Yubico Statistics 2026: Growth Numbers That Matter

Yubico has become one of the most recognized cybersecurity companies in the authentication market, helping organizations reduce account takeovers through hardware security keys and passwordless login technologies. Its products support enterprise security programs, government identity initiatives, and large-scale Zero Trust deployments across industries. As cyberattacks continue to rise and passkeys gain momentum, Yubico’s financial performance and market position provide valuable insight into the future of authentication. Explore the latest Yubico statistics, revenue figures, market trends, and industry benchmarks below.

Editor’s Choice

• Yubico reported SEK 2.326 billion in net sales during 2024, up 27.3% from SEK 1.827 billion in 2023.
• Gross profit reached SEK 1.898 billion in 2024, compared with SEK 1.459 billion a year earlier.
• Adjusted EBIT increased to SEK 437.5 million in 2024, representing an EBIT margin of 18.8%.
• Q1 2025 net sales grew 24.9% year over year to SEK 623.1 million.
• Annual Recurring Revenue (ARR) reached SEK 391 million at the end of 2025, growing 20.7% year over year.
• Yubico’s shares began trading on Nasdaq Stockholm on December 5, 2024 under the ticker YUBICO.
• As of June 2026, Yubico’s market capitalization was approximately $500 million.
• Three of the four largest U.S. telecom operators rely on Yubico for phishing-resistant authentication.
• Subscription revenue represented 17.2% of total sales in Q4 2025, up from 11.9% a year earlier.

Recent Developments

• Yubico published its Annual Report 2025 in April 2026, highlighting continued investment in passwordless authentication and subscription services.
• ARR increased 32% year over year during Q3 2025 despite softer hardware sales.
• Subscription revenue accounted for 16% of net sales during Q3 2025.
• The City of Munich expanded deployment of YubiKeys for employee authentication across municipal operations in 2025.
• A Canadian public-sector organization selected Yubico for a large-scale authentication rollout during 2025.
• Yubico reported that Asia-Pacific represented 9% of total revenue in Q4 2025, up from 5% in the prior-year period.
• Growth in India contributed significantly to Yubico’s Asia-Pacific expansion during 2025.
• Gross retention rate exceeded 99% during 2025, reflecting strong customer retention.
• Net retention rate reached 102.6%, indicating expansion within existing customer accounts.

Yubico Quarterly Sales Growth and Profitability Metrics

• Q1 2025 net sales reached SEK 623.1 million, up 24.9% from Q1 2024.
• Local-currency sales growth in Q1 2025 measured 22.4%.
• Q4 2024 revenue totaled SEK 623.0 million, increasing 12.2% year over year.
• Q4 2024 adjusted EBIT reached SEK 110.9 million.
• Q3 2025 net sales declined 7% year over year to approximately SEK 547.5 million.
• Q4 2025 revenue declined 12% year over year to SEK 548.3 million.
• Q4 2025 subscription revenue increased 26.6% year over year to SEK 94.1 million.
• Q4 2025 gross margin was 75.5%, compared with 84.1% in the previous year.
• ARR expanded from SEK 324.1 million to SEK 391.0 million during 2025.

Yubico Revenue and Annual Financial Statistics

• Annual net sales increased from SEK 1.827 billion in 2023 to SEK 2.326 billion in 2024.
• Revenue growth in 2024 reached 27.3%, one of the strongest annual increases in the company’s history.
• Gross profit climbed 30.1% year over year to SEK 1.898 billion in 2024.
• Gross margin improved from 79.8% in 2023 to 81.6% in 2024.
• Adjusted EBIT increased from SEK 266.2 million in 2023 to SEK 437.5 million in 2024.
• EBIT margin expanded from 14.6% to 18.8% during 2024.
• Full-year 2025 revenue totaled SEK 2.218 billion, reflecting a 4.7% decline compared with 2024.
• Underlying 2025 revenue growth remained positive at 1.4% when currency effects were excluded.
• Trailing twelve-month revenue in 2026 was approximately $220 million.

Yubico Market Capitalization and Valuation Data

• Yubico completed its public market listing on Nasdaq Stockholm in December 2024.
• As of June 2026, the company carried a market capitalization of approximately $500 million.
• Alternative market estimates placed Yubico’s valuation between $470 million and $500 million during early 2026.
• Market capitalization declined more than 60% year over year entering mid-2026.
• The company’s P/E ratio stood at 24.9x in May 2026.
• Yubico ended 2024 with a P/E ratio of 56.4x.
• Enterprise value was estimated at approximately 3.78 billion SEK in June 2026.
• Yahoo Finance data showed market capitalization near $423 million during Q1 2026.
• Analysts reduced fair-value estimates from SEK 100 to SEK 80 in 2026 amid more conservative growth assumptions.

Yubico Quarterly Bookings by Deal Size Statistics

• Total bookings fell to SEK 391 million in Q1 2026, down 44.5% from SEK 705 million in Q4 2025.
• Under $1M deals dominated Q1 2026, contributing SEK 360 million, or about 92% of total bookings.
• Mid-sized bookings ($1M–$3M) reached only SEK 31 million in Q1 2026, the lowest level in the period shown.
• No bookings above $3 million were recorded in Q1 2026, highlighting a lack of large enterprise deal closures.
• Q4 2024 delivered the highest total bookings at SEK 771 million, driven by SEK 197 million in large deals.
• Small deals under $1M peaked at SEK 572 million in Q4 2025, the highest quarterly figure on record.
• Large bookings above $3M accounted for SEK 164 million in Q1 2024, but declined to zero by Q1 2026.
• Q2 2024 generated SEK 673 million in bookings, with SEK 423 million coming from sub-$1M transactions.
• Q2 2025 saw a rebound to SEK 622 million in total bookings, including SEK 132 million in large deals.
• YubiKey as a Service represented 12% of total bookings during Q1 2026, according to Yubico.

Yubico Market Share and Industry Competitor Statistics

• Three of the four largest U.S. telecom providers utilize Yubico authentication solutions.
• Subscription revenue jumped from 11.3% in 2024 to 17.2% of sales by Q4 2025.
• Gross customer retention consistently exceeded 99%, reflecting a strong competitive position.
• Net retention surpassed 102% as existing customers continued expanding their usage.
• Annual Recurring Revenue (ARR) grew by 20.7% during 2025 despite economic caution.
• Asia-Pacific revenue contribution nearly doubled from 5% to 9% between Q4 2024 and Q4 2025.
• The estimated market share for Yubico is projected to reach approximately 22.49% in 2025.
• The United States holds the largest Yubico customer base globally with a 48.02% share.
• The Information Technology and services sector accounts for 62% of their total usage share.
• Over 1,147 companies globally have successfully integrated Yubico for their two-factor authentication.

YubiKey Sales and Shipment Statistics

• Yubico generated SEK 2.22 billion in net sales during 2025, with hardware security keys continuing to account for the majority of revenue.
• Product revenue represented approximately 83% of total sales in Q4 2025, while subscription offerings accounted for the remaining share.
• Yubico has sold millions of YubiKeys globally, supporting deployments across enterprise, government, and consumer markets.
• The company serves customers in more than 160 countries, demonstrating broad international distribution of YubiKey products.
• North America remained the largest market in 2025, contributing roughly 69% of quarterly revenue.
• Europe accounted for approximately 22% of Q4 2025 revenue, making it Yubico’s second-largest regional market.
• Asia-Pacific increased its revenue contribution from 5% in Q4 2024 to 9% in Q4 2025, indicating rising shipment volumes across the region.
• Large enterprise orders continued to drive shipment growth, particularly among telecommunications, financial services, and government organizations during 2025.
• YubiKey deployments expanded further as organizations accelerated migrations from SMS-based authentication to phishing-resistant security keys.

Yubico Top Industries and Business Sector Usage Stats

• Information Technology and Services accounts for the largest portion with a massive 62% of the overall usage share.
• The Computer Software sector represents the second-largest adopter by making up 40% of the industry deployment.
• Financial Services institutions comprise a significant 27% of the global usage share for secure authentication.
• The Internet sector heavily relies on these solutions and contributes to 18% of the hardware authentication deployments.
• Computer & Network Security organizations consistently adopt security keys to represent 14% of the usage distribution.
• Higher Education institutions make up 9% of the usage to effectively protect critical faculty and student accounts.
• Hospital & Health Care providers account for 7% of the overall usage to secure confidential digital patient records.
• Retail organizations also maintain a steady 7% share in the widespread adoption of hardware security solutions.
• Government Administration, along with Defence & Space agencies, each accounts for 6% of the total deployment share.
• The United States dominates the global market footprint with 436 clients to account for 48.02% of total adoptions.

Yubico Customer Size and Enterprise Usage Metrics

• Yubico serves enterprise organizations with workforces exceeding 100,000 employees.
• The company maintained a gross retention rate above 99% throughout 2025.
• Existing customer expansion drove net retention to approximately 102.6%.
• Solutions are utilized by three of the four largest U.S. telecommunications providers.
• YubiKeys are deployed by several Fortune 500 companies for enhanced employee authentication.
• Subscription ARR significantly grew to SEK 391 million by the close of 2025.
• Strong expansion maintained a net retention rate above 100% despite 2025 macroeconomic headwinds.

Yubico Passwordless Adoption and Zero Trust Access Trends

• Password attacks currently exceed 7,000 attacks per second, driving massive interest in passwordless authentication.
• Over 15 billion user accounts globally now actively support secure passkey-based authentication.
• Yubico subscription revenue grew to 17.2% of their total quarterly revenue by Q4 2025.
• An ARR growth of 20.7% in 2025 reflects the surging enterprise demand for passwordless solutions.
• Roughly 75% of global consumers are now fully aware of passkeys as a secure login method.
• Passkey authentication usage doubled year-over-year, reaching 1.3 million authentications per month in 2025.
• Approximately 65–70% of organizations are projected to adopt Zero Trust as a core security strategy by 2026.
• Over 87% of organizations adopting Zero Trust architectures report a significant reduction in security incidents.
• Businesses actively implementing Zero Trust experience up to 50% faster threat detection and response times.
• The global Zero Trust Security market is rapidly expanding and is projected to reach $49.43 billion in 2026.

Yubico Customer Distribution by Country

• The United States leads Yubico’s customer base with 494 customers, accounting for 39.77% of all customers.
• South Africa ranks second with 282 customers, representing 22.71% of Yubico’s customer base.
• Germany holds third place with 192 customers, contributing 15.46% of total customers.
• The United Kingdom has 67 customers, making it the fourth-largest Yubico market in this dataset.
• France follows closely with 59 customers, highlighting Yubico’s presence in Western Europe.
• Brazil accounts for 37 customers, demonstrating the adoption of Yubico solutions in Latin America.
• Canada records 36 customers, rounding out the top seven countries by customer count.
• The top three countries collectively account for 968 customers, representing the vast majority of Yubico’s customer base.

Passkey and FIDO Authentication Statistics

• An estimated 5 billion passkeys are now in active use globally across consumer and enterprise environments.
• 90% of global consumers are now aware of passkeys, reflecting a substantial increase in familiarity.
• 75% of users have successfully enabled a passkey on at least one online account.
• 68% of organizations are actively deploying, piloting, or rolling out passkeys for employee authentication.
• 82% of organizations consider implementing fully passwordless authentication as their ultimate workforce goal.
• 47% of consumers are likely to abandon a purchase or sign-in when they forget their password.
• Passkey implementations can reduce credential-related IT support calls by up to 70%.
• Passkeys currently achieve a 93% login success rate, significantly outperforming standard passwords and OTPs.

Multi-Factor Authentication Usage Statistics

• Global workforce MFA adoption officially reached 70% as of early 2025.
• Deploying phishing-resistant MFA actively blocks over 99% of identity-based attacks.
• The technology sector currently leads all industries with an 87% MFA adoption rate.
• Globally, only 35% of small to medium-sized businesses have implemented MFA.
• A concerning 61% of organizations still leave at least one root user without MFA.
• Push notifications remain the preferred MFA method, holding a 29% adoption rate.
• Biometric authentication factors are projected to be in 45% of MFA implementations.
• Phishing-resistant authenticators allow users to log in 50% faster than passwords.
• The retail sector experienced the largest year-over-year MFA growth by rising 9%.

Yubico Usage Among Leading U.S. Companies

• Amazon.com, Inc. is the largest Yubico user in this group, generating over $1 billion in revenue with more than 10,000 employees.
• Magellan Health Inc. also reports over $1 billion in revenue and maintains a workforce of 5,000 to 10,000 employees.
• BitGo operates with $100 million to $200 million in revenue and employs 200 to 500 people.
• Dito is the smallest company listed, generating $1 million to $10 million in revenue with 50 to 200 employees.
• The dataset shows Yubico adoption across organizations ranging from small businesses with 50 employees to enterprises with over 10,000 employees.
• Among these companies, revenue spans from $1 million to more than $1 billion, highlighting Yubico’s reach across diverse business sizes.

YubiKey Authentication Speed and Productivity ROI

• Users authenticate 80% faster with hardware keys compared to traditional legacy MFA methods.
• Organizations achieve a 265% return on investment over a standard three-year deployment period.
• Deploying hardware keys reduces an enterprise’s exposure to addressable breach costs by 99.99%.
• Enterprises save an average of $476,000 by completely eliminating password-related help desk tickets.
• Accelerated login workflows generate up to $2.2 million in overall workforce productivity value.
• IT support teams experience up to a 90% reduction in total access-related ticket volume.
• Companies save $912,000 in operational labor by avoiding the investigation of credential-based attacks.
• Phishing-resistant rollouts deliver a net present value of $5.3 million for a 5,000-employee enterprise.
• Passwordless workflows reduce overall login times by up to 75% compared to traditional password-based access.
• Eliminating manual entries saves the average employee 11 hours per year in password management tasks.

Yubico Help Desk Savings and Cost Reduction Data

• A single password reset costs an average of $70 in labor and productivity losses.
• Password-related tickets account for 20% to 50% of large enterprise help desk requests.
• Passwordless authentication reduces password reset requests by more than 75%.
• Deploying security keys reduces help desk support calls by up to 92%.
• Hardware-backed authentication cuts credential-based attack risk by 99.99%.
• Security key deployments achieve a 265% return on investment over a 3-year period.
• Organizations typically reach full investment payback in just 8 months.
• Users authenticate 80% faster using security keys compared to legacy multi-factor authentication.
• Enterprises save an estimated $476,000 in help desk costs from fewer password resets.

Account Takeover Risk Across MFA Methods

• Security keys (YubiKey) provide the strongest protection, with an account takeover risk of 0%.
• On-device prompts (OTP push apps) reduce takeover risk to just 10%, making them significantly safer than SMS-based methods.
• Using a secondary email for authentication results in a 21% account takeover risk.
• SMS codes carry a relatively high account takeover risk of 24%, highlighting their vulnerability to attacks.
• Authentication based on a phone number has the highest risk at 50%, making it the least secure MFA option shown.
• The gap between Security keys (0%) and phone number authentication (50%) demonstrates a 50 percentage point difference in security effectiveness.
• Hardware-based MFA methods outperform email and SMS authentication in preventing unauthorized account access.
• Organizations seeking stronger security can significantly lower account takeover risks by adopting YubiKey-style security keys instead of phone-based verification methods.

YubiKey Phishing Resistance and Security Effectiveness Stats

• Research shows that multi-factor authentication prevents over 99.9% of automated account compromises.
• Deploying YubiKeys yields a 265% return on investment over a three-year enterprise period.
• Utilizing hardware security keys reduces addressable breach risk exposure by an estimated 99.99%.
• Employees authenticate 80% faster using phishing-resistant hardware keys than with legacy methods.
• Organizations save roughly $476,000 by completely eliminating standard password-reset help desk tickets.
• Moving to hardware-backed authentication saves users an average of 30 minutes per quarterly policy update.
• Large-scale deployments of FIDO security keys have resulted in zero confirmed account takeovers.
• Avoiding the necessary investigation of credential-based attacks saves businesses $912,000 in labor costs.
• Despite advanced AI threats, 41% of users globally still rely on vulnerable SMS-based authentication.

YubiKey Form Factor and Authentication Protocol Trends

• The global hardware security modules market is estimated to reach $1.82 billion in 2026.
• USB-based security keys are projected to capture a significant 40% market share by 2026.
• Enterprise clients deploying YubiKeys realized a massive 265% return on investment over three years.
• Utilizing physical security keys reduced organizational breach risks from addressable attacks by 99.99%.
• Over 53% of users have successfully enabled modern FIDO2 passkeys on at least one account.
• The banking and financial sector accounts for 26% of the total FIDO authentication market share.
• Nearly 74% of surveyed organizations plan to proactively increase spending on multi-factor authentication.
• Despite new hardware protocols, 56% of enterprise employees still rely on passwords for work accounts.
• The broader FIDO authentication market is anticipated to grow at an impressive 18.3% CAGR through 2035.

Yubico Customer Satisfaction and Peer Insight Ratings

• Yubico maintained a gross retention rate above 99% in 2025, indicating strong customer satisfaction.
• The net retention rate reached approximately 102.6%, showing customers continue expanding deployments.
• Customers report an average score of 4.4 out of 5 for ease of deployment of YubiKey solutions.
• Users consistently rate Yubico 4.5 out of 5 for overall capability as a phishing prevention control.
• Over 58% of enterprise reviewers give Yubico a perfect 5-star rating for reducing support incidents.
• An impressive 89% of customers are willing to recommend Yubico for its positive operational outcomes.
• IT professionals give YubiKey an average rating of 8.6 out of 10 for improving compliance readiness.
• Users give a 4.4 out of 5 rating for integration capabilities with major identity providers.
• Yubico’s subscription net sales grew by 29%, driven by high renewal and expansion rates.

Frequently Asked Questions (FAQs)

Conclusion

Yubico continues to strengthen its position in the authentication market as organizations accelerate passwordless security adoption and Zero Trust initiatives. During 2024 and 2025, the company delivered strong revenue performance, expanded recurring subscription revenue, and maintained customer retention above 99%. At the same time, passkey adoption, FIDO authentication standards, and phishing-resistant MFA have moved into the mainstream across enterprises, governments, and critical infrastructure sectors.

The statistics throughout this report highlight several important trends: growing demand for passwordless authentication, increasing enterprise investment in hardware-backed security, rising adoption of passkeys, and measurable reductions in help desk costs and phishing risks. As cyber threats continue evolving, Yubico remains well-positioned to benefit from the global shift toward stronger identity security and passwordless access technologies.