Cyan supplies cybersecurity for end customers of mobile/fixed network operators and insurers. The acquisition of I-New created a second BSS/OSS segment addressing MVNOs (Mobile Virtual Network Operators). This segment includes traffic management solutions that enable MVNOs to reduce network congestion and corresponding costs. Cyan’s products are sold as white label solutions.More Cyan content >
Cyan’s share price has fallen 37% in the last two weeks. FY20 results confirmed the impact of COVID-19 continued into Q4 and management has reset expectations for FY21 (‘flat sales’). A new CEO is focused on growing (recurring) cybersecurity sales, albeit from a lower base. At a share price of €7.7, Cyan trades at a discount to peers but, after a second year of cutting forecasts, it may take time for it to re-establish its growth trajectory and for investors to regain confidence in the story.