As 2024 draws to a close, it’s the perfect time to reflect on the incredible journey we’ve had this year and how it has shaped where we stand today as a company. To mark this moment, I sat down with our CEO, Mattias Danielsson, to look back on the milestones and achievements of 2024—culminating in a significant step forward: our move to the main NASDAQ Market in Stockholm.
A lot has happened in 2024, but what moments really stick out?
2024 has been a transformative year for Yubico, driven by key cybersecurity trends like AI-driven cyberattacks, heightened regulatory standards, and the global push to protect critical infrastructure. With stricter policies such as the EU’s NIS2 Directive, the new Digital Operational Resilience Act (DORA) in the EU and the U.S. National Cybersecurity Strategy, the demand for phishing-resistant authentication solutions like the YubiKey continues. Beyond login security, Yubico is shaping the future of digital identity, contributing to initiatives like the European Digital Identity (EUDI) Wallet and Germany’s ID project.
At the heart of this transformation is a simple yet profound mission: making the world more secure through modern YubiKey authentication. This year, we supported over 4,500 customers— including 30% of the Fortune 500 companies—by empowering them with the tools to stay ahead of threats. Our impact can be measured in the numbers: our net sales have grown by 30%, increasing from $165.6M USD to $214.6M USD in the last twelve months. Businesses worldwide are making YubiKey the cornerstone of their cybersecurity strategies.
With a majority of cyber attacks resulting from stolen login credentials via phishing, it’s never been more important for businesses to act now by prioritizing secure authentication methods where users verify their identity during the login process. YubiKeys are the gold standard for phishing-resistance in the form of device-bound passkeys, and I expect to see continued adoption into 2025 as businesses look to stay secure while adhering to government regulations across the globe around cybersecurity. However, it’s also become clear that organizations must go beyond investing in phishing-resistant authentication tools—they need to focus on creating phishing-resistant users.
To help organizations achieve this goal, we announced Yubico Enrollment Suite for Okta and Microsoft users, and enhancements to YubiKey as a Service to empower enterprises to quickly deploy pre-registered YubiKeys, to deliver cyber resiliency and halt phishing attacks throughout the user account lifecycle. This eliminates critical points where businesses may otherwise be exposed to hijack, such as onboarding, authentication and account recovery. Okta even just published this infographic, which highlights their fantastic results from early adoption of Yubico FIDO Pre-reg for a global roll out of YubiKeys. Furthermore, in our Forrester TEI report, Yubico products and services are proven to provide immediate value to enterprises, with over 200% ROI and payback in 11 months.
We also recently released the new YubiKey Bio Series – Multi-protocol Edition keys to expand phishing-resistant authentication options for enterprises as adoption of biometric logins continues to increase globally. All of these technologies and integrations empower businesses and individuals with the technology to build a stronger defense against evolving threats while seamlessly moving toward phishing-resistance at scale.
What does moving to the main market mean for the company and the cybersecurity community?
Going from Nasdaq First North Growth Market to the Nasdaq Stockholm Main Market is a significant step for us. This transition opens doors to a broader, more international investor base, boosting liquidity and investment opportunities. It also enhances brand visibility and provides better access to financing for growth. We are elevating Yubico’s profile and positioning us for even bigger opportunities
When we announced our plans to go public in 2023, we also shared our ambition to make this move. It is incredibly gratifying to have now delivered on that promise.
I would like to extend my sincere thanks to our supporters for their trust in Yubico. This is only the beginning of an exciting journey, and we look forward to continuing to lead the way in secure authentication while creating value for our shareholders and customers worldwide.
Cybersecurity incidents can have direct consequences on investor confidence. How can companies ensure they’re not just protecting their assets but also maintaining trust with their investors?
Cybersecurity isn’t just a technical challenge—it’s a critical business priority that can impact investor confidence overnight. To protect both assets and trust, companies must build a strong cybersecurity foundation with advanced threat detection, regular assessments, and compliance with industry standards. Just as important, fostering a culture of cybersecurity across all levels ensures that employees understand their role in safeguarding data, while leadership integrates security into the core business strategy.
Transparency also plays a vital role in maintaining trust. Investors value honesty and accountability. Communicating openly about the steps being taken, and treating cybersecurity as an ongoing investment—not just a one-time expense—signal a company’s commitment to security.
What are you looking ahead to in 2025?
With cyberattacks like phishing becoming even more sophisticated and generative AI playing a big role in the success of these attacks, it’s more important than ever that businesses and individuals use phishing-resistant MFA and identity-based authentication methods that require something you have, something you know and something you are, to gain access to accounts. As the efficacy of identity measures that companies have trusted for decades such as voice verification and video verification erodes, strongly linked electronic identity is even more important. Credentials that are hardware-backed and purpose-built around cryptographic principles, like the YubiKey, are perfect in these situations.
Looking into 2025, I expect the continued adoption of device-bound passkeys globally. In fact, Gartner highlighted the increasing growth and expected adoption of device-bound passkeys in their recent 2024 Hype Cycle for Digital Identity report. The increasing popularity and use of passkeys have exploded over the past year due to their widespread adoption by the world’s largest tech companies – who also happen to be the most used identity providers collectively – as millions of users begin to make the shift. Device-bound passkeys are so effective because it reduces the burden on users to make the right choices and not hand over their credentials during a phishing attempt.
As our customers continue embracing YubiKeys to secure their businesses and their own customers via B2B2C globally, I’m also looking forward to helping them deploy YubiKeys as quickly and easily as possible through our YubiKey as a Service and Yubico Enrollment Suite services, including Yubico FIDO Pre-reg and YubiEnroll. Through these new services, organizations are able to seamlessly adopt YubiKeys at scale by easing the burden on IT staff to easily enroll YubiKeys on behalf of users. Phishing-resistant users build phishing-resistant enterprises, and Yubico will continue to be the best partner to help our customers take on the increasing challenge of cyber threats.
Disclaimer: This article is sourced from the official Yubico website. As official partners of Yubico, we have obtained permission to utilize both articles & resources for further updates with regards to Yubico’s products.
