Integrated Cyber Solutions, Inc. (ICS) AI Stock Analysis

• Market Cap: C$106.20M
• Dividend Yield: N/A
• Average Volume (3M): 53.92K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.79
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): N/A
• Shares Outstanding: 74,265,310
• 10 Day Avg. Volume: 48,274
• 30 Day Avg. Volume: 53,924
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: C$1.50 ▲(36.36% Upside)

The score is primarily constrained by weak financial performance—shrinking revenue, negative gross profit, deep losses, persistent cash burn, and negative equity. Technicals provide partial support due to strong trend and positive MACD, but extremely overbought RSI/Stoch readings raise pullback risk. Valuation impact is limited because P/E and dividend yield are unavailable.

Positive Factors

Industry structural tailwinds

Integrated Cyber operates in Software - Infrastructure, a sector with durable secular demand for cloud, security, and ops tooling. Structural enterprise spending and recurring licensing models support addressable market size and resilience over multiple quarters if execution stabilizes.

Improving cash flow trend

Free cash flow improved in 2025 versus 2024, reducing the firm's cash burn. A sustained decline in operating outflows lengthens runway, lowers near-term refinancing pressure, and gives management time to implement structural fixes to restore positive cash generation.

Prior demonstrated profitability

The company delivered positive gross profit in 2023 and was profitable in 2020, showing the business model can work under the right conditions. This history implies operating leverage exists and that margin recovery is feasible if revenue and cost structure are corrected.

Negative Factors

Sharp revenue decline

A sharp revenue drop in 2025 versus 2024 reduces scale needed to absorb fixed costs and weakens competitive positioning. Persistent top-line contraction undermines margin recovery, increases cash burn intensity, and makes sustainable profitability much harder without durable demand improvement.

Negative gross profit and deep losses

Negative gross profit in consecutive years indicates unit economics are broken: direct costs exceed revenue. This is a structural weakness that prevents leveraging fixed costs into operating profit and risks escalating cash losses unless pricing, product mix, or cost base are materially changed.

Strained balance sheet

Consistently negative shareholders' equity and rising debt materially constrain financial flexibility and increase solvency risk. Over the medium term this limits the company's ability to invest, forces reliance on external financing, and raises the risk of dilutive or restructuring outcomes.

Integrated Cyber Solutions, Inc. Business Overview & Revenue Model

Company Description

Integrated Cyber Solutions Inc. operates as a managed security service provider. The company delivers cybersecurity managed services to the small-to-medium business and small-to-medium enterprise segments. Its services include managed detection and response, endpoint detection and response, vulnerability management and assessment, penetration testing, dark web scanning, remediation, security awareness and training, and cybersecurity insurance. The company was founded in 2016 and is headquartered in Salem, New Hampshire.

How the Company Makes Money

Integrated Cyber Solutions, Inc. Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	189.43K	174.20K	131.55K	316.75K	400.46K	926.79K
Gross Profit	3.37K	-10.59K	-22.13K	28.57K	113.84K	476.81K
EBITDA	-2.11M	-1.27M	-924.62K	-211.89K	-59.11K	130.81K
Net Income	-2.17M	-1.31M	-998.28K	-214.35K	-62.81K	126.69K
Balance Sheet
Total Assets	121.32K	211.07K	57.14K	223.24K	127.41K	297.16K
Cash, Cash Equivalents and Short-Term Investments	50.79K	20.89K	6.95K	36.39K	26.86K	26.06K
Total Debt	579.01K	407.11K	269.05K	202.02K	76.63K	12.02K
Total Liabilities	2.18M	1.06M	722.79K	361.18K	116.98K	55.95K
Stockholders Equity	-2.06M	-1.72M	-665.66K	-566.44K	10.39K	0.00
Cash Flow
Free Cash Flow	-444.14K	-366.33K	-834.87K	-132.61K	-20.68K	-13.61K
Operating Cash Flow	-442.79K	-364.98K	-834.87K	-56.99K	-20.68K	-13.61K
Investing Cash Flow	0.00	-1.35K	0.00	4.20K	0.00	0.00
Financing Cash Flow	470.06K	380.27K	830.84K	86.16K	1.84K	-184.00K

Integrated Cyber Solutions, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ICS	48 Neutral	C$106.20M	―	―	―	―	―
PLUR	45 Neutral	C$16.53M	-1.67	―	―	17.18%	79.56%

Integrated Cyber Solutions, Inc. Corporate Events

Integrated Cyber Solutions Appoints New CFO Amid Rebranding Efforts

Integrated Cyber Solutions Inc. has appointed Mickey Goldstein as its new Chief Financial Officer, succeeding Robert Consaga, who remains a director. This change is part of the company’s rebranding efforts to Integrated Quantum Technologies Inc., reflecting its strategic focus on AI infrastructure and technology updates.

Integrated Cyber Solutions Strengthens Cybersecurity Leadership with New Advisory Appointment

Integrated Cyber Solutions Inc. has appointed Richard Noonan, a seasoned cybersecurity leader, to its Cyber Future Advisory Board as a Technology Advisor. This move highlights the company’s dedication to enhancing its cybersecurity offerings and strategic initiatives, such as the development of SecureGuard360™ and Federated AI Cybersecurity Architecture, aiming to strengthen its market position and deliver long-term value to shareholders. Additionally, the company announced the grant of stock options and restricted share units to Mr. Noonan and other eligible participants, aligning with its equity incentive plan.

Integrated Cyber Solutions Closes Over-Subscribed Private Placement

Integrated Cyber Solutions Inc. has successfully closed an over-subscribed non-brokered private placement of 12,100,000 common shares, raising C$3,025,000. The funds will be used for general working capital and software development, reinforcing the company’s commitment to executing its vision and driving long-term value. The strong investor response highlights confidence in the company’s strategy and future opportunities, positioning it favorably within the cybersecurity industry.

Integrated Cyber Solutions Upsizes Private Placement to Boost Cybersecurity Innovations

Integrated Cyber Solutions Inc. has announced an increase in its non-brokered private placement financing, now offering 12,000,000 common shares at C$0.25 per share for gross proceeds of $3,000,000. The proceeds will be used for general working capital and software development, with the offering subject to conditions including regulatory approval. This move aims to bolster the company’s financial position and support its ongoing development of cybersecurity technologies, potentially enhancing its market position and shareholder value.

Integrated Cyber Solutions Announces $2.5 Million Private Placement

Integrated Cyber Solutions Inc. announced a non-brokered private placement of 10,000,000 common shares at C$0.25 per share, aiming to raise $2,500,000. The funds will be used for general working capital and software development, with the offering subject to certain conditions, including regulatory approvals. This move is expected to bolster the company’s financial position and support its ongoing technological advancements in the cybersecurity sector.