Key Takeaways Transition to subscription-based sales and broader identity solutions positions Yubico for stronger margins, recurring revenue, and increased customer retention. Escalating demand from regulation and cyber threats, combined with early penetration in large enterprises, provides a runway for sustained market and earnings growth.Read more
Key Takeaways Rapid enterprise adoption, regulatory drivers, and new tech use cases position Yubico for outsized, sustained revenue growth and market share gains. Transition to subscription models and leadership in hardware-based authentication ensure recurring revenues, margin expansion, and strong pricing power.Read more
Key Takeaways Increasing adoption of device-based authentication and OS-level security threatens Yubico's hardware key market, potentially reducing revenue growth and compressing margins. Shifting to subscriptions introduces revenue volatility and dependency on renewals, while market concentration and weak diversification heighten risks from competition and tech shifts.Read more
Yubico AB provides authentication solutions for use in computers, networks, and online services. The company offers YubiKey 5, YubiKey 5 FIPS, YubiKey Bio, and security key series hardware products. It also provides YubiHSM, a hardware security module application for protection of cryptographic keys in servers and computing devices; Yubico enrollment suite, a solution for a complete registration and configuration service of YubiKeys; Yubico authenticator, a software-based solution for authenticating users of software applications on computers and cellphones; and software development kits. In addition, the company offers YubiEnterprise delivery, a service that streamlines the distribution of YubiKeys to end users; YubiCloud, a web service for verifying one-time passwords; and computer login tools. It serves technology, financial services, cryptocurrency, retail and hospitality, pharmaceuticals, education, healthcare, federal government, state and local government, manufacturing, elections and political campaigns, energy and natural resources, telecommunications, and federal systems integrators. The company operates in Sweden, the Americas, the Asia Pacific, rest of Europe, the Middle East, and Africa. Yubico AB was founded in 2007 and is headquartered in Stockholm, Sweden.
