Inside information, profit warning: F-Secure raises its full year 2026 revenue outlook, profitability outlook remains unchanged
F-Secure Corporation | Inside Information | 10 March 2026 at 09:01 EET
F-Secure raises its outlook for the full year 2026 revenue. Earlier today, on 10 March 2026, F-Secure announced its partnership with Verizon, one of the world's leading Communication Service Providers. This announced partnership, together with better-than-expected business performance and outlook during the first months of 2026, are the key drivers for the raised outlook. Regarding profitability, the company maintains its previous guidance.
Updated outlook for 2026
Growth: The group's currency neutral revenue growth is expected to be 7-12% in 2026.
Profitability: The group's adjusted EBITA is expected to be EUR 44-50 million in 2026 (2025: EUR 50.3 million).
Background for the outlook:
- F-Secure expects the core consumer cybersecurity market to grow mid-single digit CAGR mid- to long-term1. F-Secure sees the potential to grow faster than the market, focusing on partner channel and its offering around Embedded security and Scam Protection. The growth may be moderated by uncertainties around consumer sentiment in certain markets and general economic volatility.
- Partner business and especially Embedded Security solutions are expected to drive F-Secure growth during 2026. Growth is expected to accelerate throughout the year as the most significant new Tier 1 services gradually start to generate revenue and support profitability.
- Direct business revenue development is expected to be negative due to continued strategy of refraining from paid customer acquisition. Focus is on improving retention rate and ARPU.
- Gross margin is expected to be slightly lower than in 2025 (84.7%) due to growth of strategic partners with Embedded Security solutions, as these typically have a lower gross margin level than F-Secure Total business.
- F-Secure continues to develop its service, operations and production capabilities further to meet Tier 1 partner requirements. These efforts are reflected in the higher cost base. As business scales up we expect to leverage continued service level investments across a wider partner base, leading to positive Adjusted EBITA % development along with business growth.
- Capex level is expected to remain on a similar or slightly higher level as in 2025 related to both product development as well as technology infrastructure improvements.
1 Industry analyst views such as Gartner and IDC, and F-Secure management estimates.
Previous outlook for 2026 (issued on 5 February 2026):
Growth: F-Secure expects mid to high single-digit currency neutral revenue growth for 2026.
Profitability: The group's adjusted EBITA is expected to be EUR 44-50 million in 2026 (2025: EUR 50.3 million).
For further information, please contact:
Chief Financial Officer Sari Somerkallio
tel. +358 40 356 9251
investor.relations@f-secure.com
F-Secure in brief
F-Secure is Finland headquartered and globally operating consumer cyber security company. F-Secure offers award-winning security and privacy products and services that make every digital moment more secure, for everyone. F-Secure operates in over 100 countries, has ~200 Service Provider partners and is the global leader providing security through Communication Service Providers. F-Secure Corporation is listed on Nasdaq Helsinki Ltd.
Read more: www.f-secure.com
