Inside information, profit warning: SSH Communications Security Corporation lowers its 2025 net sales outlook, EBITDA and cash flow outlook unchanged

SSH Communications Security Corporation | Inside Information | January 02, 2026 at 09:30:00 EET

SSH Communications Security lowers its outlook for net sales due to reduced license sales during Q4 and a weaker US dollar. Our outlook for positive EBITDA and cash flow from operating activities remains unchanged. Subscription sales are expected to have grown approximately 10% in 2025.

”The strategic partnership and investment agreement with Leonardo S.p.A, announced on July 1, 2025, successfully closed on October 21, 2025. Since closing, we have focused on aligning with Leonardo on common goals and training their personnel during Q4, which delayed new sales and recognized revenue for 2025. We now expect the partnership to generate meaningful revenue growth in 2026,” says CEO Rami Raulas.

New guidance for 2025:
Net sales will decrease slightly compared to 2024. EBITDA will be positive, and cash flow from operating activities will be positive.

The earlier 2025 outlook, issued on 14 February 2025, expected net sales to grow and EBITDA and cash flow from operating activities to be positive.

SSH will publish its full-year results on February 17, 2026.

SSH COMMUNICATIONS SECURITY CORPORATION
Rami Raulas
CEO

About SSH
SSH is a leading defensive cybersecurity company that secures communications between humans, systems, and networks. We specialize in Zero Trust Privileged Access Controls and Quantum Safe Network Security. Our customers include a diverse range of enterprises, from multiple Fortune 500 companies to SMBs across various sectors such as Finance, Retail, Technology, Industrial, Healthcare, and Government. 25% of Fortune 100 companies rely on SSH’s solutions. Recent strategic focus has expanded SSH business to Defence, Critical Infrastructure Operators, Manufacturing OT Security and Public Safety.

Leonardo S.p.A invested 20.0 million EUR in SSH, becoming the largest shareholder of the company. SSH solutions form a Center of Excellence for Zero Trust privileged access management and quantum-safe network encryption in Leonardo - a global industrial group that creates multi-domain technological capabilities in the Aerospace, Defence and Security sector with 17.8 billion EUR revenue in 2024. SSH company’s shares (SSH1V) are listed on Nasdaq Helsinki.