Trooperstocks
19 hours ago
$CYCU News: Cycurion Reports Full Year 2024 Financial Results
Cycurion
Thu, April 17, 2025 at 8:00 AM EDT
In This Article:
CYCU, CYCUW
Adjusted EBITDA of $2.3 million (+59% y/y); Generated $1.2 million of Net Income
MCLEAN, Va., April 17, 2025 (GLOBE NEWSWIRE) -- Cycurion (Nasdaq: CYCU) (“Cycurion” or the “Company”), a trusted leader in IT cybersecurity solutions and AI, reports financial results for full year ended December 31, 2024, and provides a corporate update highlighting a year of strategic execution, operational discipline, and solid financial performance.
Cycurion is poised for a strong 2025, driven by a strategic overhaul focused on sustainable growth and innovation. Over the past year, the company streamlined operations, significantly cutting General and Administrative (G&A) expenses while boosting gross profit for greater financial strength. Cycurion invested heavily in AI-driven technology, sharpening its competitive edge. By pivoting away from low-margin clients to high-value opportunities, the Company has built a robust framework for organic growth while paving the way for expansion, entering 2025 with clear momentum and vision.
Financial Highlights
Revenues of $17.8 million
SG&A expenses reduced by 47.5%, demonstrating operational efficiency and tighter strategic focus
Adjusted EBITDA of $2.3 million, up 58.9% year-over-year with an expanded margin of 12.9% vs $1.4 million (7.4% margin) in FY2023, reflecting strong cost management and scalable operations
Net income of $1.2 million, a significant turnaround from a net loss of $2.1 million in FY2023 — marking Cycurion’s first full year of net profitability
Earnings per share improvement to $0.07 basic and $0.01 fully diluted, versus $(0.14) in both categories in FY2023
Free Cash Flow improvement to $(1.8) million from $(2.5) million despite growth investments in personnel and platform development
2024 & YTD 2025 Strategic, Technological and Corporate Milestones
Cycurion significantly expanded its next-generation product and services portfolio, further solidifying its position as a trusted partner in advanced cybersecurity solutions:
Listed & Began Trading on Nasdaq: Completed merger with Western Acquisition Ventures in February 2025
U.S. Launch of AI-driven SaaS ARx Cybersecurity Platform: New high margin, AI-driven cybersecurity solution expands Company’s reach following strong initial reception in the government and public sectors in March 2025
Launched Cyber Shield Managed Security Services Platform (MSSP) Launch: Includes SOC as Service, External Attack Surface Management, Web Application Firewall and Virtual CISO Support & Consulting
Expanded Partnership with Journal Technologies: Secured $22 million multi-year contract with State Police Agency
Strengthened Board of Directors Appointing Two Highly Accomplished IT Professionals: Kevin O’Brien and Reginald Bailey bring a combined 55 years of IT, Big Data and AI industry, entrepreneurial and C-suite experience to Cycurion
Management Commentary
Kevin Kelly, Cycurion CEO, stated, “We are pleased with Cycurion’s 2024 performance, especially with our ability to produce meaningful adjusted EBITDA growth coupled with positive net income of $1.2 million. This is particularly significant given an 8.2% revenue decrease due to non-recurring, one-time equipment purchases in 2023. Our strong foundation positions us for continued growth with tremendous momentum with both current and new clients, which will become evident over the next 3-6 months underpinning our belief of a promising 2025.”
About Cycurion
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 with a commitment to securing the digital future.
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’s business.
Many factors could cause Cycurion’s 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 “continue”, “expect”, “intend”, “will”, “hope”, “should”, “would”, “may”, “potential”, and other similar expressions. Such factors could include, among others, those detailed in its Registration Statement on Form S-4, as filed with the Securities and Exchange Commission (the “SEC”). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in that filing 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.
Investor Contact:
CORE IR
investors@cycurion.com
Media Contact:
Phone: (703) 555-0123
Email: media@cycurion.com
Trooperstocks
1 week ago
$CYCU News: Cycurion Announces Reginald S. Bailey, Sr Joins Board of Directors
Cycurion
Thu, April 10, 2025 at 8:15 AM EDT 4 min read
In This Article:
CYCU, CYCUW
+7.92%
MCLEAN, Va., April 10, 2025 (GLOBE NEWSWIRE) -- Cycurion (Nasdaq: CYCU) (“Cycurion” or the “Company”), a trusted leader in IT cybersecurity solutions and AI, announces that industry veteran Reginald S. Bailey, Sr. has joined its Board of Directors, effective from the close of the Company’s recent de-SPAC transaction.
Reginald S. Bailey is a high-performance operator that drives growth and profitability with complex operations. He is an accomplished entrepreneur with over 29 years of experience in C-suite roles to include CEO and COO. With a proven track record to scaling companies from startup to multimillion-dollar operations, Mr. Bailey combines entrepreneurial vision with disciplined leadership to deliver superior results for investors and stakeholders. In previous leadership roles and client engagements with George Washington University, Worldwide Network Services, AAR Corp and Hofmann Brands, Mr. Bailey has led supply chain & IT reengineering initiatives, global infrastructure operations for National Defense initiatives in post-conflict environments, M&A initiatives and brand expansions.
Mr. Bailey commented, “I am thrilled at the opportunity to help guide Cycurion with my fellow Board members and look forward to many years of success and growth. Cycurion offers an important service among industries where cybersecurity is paramount, and I believe they are developing best practices to address these regularly evolving issues.”
Mr. Bailey is a co-founder and Chief Operating Officer of Cysurance LLC, a Wilmington Delaware-based next-generation, InsurTech Managing General Agency (MGA) that certifies security products and solution providers with warranty certifications and cyber insurance solutions. He also serves as Managing Principal of BoxTop Growth Partners, a boutique advisory firm helping early-stage and high-growth businesses scale through capital strategy, brand development, M&A advisory, and operational transformation. Prior to Cysurance, Mr. Bailey served as the CEO of Hofmann Brands of Syracuse, NY where he transformed the regional consumer brand into one of the top-ranked brands with national distribution across thousands of retail outlets. Prior to Hofmann, Mr. Bailey co-founded and led Washington, DC-based, Worldwide Network Services, LLC (WWNS), which was one of the fastest growing SBA-certified defense contracting companies in the country, specializing in the engineering, design, installation, and maintenance of private networks within hazardous, remote, or geographically challenged environments worldwide. Mr. Bailey earned a Bachelor of Science in Business Management from North Carolina Agricultural & Technical State University.
“Reginald’s technology development, operational and investment experience add important elements to our Board,” said Kevin Kelly, Cycurion CEO. “We look forward to collaborating closely with him and the rest of the Board to continue to drive shareholder value and create new opportunities for growth.”
About Cycurion
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 with a commitment to securing the digital future.
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’s business.
Many factors could cause Cycurion’s 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 “continue”, “expect”, “intend”, “will”, “hope”, “should”, “would”, “may”, “potential”, and other similar expressions. Such factors could include, among others, those detailed in its Registration Statement on Form S-4, as filed with the Securities and Exchange Commission (the “SEC”). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in that filing 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.
Investor Contact:
CORE IR
investors@cycurion.com
Media Contact:
Phone: (703) 555-0123
Email: media@cycurion.com
Trooperstocks
1 week ago
NEWS: Cycurion, Inc. Expands Partnership with Journal Technologies, Secures $22 Million Contract with State Police Agency
Cycurion
Tue, April 8, 2025 at 8:00 AM EDT 4 min read
In This Article:
CYCU - CYCUW
FALLS CHURCH, Va., April 08, 2025 (GLOBE NEWSWIRE) -- Cycurion, Inc. (NASDAQ: CYCU), a trailblazer in advanced cybersecurity and information technology solutions, today announces an expanded partnership with Journal Technologies, a leading provider of case management and operational solutions for justice agencies worldwide. Together, the companies have been awarded a $22 million multi-year contract to deliver a state-of-the-art criminal justice case management system to a State Police agency, reinforcing Cycurion’s leadership in securing critical justice infrastructure.
The web-based solution, powered by Journal Technologies’ robust eSeries Framework platform, provides comprehensive case management, tracking, and reporting capabilities. Designed to streamline the initiation, planning, execution, control, and reporting of prosecution and investigative activities, the system prioritizes cybersecurity resilience to protect sensitive data and operations from escalating cyber threats. With decades of justice-sector expertise embedded in the eSeries Framework, the platform delivers document management, workflow automation, database organization, forms processing, and seamless third-party integrations enhanced by Cycurion’s cutting-edge security expertise.
“Cycurion’s partnership with Journal Technologies provides the tools to empower the State Police with a solution that not only optimizes operational efficiency but also sets a new standard for cybersecurity in the justice sector,” said Kevin Kelly, CEO of Cycurion, Inc. “This collaboration reflects our commitment to safeguarding critical systems while driving innovation across the offender life cycle.”
AI-Powered Cybersecurity Expansion
This landmark contract aligns with Cycurion’s strategic vision to expand its cybersecurity business, with artificial intelligence (AI) at the core of its growth strategy. By embedding AI-driven capabilities into its justice-sector offerings, Cycurion is redefining how government and law enforcement agencies combat cyber threats. The company’s Cyber Shield MSSP (Managed Security Service Provider) solution, now enhanced with AI, delivers advanced threat detection, automated response protocols, and predictive vulnerability analysis—ensuring unparalleled protection for mission-critical operations. This $22 million engagement underscores Cycurion’s dedication to scaling its AI-powered cybersecurity solutions, cementing its position as a market leader in delivering transformative, high-impact security to the public sector.
Drawing on its extensive experience in integrated justice and data administration, Cycurion strengthens the eSeries Framework with industry-leading security measures. As an active member of the Integrated Justice Information Systems (IJIS) Institute, the National Sheriff’s Association, and standards committees of the National Information Exchange Model (NIEM), Cycurion shapes the future of secure data exchange and justice technology. The Cyber Shield MSSP solution offers tailored, AI-enhanced protections across the offender life cycle, safeguarding sensitive data and operations in an increasingly digital world.
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 with a commitment to securing the digital future.
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’s business.
Many factors could cause Cycurion’s 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 “continue”, “expect”, “intend”, “will”, “hope”, “should”, “would”, “may”, “potential”, and other similar expressions. Such factors could include, among others, those detailed in its Registration Statement on Form S-4, as filed with the Securities and Exchange Commission (the “SEC”). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in that filing 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.
Investor Contact:
CORE IR
investors@cycurion.com
Media Contact:
Phone: (703) 555-0123
Email: media@cycurion.com
Trooperstocks
2 weeks ago
$CYCU NEWS: Cycurion Announces Industry Veteran Kevin O’Brien Joins Board of Directors
Cycurion
Thu, April 3, 2025 at 8:15 AM EDT
In This Article:
CYCU, CYCUW
MCLEAN, Va., April 03, 2025 (GLOBE NEWSWIRE) -- Cycurion (Nasdaq: CYCU) (“Cycurion” or the “Company”), a trusted leader in IT cybersecurity solutions and AI, announces that industry veteran Kevin O’Brien has joined its Board of Directors, effective from the close of the Company’s recent de-SPAC transaction.
Kevin O’Brien brings more than 25 years of experience in the commercialization of Big Data, Artificial Intelligence, and Analytics, including three rounds as a top C-Suite executive and CEO. In his roles, he has designed, overseen, and implemented products that provide more timely, unbiased, and normalized actionable insights from public and anonymized sensors and data sets in sectors such as financial services, technology, business services, and national security. Kevin leverages his financial technology expertise and tradecraft to commercialize category-defining products and services focused on the unmet needs of information intensive enterprises, networks, and exchanges across the globe. He has also overseen each firm’s sales efforts, putting them on positive revenue growth trajectories, as well as having led multiple rounds of financings with strategic and financial investors for a total of more than $200 million. In addition, Mr. O’Brien has also been the force behind developing marketable AI models, indices, and tradable securities, consistently appearing in the media to explain his verifiable economic and security insights that give business and national security professionals real-time informational advantages.
“Cycurion has emerged as a leading cybersecurity provider,” commented Kevin O’Brien. “In particular, the recently announced groundbreaking AI-powered ARx Security Platform has the potential to revolutionize the cybersecurity market. I am delighted to have recently become a member of the Board of Directors, and I believe my decades of experience in the industry will help contribute to long-term growth and increasing Cycurion’s stockholder value.”
Mr. O’Brien is currently the President of Chainalysis Government Solutions (CGS), a wholly owned subsidiary of Chainalysis, Inc. and a leading provider of advanced blockchain analytics, software and solutions to financial services and government institutions across the globe. Prior to Chainalysis, Mr. O’Brien was the CEO of Orbital Insight, Inc., an industry defining geospatial software and analytics company that spearheaded the development and commercialization of advanced AI, Computer Vision, and Machine Learning technologies to deliver real time intelligence and insights to major commercial and government clients. Before joining Orbital Insight, he held executive positions at FactSet Research Systems, Inc., Revere Data, LLC, Gradience, Inc., and Reuters Group PLC.
Kevin originally trained as a software engineer working in the aerospace, electronics and systems integration industries. He holds a Bachelor of Business Administration degree in Management Information Systems from James Madison University, and an MBA in Innovation, Strategy and Information Technology from the EDHEC Business School in Nice, France. Mr. O’Brien holds dual nationality in the US and EU, has lived and worked in Germany, France, and the United Kingdom, and conducted business throughout Asia and the Middle East.
“Kevin’s deep experience in innovation, commercialization and corporate leadership make him a valued member of our Board,” said Kevin Kelly, Cycurion CEO. “Hise accomplishments as an executive in the IT cybersecurity field with extensive experience in both the private sector and governmental organizations and considerable expertise will be extremely valuable as we execute our growth strategies to capitalize on the rapidly growing global demand for cybersecurity solutions.”
About Cycurion
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 with a commitment to securing the digital future.
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’s business.
Many factors could cause Cycurion’s 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 “continue”, “expect”, “intend”, “will”, “hope”, “should”, “would”, “may”, “potential”, and other similar expressions. Such factors could include, among others, those detailed in its Registration Statement on Form S-4, as filed with the Securities and Exchange Commission (the “SEC”). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in that filing 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.
Investor Contact:
CORE IR
investors@cycurion.com
Media Contact:
Phone: (703) 555-0123
Email: media@cycurion.com
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