WithSecure Oyj

WithSecure Corporation has announced its financial reporting schedule for 2025. The company will observe a 21-day silent period before releasing financial reports, during which it will not discuss its financial position with capital market representatives or the media. The Annual General Meeting is set for Tuesday, March 18, 2025, and will be convened by the Board of Directors. For more information, contact Laura Viita, Vice President of Controlling, Investor Relations, and Sustainability at WithSecure Corporation.

WithSecure Corporation has announced a new medium-term financial target for its Elements Company segment, aiming to become a "Rule of 30+" company over the next three years (2025-2027). This target involves reaching a sum of components that exceeds 30. The company clarified that this target should not be viewed as market guidance for any specific year. For further information, contact Laura Viita, Vice President of Controlling, Investor Relations and Sustainability at WithSecure Corporation.

WithSecure Corporation announced an Investor Day for investors and analysts on Friday, November 22, 2024, starting at 9:00 am EET. The company's management will present WithSecure’s strategic priorities and medium-term financial targets. A live webcast of the event will be available, allowing participants to ask questions via chat, which will be addressed during a Q&A session at approximately 12:00–12:30 pm. The event will be conducted in English, and a recording along with presentation materials will be posted on the company's website afterward. For more information, contact Laura Viita, VP of Controlling, Investor Relations and Sustainability at WithSecure Corporation.

WithSecure Corporation has announced the launch of a new Employee Share Savings Plan (ESSP) period for 2025-2027. Initially introduced in 2022, the ESSP allows the Board of Directors to start new plan periods annually, each consisting of a 12-month savings period followed by a two-year holding period. The plan aims to encourage employees to purchase and own WithSecure shares, aligning the interests of shareholders and employees and fostering long-term employee commitment. Open to all employees, the ESSP enables them to save part of their salary to invest in WithSecure shares, which are acquired quarterly after interim reports. As an incentive, employees receive a matching share for each share bought with their savings, provided they remain employed and hold the shares through the holding period. The award, issued in shares or partly in cash to cover taxes, is settled after the holding period. Dividends from savings and matching shares are reinvested in additional shares. The 2025-2027 plan runs from January 1, 2025, to December 31, 2027, with a holding period ending on November 30, 2027. The plan allows for a maximum of approximately 1,700,000 matching shares, subject to employee participation and market share acquisition. Future plan periods will be determined by the Board of Directors.

WithSecure Corporation announced it will host an Investor Day on November 22, 2024, at 9:00 EET. The event will take place at WithSecure's headquarters in Helsinki, Finland, and will also be available via a live webcast. During the Investor Day, WithSecure's management will discuss the company's future strategic priorities and financial targets, as well as plans for each business area. Interested participants must register by November 15, 2024, for on-site attendance, while webcast viewers can interact via an online chat function. Event recordings and presentation materials will be accessible afterward on WithSecure's website. For further details, contact Laura Viita, Vice President of Controlling, Investor Relations, and Sustainability at WithSecure.

WithSecure Corporation's interim report for January to September 2024 highlights continued growth in its Elements software, maintaining profitability despite challenges in services. For the third quarter, the annual recurring revenue (ARR) for Elements Cloud products and services grew by 11% to EUR 81.8 million, with revenue increasing by 9% to EUR 20.7 million. Cloud Protection for Salesforce saw significant ARR growth of 38%. However, revenue growth in the DACH region slowed due to economic weakness, and some large customers churned in managed services. Despite these challenges, the company maintained positive Adjusted EBITDA. The outlook for 2024 was revised down due to revenue gaps, resulting in an impairment of consulting-related goodwill. The company is considering divesting its cyber security consulting business. No significant changes occurred after the quarter's end. The full interim report is available on WithSecure's website, and a webcast presentation by the CEO and CFO will be held on 23 October 2024.

WithSecure Corporation announced a EUR 15.5 million impairment of goodwill related to its Cyber Security consulting business, to be recognized in its third quarter interim report. This impairment stems from a reassessment of the value of intangible assets and goodwill, and is linked to past acquisitions of companies like nSense, Inverse Path, Digital Assurance, and MWR Infosecurity. The impairment will not affect WithSecure's cash flow or Adjusted EBITDA. In 2024, WithSecure revised its revenue outlook for the consulting business due to financial constraints in key accounts and increased equity market risk, which raised the cost of capital for future cash flow estimations. The remaining carrying value of consulting-related goodwill is EUR 28.7 million. For further information, contact Laura Viita, Vice President of Controlling, Investor Relations, and Sustainability at WithSecure Corporation.

WithSecure Corporation announced it will release its interim report for January-September 2024 on 23 October 2024 at around 08:00 EEST. CEO Antti Koskela and CFO Tom Jansson will present the results during a webcast at 14:00 EEST, conducted in English. The webcast can be accessed online, and questions should be submitted in written format. Analysts are invited to attend the presentation at Flik Studio Stage in Helsinki. Presentation materials and the webcast recording will be available on the company's website. For more information, contact Laura Viita, VP of Controlling, Investor Relations, and Sustainability at WithSecure Corporation.

WithSecure Corporation has issued a profit warning, lowering its 2024 financial outlook for its Elements Cloud products and services. The company now expects the Annual Recurring Revenue (ARR) for these products to grow by 6–14%, down from the previous forecast of 10–20%. In 2023, the Elements Cloud ARR was EUR 78.4 million. Revenue growth for these products is revised to 8–12%, compared to the earlier estimate of 10–16%, with the previous year's revenue at EUR 76.1 million. The total group revenue growth is now projected at 2–5%, reduced from the prior outlook of 6–12%, with last year's group revenue at EUR 142.8 million. Despite these revisions, the adjusted EBITDA for 2024 is expected to remain positive. The updated outlook is attributed to slower growth in the DACH region and unmet revenue expectations in markets outside the EU and Japan, particularly in the UK and US. Additionally, higher churn rates among large Managed Services customers and underperformance in the cyber security consulting business have impacted revenue. These revenue shortfalls are unlikely to be fully recovered in the last quarter of 2024.

WithSecure Corporation's half-year report for January to June 2024, released on July 16, 2024, highlights favorable growth in annual recurring revenue (ARR) and improvements in consulting performance. Key points include: - Elements Cloud ARR grew by 13% to EUR 82.5 million in the second quarter. - Elements Cloud revenue increased by 10% to EUR 20.5 million. - Revenue growth was strong in France and DACH countries but lower in Japan and the UK. - The SPHERE marketing event led to higher expenses, impacting Adjusted EBITDA, which was EUR -0.5 million. - A business divestment agreement was signed, with completion expected in the second half of 2024. - Cloud Protection for Salesforce ARR increased by 5%, with revenue stable at EUR 2.2 million. - Cybersecurity consulting revenue grew by 12%. - WithSecure moved to new headquarters in Helsinki on July 1, 2024. The company maintains its outlook for 2024, expecting ARR and revenue growth, and positive adjusted EBITDA for the full year. CEO Antti Koskela expressed enthusiasm for his new role and future growth. The full report is available on WithSecure's website, and a webcast presentation is scheduled for July 16, 2024.