Scryb Reports Positive Q1 2026: Cash Increased 50%, Liabilities Down 27%, Remains Largest Shareholder of Cybeats

Executive Summary

• Scryb filed its audited Q1 2026 consolidated financial statements and MD&A, showing a 50% increase in cash to $1.2 M and a 68% rise in working capital to ~$2 M.
• Total liabilities dropped 27% to $1.9 M (and further to ~$0.9 M by Feb 24), while operating expenses fell 82% YoY to ~$327 k, cutting the monthly burn rate to ~$100 k.
• The company highlighted its 36.5% stake (~75 M shares) in Cybeats, now valued at roughly $14 M, and noted a new partnership between Cybeats and Keysight Technologies.

Key Details

• Cash & Liquidity: Cash increased from $0.8 M (Sept 30 2025) to $1.2 M; working capital rose from $1.2 M to ~$2 M, enhancing operational flexibility.
• Liabilities: Total liabilities fell from $2.6 M to $1.9 M at quarter‑end, then further to ~$0.9 M by Feb 24—a 52% reduction since the quarter end, driven by debt repayments, government loan reductions, and early lease termination.
• Operating Expenses: Quarterly operating expenses declined from ~$1.8 M (YoY) to ~$327 k, an 82% decrease; monthly burn rate now ~ $100 k with additional cost‑reduction initiatives planned for 2026.
• Cybeats Investment: Scryb holds ~75 M Cybeats common shares (~36.5% ownership), valued at ≈$14 M based on a closing price of $0.185 per share (Feb 24).
• Portfolio Update – Cybeats/Keysight Partnership: On Feb 24, Cybeats announced a partnership with Keysight Technologies to deliver integrated SBOM‑driven security workflows for enterprise customers; Keysight has an approximate market cap of $50 B. Scryb views this as a positive commercial development for its largest portfolio holding.
• Management Quote: “We firmly believe Scryb remains undervalued…following substantial improvements to our balance sheet, the Company continues to trade at a more than 50% discount to the net asset value (NAV) of our holdings…” – James Van Staveren, CEO.

Notable Quotes

“We are actively pursuing new high‑conviction opportunities to build on our strengthened foundation, and are enthusiastic about unlocking and demonstrating our long‑term potential to the market throughout 2026.” – James Van Staveren, CEO, Scryb.