Cyan AG Reports Strong Growth and Profitability Surge in 2024

Cyan AG, a cybersecurity solutions provider, has reported a notable revenue increase, reaching EUR 7.1 million in 2024 from EUR 4.7 million in 2023. Their EBITDA also saw improvement, standing at EUR -1.5 million compared to EUR -4.5 million the previous year. This growth signifies a positive shift following strategic realignment efforts.

The customer base expanded by 86%, facilitated by partnerships with major telecommunications firms like Orange Spain and Orange Belgium. Cyan also ventured into new sectors, initiating partnerships with insurance companies and launching a cybersecurity product tailored for SMEs.

CEO Thomas Kicker, having led these strategic transformations, will step down on July 31, 2025, to join Magenta Telekom in Austria. The search for his successor is underway, with CTO Markus Cserna poised to temporarily oversee operations. Looking ahead, Cyan anticipates further growth in 2025, projecting revenue between EUR 8.4 million and EUR 9.2 million.