Mangold Insights has raised the price target to EUR 0.045 (0.040) per share. Mangold has also welcomed the fact that revenues from Europe are the highest ever, as more deals from the area are expected to contribute to continued high growth.

Revenues increased to EUR 28.7 (25.1) million in the first half of 2024, corresponding to a growth rate of around 15 percent. The revenue was in line with Mangold’s estimate, which they believe shows that CYBER1 is on the right path. The gross margin was 21.0 (22.5) percent, which was slightly lower than estimate. However, personnel costs and other costs were lower than Mangold expected, which means that they will lower the operational costs projections moving forward. Mangold continues to estimate that CYBER1 will achieve full-year profitability in 2024.

Mangold repeats Buy with increased price target of EUR 0.045 (0.040) per share in 12 months’ time. This represents an upside of over 200 percent. Mangold continues to see that CYBER1 is undervalued given its expected cash flows.

The English version of the equity research is detailed in this release and can be found on our website under the analyst coverage section.

Historical analysis can be found on the below link:

Mangold Insight Website: https://mangold.se/mangold-insight/bolag/cyber-security-1/
 
About Mangold Insight
Mangold Insight is Mangold Fondkommission’s commissioned analysis service whose purpose is to contribute to new investor perspectives and raise the stock market’s eyes for small and medium growth companies listed on the trading venues Spotlight Stockmarket, NGM, Nasdaq First North Growth Market and Nasdaq Stockholm. The assignment analyses can then be accessed by investors free of charge and without membership via Mangold Insight’s website https://mangold.se/mangold-insight/