cyan AG grows strongly in 2024 and significantly increases profitability – CEO hands over after successful realignment

cyan AG grows strongly in 2024 and significantly increases profitability – CEO hands over after successful realignment

• Consolidated operating sales increase to EUR 7.1 million (2023: EUR 4.7 million)
• Significant improvement in EBITDA to EUR -1.5 million (2023: EUR -4.5 million)
• End customer base significantly increased by 86%
• Investments in development and sales planned for further growth
• Outlook 2025: significant improvement in sales and EBITDA expected
• CEO Thomas Kicker moves to Magenta Austria – succession process started

Munich, May 15, 2025 – cyan AG, a provider of intelligent cybersecurity solutions, today presented its annual report for the year 2024, confirming the preliminary figures announced in mid-March. Consolidated operating revenue increased by more than 50% to EUR 7.1 million (2023: EUR 4.7 million). The significant sales growth is also reflected in the operating result (EBITDA). At EUR -1.5 million, this was significantly higher than in the previous year (2023: EUR -4.5 million) and underlines the company’s promising development. The progress is based on the consistent implementation of the growth strategy with simultaneous cost discipline – a process that was driven forward by CEO Thomas Kicker together with CTO and founder Markus Cserna. Mr. Kicker will leave the company on July 31, 2025 to take on a new role as CEO of Magenta Telekom in Austria. The Supervisory Board has commissioned a renowned headhunter to conduct a structured search for a successor. The search is already in full swing.

Thomas Kicker, CEO of cyan AG: “The ongoing digitalization of all industries and everyday life is being further accelerated by the increasingly widespread use of AI. It is therefore necessary to protect against cyber threats with state-of-the-art technology. In this dynamic environment, early and intensive use of our AI-supported ‘threat intelligence’ offers an important competitive advantage. With the strategy of protecting end customers via partnerships with telecommunications companies and the introduction of ‘cyan Guard 360’ to protect SMEs, we are delivering suitable market solutions. This puts cyan in an excellent position for further growth – strategically, technologically and operationally. It is a great honor for me to help shape this course together with Markus Cserna and a strong team. As CEO of Magenta Telekom in Austria, I will open a new personal chapter from August 2025, but I know that cyan is ideally positioned for the future and in strong hands.”

Significant growth and increasing profitability in 2024
One of the key drivers of the positive business development is the expansion of the end customer base. With an increase of 86% compared to the previous year, end customers increased even more significantly than in 2023 with growth of +71%. The majority of this growth is the result of recurring revenue from existing and new customers, which underlines the high stability and predictability of the business model. In addition, existing partnerships were further expanded and new market segments tapped into. Together with Orange Spain, the second-largest telecommunications provider in Spain, and Orange Belgium, one of the largest telecommunications providers in Belgium, successful product launches were realized and two further new customers were acquired from the Orange Group. cyan’s cybersecurity solutions are offered in both the business and private customer segments of – integrated into tariffs and as a stand-alone value-added solution.

The company has also initiated initial steps outside of its core business. After the first pilot test in the insurance sector with wefox and Allianz Partners, cyan is now also in talks with several other insurance companies. In addition, cyan has established a new business segment with a product designed and developed specifically for SMEs.

Management change from a position of strength – strategic continuity guaranteed
Under the leadership of Thomas Kicker, cyan has undergone a profound transformation. With a clear focus on cybersecurity and the successful completion of the sale of the I-New business, Mr. Kicker has consistently driven forward the strategic realignment of the company – and, together with CTO Markus Cserna, has significantly strengthened both the technological positioning and the operational performance. The 2024 business figures are a clear and positive result of this correct development.

On July 31, 2025, Thomas Kicker will leave the company at his own request to take on a new professional challenge as CEO of Magenta Telekom in Austria. The Supervisory Board would like to thank him for his outstanding performance and the close, trusting cooperation. The search for a successor has been initiated with the aim of presenting a new CEO as soon as possible. If there is still no new CEO after Kicker’s departure, CTO Markus Cserna will temporarily take over operational management as sole member of the Executive Board from August 1, 2025.

Further growth planned for 2025, Q1 2025 successful
The strategic focus in the 2024 financial year and the operational development form a good starting point for further growth in 2025. In the current financial year, cyan has already been able to enter the Latin American market with Claro Chile and the Mexican market with a new MVNO (Mobile Virtual Network Operator). In 2025, cyan is expected to expand into other interesting markets.

Another milestone is the market launch of “cyan Guard 360”. The product is specially tailored to the needs of SMEs. The easy-to-use cybersecurity solution is used as a “first line of defense” and integrated alongside existing antivirus solutions. Small and medium-sized companies in particular often have very limited resources for cybersecurity and are increasingly the target of cyberattacks such as phishing. cyan now offers these companies an efficient, reliable and cost-effective cybersecurity solution.

For the current financial year 2025, the management anticipates further sales growth to between EUR 8.4 million and EUR 9.2 million. EBITDA is expected to improve significantly once again with the aim of breaking even. To achieve this, new market potential is to be systematically tapped. This also includes further investments, particularly in the go-to-market area with a larger and stronger sales team. The aim here is to support customers more actively and enable better partnership-based support throughout the entire cooperation. At the same time, market penetration is to be further increased, particularly in the telecommunications sector, in order to tap into additional growth potential.

In the first quarter of 2025, cyan increased the number of end customers by 93% compared to the previous year and also achieved the targeted profitability.

About cyan
cyan AG (XETR: CYR) is a provider of intelligent cybersecurity solutions with more than 15 years of experience in the IT industry. The company offers IT security products for end customers of mobile and fixed network internet providers and financial service providers. cyan’s solutions are integrated as white label products into the apps and system landscape of international business partners, who then offer those to private and business customers under their own brand.

In addition, cyan operates its own research and development center with the aim of identifying trends in the industry at an early stage and developing optimal product solutions. cyan’s customers include among others the Orange Group, the telecom group Deutsche Telekom (Magenta/T-Mobile), Claro Chile (América Móvil Group) and dtac (Telenor Group).

More information at: www.cyansecurity.com

cyan AG Investor Relations:
cyan AG
Phone: +49 89 71042 2073
E-Mail: [email protected]

cyan AG Press contact:
Kirchhoff Consult GmbH
Phone: +49 40 60 91 86 65
E-Mail: [email protected]