Cyabra Announces Record 2024 Financial Performance, Doubling Revenue and Strengthening Gross Margins
New York, NY, April 15, 2025 (GLOBE NEWSWIRE) -- Cyabra Strategy Ltd. ("Cyabra"), a leading AI platform for real-time disinformation detection, today announced its financial results for the fiscal year 2024, showcasing exceptional growth and strengthened gross margins. The company's revenue surged from $1.9 million in 2023 to $4.2 million in 2024, marking a 116% year-over-year increase. Additionally, Cyabra significantly improved its gross margins, rising from 69% in 2023 to 81% in 2024, reflecting enhanced operational efficiency and strong demand for its cutting-edge technology solutions.
"This past year has been transformative for Cyabra, as our capabilities continue to set the standard in the fight against disinformation," said Dan Brahmy, CEO and Co-Founder of Cyabra. "Our strong revenue growth and gross margin expansion demonstrate the increasing reliance of enterprises and governments on our technology to navigate the evolving digital landscape."
The company's robust performance in 2024 was driven by increased demand from both public and private sector clients, as organizations increasingly recognize the need to identify the sources of harmful narratives and inauthentic online activity.
Cyabra has entered into a business combination agreement with Trailblazer Merger Corporation I (NASDAQ:TBMC), a blank-check special-purpose acquisition company.
FINANCIAL RESULTS
Revenues for the year ended December 31, 2024, were approximately $4,155 thousand, reflecting an increase of 116% compared to $1,922 thousand for the year ended December 31, 2023. The growth in revenues was primarily due to an expansion in the customer base, with approximately 50% of 2024 revenues coming from new customers acquired during the year.
Cost of revenues for 2024 was approximately $782 thousand, marking an increase of 30% from $603 thousand in 2023. This increase was primarily driven by a higher level of commercial activity.
Research and development expenses for 2024 were approximately $4,653 thousand, an increase of 30% compared to $3,593 thousand in 2023, largely due to expanded payroll and personnel investments in Cyabra's R&D team.
Sales and marketing expenses for 2024 reached approximately $3,316 thousand, reflecting an increase of 21% from $2,738 thousand in 2023. This was primarily due to an increase in headcount and related expenses in sales and marketing teams.
General and administrative expenses for 2024 were approximately $4,602 thousand, an increase of 395% compared to $929 thousand in 2023. The increase was mainly attributed to higher professional services costs associated with the business combination with Trailblazer, along with increased payroll and related expenses.
Finance expenses for 2024 were approximately $6,398 thousand, an increase of 959% compared to $604 thousand in 2023. The increase was mainly due to increased expenses related to the revaluation of financial liabilities measured at fair value.
Total loss for 2024 amounted to approximately $15,610 thousand, reflecting an increase of 138% from $6,550 thousand in 2023, primarily driven by the factors described above.
About CyabraCyabra is a real-time AI-powered platform that uncovers and analyzes online disinformation and misinformation by uncovering fake profiles, harmful narratives, and GenAI content across social media and digital news channels. Cyabra's AI solutions protect corporations and governments against brand reputation risks, election manipulation, foreign interference, and other online threats. Cyabra's platform leverages proprietary algorithms and NLP solutions, gathering and analyzing publicly available data to provide clear, actionable insights and real-time alerts that inform critical decision-making. Cyabra uncovers the good, bad, and fake online.
For more information, visit www.cyabra.com
Media Contact:Jill Contact: Jillabra.24
Investor Relations Contact:Miri
About TrailblazerTrailblazer is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. For more information, visit: www.trailblazermergercorp.com
Consolidated Balance Sheets as of December 31, U.S. dollars in thousands (except share data)
2024
2023
Assets
Current assets
Cash and cash equivalents
927
520
Restricted cash
19
6
Accounts receivable
113
70
Other current assets
194
108
Total current assets
1,253
704
Non-Current Assets
Operating right-of-use asset
551
41
Property and equipment, net
143
98
Total non-current assets
694
139
Total Assets
1,947
843
Liabilities, Redeemable Convertible Preferred Shares and Capital Deficiency
Current liabilities
Trade accounts payable
1,084
141
Current maturities of long-term loans
1,175
