It’s no secret that 2024 was a big year of growth for Yubico, highlighted across many notable achievements by our team and increasing demand from our customers. As discussed in my previous post, following a transformative year driven by key cybersecurity trends like passkeys and AI, the year culminated in the significant step of Yubico moving to the main NASDAQ Market in Stockholm.
As we officially close out 2024, I’m excited to reflect on our Q4 achievements and the year as a whole. 2024 truly was an extremely successful year for Yubico – and that success by our team is something I’m extremely proud of celebrating. I’m particularly proud of having achieved many key milestones that reinforce our commitment to delivering industry-leading phishing-resistant multi-factor (MFA) authentication solutions for our customers – and I look forward to continuing this momentum in 2025.
Key takeaways and achievements from a successful Q4 and 2024
Yubico has solidified its position as a global leader in identity security through strategic initiatives, market expansion, and key partnerships over the past year. In late 2023, we partnered with T-Mobile to deploy over 200,000 YubiKeys, replacing legacy authentication for employees, vendors, and retail partners. This move highlights how enterprises can effectively scale passkey deployments to combat evolving security threats like AI-driven phishing attacks.
The impact of YubiKeys has extended from large enterprises and SMBs, to city governments, and individuals at highest risk in journalists. I’m extremely proud of the stories around the world we’ve been able to tell in these areas – from Freedom of the Press Foundation, Louis in Germany, City of Southgate in Michigan, and Carers ACT in Australia.
I expect to see similar continued adoption of passkeys across all industries in 2025 as governments and enterprises around the world continue looking for the most effective solution to stop the biggest threat facing businesses today: stolen login credentials via phishing. To help organizations achieve phishing-resistance, last year we announced many new products and services for enterprises: Yubico Enrollment Suite for Okta and Microsoft users, as well as enhancements to YubiKey as a Service to quickly deploy pre-registered YubiKeys and stop phishing attacks throughout the user account lifecycle.
As adoption of biometric logins continues to increase globally, we also released YubiKey Bio Series – Multi-protocol Edition keys to expand authentication options for our customers. All of these technologies and integrations – with many centered around strong partnerships – empower businesses and individuals with the technology to build a stronger defense against evolving phishing threats..
Lastly, it was an honor for Yubico to be recognized as one of TIME Magazine’s 100 Most Influential Companies of 2024 as well as a Fast Company’s Most Innovative Companies for 2024. Both awards are true testaments to our team’s dedication and the global support for our mission to make the internet safer – and we look forward to continuing this mission in 2025.
Moving to the main Nasdaq Stockholm market: New opportunities for investors
Transitioning from Nasdaq First North Growth Market to Nasdaq Stockholm was a major achievement for Yubico, fulfilling a commitment we made when going public in 2023. This achievement proves Yubico’s commitment to growth, enabling a broader investor base, and strengthens our reputation with customers, partners, and stakeholders worldwide.
Opportunities and key areas for Yubico’s growth in 2025
As we move into 2025, Yubico remains committed to making the internet safer for everyone. With phishing-resistant MFA becoming the global standard, our next goal is to protect users throughout their digital lifecycle. Our strategy focuses on three key areas:
- Expand: Strengthen our global presence, refine market strategies, and deepen partnerships to ensure efficient YubiKey distribution.
- Simplify: Enhance user experience by streamlining adoption through innovations like our Enrollment Suite and strategic partnerships.
- Evolve: Explore opportunities in digital wallets, identity verification, and credential management to meet the growing demand for comprehensive security solutions on an exciting journey ahead.
On a global scale, we’ve seen continued momentum of government cybersecurity regulations around phishing-resistant MFA in the APJ region. This includes the Scams Prevention Framework Bill in Australia and the Shared Responsibility Framework in Singapore.
These regulations follow similar policies in other countries such as the recent cybersecurity executive order in the U.S., the EU’s NIS2 Directive and the Digital Operational Resilience Act (DORA), the demand for phishing-resistant authentication solutions like the YubiKey continues.
With cybersecurity gaining increasing attention amid increasing threats from sophisticated attacks driven by AI, Yubico is well-positioned to lead in identity protection. We look forward to working with our teams, partners, and customers to shape the future of secure authentication.
