Cyberoo (CYB) H1 2025 earnings summary

Executive summary

• H1 production value rose 3.24% to €10.399m while revenue was broadly stable at €9.057m; EBITDA fell to €2.174m, mainly reflecting Keatrix investment and consulting mix.

• NIS2-driven vCISO activity added nearly 200 clients, creating potential for MDR adoption; Keatrix is planned to launch in December 2025.

Financial highlights

• Revenue was €9.057m versus €9.092m in H1 2024; production value was €10.399m versus €10.073m.

• EBITDA was €2.174m versus €2.809m; EBIT was €673,598 versus €1.379m, and net profit was €313,226 versus €865,763.

• Costs of production rose to €8.23m from €7.26m, including personnel costs of €3.59m versus €3.31m and materials costs of €3.36m versus €2.66m.

• Operating cash flow was €437,301 versus negative €1.04m; investing cash flow was negative €3.89m, and cash closed at €2.930m versus €6.447m at year-end 2024.

Outlook and guidance

• NIS2 obligations through 2026 are expected to support demand for vCISO consulting, incident-response planning and MDR services; H2 results are expected to consolidate as MDR uptake grows.

• Priorities include expanding MDR among vCISO clients, strengthening partner networks in Poland and Spain, and launching Keatrix in December 2025.

• Plans call for 5–6 international openings in 2025–2029 through organic growth and strategic M&A; a three-year Polish agreement will deploy Cypeer Keera.

• Factoring, distributor financing and flexible leasing of multi-year software licenses are under evaluation to support collections and cash flow.