CyanConnode Holdings PLC (GB:CYAN)
LSE:CYAN
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CyanConnode Holdings
(LSE:CYAN)
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Rating:49Neutral
Price Target:
8.00 p
▲(10.34% Upside)
Action:ReiteratedDate:03/24/26
The score is held back primarily by weak financial performance (ongoing losses, a FY2025 revenue drop, and significant negative cash flow with higher leverage). Technicals are mixed with weak near-term momentum despite longer-term support. Corporate events provide upside via a potential takeover at a premium, but valuation remains challenged due to negative earnings and no indicated dividend support.
Positive Factors
Equity cushion / Balance sheet buffer
A material equity base relative to assets provides a multi-quarter buffer to absorb operating losses and supports continued operations without immediate insolvency risk. This balance sheet headroom increases optionality for restructuring, renegotiating contracts, or securing strategic partners.
Negative Factors
Persistent unprofitability
Chronic negative net margins erode retained capital and undermine self-funding. Continued losses constrain reinvestment in R&D and sales, raise refinancing or dilution risk, and mean the business must materially improve revenue or cut costs to achieve sustainable profitability over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Equity cushion / Balance sheet buffer
A material equity base relative to assets provides a multi-quarter buffer to absorb operating losses and supports continued operations without immediate insolvency risk. This balance sheet headroom increases optionality for restructuring, renegotiating contracts, or securing strategic partners.
Read all positive factors
CyanConnode Holdings (CYAN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£27.09M
Dividend YieldN/A
Average Volume (3M)291.66K
Price to Earnings (P/E)―
Beta (1Y)0.17
Revenue Growth-13.95%
EPS Growth4.29%
CountryUK
Employees120
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding359,035,100
10 Day Avg. Volume198,528
30 Day Avg. Volume291,657
Financial Highlights & Ratios
PEG Ratio0.65
Price to Book (P/B)2.80
Price to Sales (P/S)2.98
P/FCF Ratio-6.41
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)0.05
Revenue Forecast (FY)£52.95M
CyanConnode Holdings Business Overview & Revenue Model
Company Description
CyanConnode Holdings plc engages in the design, development, and sale of Narrowband radio frequency (RF) mesh networks that enable Omni Internet of Things (IoT) communications in the United Kingdom, India, Sweden, Thailand, and internationally. It...
CyanConnode Holdings Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
16
Very Negative
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.99M | 14.18M | 18.73M | 11.73M | 9.56M | 6.44M |
| Gross Profit | 3.83M | 4.94M | 5.61M | 4.21M | 5.01M | 3.10M |
| EBITDA | -3.80M | -3.23M | -3.71M | -2.82M | -398.00K | -2.04M |
| Net Income | -4.78M | -3.83M | -3.83M | -2.41M | -871.00K | -2.06M |
Balance Sheet | ||||||
| Total Assets | 41.61M | 33.19M | 23.12M | 20.45M | 16.79M | 14.01M |
| Cash, Cash Equivalents and Short-Term Investments | 1.63M | 5.83M | 783.00K | 4.07M | 2.35M | 1.49M |
| Total Debt | 19.75M | 7.09M | 474.00K | 1.35M | 2.02M | 2.22M |
| Total Liabilities | 30.10M | 18.10M | 9.69M | 5.68M | 5.36M | 7.00M |
| Stockholders Equity | 11.51M | 15.09M | 13.43M | 14.77M | 11.43M | 7.01M |
Cash Flow | ||||||
| Free Cash Flow | -13.22M | -6.59M | -4.47M | -2.98M | -3.42M | -1.14M |
| Operating Cash Flow | -13.06M | -5.54M | -2.86M | -2.22M | -3.13M | -988.00K |
| Investing Cash Flow | -912.00K | -1.02M | -1.60M | -766.00K | -296.00K | -90.00K |
| Financing Cash Flow | 6.05M | 7.74M | 1.23M | 4.69M | 4.28M | 1.40M |
CyanConnode Holdings Technical Analysis
Neutral
7.25
Price Trends
8.20
Negative
7.53
Positive
7.38
Positive
Market Momentum
-0.18
Positive
36.41
Neutral
34.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CYAN, the sentiment is Neutral. The current price of 7.25 is below the 20-day moving average (MA) of 8.12, below the 50-day MA of 8.20, and below the 200-day MA of 7.38, indicating a neutral trend. The MACD of -0.18 indicates Positive momentum. The RSI at 36.41 is Neutral, neither overbought nor oversold. The STOCH value of 34.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:CYAN.
CyanConnode Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £52.58M | 10.81 | 17.36% | 4.20% | 5.46% | 12.34% | |
75 Outperform | £466.28M | 27.44 | 26.93% | ― | 121.45% | 345.83% | |
69 Neutral | £175.33M | 18.51 | 12.09% | 0.95% | 22.72% | -8.82% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | £43.12M | -17.38 | 2.30% | 2.02% | 20.83% | ― | |
52 Neutral | £37.37M | 5.88 | 2.29% | 3.67% | -21.33% | -11.35% | |
49 Neutral | £27.09M | -2.04 | -35.93% | ― | -13.95% | 4.29% |
* Technology Sector Average
GB:CYAN
CyanConnode Holdings
7.75
-4.95
-38.98%
GB:CML
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225.00
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GB:CNC
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193.00
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212.00
127.00
149.41%
GB:MWE
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61.00
18.52
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GB:CLX
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49.00
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21.80%
CyanConnode Holdings Corporate Events
Business Operations and StrategyM&A Transactions
CyanConnode Wins Extension as Esyasoft Weighs Higher Cash Bid
Positive
Mar 31, 2026
CyanConnode has disclosed that Esyasoft Holding, a subsidiary of Abu Dhabi’s International Holding Company, has raised its indicative all-cash proposal for the business to £37.5 million, or 10.44 pence per share, and that the board woul...
M&A Transactions
CyanConnode Backs Higher Esyasoft Proposal as Takeover Deadline Extended
Positive
Mar 3, 2026
CyanConnode Holdings has received a revised non-binding all-cash proposal from Esyasoft Holding, valuing the smart metering specialist at £37.5 million, or 10.44 pence per share, up from an earlier £35 million approach. After reviewing t...
Business Operations and StrategyM&A Transactions
CyanConnode Board Backs Terms of Esyasoft’s Sweetened Takeover Approach
Positive
Mar 3, 2026
CyanConnode has received a revised, non-binding all-cash proposal from Esyasoft valuing the business at £37.5 million, or 10.44 pence per share, representing premiums of up to 67% over recent trading benchmarks. The board, advised by Strand H...
M&A TransactionsRegulatory Filings and Compliance
CyanConnode Confirms Indicative £35m All‑Cash Approach from Esyasoft
Positive
Feb 3, 2026
CyanConnode Holdings has confirmed that it received an indicative, non-binding approach from Esyasoft Holding Ltd regarding a possible all-cash takeover valuing the company at about £35 million, or roughly 9.75 pence per share. The board is c...
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.