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, identify fake profiles, harmful narratives, and GenAI content.

• Revenue model centers on SaaS subscriptions, generally lasting several months to three years; also offers two-to-three-year on-premises licenses and paid managed reports.

• Serves government and commercial users in national security, election integrity, law enforcement, brand protection, and consumer insights; 58 full-time and 2 part-time employees as of Oct. 7, 2026.

• Nasdaq Global Market listing began after the March 27, 2026 business combination; shares trade as CYAB.

Financial performance and metrics

• H1 2026 revenue $3.3M, up 26% YoY; gross profit $2.8M, up 27%; net loss $14.2M vs. $5.8M in H1 2025.

• ARR was $8.1M at June 30, 2026 vs. $6.3M a year earlier; management cited new-customer bookings late in 2025 as a leading indicator of revenue expected over the coming year.

• FY2025 revenue $5.7M, up 37% YoY; gross profit $4.8M; net loss $12.8M vs. $15.6M in FY2024. ARR was $6.1M at both year-ends.

• Cash and cash equivalents were $0.8M at June 30, 2026; H1 operating cash outflow was $5.0M and financing inflow $5.6M.

• Accumulated deficit reached $61.6M at June 30, 2026; management said available liquidity was insufficient for at least 12 months from the financial-statement date without further fundraising, raising substantial doubt about going concern.

Use of proceeds and capital allocation

• Selling shareholders receive all resale proceeds; no proceeds accrue from their sales. Cash exercise of the registered warrants could yield up to ~$3.2M gross for working capital and general corporate purposes.

• The July 2026 PIPE raised ~$6M gross and ~$5.3M net after placement fees and offering expenses; net proceeds were intended for working capital and general corporate purposes.

• Warrant exercise proceeds are uncertain: warrants may be exercised cashlessly or expire unexercised, and further capital may be required to support operations.