. Traditional PAM solutions typically discover only 20% of all SSH keys and can't properly manage them through a vault alone. This leads to non-compliance, security risks and opportunities for PAM bypasses. Annuncio • Apr 17
Ssh Communications Security Announces Multiple Privx Deals SSH Communications Security announced new wins for PrivX, a modern 3rd generation privileged access management (PAM) solution. PrivX provides just-in-time (JIT) and Just Enough Access (JEA), operates with both zero standing privileges (ZSP) and a secrets vault for credentials management. The solution is based on modern scalable microservices architecture, and PrivX bridges the gap between traditional, modern and future-proof access management in critical IT/OT infrastructure. These elements earned the solution the recognition of being an overall leader in KuppingerCole's Cloud Identity and Entitlement Management (CIEM) Leadership Compass last year. New customer wins for PrivX include: a leading North American advisor in business-to-business engagement solutions globally. an Asian foods wholesaler with a network of approximately 6,500 suppliers and 3,000 buyers a leading Nordic full-service provider of cloud-based IT services a global leader in forest industry business a Defense operator. Annuncio • Jan 09
SSH Communications Security Corporation Appoints Rami Raulas as CEO, Effective 8 January 2025 The board of directors of SSH Communications Security Corporation has appointed Rami Raulas CEO, effective 8 January 2025. He has been interim CEO since February 2024. Raulas joined SSH in 2016 and has been a member of the company’s Executive Management Team since 2021 as Head of EMEA Region. Prior to joining SSH, Raulas held international leadership positions in global companies, such as Ahlstrom, Fujitsu-Siemens, Fujitsu and Nokia. He holds a Master of Science degree from the Helsinki School of Economics (currently Aalto University). Annuncio • Nov 29
SSH Communications Security Oyj Announces the Appointment of Pauli Haikonen as the Chief Information Security Officer, Effective December 1, 2024 SSH Communications Security Oyj announced the appointment of Pauli Haikonen as the company's Chief Information Security Officer (CISO), effective December 1, 2024. Pauli has been a key part of SSH since 2018, contributing greatly to the development and management of the company’s IT systems. With nearly 20 years of experience in IT and cybersecurity, Pauli brings a wealth of knowledge and expertise that positions him perfectly to lead SSH’s security strategy as it continues to grow and expand in an increasingly complex digital landscape. In his current role, Pauli led the company through the successful process of obtaining ISO 27001 certification, a significant achievement that highlights SSH's commitment to maintaining high standards for information security. This certification demonstrates that the company meets important requirements for protecting data and managing security risks. As CISO, Pauli will be responsible for overseeing the company’s overall approach to cybersecurity, helping to protect both the organization and its clients from the growing risks in the digital world. His leadership will be essential as SSH continues to strengthen its security practices and ensure it remains a reliable partner for businesses seeking secure solutions. Reported Earnings • Oct 27
Third quarter 2024 earnings released Third quarter 2024 results: €0.002 loss per share. Revenue: €5.20m (flat on 3Q 2023). Net loss: €100.0k (flat on 3Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. New Risk • Oct 25
New major risk - Revenue and earnings growth Earnings have declined by 12% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 12% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€48.5m market cap, or US$52.6m). Annuncio • Sep 27
SSH Communications Security Oyj, Annual General Meeting, Mar 25, 2025 SSH Communications Security Oyj, Annual General Meeting, Mar 25, 2025. Location: helsinki Finland Breakeven Date Change • Jul 22
Forecast breakeven date pushed back to 2026 The analyst covering SSH Communications Security Oyj previously expected the company to break even in 2025. New forecast suggests losses will reduce by 76% per year to 2025. The company is expected to make a profit of €680.0k in 2026. Average annual earnings growth of 104% is required to achieve expected profit on schedule. Annuncio • Jul 08
SSH Communications Security Announces the Release of Version 3.0 of Its Quantum-Safe NQX Communications Solution SSH Communications Security announced the release of version 3.0 of its quantum-safe NQX communications solution. The new version is more powerful, supports the latest quantum-safe encryption algorithms, and enables customers to manage large numbers of connections between networks, data centers, and factories. The NQX software meets the needs of national security agencies and other organizations as they move vast amounts of data between data centers, industrial environments, branch offices and networks in a quantum-secure fashion. Unlike many competing products, NQX transmits data at high rates even when super secure quantum-safe connections are turned on. The main features of NQX 3.0 are: Quantum-safe key exchange with support for the latest post-quantum cryptography (PQC) key agreement algorithms FrodoKEM and Kyber. Crypto agile design ensures that the latest PQC algorithms can be easily taken into use as they evolve. The solution uses the hybrid approach where classical and quantum-safe algorithms work both in parallel and together. Ethernet support up to 100Gbps for data links between data centers. Modernized management system for more efficient operations of even the most complex network topologies. Reported Earnings • Apr 25
First quarter 2024 earnings released: €0.03 loss per share (vs €0.03 loss in 1Q 2023) First quarter 2024 results: €0.03 loss per share (in line with 1Q 2023). Revenue: €5.00m (up 4.2% from 1Q 2023). Net loss: €800.0k (loss narrowed 11% from 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Annuncio • Apr 19
SSH Communications Security Oyj Announces Significant Enhancements to the Authentication Capacity of Its Solution Portfolio, the PrivX Zero Trust Suite SSH Communications Security announced significant enhancements to the authentication capacity of its solution portfolio, the PrivX Zero Trust Suite. PrivX Authorizer, including Device Trust Authorizer, provides more secure authentication for privileged users and their devices. Email phishing is an attack vector that leverages the weaknesses of credential-based authentication and weak MFA solutions. Hence, modern phishing-resistant MFA is needed, and modern SSH MFA solutions provide a powerful way to mitigate phishing attacks on authentication. Strong authentication and just-in-time authorization for super-users: Authentication using off-the-shelf products is enough for standard users. However, there are some critical systems and high-impact operations that require stricter access control and stricter authentication. The users for this are about 1 in 200: super-users or power users, such as administrators and application owners. For these sensitive users, PrivX Authorizer provides a phishing-resistant, biometrics-based advanced MFA that can authenticate the device and the user. The Device Trust solution continuously validates the device's security posture, terminating policy-contravening sessions automatically. Moreover, it can deny access based on anomalous user behavior, location, and time, or require re-authentication. Additionally, PrivX Authorizer will be able to facilitate and approve temporary role requests from other users. New Risk • Apr 14
New major risk - Revenue and earnings growth Earnings have declined by 17% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (€54.7m market cap, or US$58.2m). Annuncio • Mar 01
SSH Communications Security Corporation Appoints Miikka Sainio to Executive Management Team CTO Miikka Sainio has been appointed as a member of SSH Communications Security Corporation’s Executive Management Team as of 1 March 2024. Sainio has been working at SSH since 2016 and as CTO he has served since November 2020. Annuncio • Feb 28
SSH Communications Security Oyj Announces CEO Changes The Board of Directors of SSH Communications Security Corporation and CEO Teemu Tunkelo have agreed that Tunkelo will leave his position in the company with immediate effect. Tunkelo served as CEO of SSH since March 2020. The recruitment process for a new CEO has been initiated. The Board of Directors of SSH has appointed Rami Raulas as interim CEO of the company. Raulas has been a member of the company’s Executive Management Team since 2021 as Head of EMEA Region and has been with SSH since 2016. Rami holds a Master of Science degree in strategic marketing, business economics, and computer science from Aalto University (previously known as the Helsinki School of Economics). Reported Earnings • Feb 23
Full year 2023 earnings released: €0.10 loss per share (vs €0.049 loss in FY 2022) Full year 2023 results: €0.10 loss per share (further deteriorated from €0.049 loss in FY 2022). Revenue: €20.3m (up 5.3% from FY 2022). Net loss: €2.70m (loss widened 41% from FY 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Feb 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Market cap is less than US$100m (€59.8m market cap, or US$64.7m). Annuncio • Feb 06
SSH Communications Security Announces Enhancements to SSH Zero Trust Suite SSH Communications Security announced enhancements to SSH Zero Trust Suite, enabling tight integration for key users accessing critical and sensitive data with Microsoft Entra solutions. SSH Zero Trust Suite and Microsoft Entra allow customers to improve their cybersecurity posture in Identity and Access Management (IAM). This integration streamlines access control to sensitive and critical data. This solution serves SSH's customers in finance, government, retail, and critical infrastructure like factories, airports, container terminals, and electricity and water supplies. PrivX technology protects users' access to critical and sensitive data with tight access control. Most cybersecurity risks are caused by a few users - typically one out of 200 users. Traditional perimeter-based security has become costly and ineffective. Communications security between people, systems, and networks is more important than blocking access with firewalls. PrivX completes Microsoft Entra solutions in environments that require high security. SSH Zero Trust Suite tightens the screws limiting access to the minimum and replaces permanent authorizations with just-in-time and just-enough access. The solution creates an audit trail about who did what, when, with what device, and at what time in which time zone. SSH Zero Trust Suite controls access to critical and sensitive data based on true multi-factor authentication (MFA), replacing traditional unsecure token-based two-factor (2FA) authentications like SMS messages. Annuncio • Nov 03
SSH Communications Security Oyj Announces the Launch of Secure Messaging 2024, A New Module of Its Secure Collaboration 2024 Platform SSH Communications Security, announced the launch of Secure Messaging 2024, a new module of its Secure Collaboration 2024 platform. Secure Messaging 2024 is a real-time, modern, secure messaging solution fortifying SSH's overall Zero Trust Suite solutions portfolio. Secure Messaging 2024 addresses compliance and security challenges in business communications. It provides organizations with a solution to fulfill requirements to oversee their employees’ communications with customers. Secure Messaging 2024 helps organizations improve their efficiency and productivity. It offers a variety of features, such as video and voice calling, file sharing, and group chats, that make it easy for employees to communicate, collaborate, and invite external collaborators under the employer’s regulatory supervision requirements. Secure Messaging 2024 provides compliant digital communication for humans: End-to-end encryption: All direct messages and group chats in Secure Messaging 2024 are encrypted, meaning only the sender and recipient can read them. Compliance: Secure Messaging 2024 helps organizations comply with industry regulations, such as NIS2, GDPR, HIPAA, and CCPA. These regulations require organizations to protect sensitive data and record all communications. Auditability: Secure Messaging 2024 provides organizations with a complete audit trail of all communications. This allows organizations to identify any suspicious activity or compliance violations quickly and easily. Data sovereignty: Customers can choose where their data resides (which country, on-premises or in the cloud) and always retain ownership and control of it. Integration with other applications: Secure Messaging 2024 integrates with other SSH products in the Zero Trust portfolio. Unauthorized employee-customer communication is a financial risk for financial institutions: Sharing sensitive, confidential, or secret business data via private messaging apps that aren't recorded can lead to non-compliance and massive fines. Recently, there have been several high-profile cases where financial institutions have been fined billions of dollars for using unauthorized and unrecorded communication channels, such as WhatsApp and Telegram. These channels are not compliant with SEC regulations and well-known business communication tools are increasingly targeted and breached. Reported Earnings • Oct 26
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €5.20m (flat on 3Q 2022). Net income: €0 (up €706.8k from 3Q 2022). Profit margin: 0% (up from net loss in 3Q 2022). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Software industry in Germany. Annuncio • Oct 26
Ssh Communications Security Corporation Provides Sales Guidance for the Year 2023 SSH Communications Security Corporation provided sales guidance for the year 2023. For the period, the company expects net sales to grow during 2023 compared to 2022. New Risk • Oct 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risks Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (€54.0m market cap, or US$57.2m). New Risk • Oct 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (€51.6m market cap, or US$54.5m). Annuncio • Jul 22
SSH Communications Security Corporation Provides Sales Guidance for the Full Year 2023 SSH Communications Security Corporation provided sales guidance for the full year 2023. The company expected net sales to grow during 2023 compared to 2022. Reported Earnings • Jul 20
Second quarter 2023 earnings released: €0.03 loss per share (vs €0.008 loss in 2Q 2022) Second quarter 2023 results: €0.03 loss per share (further deteriorated from €0.008 loss in 2Q 2022). Revenue: €4.90m (up 8.9% from 2Q 2022). Net loss: €1.00m (loss widened 233% from 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Software industry in Germany. Annuncio • Jun 17
SSH Communications Security Launches SSH Zero Trust Suite SSH Communications Security launched SSH Zero Trust Suite, combining SSH’s proven-in-use communications security products into a modern passwordless, keyless, and borderless ecosystem solution and further fortifying solution with quantum-safe capabilities. Borderless means that cybersecurity threat is equal in internet, extranet, and intranet environments. Typical use cases: Sharing sensitive information by email and secure workspaces, Managing access to critical resources and applications, e.g., secure third-party maintenance, Automated inter-application communication, such as automated bank transfers, Encrypted data transfer between data centers Zero Trust Suite manages and access and secrets in communications, ensuring that sensitive information remains secure and accessible only to authorized individuals, also monitoring and auditing who does what and when in the invisible digital world. While Suite supports traditional credential vaulting and rotation, it enables just-in-time authentication between people, applications, systems, networks, and clouds, eliminating the need to use passwords or SSH keys. Modern and easy-to-use solution Organizations can confidently exchange critical data, and Suite's advanced security preserves data confidentiality, audibility, and proper control and monitoring of access. A simple user experience is at the heart of the Zero Trust Suite. Users can enjoy an effortless and smooth authentication and access process. By eliminating passwords and incorporating biometric and other intuitive authentication methods, Suite ensures a user-friendly experience. Cybersecurity needs to be borderless Cyber threats are a global concern. Intranet, extranet, and the internet all have the same cyber threat exposure. Solutions like firewalls or demilitarized zones were designed when borders were assumed. Annuncio • Jun 07
Ssh Launches Openssh Support Service for Multi-Platform Ssh Environments SSH launched a support service for OpenSSH. As a result, customers benefit from high-quality SSH support services also for the open-source variant of SSH software. OpenSSH will be supported on Windows and Red Hat Linux platforms. The SSH protocol is a secure network protocol used to establish encrypted and secure remote connections and transfer data between different systems. OpenSSH is an open-source implementation of the SSH protocol. It was initially released as a free version of SSH’s Tectia product. As an open-source product, OpenSSH is popular, especially as SSH client software. However, its usage in critical corporate environments has been partly limited due to a lack of high-quality support services or support from a single source for all SSH clients. Without proper support services, customers often invest in in-house OpenSSH expertise, resulting in increased operating costs and challenges in maintaining required service levels. Customers can access the SSH support team with Service Level Agreements like Tectia. Tectia’s R&D team can perform code-level analysis and propose patches to OpenSSH mainline or platform administrators. Customers benefit from single source support both for Tectia and OpenSSH products from experienced SSH technical support. Additional SSH Professional Services are also available, as well as other products in the SSH Zero Trust Suite portfolio. Annuncio • May 18
SSH Communications Security Oyj Announces Member of the Board of Directors, Sampo Kellomäki, Has Passed Away SSH Communications Security Oyj's member of the board of directors, Sampo Kellomäki, passed away from a serious illness on 16 May 2023. Sampo has been a board member of SSH Communications Security since 2020. Breakeven Date Change • Apr 30
Forecast breakeven date pushed back to 2024 The analyst covering SSH Communications Security Oyj previously expected the company to break even in 2023. New forecast suggests the company will make a profit of €1.00m in 2024. Average annual earnings growth of 80% is required to achieve expected profit on schedule. Reported Earnings • Apr 28
First quarter 2023 earnings released: €0.03 loss per share (vs €0.01 loss in 1Q 2022) First quarter 2023 results: €0.03 loss per share (further deteriorated from €0.01 loss in 1Q 2022). Revenue: €4.80m (up 9.1% from 1Q 2022). Net loss: €900.0k (loss widened €800.0k from 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Software industry in Germany. Breakeven Date Change • Apr 27 The analyst covering SSH Communications Security Oyj previously expected the company to break even in 2023. New forecast suggests the company will make a profit of €400.0k in 2023. Earnings growth of 1.9% is required to achieve expected profit on schedule.
Reported Earnings • Feb 24
Full year 2022 earnings released Full year 2022 results: Revenue: €19.3m (up 21% from FY 2021). Net loss: €600.0k (loss narrowed 83% from FY 2021). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Software industry in Germany. Annuncio • Jan 13
SSH Communications Security Appoints Michael Kommonen as New Member of the Executive Management Team, Effective March 1, 2023 SSH Communications Security announced Michael Kommonen has been appointed as the new member of the Executive Management Team. Mr. Kommonen will take up his new position on March 1, 2023, at the latest. He joins the company from AbbVie, where he holds the position of Business Finance Manager. Mr. Kommonen has diverse experience in various analyst and controller positions in large companies such as Oriola, Novo Nordisk, and Schindler. Annuncio • Jan 12
SSH Communications Security Appoints Michael Kommonen as CFO, Effective March 1, 2023 SSH Communications Security announced Michael Kommonen has been appointed as the new CFO of the company and a member of the executive management team. Mr. Kommonen will take up his new position on March 1, 2023, at the latest. He joins the company from AbbVie, where he holds the position of Business Finance Manager. Mr. Kommonen has diverse experience in various analyst and controller positions in large companies such as Oriola, Novo Nordisk, and Schindler. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Sampo Kellomaki is the most experienced director on the board, commencing their role in 2020. Independent Director Christian Fredrikson was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Annuncio • Oct 06
SSH Communications Security Oyj Announces Resignation of Niklas Nordström as Chief Financial Officer Niklas Nordström, Chief Financial Officer of SSH Communications Security Corporation, has resigned from the company and will move to a position outside the company. Mr. Nordström has been employed by SSH Communications Security Corporation and a member of the Leadership Team since 2018. Mr. Nordström will continue in his position until 3 January 2023. The company will immediately launch a search for a new CFO. Reported Earnings • Jul 22
Second quarter 2022 earnings released: €0.01 loss per share (vs €0.03 loss in 2Q 2021) Second quarter 2022 results: €0.01 loss per share (up from €0.03 loss in 2Q 2021). Revenue: €4.50m (up 36% from 2Q 2021). Net loss: €300.0k (loss narrowed 63% from 2Q 2021). Over the next year, revenue is forecast to grow 31%, compared to a 8.6% growth forecast for the industry in Germany. Annuncio • Jul 22
SSH Communications Security Oyj Provides Revenue Guidance for the Full Year of 2022 SSH Communications Security Oyj provided revenue guidance for the full year of 2022. Current year 2022 guidance remains unchanged. Continue business transition from a license and support to a recurring-revenue model, which foresee will provide more stable revenue in the longer term while reducing short-term annual growth rate compared to a perpetual license business model. At the end of 2021, Annual Recurring Revenue was EUR 15.4 million (EUR 8.0 million), which positions well for continued growth. The company expects net sales to grow during 2022 compared to 2021. Annuncio • Jun 17
SSH Communications Security Announces the Release of Tectia Version 6.6 SSH Communications Security announced the release of Tectia version 6.6, The Quantum Safe Edition. Tectia Quantum Safe Edition tackles new rising cyber threats and ensures future-proof data security. A related Edition, Tectia Zero Trust, was already implemented in Tectia version 6.5 in March 2022. These new additions to the Tectia product family will ensure that SSH’s secure remote access solutions are futureproof and meet the challenges posed by quantum computing and cloudification. The new threat customers face is recording attacks on current cryptography. Quantum Computers are not yet usable for breaking encryption, but data traffic can be recorded and decrypted later in a short period of time, compromising secrets with long-term value. With Tectia 6.6, organizations can prepare for new threats and ensure the safety of critical data. Tectia Quantum Safe Edition protects critical remote access, file transfers, and tunneling connections against the quantum threat already. Secure Shell (SSH) protocol enables online connections and file transfers between applications handling critical data. Tectia is the original commercial implementation of the SSH protocol. Tectia Quantum Safe Edition is available to customers from June 15, 2022. Can request a demo or a quote on the product by contacting the SSH team or visiting website. Annuncio • May 02
SSH Launches Tectia Quantum-Safe and Zero-Trust Editions for the Next Wave of Secure Application Communications SSH launched Tectia Quantum-Safe and Zero-Trust Editions for the Next Wave of Secure Application Communications. SSH announced two new editions of their flagship product Tectia SSH Client Server: Tectia Quantum Safe Edition and Tectia Zero Trust Edition. These new additions to the Tectia product family will ensure that SSH’s secure remote access solutions stay agile, dynamic and robust enough to meet the challenges posed by quantum computing and cloudification. Secure Shell (SSH) protocol enables online connections and file transfers between systems handling critical data. Tectia is the original commercial implementation of the SSH protocol, providing secure point-to-point remote access, file transfer and tunneling connections between and to applications. Quantum computing presents challenge to encryption in the near future by threatening to render classic cryptography useless. Even now, transmissions are recorded and then decrypted when Cryptographically Relevant Quantum Computers are available, making long-term secrets vulnerable as the company speak. Tectia Quantum Safe Edition protects critical remote access, file transfers and tunneling connections against the quantum threat. Tectia Zero Trust Edition introduces an efficient role-based access control (RBAC) upgrade to bring scalability to managing access to large server estates. By operating without permanent credentials like SSH keys or passwords, Tectia Zero Trust Edition eliminates the costly process of managing or rotating credentials while also greatly enhancing system security by removing a significant potential attack vector. Additionally, it increases transparency by centralizing system audit logs. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Sampo Kellomaki is the most experienced director on the board, commencing their role in 2020. Independent Director Christian Fredrikson was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Breakeven Date Change • Apr 01
Forecast breakeven date moved forward to 2022 The analyst covering SSH Communications Security Oyj previously expected the company to break even in 2023. New forecast suggests the company will make a profit of €700.0k in 2022. Earnings growth of 93% is required to achieve expected profit on schedule. Reported Earnings • Feb 25
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: €0.10 loss per share (up from €0.11 loss in FY 2020). Revenue: €15.9m (up 41% from FY 2020). Net loss: €2.10m (loss narrowed 49% from FY 2020). Revenue exceeded analyst estimates by 11%. Over the next year, revenue is forecast to grow 27%, compared to a 15% growth forecast for the industry in Germany. Annuncio • Feb 24
SSH Communications Provides Revenue Guidance for 2022 SSH Communications Security Oyj continue business transition from a license and support to a recurring-revenue model, which foresee will provide more stable revenue in longer term, while reducing short-term annual growth rate compared to a perpetual license business model. At the end of 2021, Annual Recurring Revenue was EUR 15.4 million (EUR 8.0 million), which positions well for continued growth. It expects net sales to grow during 2022 compared to 2021. Annuncio • Feb 18
SSH announces new version of PrivX OT Edition available to its industrial and manufacturing customers SSH announced a new version of PrivX OT Edition is now available to its industrial and manufacturing customers. Managing secure remote access to servers, applications, and network devices is the core functionality of PrivX. For these connections, PrivX provides Role Based Access Control (RBAC) with Session Recording and Audit events. Built-in Workflow/approval process enables automating and managing the authorizations Just-in-Time and with Just-Enough-Access. With this new version, its industrial customers can control access to a wider range of OT targets. This improves security and automation in privileged access management to critical OT environments, which enables process optimization and secures uptime in production. Industrial environments often have proprietary systems, e.g., PLCs (Programmable Logic Controller) or DCS (Distributed Control System) that are using proprietary process automation protocols like Modbus, Profibus, PROFINET, and SCADA. Normally secure remote access to these systems is controlled by firewalls and VPN tunnels. These solutions alone do not provide the needed granularity and are complex to maintain due to user-level access management. PrivX OT Edition aligns existing legacy network environment with Zero Trust access control mechanisms leveraging existing Firewall and VPN investments. Network-level Role Based Access Control enables smooth control of automation systems access using protocol-agnostic connections. PrivX OT Edition enables on- and off-site operators and administrators, maintenance staff, and 3rd party vendors a secure and fast, one-click Zero Trust, Just-in-time access to the widest range of OT targets. PrivX OT Edition is a centrally managed system that helps customers to meet their IEC62443 and ISO27001 certification and regulation goals. PrivX OT Edition improves the security posture in operational technology environments in an efficient way. Annuncio • Feb 04
SSH Communications Security SHS to Be Deleted from Other OTC SSH Communications Security Oyj SHS (Finland) will be deleted from Other OTC effective from February 03, 2022, due to Inactive Security. Annuncio • Feb 02
SSH Launches UKM Zero Trust, Next Generation Enterprise Key Management Solution SSH announced UKM Zero Trust (Universal SSH Key Manager®), Zero Trust enabled Enterprise Key Management solution for general availability effective immediately. Secure Shell (SSH) protocol enables online connections and file transfers between systems handling critical data. SSH keys are used to secure systems that manage and transfer personal data, medical records, tax records, money transfers, and more. SSH keys are critical access credentials like passwords, providing system-level access to critical data. UKM Zero Trust takes key management to the next level by enabling customers to use Zero Trust enabled keyless, just-in-time, and just-enough-access certificate-based real-time access management infrastructure. UKM Zero Trust discovers, controls, and audits millions of SSH keys in large enterprise environments and allows migrating to interactive access and automated machine-to-machine connections without static keys. UKM Zero Trust replaces static SSH key connection authentication with short-lived certificate-based connections that are created just-in-time and contain only the keys needed to make the connection. The certificates expire automatically after authentication, leaving no keys behind to manage, share, or lose. Breakeven Date Change • Jan 07
Forecast breakeven date pushed back to 2023 The analyst covering SSH Communications Security Oyj previously expected the company to break even in 2022. New forecast suggests losses will reduce by 78% per year to 2022. The company is expected to make a profit of €1.80m in 2023. Average annual earnings growth of 95% is required to achieve expected profit on schedule. Annuncio • Nov 24
SSH Launches Secure E-Communications Suite for Confidential Emails, Secure Data Collection, and Secure Workspaces SSH has announced the availability of SSH Secure e-communication Suite that helps organizations send, sign, collect and share confidential and sensitive data in a secure fashion. The Suite includes secure and encrypted emails, workspaces, signatures, and digital forms that allow processing information with confidence but without requiring any extra effort from the user. It can protect communications in cloud, on-premises, or hybrid environments. Secure e-communication Suite is part of SSH's Zero Trust solution portfolio. SSH's Zero Trust portfolio provides JIT (Just In Time) and JEA (Just Enough Access) solutions for secure communications, access management, server connections, and digital key management. The first Secure e-communication Suite solutions are already in use by customers. Reported Earnings • Oct 22
Third quarter 2021 earnings released: €0.02 loss per share (vs €0.02 loss in 3Q 2020) The company reported a solid third quarter result with improved revenues and control over costs, although losses increased. Third quarter 2021 results: Revenue: €3.90m (up 50% from 3Q 2020). Net loss: €400.0k (loss widened 33% from 3Q 2020). Breakeven Date Change • Sep 23
Forecast to breakeven in 2022 The 2 analysts covering SSH Communications Security Oyj expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €1.10m in 2022. Average annual earnings growth of 106% is required to achieve expected profit on schedule. Annuncio • Aug 13
SSH.COM Launches Zero Trust Solution Portfolio for Just-In-Time Access Management SSH.COM announced the availability of their Zero Trust solution portfolio for just-in-time access and secrets management for super and power users in IT. The portfolio helps customers to move away from the complexity of managing static credentials like traditional passwords and digital keys to a Zero Trust model where the number of secrets under management is radically reduced and control automated when protecting critical data at rest, in transit and in use. SSH’s Zero Trust solutions are well-suited for companies that want to strengthen their cybersecurity posture while reducing complexity, improving ease of use, and removing operational friction from secrets and access management. With the SSH portfolio, customers can migrate to more secure just-in-time access to critical data, where risky passwords or credentials no longer need to be managed at all in many use cases. SSH Zero Trust non-intrusive solutions can be deployed without major changes to customers’ operating environments or configurations. The portfolio has three key elements: UKM Zero Trust. Discovers, controls and audits millions of SSH keys in large enterprise environments and allows migrating to interactive access and automated system-to-system connections without static keys. TectiaZero Trust: Secure remote access for internal and external superusers from client to server without leaving any static keys or access credentials behind. PrivXOT Zero Trust: Just-in-time access to network devices, databases, applications, code repositories, industrial control systems or targets in the hybrid cloud without leave-behind credentials or passwords to manage. Reported Earnings • Jul 21
Second quarter 2021 earnings released: €0.03 loss per share (vs €0.02 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: €3.30m (up 27% from 2Q 2020). Net loss: €800.0k (loss widened 60% from 2Q 2020). Annuncio • Jul 02
SSH.COM Expands Portfolio to New Market Segments SSH.COM has announced new industry-focused solutions: PrivX MSP (Managed Service Providers) and PrivX OT (Operational Technologies) Editions. PrivX MSP Edition helps Managed Service Providers to improve security and operational scalability by providing privileged access management in their cross-functional data center and hybrid cloud ecosystems that consist of application owners, infrastructure administrators, SW developers, DevOps engineers and third-party experts. PrivX can also provide them new revenue streams through PAMaaS offerings. PrivX OT Edition provides on- and off-site operators, administrators, maintenance staff and 3rd party vendors a secure and fast, one-click access to OT targets, from a centrally managed system, helping the customers to meet their IEC62443 and ISO27001 certification goals. PrivX MSP and PrivX OT Editions provide SSH with a growth potential that is significantly larger than the Traditional PrivX Enterprise IT market alone. PrivX is a lean, quick-to-implement, and easy-to-use access management solution for privileged access in on-premise, hybrid, and cloud environments. PrivX helps clients to flexibly control, monitor and log access to critical data according to user roles and related privileges. Reported Earnings • Apr 29
First quarter 2021 earnings released: €0.05 loss per share (vs €0.01 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: €2.60m (down 16% from 1Q 2020). Net loss: €1.40m (loss widened 250% from 1Q 2020). Executive Departure • Mar 30
Director has left the company On the 25th of March, Aino-Mari Kiianmies' tenure as Director ended after 1.1 years in the role. We don't have any record of a personal shareholding under Aino-Mari's name. A total of 2 executives have left over the last 12 months. Annuncio • Mar 05
SSH Communications Security Oyj Elects Christian Fredrikson to the Board of Directors SSH Communications Security Oyj elected Christian Fredrikson to the Board of Directors. Annuncio • Mar 02
SSH Communications Security Corporation Appoints Rami Raulas as Head of EMEA Region SSH Communications Security Corporation appointed Rami Raulas as Head of EMEA Region. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue misses expectations Revenue missed analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 55%, compared to a 31% growth forecast for the Software industry in Germany. Reported Earnings • Feb 20
Full year 2020 earnings released: €0.11 loss per share (vs €0.056 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: €11.3m (down 21% from FY 2019). Net loss: €2.80m (loss widened 29% from FY 2019).