As we officially close out the first quarter of 2025, I am pleased we saw a quarter with solid growth and profitability along with ongoing demand for phishing-resistant authentication. We continue to see new types of high-profile cyber attacks appearing regularly, and a major reason for the success of phishing attacks is stolen credentials. As the leader of phishing-resistant authentication, Yubico remains committed to making the internet more secure and helping enterprises be confident in the security of their entire workforce.
I’m also pleased to see our resilience amid challenging environments, global uncertainty and a market characterized with cautious decision-making. While global trade dynamics remain complex, Yubico’s business model has proven resilient. With local manufacturing in Sweden and the U.S., we are well-positioned to mitigate tariff impacts and adapt our supply chain swiftly as needed. This flexibility enables the company to continue delivering with minimal disruption – even amid macroeconomic shifts.
Continued growth across critical infrastructure
We’re seeing continuous momentum across key sectors like telecom, financial services, and the public sector – industries that form the backbone of critical infrastructure. With critical infrastructure around the world continuing to be a prime target for threat actors, phishing and credential theft are among the most common tactics used to gain unauthorized access. As these threats grow more advanced, phishing-resistant authentication has never been more essential.
Our recent growth within the telecom space is especially exciting. We’re now partnering with three of the four largest telecom providers in the U.S. – and we are honored to be trusted as a core partner in protecting them. We had other standout moments, including the City of Munich announcing its city-wide deployment of YubiKeys for employee authentication, as well as a major high-security rollout in Canada’s public sector. These milestones underscore what Yubico does best: delivering reliable phishing-resistant security at scale.
Building on momentum for a strong future ahead
The beginning of 2025 saw Yubico honored with multiple industry award recognitions, including ‘Best Security Company of the Year’ in the Cyber Security Awards and Cybersecurity New Product Launch of the Year in the teissAwards for the YubiKey Bio Series – Multi-protocol Edition. These recognitions signify many recent notable achievements and significant product innovations, and Yubico recognizes the unwavering continued support from our customers around the world.
Finally, we announced Snejana Koleva as our incoming Chief Financial Officer – who will officially be joining the company later this year. With a planned transition alongside Camilla Öberg, we’ll be ensuring continuity and strong financial leadership as we move forward.
Looking ahead, we remain extremely optimistic about our goals and ability to execute delivering world-class security solutions to customers globally. Our unique capabilities, trusted relationships, and commitment to phishing-resistant security position us well to keep growing, even in uncertain times.
