Cyabra (CYAB) Registration filing summary

Company overview and business model

• AI/ML platform monitors public social media and news data in real time to assess account authenticity and sentiment, detect fake profiles, harmful narratives and GenAI content, and trace information spread.

• Revenue model centers on SaaS subscriptions, generally lasting several months to three years; additional offerings include two- to three-year on-premises licenses and fee-based managed reports.

• Customers include governments, defense and intelligence agencies, law enforcement and commercial businesses; use cases span national security, election monitoring, public safety and brand protection.

Financial performance and metrics

• H1 2026 revenue was $3.268M, up 26% YoY; ARR was $8.1M at June 30, 2026 versus $6.3M a year earlier, up 29%.

• FY2025 revenue was $5.707M, up 37% YoY, while ARR was $6.1M at both Dec. 31, 2025 and 2024; FY2025 net loss was $12.819M versus $15.610M in FY2024.

• H1 2026 net loss was $14.209M versus $5.760M in H1 2025; operating loss rose to $14.944M from $7.457M, including $5.4M stock-based compensation and $3.4M one-time Business Combination costs.

• Cash and cash equivalents were $0.794M at June 30, 2026; operating cash use was $4.995M in H1 2026 and accumulated deficit was $61.582M.

• Management said liquidity was insufficient to fund operations for 12 months from the June 30, 2026 balance-sheet date without further financing; auditors cited substantial doubt about continuing as a going concern.

Use of proceeds and capital allocation

• No proceeds will be received from selling shareholders’ resales; cash proceeds from warrant exercises, if exercised for cash, could total up to $1.117M and are earmarked for working capital and general corporate purposes.

• The July 2026 PIPE generated approximately $6M gross and $5.3M net proceeds; net proceeds are intended for working capital and general corporate purposes.

• Warrant exercises may be cashless, may never occur, or may yield no meaningful cash; future financing needs could require additional equity or debt and dilute existing holders.