The CEO Matthias Danielsson at the IT security company Yubico is proud of its company, which as recently as mid-February was praised for another strong year in 2023.
– There is a very strong demand for IT security products. And that is unfortunately due to the fact that the threat picture is sky-high for large companies and authorities. Cyber attacks are an entire industry, he says News24.
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Private individuals can also use
Yubico’s product is a multi-factor authentication for secure logins to companies and authorities – but can also be used by private individuals.
– We are the world leader in our segment. We have developed a unique solution and our talented technicians are the best in the world, he says.
It seems that the market agrees that the company is worth praising. The target value for the stock has been raised and the share price is still on the way up.
The company’s valuation rises. In 2022, Yubico had a turnover of almost SEK 1.6 billion, employed over 400 people, and nineteen of the twenty largest technology giants in the United States use security solutions from Yubico.
In 2023, turnover rose to SEK 1.84 billion.
“Hard core technology”
It is important to Danielsson that there is actual value in their solution – not some financial structural ruse.
– The value of the company is hard core technology that keeps the hackers away. The stock market can go up and down, but the companies that use our product have zero successful hacker attacks against them, he says.
There are of course theoretical exceptions – a bank, authority or a large company could be infiltrated and insiders who “open the door” for the cyber crooks.
No lock in the world is particularly secure if someone opens the door from the inside.
The stock up 167 percent
The share traded for SEK 222 each on Friday afternoon. That is 127 percent more than a year ago.
Turnover last year increased by 19.5 percent, which, however, missed the newly communicated target of 25 percent, wrote You.
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