Cycurion, Inc. Offers Insight on Second Quarter 2025 Results and Recent Business Activities
Cycurion (NASDAQ: CYCU), a cybersecurity and IT solutions provider, reported Q2 2025 results with a GAAP net loss of $0.15 per share ($0.04 adjusted). The quarter was marked by significant one-time expenses totaling over $3.5 million, including merger costs, compensation expenses, and integration costs.
Despite the losses, the company secured major contracts worth over $69 million, including a $33 million contract renewal with a state-level education group and a $22 million multi-year contract with a U.S. state police agency. The company successfully converted $3.5 million of debt to equity, strengthening its financial position.
Revenue for Q2 2025 was $3.89 million, down from $5.0 million in Q2 2024, with an 18-month backlog of work. The company continues to expand its AI-driven ARx platform and Cyber Shield offerings to capitalize on higher-margin opportunities.
Cycurion (NASDAQ: CYCU), fornitore di soluzioni informatiche e di cybersecurity, ha comunicato i risultati del secondo trimestre 2025 con una perdita GAAP di $0,15 per azione ( $0,04 rettificato). Il trimestre 猫 stato influenzato da spese straordinarie superiori a $3,5 milioni, tra cui costi legati alla fusione, oneri compensativi e spese di integrazione.
Nonostante la perdita, l鈥檃zienda ha ottenuto contratti rilevanti per oltre $69 milioni, tra cui il rinnovo di $33 milioni con un gruppo educativo statale e un contratto pluriennale di $22 milioni con un鈥檃genzia di polizia statale USA. Inoltre ha convertito con successo $3,5 milioni di debito in capitale, rafforzando la propria posizione finanziaria.
I ricavi del Q2 2025 sono stati di $3,89 milioni, in calo rispetto ai $5,0 milioni del Q2 2024, con un portafoglio ordini di 18 mesi. L鈥檃zienda prosegue nell鈥檈spansione della piattaforma ARx basata su AI e dell鈥檕fferta Cyber Shield per cogliere opportunit脿 a margine pi霉 elevato.
Cycurion (NASDAQ: CYCU), proveedor de soluciones de TI y ciberseguridad, inform贸 resultados del segundo trimestre de 2025 con una p茅rdida GAAP de $0.15 por acci贸n ( $0.04 ajustado). El trimestre estuvo marcado por gastos extraordinarios por m谩s de $3.5 millones, incluidos costes de fusi贸n, gastos de compensaci贸n y costes de integraci贸n.
A pesar de las p茅rdidas, la compa帽铆a asegur贸 contratos importantes por m谩s de $69 millones, entre ellos la renovaci贸n de $33 millones con un grupo educativo estatal y un contrato multianual de $22 millones con una agencia policial estatal de EE. UU. Adem谩s, convirti贸 con 茅xito $3.5 millones de deuda en capital, fortaleciendo su posici贸n financiera.
Los ingresos del Q2 2025 fueron de $3.89 millones, por debajo de los $5.0 millones del Q2 2024, con una cartera de trabajo de 18 meses. La empresa contin煤a ampliando su plataforma ARx impulsada por IA y la oferta Cyber Shield para aprovechar oportunidades de mayor margen.
Cycurion (NASDAQ: CYCU)鞚� 靷澊氩勲炒鞎� 氚� IT 靻旊（靺� 鞝滉车鞐呾泊搿滌劀 2025雲� 2攵勱赴 鞁れ爜鞚� 氚滍憸頄堨溂氅� GAAP 旮办 欤茧嫻 $0.15 靻愳嫟鞚� 旮半頄堨姷雼堧嫟(臁办爼 頉� $0.04). 鞚措矆 攵勱赴電� 頃╇硲 牍勳毄, 氤挫儊牍�, 韱淀暕 牍勳毄 霌膘潉 韽暔頃� 齑� $350毵� 鞚挫儊鞚� 鞚柬殞靹� 牍勳毄鞚� 韥矊 鞛戩毄頄堨姷雼堧嫟.
靻愳嫟鞐愲弰 攵堦惮頃橁碃 須岇偓電� 齑� $6900毵� 鞚挫儊 攴滊鞚� 欤检殧 瓿勳暯鞚� 頇曤炒頄堨溂氅�, 攴胳 欤检爼攵� 甑愳湣 攴鸽９瓿检潣 瓿勳暯 臧膘嫚鞚� $3300毵�, 氙戈淡 欤�(宸�) 瓴届鞍 旮瓣磤瓿检潣 雼る厔 瓿勳暯鞚� $2200毵�鞐� 雼暕雼堧嫟. 霕愴暅 $350毵�鞚� 攵�毂勲ゼ 靹标车鞝侅溂搿� 鞛愲掣鞙茧 鞝勴櫂頃� 鞛甑“毳� 臧滌劆頄堨姷雼堧嫟.
2025雲� 2攵勱赴 毵れ稖鞚� $389毵�鞙茧 2024雲� 2攵勱赴鞚� $500毵�氤措嫟 臧愳唽頄堨溂氅�, 18臧滌洈 攵勲焿鞚� 靾橃＜ 鞛旉碃毳� 氤挫湢頃橁碃 鞛堨姷雼堧嫟. 須岇偓電� 雿� 雴掛潃 毵堨 旮绊殞毳� 頇滌毄頃橁赴 鞙勴暣 AI 旮半皹 ARx 頂岆灚韽缄臣 Cyber Shield 鞝滍拡甑办潉 瓿勳啀 頇曥灔頃橁碃 鞛堨姷雼堧嫟.
Cycurion (NASDAQ: CYCU), fournisseur de solutions informatiques et de cybers茅curit茅, a annonc茅 ses r茅sultats du deuxi猫me trimestre 2025, affichant une perte GAAP de 0,15 $ par action ( 0,04 $ ajust茅). Le trimestre a 茅t茅 marqu茅 par des charges exceptionnelles sup茅rieures 脿 3,5 M$, incluant des co没ts de fusion, des frais de r茅mun茅ration et des co没ts d鈥檌nt茅gration.
Malgr茅 ces pertes, la soci茅t茅 a d茅croch茅 d鈥檌mportants contrats de plus de 69 M$, notamment le renouvellement d鈥檜n contrat de 33 M$ avec un groupement 茅ducatif d鈥檜n 脡tat et un contrat pluriannuel de 22 M$ avec une agence de police d鈥檜n 脡tat am茅ricain. Elle a 茅galement converti avec succ猫s 3,5 M$ de dette en capitaux propres, renfor莽ant sa situation financi猫re.
Le chiffre d鈥檃ffaires du T2 2025 s鈥櫭﹍猫ve 脿 3,89 M$, en baisse par rapport aux 5,0 M$ du T2 2024, avec un carnet de commandes couvrant 18 mois. L鈥檈ntreprise poursuit le d茅veloppement de sa plateforme ARx pilot茅e par l鈥橧A et de l鈥檕ffre Cyber Shield afin de saisir des opportunit茅s 脿 plus forte marge.
Cycurion (NASDAQ: CYCU), ein Anbieter von IT- und Cybersicherheitsl枚sungen, meldete die Ergebnisse f眉r Q2 2025 mit einem GAAP-Verlust von $0,15 je Aktie (bereinigt $0,04). Das Quartal war durch einmalige Aufwendungen von 眉ber $3,5 Millionen gepr盲gt, darunter Fusionskosten, Verg眉tungsaufwendungen und Integrationskosten.
Trotz der Verluste sicherte sich das Unternehmen Gro脽auftr盲ge im Wert von mehr als $69 Millionen, darunter eine Vertragsverl盲ngerung 眉ber $33 Millionen mit einer staatlichen Bildungsorganisation und einen mehrj盲hrigen Vertrag 眉ber $22 Millionen mit einer US-Bundesstaats-Polizeibeh枚rde. Zudem wandelte das Unternehmen erfolgreich $3,5 Millionen Schulden in Eigenkapital um und st盲rkte so seine Finanzlage.
Der Umsatz f眉r Q2 2025 lag bei $3,89 Millionen, gegen眉ber $5,0 Millionen im Q2 2024, bei einem Auftragsbestand von 18 Monaten. Das Unternehmen baut seine KI-gest眉tzte ARx-Plattform und das Cyber Shield-Angebot weiter aus, um margenst盲rkere Gesch盲ftsfelder zu nutzen.
- Secured over $69 million in new contracts and renewals
- Successfully converted $3.5 million from debt to equity
- 18-month backlog of scopes of work
- Strategic expansion into AI-driven cybersecurity solutions
- Multiple new strategic partnerships established
- Q2 2025 revenue declined 22.3% to $3.89M from $5.0M in Q2 2024
- GAAP net loss of $0.15 per share in Q2 2025 vs. profit of $0.02 in Q2 2024
- Operating expenses increased significantly to $4.0M from $294,790 year-over-year
- Gross profit decreased to $235,937 from $1.02M in Q2 2024
- Substantial one-time expenses totaling over $3.5M impacting profitability
Insights
Cycurion reports Q2 losses amid strategic restructuring, with significant contract wins potentially improving future performance despite current financial challenges.
Cycurion's Q2 2025 results reveal a company in transition, with a GAAP net loss of $0.15 per share that improves to an adjusted net loss of $0.04 when excluding one-time expenses. The quarter was heavily impacted by $3.58 million in non-recurring costs related to merger activities, integration efforts, compensation, and preferred stock conversions.
The balance sheet shows concerning liquidity issues with only $1.01 million in cash against current liabilities of nearly $20 million. The significant drop in accounts receivable from $10.35 million to $4.12 million between December 2024 and June 2025 suggests potential collection challenges or a substantial decrease in billable work.
Revenue declined substantially to $3.89 million for Q2 2025, down 22.3% from $5 million in Q2 2024. More concerning is the dramatic compression in gross margins from 20.5% to just 6.1% year-over-year, indicating significant pricing pressures or rising costs.
The operating loss of $3.77 million this quarter compared to an operating income of $729,372 in Q2 2024 demonstrates the significant financial strain from integration and restructuring efforts. Operating expenses ballooned to $4 million from $294,790 year-over-year 鈥� a 1,257% increase.
The positive development is Cycurion's conversion of $3.5 million in debt to equity, which improves its capital structure and reduces interest expenses. Additionally, the company has secured over $69 million in new contracts, including an impressive $33 million renewal with a higher education group and $22 million from a state police agency contract. These wins, coupled with the 18-month backlog, should provide revenue stability once the integration challenges subside.
Investors should monitor whether these contract wins translate into improved margins and revenue growth in coming quarters, particularly as integration costs normalize. The transition toward AI-driven cybersecurity platforms offers potential for margin expansion, but execution remains the key challenge given current financial constraints.
Company to host a conference call on August 19, 2025 to discuss in more detail
MCLEAN, Va., Aug. 15, 2025 (GLOBE NEWSWIRE) -- Cycurion, Inc. (NASDAQ: CYCU) (鈥淐ycurion鈥� or the 鈥淐ompany鈥�), a premier cybersecurity and IT solutions provider, following the release of its second-quarter financial results highlighting a period of strategic integration and debt reduction amid one-time expenses, will be conducting a business update on Tuesday, August 19, 2025 at 5:00PM ET to review additional highlights.
The Company鈥檚 quarterly results reflect a GAAP net loss of
- Merger Expenses: Incurred
$677,000 in costs related to merger activities during the second quarter - Compensation Expenses: Recorded
$1 million in compensation due to consulting costs associated with integration efforts - Stock Compensation: Issued
$1 million in stock compensation to former directors as part of transitional arrangements - Preferred Stock Conversions: Recognized
$900,000 in expenses from conversions to Series G Convertible Preferred Stock - Integration Costs: Faced additional operational expenses from integrating SLG Innovation Inc., which were previously separate, contributing to elevated short-term costs
Cycurion also successfully converted
Outside of the second quarter of 2025 results, Cycurion has made significant strides in recent months, securing high-value contracts and positioning itself for long-term growth as a leading AI-focused cybersecurity company. In June 2025, Cycurion announced over
Additionally, a
By investing in its AI-driven ARx platform and Cyber Shield offerings, Cycurion is capitalizing on higher-margin opportunities in the cybersecurity sector. The Company is committed to shareholder value and has a backlog of 18 months of scopes of work, which is beginning to net results, further strengthening its revenue pipeline.
Continued expansion into new client relationships and strategic partnerships, such as those with NACCHO, LSV-TECH S.A.S., and iQSTEL Inc., solidifies the Company鈥檚 market presence and sets a foundation for sustainable revenue growth.
To discuss these results and future plans, Cycurion will host a conference call with a Q&A session for shareholders on Tuesday, August 19, 2025, at 5:00 PM EDT. Those wishing to participate via webcast can use this to directly access the event. For those wishing to participate via telephone, first click on this call and complete the online registration form. Upon registering they will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details. Participants will then select a method for joining the call. Either a dial in number and unique PIN are displayed to connect directly from their phone or they can enter their phone number and click 鈥淐all Me鈥� for an immediate callback from the system. The call will come from a U.S. number.
About Cycurion, Inc.
Based in McLean, Virginia, Cycurion (NASDAQ: CYCU) is a forward-thinking provider of IT cybersecurity solutions and AI, committed to delivering secure, reliable, and innovative services to clients worldwide. Specializing in cybersecurity, program management, and business continuity, Cycurion harnesses its AI-enhanced ARx platform and expert team to empower clients and safeguard their operations. Along with its subsidiaries, Axxum Technologies, Cloudburst Security, and Cycurion Innovation, Inc., Cycurion serves government, healthcare, and corporate clients committed to securing the digital future.
More info: www.cycurion.com
Forward-Looking Statements
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the operations and prospective growth of Cycurion鈥檚 business.
Many factors could cause Cycurion鈥檚 actual results, performance, or achievements to be materially different from any future results, performance, or achievements described in this press release, including words such as 鈥渃ontinue鈥�, 鈥渆xpect鈥�, 鈥渋ntend鈥�, 鈥渨ill鈥�, 鈥渉ope鈥�, 鈥渟hould鈥�, 鈥渨ould鈥�, 鈥渕ay鈥�, 鈥減otential鈥�, and other similar expressions. Such factors could include, among others, those detailed in its Registration Statement on Form S-1 and in its Annual Report on Form 10-K, each as filed with the Securities and Exchange Commission (the 鈥淪EC鈥�). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled 鈥淩isk Factors鈥� in those filings with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and Cycurion does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. Cycurion cannot assure that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
These statements, including expectations for revenue conversion from the backlog, the benefits of the iQSTEL alliance and stock exchange, and the success of the digital currency strategy, are based on management鈥檚 current expectations and are subject to risks and uncertainties, including economic conditions, regulatory changes, and the Company鈥檚 ability to address liquidity concerns. For a discussion of these risks, please refer to Cycurion鈥檚 filings with the SEC.
Investor Relations Contact: Cycurion Investor Relations
[email protected]
(888) 341-6680
Media Relations Contact: Cycurion Communications
[email protected]
(888) 341-6680
| 听 | ||||||||
| CYCURION, INC. AND ITS SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited) | ||||||||
| 听 | ||||||||
| 听 | 听 | June 30, 2025 | 听 | 听 | December 31, 2024 | 听 | ||
| Assets: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash and cash equivalents | 听 | $ | 1,013,836 | 听 | 听 | $ | 38,742 | 听 |
| Restricted cash | 听 | 听 | - | 听 | 听 | 听 | 2,048 | 听 |
| Accounts receivable, net | 听 | 听 | 4,118,888 | 听 | 听 | 听 | 10,353,708 | 听 |
| Other receivables | 听 | 听 | 400,072 | 听 | 听 | 听 | 434,391 | 听 |
| Prepaid expenses and other current assets | 听 | 听 | 54,259 | 听 | 听 | 听 | 99,463 | 听 |
| Total current assets | 听 | 听 | 5,587,055 | 听 | 听 | 听 | 10,928,352 | 听 |
| Deposit for acquisition target | 听 | 听 | - | 听 | 听 | 听 | 2,000,000 | 听 |
| Property and equipment, net | 听 | 听 | 16,832 | 听 | 听 | 听 | 20,321 | 听 |
| Software development costs | 听 | 听 | 4,325,981 | 听 | 听 | 听 | 4,151,981 | 听 |
| Intangible assets, net | 听 | 听 | 7,917 | 听 | 听 | 听 | 25,000 | 听 |
| Security deposits | 听 | 听 | 10,351 | 听 | 听 | 听 | 10,351 | 听 |
| Goodwill | 听 | 听 | 20,788,299 | 听 | 听 | 听 | 6,592,304 | 听 |
| Investments held in trust account | 听 | 听 | - | 听 | 听 | 听 | 1,834,540 | 听 |
| Total non-current assets | 听 | 听 | 25,149,380 | 听 | 听 | 听 | 14,634,497 | 听 |
| Total Assets | 听 | $ | 30,736,435 | 听 | 听 | $ | 25,562,849 | 听 |
| Liabilities, Mezzanine and Stockholders鈥� Equity: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Bank loan-revolving credit line | 听 | $ | 3,236,167 | 听 | 听 | $ | 3,249,067 | 听 |
| Bank loan - current portion | 听 | 听 | 620,078 | 听 | 听 | 听 | 774,095 | 听 |
| Loans payable - current portion | 听 | 听 | 885,240 | 听 | 听 | 听 | 408,516 | 听 |
| Factoring liability | 听 | 听 | 2,309,160 | 听 | 听 | 听 | - | 听 |
| Subordinated convertible promissory notes | 听 | 听 | - | 听 | 听 | 听 | 3,333,335 | 听 |
| Promissory notes | 听 | 听 | 2,669,626 | 听 | 听 | 听 | 2,486,989 | 听 |
| Loans payable - related parties | 听 | 听 | 150,372 | 听 | 听 | 听 | 148,088 | 听 |
| Accounts payable | 听 | 听 | 5,088,223 | 听 | 听 | 听 | 3,578,374 | 听 |
| Due to related party | 听 | 听 | 18,000 | 听 | 听 | 听 | - | 听 |
| Accrued liabilities | 听 | 听 | 3,848,247 | 听 | 听 | 听 | 3,601,242 | 听 |
| Excise tax payable | 听 | 听 | 1,167,173 | 听 | 听 | 听 | 1,157,161 | 听 |
| Total current liabilities | 听 | 听 | 19,992,286 | 听 | 听 | 听 | 18,736,867 | 听 |
| Loans payable - non-current portion | 听 | 听 | 295,296 | 听 | 听 | 听 | 146,798 | 听 |
| Series A Convertible preferred stock ( | 听 | 听 | - | 听 | 听 | 听 | 1,294,117 | 听 |
| Total non-current liabilities | 听 | 听 | 295,296 | 听 | 听 | 听 | 1,440,915 | 听 |
| Total liabilities | 听 | 听 | 20,287,582 | 听 | 听 | 听 | 20,177,782 | 听 |
| Commitments and contingencies (Note 20) | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Mezzanine Equity: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Common stock subject to possible redemption, | 听 | 听 | - | 听 | 听 | 听 | 1,917,309 | 听 |
| Stockholders鈥� Equity: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Preferred stock ( | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Series A convertible preferred stock ( | 听 | 听 | 11 | 听 | 听 | 听 | - | 听 |
| Series B convertible preferred stock ( | 听 | 听 | - | 听 | 听 | 听 | - | 听 |
| Series C convertible preferred stock ( | 听 | 听 | - | 听 | 听 | 听 | - | 听 |
| Series D convertible preferred stock ( | 听 | 听 | 15 | 听 | 听 | 听 | - | 听 |
| Series E convertible preferred stock ( | 听 | 听 | - | 听 | 听 | 听 | - | 听 |
| Series F convertible preferred stock ( | 听 | 听 | - | 听 | 听 | 听 | - | 听 |
| Series G convertible preferred stock ( | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Common stock ( | 听 | 听 | 4,036 | 听 | 听 | 听 | 1,059 | 听 |
| Additional paid in capital | 听 | 听 | 32,661,282 | 听 | 听 | 听 | 6,670,060 | 听 |
| Accumulated deficit | 听 | 听 | (18,650,614 | ) | 听 | 听 | (3,203,361 | ) |
| Total stockholders鈥� equity attributable to Cycurion | 听 | 听 | 14,014,730 | 听 | 听 | 听 | 3,467,758 | 听 |
| Equity attributable to noncontrolling interests | 听 | 听 | (3,565,877 | ) | 听 | 听 | - | 听 |
| Total stockholders鈥� equity | 听 | 听 | 10,448,853 | 听 | 听 | 听 | 3,467,758 | 听 |
| Total liabilities and stockholders鈥� equity | 听 | $ | 30,736,435 | 听 | 听 | $ | 25,562,849 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| CYCURION, INC. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) | ||||||||||||||||
| 听 | ||||||||||||||||
| 听 | 听 | For the Three Months Ended | 听 | 听 | For the Six Months Ended | 听 | ||||||||||
| 听 | 听 | June 30, 2025 | 听 | 听 | June 30, 2024 | 听 | 听 | June 30, 2025 | 听 | 听 | June 30, 2024 | 听 | ||||
| Net revenues | 听 | $ | 3,887,915 | 听 | 听 | $ | 5,001,312 | 听 | 听 | $ | 7,757,965 | 听 | 听 | $ | 9,244,167 | 听 |
| Cost of revenues | 听 | 听 | 3,651,978 | 听 | 听 | 听 | 3,977,150 | 听 | 听 | 听 | 6,844,265 | 听 | 听 | 听 | 7,873,291 | 听 |
| Gross profit | 听 | 听 | 235,937 | 听 | 听 | 听 | 1,024,162 | 听 | 听 | 听 | 913,700 | 听 | 听 | 听 | 1,370,876 | 听 |
| Operating expenses: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Selling, general and administrative expenses | 听 | 听 | 4,002,014 | 听 | 听 | 听 | 294,790 | 听 | 听 | 听 | 14,777,281 | 听 | 听 | 听 | 673,767 | 听 |
| Operating (loss)/income | 听 | 听 | (3,766,077 | ) | 听 | 听 | 729,372 | 听 | 听 | 听 | (13,863,581 | ) | 听 | 听 | 697,109 | 听 |
| Interest income | 听 | 听 | - | 听 | 听 | 听 | 20,211 | 听 | 听 | 听 | - | 听 | 听 | 听 | 20,211 | 听 |
| Interest expense | 听 | 听 | (615,392 | ) | 听 | 听 | (482,355 | ) | 听 | 听 | (794,283 | ) | 听 | 听 | (713,830 | ) |
| Loss on debt settlement, net | 听 | 听 | (907,983 | ) | 听 | 听 | - | 听 | 听 | 听 | (766,330 | ) | 听 | 听 | - | 听 |
| Other (expense)/income | 听 | 听 | (962 | ) | 听 | 听 | 38,866 | 听 | 听 | 听 | (114,706 | ) | 听 | 听 | (9,871 | ) |
| Other expense, net | 听 | 听 | (1,524,337 | ) | 听 | 听 | (423,278 | ) | 听 | 听 | (1,675,319 | ) | 听 | 听 | (703,490 | ) |
| (Loss)/income before income taxes | 听 | 听 | (5,290,414 | ) | 听 | 听 | 306,094 | 听 | 听 | 听 | (15,538,900 | ) | 听 | 听 | (6,381 | ) |
| Provision for income tax | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 |
| Net (loss)/income | 听 | $ | (5,290,414 | ) | 听 | $ | 306,094 | 听 | 听 | $ | (15,538,900 | ) | 听 | $ | (6,381 | ) |
| Less: Net loss attributable to non-controlling interest | 听 | 听 | 101,659 | 听 | 听 | 听 | - | 听 | 听 | 听 | 101,659 | 听 | 听 | 听 | - | 听 |
| Net (loss)/income attributable to Cycurion | 听 | $ | (5,188,755 | ) | 听 | $ | 306,094 | 听 | 听 | $ | (15,437,241 | ) | 听 | $ | (6,381 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Comprehensive (loss)/income | 听 | $ | (5,188,755 | ) | 听 | $ | 306,094 | 听 | 听 | $ | (15,437,241 | ) | 听 | $ | (6,381 | ) |
| Earnings per share: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Basic | 听 | $ | (0.15 | ) | 听 | $ | 0.02 | 听 | 听 | $ | (0.58 | ) | 听 | $ | 0.02 | 听 |
| Diluted | 听 | $ | (0.15 | ) | 听 | $ | 0.01 | 听 | 听 | $ | (0.57 | ) | 听 | $ | 0.01 | 听 |
| Weighted average shares outstanding: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Basic | 听 | 听 | 34,791,716 | 听 | 听 | 听 | 14,968,215 | 听 | 听 | 听 | 26,707,978 | 听 | 听 | 听 | 14,968,215 | 听 |
| Diluted | 听 | 听 | 34,891,716 | 听 | 听 | 听 | 32,383,372 | 听 | 听 | 听 | 26,807,978 | 听 | 听 | 听 | 16,704,748 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| CYCURION, INC. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | ||||||||
| 听 | ||||||||
| 听 | 听 | For the Six Months Ended | 听 | |||||
| 听 | 听 | June 30, 2025 | 听 | 听 | June 30, 2024 | 听 | ||
| Cash flows from operating activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Net loss | 听 | $ | (15,538,900 | ) | 听 | $ | (6,381 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Stock based compensation | 听 | 听 | 10,534,777 | 听 | 听 | 听 | 10,000 | 听 |
| Amortization of debt discount | 听 | 听 | 213,036 | 听 | 听 | 听 | - | 听 |
| Depreciation of property and equipment | 听 | 听 | 3,489 | 听 | 听 | 听 | 4,394 | 听 |
| Amortization of software development costs | 听 | 听 | 17,083 | 听 | 听 | 听 | - | 听 |
| Loss on debt settlement, net | 听 | 听 | 766,330 | 听 | 听 | 听 | - | 听 |
| Finance expense | 听 | 听 | 100,000 | 听 | 听 | 听 | - | 听 |
| Changes in assets and liabilities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Accounts receivable, net and other receivables | 听 | 听 | (1,478,433 | ) | 听 | 听 | (1,267,911 | ) |
| Prepaid expenses and other current assets | 听 | 听 | 45,204 | 听 | 听 | 听 | 16,050 | 听 |
| Accounts payable and accrued liabilities | 听 | 听 | (965,708 | ) | 听 | 听 | 393,435 | 听 |
| Net cash used in operating activities | 听 | 听 | (6,303,122 | ) | 听 | 听 | (850,413 | ) |
| Cash flows from investing activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash acquired on acquisition of subsidiary | 听 | 听 | 34,983 | 听 | 听 | 听 | - | 听 |
| Issuance of promissory notes | 听 | 听 | - | 听 | 听 | 听 | (354,000 | ) |
| Purchase of plant and equipment | 听 | 听 | (174,000 | ) | 听 | 听 | (238,000 | ) |
| Cash withdrawn from Trust Account in connection with redemption | 听 | 听 | 1,001,216 | 听 | 听 | 听 | - | 听 |
| Release of Trust Account to Company鈥檚 bank account | 听 | 听 | 833,324 | 听 | 听 | 听 | - | 听 |
| Net cash provided by/(used in) investing activities | 听 | 听 | 1,695,523 | 听 | 听 | 听 | (592,000 | ) |
| Cash flows from financing activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Proceeds from exercise of warrants | 听 | 听 | 3,664,671 | 听 | 听 | 听 | - | 听 |
| Redemption of common stock subject to redemption | 听 | 听 | (1,001,216 | ) | 听 | 听 | - | 听 |
| Proceeds from private placement | 听 | 听 | - | 听 | 听 | 听 | 1,000,000 | 听 |
| Proceeds from capital raise | 听 | 听 | 265,504 | 听 | 听 | 听 | - | 听 |
| Net proceeds from line of credit | 听 | 听 | (12,900 | ) | 听 | 听 | 39,181 | 听 |
| Repayment of bank borrowings | 听 | 听 | (155,114 | ) | 听 | 听 | (6,503 | ) |
| Proceeds from convertible notes payable | 听 | 听 | 2,376,500 | 听 | 听 | 听 | - | 听 |
| Proceeds from notes payable | 听 | 听 | 513,200 | 听 | 听 | 听 | - | 听 |
| Repayments of notes payable | 听 | 听 | (70,000 | ) | 听 | 听 | - | 听 |
| Net cash provided by financing activities | 听 | 听 | 5,580,645 | 听 | 听 | 听 | 1,032,678 | 听 |
| Net increase/(decrease) in cash and cash equivalents | 听 | 听 | 973,046 | 听 | 听 | 听 | (409,735 | ) |
| Cash and cash equivalents, beginning of period | 听 | 听 | 40,790 | 听 | 听 | 听 | 607,869 | 听 |
| Cash and cash equivalents, end of period | 听 | $ | 1,013,836 | 听 | 听 | $ | 198,134 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| CYCURION, INC. AND ITS SUBSIDIARIES RECONCILIATION OF GAPP TO NON-GAAP MEASURES (Unaudited) | |||||||||||||||
| 听 | |||||||||||||||
| 听 | For the Three Months Ended | 听 | For the Six Months Ended | ||||||||||||
| 听 | June 30, 2025 | 听 | June 30, 2024 | 听 | June 30, 2025 | 听 | June 30, 2024 | ||||||||
| Net (loss)/income attributable to Cycurion | $ | (5,188,755 | ) | 听 | $ | 306,094 | 听 | 听 | $ | (15,437,241 | ) | 听 | $ | (6,381 | ) |
| Interest income | 听 | - | 听 | 听 | 听 | (20,211 | ) | 听 | 听 | - | 听 | 听 | 听 | (20,211 | ) |
| Interest expense | 听 | 615,392 | 听 | 听 | 听 | 482,355 | 听 | 听 | 听 | 794,283 | 听 | 听 | 听 | 713,830 | 听 |
| Other (expense)/income | 听 | 962 | 听 | 听 | 听 | (38,866 | ) | 听 | 听 | 114,706 | 听 | 听 | 听 | 9,871 | 听 |
| Depreciation and amortization | 听 | 10,530 | 听 | 听 | 听 | 2,197 | 听 | 听 | 听 | 20,572 | 听 | 听 | 听 | 4,394 | 听 |
| EBITDA (Non-GAAP) | 听 | (4,561,871 | ) | 听 | 听 | 731,569 | 听 | 听 | 听 | (14,507,680 | ) | 听 | 听 | 701,503 | 听 |
| Loss on debt settlement, net | 听 | 907,983 | 听 | 听 | 听 | - | 听 | 听 | 听 | 766,330 | 听 | 听 | 听 | - | 听 |
| Transaction related expenses | 听 | 1,676,228 | 听 | 听 | 听 | - | 听 | 听 | 听 | 12,114,122 | 听 | 听 | 听 | - | 听 |
| Finance expense | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 100,000 | 听 | 听 | 听 | - | 听 |
| Stock-based compensation expenses | 听 | 1,012,443 | 听 | 听 | 听 | - | 听 | 听 | 听 | 1,012,443 | 听 | 听 | 听 | - | 听 |
| Adjusted EBITDA (Non-GAAP) | $ | (965,217 | ) | 听 | $ | 731,569 | 听 | 听 | $ | (514,785 | ) | 听 | $ | 701,503 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
FAQ
What was Cycurion's (CYCU) Q2 2025 earnings per share?
How much new contract value did Cycurion secure in recent months?
What was Cycurion's Q2 2025 revenue compared to Q2 2024?
How much debt did Cycurion convert to equity in Q2 2025?
What were the major one-time expenses for Cycurion in Q2 2025?
