Finland · Delayed Price · Currency is EUR SSH Communications Security Oyj Earnings Call Transcripts
Fiscal Year 2026
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Net sales rose 6.8% year-over-year in Q2 2026, with PrivX sales up 25% and EBITDA turning positive. Strategic partnerships and analyst recognition are driving growth, while leadership transitions and a shift to subscription models continue.
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EMEA growth and strong PrivX sales offset overall sales decline and negative EBITDA, as investments in R&D and marketing continue. Strategic partnerships and analyst recognition support positive outlook, with net sales and EBITDA expected to improve for the year.
Fiscal Year 2025
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Revenue was flat year-over-year as the business shifted to a subscription model, with 97% ARR. The Leonardo partnership is expected to drive significant growth in 2026, especially in the second half, while PrivX and SalaX products gained traction in key markets.
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Accelerated growth is driven by a strategic partnership with Leonardo, expansion into defense and OT, and a focus on PrivX and NQX as core solutions. Financials show steady growth, a strengthened balance sheet, and a robust pipeline, with regulatory trends and AI innovation supporting future demand.
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Q3 2025 saw 4% net sales growth and strong PrivX momentum, with a EUR 20M investment from Leonardo finalized. New customer wins and product integrations position the company for further expansion, with positive EBITDA and cash flow expected in 2025.
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Net sales grew 5.7% year-over-year, with strong subscription and PrivX sales growth. A strategic partnership and EUR 20 million investment from Leonardo was finalized, supporting expansion in defense and critical infrastructure markets.
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Net sales grew 7.9% year-over-year in Q1 2025, with stable EBITDA and strong subscription growth. PrivX and NQX segments saw double-digit growth, while new partnerships and product launches support expansion, especially in OT and quantum-safe solutions.
Fiscal Year 2024
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Q4 and full-year 2024 saw strong revenue and EBITDA growth, driven by license sales, subscription expansion, and operational streamlining. The company is focused on quantum-safe solutions, defense, and OT markets, with positive outlook for 2025 and ongoing global expansion.
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Q3 2024 saw modest sales growth and stable profitability, with strong momentum in PrivX subscriptions and a growing sales pipeline. NATO and NQX approvals, expanded partner network, and advances in post-quantum cryptography position the company for future growth.
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Net sales grew 4% year-over-year in Q2 2024, with EBITDA improving to EUR 0.5 million. Subscription-based sales now make up 95.5% of business, and new product launches and certifications strengthened the portfolio. Full impact of cost reductions will be seen in Q4.