Q2 2025 WithSecure Oyj Earnings Call Transcript
Key Points
- WithSecure Corp (FRA:DTV0) launched new extensions to their Elements Cloud and co-security services, enhancing exposure management and detection capabilities.
- The company achieved a 13% growth in Elements Cloud and co-security services, driven by new products and partnerships.
- WithSecure Corp (FRA:DTV0) successfully divested its Malaysian entity, establishing LS Systems as a preferred distributor in the region.
- The company reported a positive adjusted EBITDA, marking a significant improvement from the previous year.
- WithSecure Corp (FRA:DTV0) is seeing increased demand for European cybersecurity solutions, particularly in the public sector, due to discussions around digital sovereignty.
- The company experienced a 22% decline in managed services revenue due to churn from large enterprise customers.
- WithSecure Corp (FRA:DTV0) reported only a 3% growth in annual recurring revenue (ARR), impacted by managed services decline.
- Foreign exchange effects negatively impacted the ARR for Cloud Protection for Salesforce by approximately 400k.
- The company faces challenges in transitioning from large enterprise customers to a mid-market focus, impacting revenue.
- Despite groundwork and partnerships, the positive impacts are not yet fully reflected in the financial numbers.
Very good afternoon from the very warm and sunny Helsinki, and welcome to WithSecure. My name is Laura Viita, I am the Investor Relations Director of WithSecure and happy to wish you welcome to the second quarter of 2025 results release.
Today, we will first have our CEO, Antti, talk through the business highlights, especially the breakthroughs made in the proactive threat management with our new tools and other things, of course. After Antti, there's going to be the CFO, Tom, talking through the financials of the quarter.
We will have questions and answers at the end. If you have questions, you can send them over the webcast all the time. I will take them up with the presenters at the end.
So warmly welcome and with this, I am handing over to the President and CEO of WithSecure, Antti Koskela.
So thank you, Laura. So first, I would like to go through the strategy and then I go to the financials
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