Lydsec Digital Technology (doing business as Keypasco) is set to register on the emerging stock market on May 13, 2025, with a reference price of NT$58 per share. Known for its advanced online identity authentication solutions, Lydsec has become a key player in cybersecurity, with products that include Zero Trust Network Access (ZTNA), Multi-Factor Authentication (MFA), and FIDO. The company has experienced impressive growth, expanding its reach globally and securing significant partnerships in various sectors, including finance, government, and e-commerce.
- Overview of Lydsec’s Product Portfolio
- Lydsec Digital’s flagship products include the Keypasco series of authentication solutions, designed to protect user privacy while ensuring high security and ease of use.
- Solutions such as ZTNA, MFA, and FIDO are widely used across various industries, offering robust security for applications.
- Financial and Market Performance
- In 2024, Lydsec Digital reported a 69% increase in consolidated revenue, totaling NT$110 million, with net profits of NT$15.42 million (EPS of NT$1.15).
- The company’s overseas revenue surged, accounting for about 70% of its total business, with a growing customer base in Japan, Europe, the Middle East, and India.
- Patents and Competitive Edge
- Lydsec Digital holds six international patents across 16 countries, including the U.S., Japan, and the EU, providing a competitive advantage in the cybersecurity industry.
- Key patented technologies include device fingerprints, geo-location integration, proximity authentication, and centralized PKI storage solutions.
- Global Expansion and Overseas Markets
- Lydsec has expanded rapidly into international markets, with overseas revenue in 2024 2.5 times greater than in Taiwan.
- The company serves over 10 million active users globally, with applications spanning various industries such as banking, government, healthcare, and e-commerce.
- Zero Trust Network Architecture (ZTNA) Adoption
- Taiwan’s government has been promoting Zero Trust principles, and Lydsec Digital was among the first companies to pass the Institute for Information Industry’s Zero Trust product functionality verification.
- As the global ZTNA market grows, Lydsec’s solutions are positioned to benefit from this trend.
- Future Growth and Market Outlook
- The global MFA market is expected to grow from $15.2 billion in 2023 to $34.8 billion by 2028, reflecting the increasing need for robust identity security solutions.
- With a client renewal rate exceeding 90% over the past decade, Lydsec Digital is well-positioned for sustained growth, especially in emerging markets.
Lydsec Digital’s upcoming stock market listing highlights its significant achievements in cybersecurity innovation and global expansion. With its comprehensive suite of identity authentication solutions, the company is poised for continued success as the global demand for robust security solutions rises.
