S 
SSH Communications Security Oyj SSH1V.HE · EUR
Information Technology · Nasdaq Helsinki · 🇫🇮 Finland
1.89
+1.07%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€21.6m
FY2016FY2025
Net income
−€2.3m
FY2016FY2025
Free cash flow
—
FY2016FY2025
Shareholders' equity
€9.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €21.6m | €22.2m | €20.3m | €19.3m | €15.9m | €11.3m | €14.4m | €18.3m | €16.2m | €15.1m |
| Gross profit | €18.5m | €22.1m | €20.2m | €19.2m | €16.0m | €11.0m | €13.9m | €16.9m | €14.7m | €13.2m |
| Research and development | €9.9m | €8.9m | €7.9m | €7.2m | €5.8m | €5.0m | €4.9m | €5.1m | €5.6m | €9.5m |
| Operating income | −€2.4m | −€300,000 | −€2.1m | −€410,705 | −€1.5m | −€2.9m | −€1.2m | €639,464 | −€2.2m | −€10.8m |
| Net income | −€2.3m | −€1.1m | −€2.7m | −€1.9m | −€2.1m | −€2.8m | −€1.3m | €829,936 | −€2.2m | −€11.1m |
| Diluted earnings per share | -0.04 | -0.03 | -0.09 | -0.05 | -0.05 | -0.07 | -0.03 | 0.02 | -0.07 | -0.32 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €47.4m | €30.1m | €31.4m | €38.1m | €35.9m | €18.6m | €23.8m | €24.2m | €23.2m | €21.8m |
| Cash and short-term investments | €21.0m | €2.9m | €3.7m | €5.7m | €8.2m | €8.5m | €12.0m | €13.5m | €13.5m | €7.8m |
| Total liabilities | €31.4m | €21.1m | €22.1m | €27.1m | €23.9m | €10.2m | €11.7m | €10.0m | €10.3m | €13.6m |
| Debt | €1.1m | €2.1m | €2.4m | €2.6m | €3.4m | €1.3m | €856,200 | €162,000 | — | — |
| Shareholders' equity | €9.3m | €2.3m | €2.9m | €5.1m | €6.0m | €8.1m | €11.4m | €13.4m | €12.9m | €8.3m |
| Shares outstanding | 55m | 41m | 30m | 40m | 39m | 39m | 39m | 39m | 30m | 35m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.1m | €2.7m | €3.2m | €3.0m | €2.8m | −€227,879 | €279,822 | €1.2m | €1.3m | −€8.1m |
| Capital spending | −€1.1m | −€1.5m | −€2.7m | −€2.5m | −€2.0m | −€2.1m | −€2.0m | −€2.3m | −€1.5m | −€2.5m |
| Free cash flow | — | €1.2m | €582,512 | €464,550 | €810,791 | −€2.3m | −€1.7m | −€1.1m | −€267,960 | −€10.6m |
| Dividends paid | — | — | −€1.4m | −€1.4m | −€1.4m | −€900,000 | −€900,000 | −€900,000 | −€900,000 | −€900,000 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €5.7m | €5.3m | €5.4m | €5.5m | €5.4m | €5.4m | €6.9m | €5.2m |
| Gross profit | €5.7m | €5.3m | €5.4m | €5.5m | €5.4m | €5.4m | €6.8m | €5.2m |
| Operating income | −€500,000 | €1.4m | −€600,000 | €5.5m | −€1.3m | −€1.1m | €800,000 | €100,000 |
| Net income | −€700,000 | −€1.3m | −€200,000 | — | −€700,000 | −€1.4m | €417,090 | −€100,000 |
| Diluted earnings per share | -0.01 | -0.02 | -0.00 | — | -0.01 | -0.03 | 0.01 | -0.00 |
| Cash from operations | — | — | €1.0m | — | — | — | €2.0m | — |
| Total assets | €31.2m | — | €47.4m | — | €25.1m | — | €30.1m | — |
| Cash and short-term investments | — | €21.1m | €21.0m | €2.0m | €2.0m | €3.0m | €2.9m | €2.1m |
| Debt | — | — | €1.5m | — | €1.8m | — | €2.2m | — |
| Shareholders' equity | €4.8m | €25.8m | €9.3m | €7.9m | €1.2m | €9.0m | €2.3m | €8.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.9% | 13.9% | 1.4% |
| Operating income | 80.1% | -4.0% | -5.8% |
| Net income | 6.3% | -4.1% | -5.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 92.7% | 95.9% | 96.7% | 92.0% |
| Operating margin | -6.2% | -6.2% | -8.7% | -14.2% |
| Net margin | -7.8% | -9.6% | -11.7% | -15.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -74.7 | -38.7 | -14.8 | -47.7 | -57.5 | -23.2 | -31.8 | 78.0 | -23.6 | -6.1 |
| Price to sales | 8.0 | 1.9 | 2.0 | 4.7 | 7.4 | 5.8 | 2.8 | 3.5 | 3.3 | 4.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 4 Mar 2010.
| FY2010 | FY2009 | FY2008 | FY2005 | |
|---|---|---|---|---|
| Paid in the year | 0.05 | 0.30 | 0.15 | 0.503 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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