German cybersecurity firm Cyan H1 revenue rises, confirms FY outlook

Overview

• Germany cybersecurity firm's H1 revenue rose 11% yr/yr to EUR 4.9 mln

• EBITDA positive at EUR 0.2 mln despite investments in growth

• Company confirms full-year guidance

Outlook

• Cyan confirms 2026 revenue guidance of EUR 10.2 mln to EUR 11.5 mln

• Company expects 2026 EBITDA to remain positive but below 2025 level due to investments

• Cyan says investments in product and market development to support future growth

Result Drivers

• RECURRING REVENUE - High proportion of recurring revenue (96%) provided a reliable, predictable base and improved planning certainty

• INTERNATIONAL EXPANSION - Company expanded international presence and partnerships, including T-Mobile Poland and ONATi/Vini in French Polynesia

• NEW SALES CHANNELS - Additional sales channels for cyan Guard 360 created through CANCOM and FileWave

Company press release:

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the software peer group is "buy"

• Wall Street's median 12-month price target for Cyan AG is €4.35, about 111.2% above its September 23 closing price of €2.06

• The stock recently traded at 74 times the next 12-month earnings vs. a P/E of 250 three months ago

Reuters Recommended Reads

• Sept 23 - Germany to upgrade military data encryption for up to €1.7 billion

• Sept 21 - Poor data sharing undermining EU cyber defences, auditors say

• Sept 23 - German and Dutch strategic innovation agencies to collaborate on AI chip design

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)