Cyberoo (CYB) H1 2023 earnings summary

Executive summary

• H1 2023 value of production rose 30.7% to €8.79m; revenue from sales and services increased 34.8% to €7.82m.

• EBITDA grew 53.9% to €2.96m; net profit was €1.16m.

• Growth was organic, led by Cyber Security & Device Security and recurring fees from new customers.

Financial highlights

• Revenue from sales and services was €7.82m, versus €5.80m in H1 2022; value of production was €8.79m, versus €6.73m.

• EBITDA was €2.96m versus €1.93m; EBIT was €1.84m versus €0.90m, and net profit was €1.16m versus €0.49m.

• Operating cash flow was €1.81m versus €1.15m in H1 2022; investing cash outflow was €2.39m and financing cash outflow €145,434.

• Cash ended the period at €3.72m, down from €4.45m at year-end 2022.

Outlook and guidance

• H2 outlook was positive despite a turbulent environment and potential economic obstacles.

• Poland expansion plans anticipated activating initial partners to replicate the business model and go-to-market approach.

• Development continued on customer-SOC mobile apps, CSI threat-intelligence features and V-NOC for proactive threat response.

• A three-tier SOC, combining AI operations with analyst and specialist teams in Ukraine, Poland and Italy, is intended to scale MDR support.