Finland · Delayed Price · Currency is EUR SSH Communications Security Oyj Earnings Call Transcripts
Fiscal Year 2026
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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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Q2 2024 saw 4% net sales growth and improved EBITDA, driven by cost controls and strong subscription sales, especially in APAC. PrivX and NQX products advanced, with new certifications and customer wins, while organizational restructuring was completed.