CYBER1 - Continued potential within cyber security - Mangold Insight Analysis
Mangold is updating the cyber security company Cyber Security 1 (”CYBER1”) following the second quarter. CYBER1's revenue increased by 19.7 percent in the second quarter of 2022, compared to the same period last year. Revenue was accordingly 7.3 percent lower than estimated for the quarter. The gross margin was lower than expected, driven by costs related to customer acquisition and price wars with competitors within the largest subsidiary Drs. CYBER1's subscription warrants of series TO1 had a exercise rate of approximately 86 percent, meaning the company received approximately MEUR 3.