Scryb (SCYB) AI Stock Analysis

• Market Cap: C$3.23M
• Dividend Yield: N/A
• Average Volume (3M): 43.92K
• Price to Earnings (P/E): 0.5
• Beta (1Y): -0.98
• Revenue Growth: -59.42%
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): -0.04
• Shares Outstanding: 32,318,730
• 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: 51 Neutral
• Price Target: C$0.11 ▲(11.00% Upside)

The score is held down primarily by weak financial performance—especially persistently negative operating/free cash flow and questions around the durability of the 2025 earnings inflection amid a sharp revenue decline. Technicals are neutral-to-slightly positive in the near term but still weaker over the long term, while the very low P/E provides valuation support tempered by cash burn and operating profitability concerns.

Positive Factors

Balance sheet resilience

Equity exceeding debt in 2023 and 2025 and a rebuilt equity base provide a durable capital cushion, lowering insolvency risk and giving optionality to fund operations or strategic initiatives. That structural buffer supports stability even if growth is uneven.

AI/ML-focused business model

A core focus on AI and machine-learning software aligns the company with structural demand for automation and decision workflow tools. Recurring licensing/subscription models plus professional services create stickiness and upsell potential, supporting durable revenue channels if product-market fit holds.

Improving cash burn trend

Meaningful improvement in cash burn from 2023 into 2024–2025 indicates better cost control or operational leverage, extending runway and reducing near-term financing pressure. As a structural trend this enhances the company's ability to execute strategy, though cash flow remains negative.

Negative Factors

Persistent negative cash generation

Consistent negative operating and free cash flow across all years means the business cannot self-fund growth or operations, increasing dependency on external financing. Over months this raises dilution and refinancing risk and constrains reinvestment and long-term sustainability.

Revenue volatility and steep 2025 decline

High top-line volatility culminating in a sharp 2025 decline undermines predictability of future cash flows and complicates resource allocation. Structurally, this raises concerns about customer concentration, product-market fit, or competitive displacement that could impair durable growth.

Weak operating profitability and earnings quality

Positive reported earnings driven by non-operating or one-time items while operating profit remains negative indicates earnings quality issues. Reliance on such items masks core operational weaknesses and makes reported profitability less sustainable over the medium term.

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 generates revenue through multiple channels, including subscription-based models for its software services, one-time licensing fees for its products, and consulting services for data security implementation and compliance strategies. Key revenue streams include annual subscriptions for their data protection software, which provide ongoing updates and customer support. Additionally, Scryb partners with enterprises and organizations to offer tailored solutions, which can lead to significant contract value. Strategic alliances with other technology firms and cybersecurity organizations also enhance their market reach and can contribute to joint revenue opportunities.

Scryb Financial Statement Overview

Summary

Income statement quality is weak (Income Statement Score: 38) due to sharp 2025 revenue contraction and profitability that appears influenced by non-operating/one-time factors (positive net income/EBITDA while operating profit remains negative). The balance sheet is comparatively steadier (Balance Sheet Score: 62) with equity exceeding debt in 2025, but has shown instability (notably stressed leverage in 2024). Cash flow is the biggest drag (Cash Flow Score: 33) with persistently negative operating and free cash flow, sustaining funding/dilution risk.

Income Statement

Revenue has been highly volatile: strong growth in 2021–2023, modest growth in 2024, followed by a steep decline in 2025 (annual). Profitability has been weak for most of the period with deeply negative operating results, but 2025 shows a sharp swing to positive net income and positive EBITDA despite still-negative operating profit, suggesting earnings were boosted by non-operating items and/or one-time factors rather than core operations. Gross profit has also been inconsistent, limiting confidence in the underlying business momentum.

Balance Sheet

Leverage appears manageable overall with equity exceeding total debt in 2023 and 2025, and the company rebuilt a stronger equity base by 2025 versus 2024. That said, the balance sheet showed stress in 2024 with elevated leverage (debt well above equity) and very poor returns on equity, indicating periods of weak capitalization and losses. Net-net, asset and equity levels provide some cushion, but capital structure stability has been uneven year to year.

Cash Flow

Cash generation remains a key weakness: operating cash flow and free cash flow are negative in every year shown, including 2025 (annual), indicating the business is still consuming cash. While cash burn improved meaningfully from the 2023 low point to 2024–2025, free cash flow deterioration in 2025 and the lack of sustained positive operating cash flow raise ongoing funding and dilution/financing risk.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	396.04K	429.55K	1.84M	1.57M	659.23K	1.10M
Gross Profit	384.46K	89.77K	173.54K	-111.07K	-291.00K	-723.30K
EBITDA	7.19M	7.23M	-11.79M	-26.07M	-10.11M	-16.48M
Net Income	6.25M	4.82M	-9.79M	-19.57M	-11.14M	-17.25M
Balance Sheet
Total Assets	11.71M	11.71M	8.80M	12.97M	11.22M	18.07M
Cash, Cash Equivalents and Short-Term Investments	1.09M	1.09M	406.49K	737.07K	368.22K	5.69M
Total Debt	1.38M	1.38M	2.41M	338.49K	436.46K	565.65K
Total Liabilities	2.58M	2.58M	10.51M	5.40M	5.48M	1.21M
Stockholders Equity	9.13M	9.13M	1.04M	8.57M	5.74M	16.86M
Cash Flow
Free Cash Flow	-2.80M	-2.80M	-5.88M	-15.03M	-5.18M	-10.75M
Operating Cash Flow	-2.80M	-2.80M	-5.88M	-14.84M	-4.83M	-10.70M
Investing Cash Flow	2.24M	2.24M	24.04K	4.07M	-26.39K	-1.16M
Financing Cash Flow	1.25M	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: Neutral

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 0.12, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 46.04 is Neutral, neither overbought nor oversold. The STOCH value of 44.44 is Neutral, 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	51 Neutral	C$3.23M	0.48	32.38%	―	-59.42%	―
CLIP	46 Neutral	C$19.65M	-1.41	―	―	222.33%	-5.42%
PKK	43 Neutral	C$8.13M	-0.26	―	―	-75.67%	77.36%

Scryb Corporate Events

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.

Scryb Highlights New U.S. Institutional Investment in Cybeats

Scryb Inc. announced the closing of a $1.44 million investment by the U.S.-based IFCM MicroCap Fund LP into Cybeats Technologies Corp., marking a significant expansion of Cybeats’ institutional shareholder base. This investment underscores the growing recognition of Cybeats’ leadership in software supply chain security and strengthens its long-term outlook, as Scryb continues to support Cybeats’ growth strategy in critical industries.