International business continues to be the driving force behind our growth. Around three quarters of our revenue came from outside Finland, demonstrating once again that our appeal is global and that Finnish cybersecurity technology maintains a strong reputation.
Partnerships played an important role during the year: we launched a collaboration with iWave, initiated a partnership with Siemens Cre8Ventures, and strengthened our foothold in Asia by appointing Austin Electric as our sales partner in Korea.
We also received meaningful external recognition. In May, we were honoured with the ECSO Startup Award, and later we were included in the Deloitte Technology Fast 50 list as well as Kauppalehti’s Menestyjät (Achievers) ranking. These acknowledgements reflect steady, disciplined execution in a deep-tech domain where trust and technical rigour matter.
Throughout 2025, our extended team was active across Europe, North America, and Asia, participating in industry and customer events. These interactions remain essential for building relationships, understanding market requirements, and demonstrating that hardware-based cryptography is increasingly necessary in modern customer applications.
On the product side, the year was equally strong. We launched our Quantum-Secure Boot IP core, a key enabler for post-quantum protection in embedded systems. We progressed with additional CAVP certifications and continued expanding our system-level security solutions, which are becoming a larger and increasingly important part of our offering.
We also benefited from the continued support of Business Finland, especially through the BlimPQC and FHE+ZKP projects, which help accelerate the development of our post-quantum and confidential-computing technologies. In parallel, we continued contributing to long-term international initiatives such as the F-35 Indirect Industrial Participation (IIP) and European Space Agency (ESA) projects, further strengthening both our technical capabilities and our global relevance.
Strategically, 2025 reinforced our commitment to being a one-stop shop for hardware-based cryptography. Our product families — including nQrux, xQlave, and our hardware-accelerated security protocol engines — together with a comprehensive portfolio of fundamental cryptographic building blocks, give our customers a trusted, single partner for complete security architectures. Increasingly, customers value the ability to source secure, transparent, and verifiable IP cores from one provider.
Internally, our team remained stable and continued to grow professionally. During the year, Reija Stenroos joined Xiphera as our Marketing Director, building on the solid foundation already in place and supporting our ongoing efforts to strengthen communications and external visibility.
Financially, we achieved the highest revenue in our company’s history in 2025 and further strengthened our balance sheet, giving us a solid basis for future investments and scale-up activities. For a deep-tech company operating in a specialised field, this stability is both an achievement and a strategic advantage.
Looking back, 2025 was not defined by dramatic shifts but by consistent, meaningful progress. We strengthened our foundations, expanded our international presence, deepened our partnerships, and advanced the technologies that will define our future. As we enter 2026, we do so as a focused and confident growth company committed to delivering hardware cryptography that our customers can rely on for decades. Early in the year, we will also strengthen the Xiphera team through new recruitments to serve our customers even better and to support the next phase of our development.
I am looking forward to what 2026 brings. Wishing you a successful and inspiring start to the new year.
Matti Tommiska
