CYABRA, INC.

Cyabra Strategy Ltd., founded in 2017 and headquartered in Tel Aviv, Israel, develops an AI and machine learning platform that detects disinformation, fake accounts, bot networks, and GenAI-generated content across social media and news sites. Targeting governments and corporations, Cyabra offers SaaS subscriptions, on-premises licenses, and managed services to protect national security, elections, public safety, and brand reputation. For the year ended December 31, 2025, Cyabra reported revenues of $5.707 million (up 37% from $4.155 million in 2024), gross profit of $4.841 million, but a net loss of $12.819 million and accumulated deficit of $47.373 million, with total assets of $1.458 million and cash of $294,000. This S-1/A registers up to 14,042,892 shares of Cyabra, Inc. (f/k/a Trailblazer Holdings, Inc.) common stock for resale by selling shareholders, including founder shares, PIPE shares, and shares from convertible notes, following the March 2026 Business Combination with Trailblazer Merger Corporation I via reverse recapitalization. No new proceeds to the company; resale at market prices on Nasdaq (CYAB). The investment thesis centers on Cyabra's proprietary algorithms addressing the growing disinformation threat, with ARR stable at $6.1 million amid 53 employees, positioning it in a market Gartner projects to exceed $500 billion by 2028, though ongoing losses and funding needs persist.

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