Cyan AG Reports 56% Revenue Growth in H1 2024

Munich, 26 September 2024 - cyan AG, a provider of intelligent cybersecurity solutions, announced a 56% increase in revenues for the first half of 2024, reaching EUR 3.2 million compared to EUR 2.1 million in H1 2023. This growth is driven by a strong increase in end customer numbers and stable costs, improving EBITDA to EUR -1.1 million from EUR -2.0 million.

CEO Thomas Kicker stated that the strategic focus on cybersecurity is yielding positive results. Key partnerships, such as with Orange Spain and wefox in Austria, have expanded cyan’s market reach. Anticipated collaborations with Orange Belgium and Claro Chile are expected to continue this trend.

With an increase in end customers, recurring revenues are poised to rise further. The company forecasts consolidated revenues to reach between EUR 6.6 million and EUR 7.4 million for the entire year of 2024, with significant EBITDA improvement at the Group level.