Timo Laaksonen
President & CEO
Welcome, everybody, to F-Secure’s quarter 1 results session. Good to have you with us. As the header says, we have been working on our strategic partner or Tier 1 growth for a couple of years already, and we are now starting to see good progress with that. So that growth is now starting to materialize. We’re very, very happy about that.
Let’s get to the story right away. We made strategically, as said, good advancements in the quarter that we have just closed. And we’ve overall had good momentum in our partner ecosystem. Our currency-neutral revenue growth was 2.1%. Unfortunately, we had some headwinds with dollar and yen, so our reported revenue decreased by 2.1%. Sari Somerkallio, our Chief Financial Officer, will go into the details how this is now in a way, portrayed in our different channels and in our products, big differences there.
Our adjusted EBITDA was EUR 11.5 million, which is roughly 32% of revenue, a slight decrease. Sari will once again be going into some of the reasons why it has gone down. And as major advances, I will come back to those on our Tier 1 partner front in a moment. But naturally, right after closing quarter 1, a major piece of news was that we signed our partner agreement extension with Verizon for a service they call Digital Secure, on the 8th of April. And on the same day, we launched the service to their customers. This resulted in a positive profit warning. So, we raised our revenue outlook. We had already in our plans, taken into account that we would be gaining more traction in terms of revenue, thanks to the Verizon deal in our plans for this year, but
