Scryb (SCYB) AI Stock Analysis

• Market Cap: C$4.71M
• Dividend Yield: N/A
• Average Volume (3M): 43.92K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.60
• Revenue Growth: -59.42%
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): N/A
• Shares Outstanding: 47,078,403
• 10 Day Avg. Volume: 55,901
• 30 Day Avg. Volume: 43,921
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.42
• Price to Sales (P/S): 8.97
• P/FCF Ratio: -1.37
• 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: 47 Neutral
• Price Target: C$0.10 ▼(-1.00% Downside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is held down primarily by weak financial performance—sharp TTM revenue decline, significant losses, and ongoing cash burn—despite a currently manageable leverage profile. Technicals provide a modest offset with mild positive momentum, while valuation remains challenged due to loss-making results and no dividend support.

Positive Factors

Manageable leverage

Current low debt-to-equity (TTM ~0.12, 2025 ~0.15) gives Scryb durable financial flexibility to fund operations or invest in product development without immediate refinancing pressure. This reduces near-term solvency risk and supports strategic options over the next several months.

High gross margins

A reported strong gross margin reflects the software-oriented economics of Scryb's product offerings, implying scalable unit economics. If revenue stabilizes or grows, gross margins can translate to improving operating leverage and sustainably higher profitability over a multi-month horizon.

Recurring software + services model

Scryb's mix of subscription/licensing revenue plus professional services creates durable revenue streams and client stickiness. Subscriptions can provide predictable recurring cash flows while services deepen client relationships and increase switching costs, supporting medium-term revenue recovery potential.

Negative Factors

Sharp revenue decline

A severe and persistent revenue decline erodes scale, reduces operating leverage, and weakens market position. Over 2-6 months this constrains ability to convert gross margin into operating profit, raises customer retention and demand concerns, and makes recovery more difficult without clear demand drivers.

Persistent cash burn

Ongoing negative operating and free cash flow indicates structural cash burn rather than a temporary timing issue. This elevates funding risk, may force dilutive equity raises or costly debt, and limits the company's capacity to invest in product development or sales initiatives needed to restore growth.

Historical balance-sheet volatility

Prior episodes where leverage spiked sharply signal that the capital structure can deteriorate rapidly under stress. That instability increases the chance of future funding strain or covenant risk, complicating long-term planning and making the recovery path and management decisions more uncertain.

Scryb Business Overview & Revenue Model

Company Description

Scryb Inc., a technology company, provides platform to power businesses and technologies. The company's cloud-based platform comprising sensor technology, IoT, predictive analytics, and computer vision. It serves digital health, diagnostics, cybersecurity, and manufacturing markets. The company was formerly known as Relay Medical Corp. and changed its name to Scryb Inc. in December 2021. Scryb Inc. is headquartered in Toronto, Canada.

How the Company Makes Money

Scryb primarily makes money through monetizing its software offerings and related services. Key revenue streams include: (1) software revenue from licensing and/or subscriptions for its AI/automation products (terms and pricing vary by customer and product), and (2) professional services revenue from implementation, customization, integration, and ongoing customer support/maintenance associated with deploying its solutions. Any additional material revenue streams (e.g., usage-based fees, reseller/channel revenue, or specific long-term commercial partnerships that materially contribute to earnings) are not consistently available from public sources in a way that can be stated here without speculation, so they are reported as null. null

Scryb Financial Statement Overview

Summary

Overall fundamentals are weak: the income statement reflects steep TTM losses and a sharp ~57% revenue contraction, while cash flow shows persistent negative operating cash flow and free cash flow (ongoing cash burn). The balance sheet is a partial offset with currently low debt-to-equity, but historical volatility in leverage/equity adds risk.

Income Statement

TTM (Trailing-Twelve-Months) results show very weak profitability, with a steep net loss and deeply negative operating margins despite a strong gross margin. Revenue has also contracted sharply (down ~57% in TTM), which raises concerns about scale and demand stability. While the annual period ending 2025-09-30 shows a positive net margin, the broader multi-year pattern is dominated by losses and highly volatile results, limiting confidence in earnings quality and durability.

Balance Sheet

Leverage looks manageable in the most recent periods, with debt-to-equity low in TTM (~0.12) and 2025 annual (~0.15), supported by a solid equity base. However, the balance sheet has shown meaningful volatility historically (notably 2024, when debt-to-equity spiked above 2x alongside very weak returns), suggesting the capital structure and equity level can swing materially. Overall, current leverage is a strength, but historical instability is a key risk flag.

Cash Flow

Cash generation is consistently negative: TTM operating cash flow and free cash flow are both materially below zero, and this pattern persists across the annual history provided. Even though free cash flow and net income tend to move together in the dataset, the core issue is ongoing cash burn, which increases funding risk if conditions tighten. The slight year-over-year improvement in free cash flow in some periods does not offset the lack of sustained positive operating cash flow.

Breakdown	Dec 2025	Dec 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	429.55K	1.84M	1.57M	659.23K	1.10M
Gross Profit	89.77K	173.54K	-111.07K	-291.00K	-723.30K
EBITDA	7.23M	-11.79M	-26.07M	-10.11M	-16.48M
Net Income	4.82M	-9.79M	-19.57M	-11.14M	-17.25M
Balance Sheet
Total Assets	11.71M	8.80M	12.97M	11.22M	18.07M
Cash, Cash Equivalents and Short-Term Investments	1.09M	406.49K	737.07K	368.22K	5.69M
Total Debt	1.38M	2.41M	338.49K	436.46K	565.65K
Total Liabilities	2.58M	10.51M	5.40M	5.48M	1.21M
Stockholders Equity	9.13M	1.04M	8.57M	5.74M	16.86M
Cash Flow
Free Cash Flow	-2.80M	-5.88M	-15.03M	-5.18M	-10.75M
Operating Cash Flow	-2.80M	-5.88M	-14.84M	-4.83M	-10.70M
Investing Cash Flow	2.24M	24.04K	4.07M	-26.39K	-1.16M
Financing Cash Flow	1.25M	5.82M	16.28M	-460.00K	16.64M

Scryb Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SCYB, the sentiment is Negative. The current price of 0.1 is below the 20-day moving average (MA) of 0.11, below the 50-day MA of 0.10, and below the 200-day MA of 0.11, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 45.54 is Neutral, neither overbought nor oversold. The STOCH value of 11.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SCYB.

Scryb 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%
SCYB	47 Neutral	C$4.71M	-1.28	32.38%	―	-59.42%	―
CLIP	46 Neutral	C$21.33M	-1.70	―	―	222.33%	-5.42%
PKK	43 Neutral	C$8.13M	-0.59	255.64%	―	-75.67%	77.36%

Scryb Corporate Events

Scryb Strengthens Balance Sheet and Leans on Cybeats Upside After Positive Q1 2026

Scryb Inc. reported a stronger start to fiscal 2026, with cash rising 50% to $1.2 million and working capital up 68% to about $2 million, while total liabilities fell 27% during the quarter and were halved again to roughly $900,000 by late February. Operating expenses dropped 82% year over year as the company adopted a leaner structure, cutting its monthly burn to about $100,000 and helping management argue that the shares trade at a steep discount to the net asset value of its holdings.

The company remains the largest shareholder of Cybeats, owning about 75 million shares valued at roughly $14 million, and sees added upside from Cybeats’ newly announced partnership with Keysight Technologies, a major global player in test and measurement solutions. Scryb views the Keysight deal as a meaningful commercial milestone for Cybeats and a positive development for its own portfolio, reinforcing its strategy of pursuing high-conviction technology investments on the back of a strengthened balance sheet.

The most recent analyst rating on (TSE:SCYB) stock is a Sell with a C$0.10 price target. To see the full list of analyst forecasts on Scryb stock, see the TSE:SCYB Stock Forecast page.

Scryb Posts Stronger Fiscal 2025 Balance Sheet and Highlights Cybeats Stake

Scryb Inc. has reported its fiscal 2025 results, highlighting a markedly stronger balance sheet, reduced operating costs and a streamlined corporate structure centred on a focused portfolio of growth investments. Over the year, the company swung its working capital from a $6.8 million deficit to a $1.2 million surplus, cut total liabilities by about 77% to $2.6 million, and underscored its substantial exposure to Cybeats Technologies through a 75 million-share position valued at roughly $12 million, equivalent to about 39% of Cybeats’ outstanding shares. Management framed 2025 as a pivotal year that leaves Scryb trading at a market capitalization below the value of its Cybeats holdings, while positioning it with improved liquidity and strategic optionality to pursue new opportunities, including in digital assets, with potential implications for both its valuation and shareholders’ long-term returns.

Cybeats Converts $1.2 Million Scryb Debt Into Equity to Bolster Balance Sheet

Cybeats Technologies Corp. and its major shareholder Scryb Inc. have agreed to settle a $1.2 million secured debenture through the issuance of 10 million Cybeats common shares at a deemed price of $0.12 per share, a move intended to strengthen Cybeats’ balance sheet and support its planned growth. The share-based debt settlement, which is subject to Canadian Securities Exchange approval and will not create a new control person, is classified as a related-party transaction under Canadian securities rules, but both companies are relying on exemptions from valuation and minority approval requirements because the deal size is below 25% of their respective market capitalizations, limiting governance friction while improving Cybeats’ financial flexibility.