cyan AG (DE:CYR)
XETRA:CYR
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cyan AG
(XETRA:CYR)
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Rating:58Neutral
Price Target:
€2.00
▼(-4.76% Downside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by improving financial trajectory and a solid, low-leverage balance sheet, offset by continued net losses and historically inconsistent cash generation. Technicals are moderately constructive but not fully trend-confirmed (still below the 200-day average), and valuation remains pressured due to negative earnings and no dividend support.
Positive Factors
Recurring, partner-driven revenue model
cyan’s business relies on per-user, subscription-style fees sold through telco and distribution partners. That partner-driven recurring model creates durable, predictable revenue per subscriber, enables high gross-margin scaling as subscribers grow, and lowers direct retail acquisition costs over time.
Negative Factors
Persistent net losses
Despite improving operating performance, ongoing net losses mean the company has not yet demonstrated durable earnings power. Continued losses constrain ability to self-fund growth, may force external capital raises that dilute returns, and extend the timeline to consistent free-cash-flow generation.
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Positive Factors
Negative Factors
Recurring, partner-driven revenue model
cyan’s business relies on per-user, subscription-style fees sold through telco and distribution partners. That partner-driven recurring model creates durable, predictable revenue per subscriber, enables high gross-margin scaling as subscribers grow, and lowers direct retail acquisition costs over time.
Read all positive factors
cyan AG (CYR) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€45.63M
Dividend YieldN/A
Average Volume (3M)3.41K
Price to Earnings (P/E)―
Beta (1Y)0.22
Revenue Growth29.15%
EPS Growth83.09%
CountryDE
Employees45
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)-0.03
Shares Outstanding20,189,486
10 Day Avg. Volume2,302
30 Day Avg. Volume3,409
Financial Highlights & Ratios
PEG Ratio0.82
Price to Book (P/B)1.65
Price to Sales (P/S)4.92
P/FCF Ratio32.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.01
Revenue Forecast (FY)€11.50M
cyan AG Business Overview & Revenue Model
Company Description
cyan AG, through its subsidiaries, provides intelligent IT security solutions and telecommunication services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company operates through two segments, Cybersecurity and BSS/O...
How the Company Makes Money
cyan AG primarily makes money by selling cybersecurity services and technology to business partners—most notably telecommunications operators—who bundle these security capabilities into their own consumer or small-business offerings. Revenue is ge...
cyan AG Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
78
Positive
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 9.16M | 7.09M | 4.72M | 3.80M | 8.48M |
| Gross Profit | 1.73M | 1.55M | -617.00K | -11.69M | -14.87M |
| EBITDA | -46.00K | -1.47M | -4.46M | -4.37M | -11.59M |
| Net Income | -678.00K | -3.74M | -20.72M | -14.71M | -13.88M |
Balance Sheet | |||||
| Total Assets | 30.68M | 32.70M | 43.72M | 84.00M | 95.75M |
| Cash, Cash Equivalents and Short-Term Investments | 1.77M | 816.00K | 2.87M | 5.35M | 8.50M |
| Total Debt | 1.15M | 2.05M | 2.17M | 6.66M | 12.70M |
| Total Liabilities | 3.27M | 4.60M | 11.73M | 18.20M | 22.97M |
| Stockholders Equity | 27.41M | 28.10M | 31.98M | 45.61M | 72.78M |
Cash Flow | |||||
| Free Cash Flow | 1.40M | -3.81M | -4.72M | -7.72M | -9.88M |
| Operating Cash Flow | 1.49M | -3.80M | -4.01M | -6.87M | -9.56M |
| Investing Cash Flow | -80.00K | 1.10M | -460.00K | -558.00K | -50.00K |
| Financing Cash Flow | -452.00K | -266.00K | 2.88M | 4.33M | 16.46M |
cyan AG Technical Analysis
Positive
2.10
Price Trends
2.05
Positive
2.11
Positive
2.24
Positive
Market Momentum
0.06
Negative
65.20
Neutral
84.95
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:CYR, the sentiment is Positive. The current price of 2.1 is above the 20-day moving average (MA) of 2.07, above the 50-day MA of 2.05, and below the 200-day MA of 2.24, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 65.20 is Neutral, neither overbought nor oversold. The STOCH value of 84.95 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:CYR.
cyan AG Peers Comparison
UnderperformOutperform
Sector (61)
DE:CYR
cyan AG
2.26
-0.54
-19.29%
DE:YSN
Secunet Security Networks
202.50
2.53
1.26%
DE:SYZ
Syzygy AG
1.29
-1.10
-46.00%
DE:R1B
Rubean AG
4.98
-0.52
-9.45%
DE:MT3
Matica Technologies AG
0.93
-0.02
-2.11%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.