Cyber Security 1 (CYB1) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 was €20,001k, down from €28,700k in H1 2024, mainly due to the closure of Trinexia DMCC and the absence of large one-off deals from the prior year.

• Gross margin held steady at 22%, with managed services deals expected to improve margins in H2 2025.

• Operating expenses decreased by 15% year-over-year, reflecting cost streamlining and operational efficiencies.

• EBITDA loss narrowed to -€509k in H1 2025 from -€1,746k in H2 2024, indicating progress toward profitability.

• Strategic focus shifted to high-growth regions and managed services, with a new board appointed to drive long-term value.

Financial highlights

• Net revenue: €20,001k (H1 2025), €28,700k (H1 2024).

• Gross margin: €4,351k (22%) in H1 2025, compared to €6,018k (21%) in H1 2024.

• Operating margin: -3.1% in H1 2025, down from 0.5% in H1 2024.

• Profit before tax: -€732k in H1 2025, compared to -€155k in H1 2024.

• Earnings per share: -0.0007 in H1 2025.

• Cash flow from operations: €555k in H1 2025, up from -€2,379k in H1 2024.

Outlook and guidance

• Focus on increasing recurring revenue through managed services and Next-Gen SOC.

• Continued investment in managed services, skilled resources, and cloud platforms.

• Anticipates ongoing organic growth, with a shift toward higher-margin, niche technical products.

• Cost management protocols and expense reduction to support financial sustainability.