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Cyan AG is a provider of intelligent IT security solutions and telecommunication services in the IT industry. The main business of the company involves cybersecurity solutions for the end customers of mobile and fixed-line internet providers (MNO, ISP), financial service providers, mobile virtual network operators (MVNO) as well as the convergent BSS/OSS platform (Business Support System and Operations Support System) as a mobile virtual network enabler (MVNE). With the BSS/OSS business, services such as connection to the network operator, billing, provisioning, and similar services relating to the operational aspects of running an MVNO are offered. The company has two segments: Cybersecurity, and BSS/OSS platform. Its products include a Seamless BSS/OSS Platform.
2017
124
LTM Revenue $8.3M
LTM EBITDA -$1.2M
$61.9M
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Cyan has a last 12-month revenue of $8.3M and a last 12-month EBITDA of -$1.2M.
In the most recent fiscal year, Cyan achieved revenue of $5.1M and an EBITDA of -$4.1M.
Cyan expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Cyan valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $9.2M | $5.1M | XXX | XXX | XXX |
| Gross Profit | -$7.5M | -$4.7M | XXX | XXX | XXX |
| Gross Margin | -82% | -94% | XXX | XXX | XXX |
| EBITDA | -$8.4M | -$4.1M | XXX | XXX | XXX |
| EBITDA Margin | -91% | -81% | XXX | XXX | XXX |
| Net Profit | -$14.9M | -$17.7M | XXX | XXX | XXX |
| Net Margin | -163% | -350% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Cyan's stock price is EUR 3 (or $3).
Cyan has current market cap of EUR 57.7M (or $61.9M), and EV of EUR 57.6M (or $61.9M).
See Cyan trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $61.9M | $61.9M | XXX | XXX | XXX | XXX | $-0.11 |
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Sign UpAs of April 15, 2025, Cyan has market cap of $61.9M and EV of $61.9M.
Cyan's trades at 7.5x LTM EV/Revenue multiple, and -49.6x LTM EBITDA.
Analysts estimate Cyan's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Cyan and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $61.9M | XXX | XXX | XXX |
| EV/Revenue | 12.2x | XXX | XXX | XXX |
| EV/EBITDA | -15.1x | XXX | XXX | XXX |
| P/E | -2.8x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -12.2x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpCyan's NTM/LTM revenue growth is 27%
Cyan's revenue per employee for the last fiscal year averaged $41K, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Cyan's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Cyan's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Cyan and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -45% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -81% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -51% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | -54% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $41K | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 4% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 29% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 2% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 123% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| archTIS | XXX | XXX | XXX | XXX | XXX | XXX |
| FirstWave | XXX | XXX | XXX | XXX | XXX | XXX |
| Prophecy International | XXX | XXX | XXX | XXX | XXX | XXX |
| Qoria | XXX | XXX | XXX | XXX | XXX | XXX |
| Quick Heal | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Cyan acquired XXX companies to date.
Last acquisition by Cyan was XXXXXXXX, XXXXX XXXXX XXXXXX . Cyan acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Cyan founded? | Cyan was founded in 2017. |
| Where is Cyan headquartered? | Cyan is headquartered in Germany. |
| How many employees does Cyan have? | As of today, Cyan has 124 employees. |
| Is Cyan publicy listed? | Yes, Cyan is a public company listed on FRA. |
| What is the stock symbol of Cyan? | Cyan trades under CYR ticker. |
| When did Cyan go public? | Cyan went public in 2018. |
| Who are competitors of Cyan? | Similar companies to Cyan include e.g. archTIS, FirstWave, Prophecy International, Qoria. |
| What is the current market cap of Cyan? | Cyan's current market cap is $61.9M |
| What is the current revenue of Cyan? | Cyan's last 12-month revenue is $8.3M. |
| What is the current EBITDA of Cyan? | Cyan's last 12-month EBITDA is -$1.2M. |
| What is the current EV/Revenue multiple of Cyan? | Current revenue multiple of Cyan is 7.5x. |
| What is the current EV/EBITDA multiple of Cyan? | Current EBITDA multiple of Cyan is -49.6x. |
| What is the current revenue growth of Cyan? | Cyan revenue growth between 2023 and 2024 was -45%. |
| Is Cyan profitable? | Yes, Cyan is EBITDA-positive (as of the last 12 months). |
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