Want to see GB:CYAN full AI Analyst Report?
Top Page
CyanConnode Holdings
(LSE:CYAN)
Select Model
Select Model
Rating:49Neutral
Price Target:
8.00 p
▲(10.34% Upside)
Action:Reiterated
Date: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
Balance-sheet equity cushion
A meaningful equity base provides a buffer against losses and supports continued operations without immediate insolvency risk. This cushion improves the company’s ability to absorb short-term shocks, negotiate financing, and execute strategic options over the next several months.
Negative Factors
Persistent unprofitability
Sustained negative net margins reflect that operating costs consistently exceed gross profit, limiting retained earnings and reinvestment. Continued losses over multiple periods erode shareholder equity and require corrective action—cost cuts, revenue growth, or external capital—to restore viability.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet equity cushion
A meaningful equity base provides a buffer against losses and supports continued operations without immediate insolvency risk. This cushion improves the company’s ability to absorb short-term shocks, negotiate financing, and execute strategic options over the next several months.
Read all positive factors
CyanConnode Holdings (CYAN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£27.62M
Dividend YieldN/A
Average Volume (3M)291.66K
Price to Earnings (P/E)―
Beta (1Y)0.33
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
Headquartered in Cambridge, UK, CyanConnode Holdings plc, established in 2002 and known as Cyan Holdings plc until its name change in November 2016, specializes in the development and sale of Narrowband radio frequency (RF) mesh networks. These ne...
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
Negative
7.25
Price Trends
8.24
Negative
8.25
Negative
7.53
Positive
Market Momentum
-0.13
Positive
32.15
Neutral
18.84
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CYAN, the sentiment is Negative. The current price of 7.25 is below the 20-day moving average (MA) of 8.50, below the 50-day MA of 8.24, and below the 200-day MA of 7.53, indicating a neutral trend. The MACD of -0.13 indicates Positive momentum. The RSI at 32.15 is Neutral, neither overbought nor oversold. The STOCH value of 18.84 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | £62.51M | 16.60 | 17.36% | 4.20% | 9.45% | 13.01% | |
74 Outperform | £237.55M | 44.62 | 11.85% | 0.95% | 13.75% | 6.74% | |
69 Neutral | £58.13M | 79.52 | 2.71% | 2.02% | 18.98% | 115.79% | |
63 Neutral | £611.44M | 61.23 | 26.93% | ― | 31.56% | -4.41% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | £44.43M | 267.50 | 2.29% | 3.67% | -10.70% | ― | |
49 Neutral | £27.62M | -5.90 | -35.93% | ― | -13.95% | 4.29% |
* Technology Sector Average
GB:CYAN
CyanConnode Holdings
7.90
0.15
1.94%
GB:CML
CML Microsystems
267.50
28.36
11.86%
GB:CNC
Concurrent Technologies
261.50
66.36
34.01%
GB:FTC
Filtronic
278.00
128.00
85.33%
GB:MWE
MTI Wireless Edge
72.50
29.07
66.94%
GB:CLX
Calnex Solutions
66.00
17.92
37.27%
CyanConnode Holdings Corporate Events
M&A Transactions
CyanConnode Wins Extension to Esyasoft Takeover Deadline as Board Backs Terms in Principle
Positive
Apr 28, 2026
CyanConnode has disclosed that Esyasoft Holding, a subsidiary of Abu Dhabi’s International Holding Company, has advanced due diligence on a potential all-cash takeover valuing the smart metering specialist at about £37.5 million, or 10....
Business Operations and StrategyFinancial Disclosures
CyanConnode Lifts Revenue Above £20m as Goa AMI Project Drives Growth
Positive
Apr 24, 2026
CyanConnode expects to report revenues exceeding £20 million for the year to 31 March 2026, up from £14.2 million, driven largely by its Goa smart metering project, where installations began and its first Advanced Metering Infrastructure...
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...
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.