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    Cycurion, Inc. Offers Insight on Second Quarter 2025 Results and Recent Business Activities

    8/15/25 9:00:00 AM ET
    $CYCU
    EDP Services
    Technology
    Get the next $CYCU alert in real time by email

    MCLEAN, Va., Aug. 15, 2025 (GLOBE NEWSWIRE) -- Cycurion, Inc. (NASDAQ:CYCU) ("Cycurion" or the "Company"), 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's quarterly results reflect a GAAP net loss of $0.15 per share, however, after adjusting for multiple unusual, non-recurring expenses our adjusted net loss is approximately $0.04 per share, providing a clearer view of the company's underlying performance. These items include:

    • 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 $3.5 million from debt to equity in the second quarter, improving its financial position and reducing future interest obligations

    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 $8 million in new contracts with government and commercial clients, including a $6 million agreement with a major municipal transportation agency for comprehensive IT and cybersecurity solutions.

    Additionally, a $33 million contract renewal was secured with a major state-level public higher education group, extending through November 2030, and a $22 million multi-year contract was awarded by a U.S. state police agency in partnership with Journal Technologies. The company also secured three multi-year contracts worth up to $6 million across program management, cybersecurity, and disaster recovery services. These contracts, totaling over $69 million in recent awards, reflect strong market demand for Cycurion's innovative solutions.

    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's 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 link to directly access the event. For those wishing to participate via telephone, first click on this call link 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 "Call Me" 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'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-1 and in its Annual Report on Form 10-K, each 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 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's current expectations and are subject to risks and uncertainties, including economic conditions, regulatory changes, and the Company's ability to address liquidity concerns. For a discussion of these risks, please refer to Cycurion's 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

     
    CYCURION, INC. AND ITS SUBSIDIARIES

    CONSOLIDATED BALANCE SHEETS

    (Unaudited)
     
      June 30, 2025  December 31, 2024 
    Assets:        
    Cash and cash equivalents $1,013,836  $38,742 
    Restricted cash  -   2,048 
    Accounts receivable, net  4,118,888   10,353,708 
    Other receivables  400,072   434,391 
    Prepaid expenses and other current assets  54,259   99,463 
    Total current assets  5,587,055   10,928,352 
    Deposit for acquisition target  -   2,000,000 
    Property and equipment, net  16,832   20,321 
    Software development costs  4,325,981   4,151,981 
    Intangible assets, net  7,917   25,000 
    Security deposits  10,351   10,351 
    Goodwill  20,788,299   6,592,304 
    Investments held in trust account  -   1,834,540 
    Total non-current assets  25,149,380   14,634,497 
    Total Assets $30,736,435  $25,562,849 
    Liabilities, Mezzanine and Stockholders' Equity:        
    Bank loan-revolving credit line $3,236,167  $3,249,067 
    Bank loan - current portion  620,078   774,095 
    Loans payable - current portion  885,240   408,516 
    Factoring liability  2,309,160   - 
    Subordinated convertible promissory notes  -   3,333,335 
    Promissory notes  2,669,626   2,486,989 
    Loans payable - related parties  150,372   148,088 
    Accounts payable  5,088,223   3,578,374 
    Due to related party  18,000   - 
    Accrued liabilities  3,848,247   3,601,242 
    Excise tax payable  1,167,173   1,157,161 
    Total current liabilities  19,992,286   18,736,867 
    Loans payable - non-current portion  295,296   146,798 
    Series A Convertible preferred stock ($0.001 par value, 500,000 shares designated, 0 and 345,528 issued and outstanding, respectively)  -   1,294,117 
    Total non-current liabilities  295,296   1,440,915 
    Total liabilities  20,287,582   20,177,782 
    Commitments and contingencies (Note 20)        
    Mezzanine Equity:        
    Common stock subject to possible redemption, $0.0001 par value, 0 and 173,879 shares at redemption value of approximately $11.03 per share, respectively  -   1,917,309 
    Stockholders' Equity:        
    Preferred stock ($0.0001 par value, 20,000,000 shares authorized)        
    Series A convertible preferred stock ($0.0001 par value, 110,000 shares designated, 106,816 and 0 issued and outstanding, respectively)  11   - 
    Series B convertible preferred stock ($0.0001 par value, 3,000 shares designated, 1 and 3,000 issued and outstanding, respectively)  -   - 
    Series C convertible preferred stock ($0.0001 par value, 5,000 shares designated, 4,851 issued and outstanding)  -   - 
    Series D convertible preferred stock ($0.0001 par value, 6,666,700 shares designated, 150,000 and 0 issued and outstanding, respectively)  15   - 
    Series E convertible preferred stock ($0.0001 par value, 100 shares designated, 51 and 0 issued and outstanding, respectively)  -   - 
    Series F convertible preferred stock ($0.0001 par value, 10,000 shares designated, 0 and 0 issued and outstanding, respectively)  -   - 
    Series G convertible preferred stock ($0.0001 par value, 10,000 shares designated, 3,318 and 0 issued and outstanding, respectively)        
    Common stock ($0.0001 par value, 100,000,000 shares authorized, 40,353,983 and 10,592,607 shares issued and outstanding, respectively)  4,036   1,059 
    Additional paid in capital  32,661,282   6,670,060 
    Accumulated deficit  (18,650,614)  (3,203,361)
    Total stockholders' equity attributable to Cycurion  14,014,730   3,467,758 
    Equity attributable to noncontrolling interests  (3,565,877)  - 
    Total stockholders' equity  10,448,853   3,467,758 
    Total liabilities and stockholders' equity $30,736,435  $25,562,849 
             



    CYCURION, INC. AND ITS SUBSIDIARIES

    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

    (Unaudited)
     
      For the Three Months Ended  For the Six Months Ended 
      June 30, 2025  June 30, 2024  June 30, 2025  June 30, 2024 
    Net revenues $3,887,915  $5,001,312  $7,757,965  $9,244,167 
    Cost of revenues  3,651,978   3,977,150   6,844,265   7,873,291 
    Gross profit  235,937   1,024,162   913,700   1,370,876 
    Operating expenses:                
    Selling, general and administrative expenses  4,002,014   294,790   14,777,281   673,767 
    Operating (loss)/income  (3,766,077)  729,372   (13,863,581)  697,109 
    Interest income  -   20,211   -   20,211 
    Interest expense  (615,392)  (482,355)  (794,283)  (713,830)
    Loss on debt settlement, net  (907,983)  -   (766,330)  - 
    Other (expense)/income  (962)  38,866   (114,706)  (9,871)
    Other expense, net  (1,524,337)  (423,278)  (1,675,319)  (703,490)
    (Loss)/income before income taxes  (5,290,414)  306,094   (15,538,900)  (6,381)
    Provision for income tax  -   -   -   - 
    Net (loss)/income $(5,290,414) $306,094  $(15,538,900) $(6,381)
    Less: Net loss attributable to non-controlling interest  101,659   -   101,659   - 
    Net (loss)/income attributable to Cycurion $(5,188,755) $306,094  $(15,437,241) $(6,381)
                     
    Comprehensive (loss)/income $(5,188,755) $306,094  $(15,437,241) $(6,381)
    Earnings per share:                
    Basic $(0.15) $0.02  $(0.58) $0.02 
    Diluted $(0.15) $0.01  $(0.57) $0.01 
    Weighted average shares outstanding:                
    Basic  34,791,716   14,968,215   26,707,978   14,968,215 
    Diluted  34,891,716   32,383,372   26,807,978   16,704,748 
                     



    CYCURION, INC. AND ITS SUBSIDIARIES

    CONSOLIDATED STATEMENTS OF CASH FLOWS

    (Unaudited)
     
      For the Six Months Ended 
      June 30, 2025  June 30, 2024 
    Cash flows from operating activities:        
    Net loss $(15,538,900) $(6,381)
    Adjustments to reconcile net loss to net cash used in operating activities:        
    Stock based compensation  10,534,777   10,000 
    Amortization of debt discount  213,036   - 
    Depreciation of property and equipment  3,489   4,394 
    Amortization of software development costs  17,083   - 
    Loss on debt settlement, net  766,330   - 
    Finance expense  100,000   - 
    Changes in assets and liabilities:        
    Accounts receivable, net and other receivables  (1,478,433)  (1,267,911)
    Prepaid expenses and other current assets  45,204   16,050 
    Accounts payable and accrued liabilities  (965,708)  393,435 
    Net cash used in operating activities  (6,303,122)  (850,413)
    Cash flows from investing activities:        
    Cash acquired on acquisition of subsidiary  34,983   - 
    Issuance of promissory notes  -   (354,000)
    Purchase of plant and equipment  (174,000)  (238,000)
    Cash withdrawn from Trust Account in connection with redemption  1,001,216   - 
    Release of Trust Account to Company's bank account  833,324   - 
    Net cash provided by/(used in) investing activities  1,695,523   (592,000)
    Cash flows from financing activities:        
    Proceeds from exercise of warrants  3,664,671   - 
    Redemption of common stock subject to redemption  (1,001,216)  - 
    Proceeds from private placement  -   1,000,000 
    Proceeds from capital raise  265,504   - 
    Net proceeds from line of credit  (12,900)  39,181 
    Repayment of bank borrowings  (155,114)  (6,503)
    Proceeds from convertible notes payable  2,376,500   - 
    Proceeds from notes payable  513,200   - 
    Repayments of notes payable  (70,000)  - 
    Net cash provided by financing activities  5,580,645   1,032,678 
    Net increase/(decrease) in cash and cash equivalents  973,046   (409,735)
    Cash and cash equivalents, beginning of period  40,790   607,869 
    Cash and cash equivalents, end of period $1,013,836  $198,134 
             



    CYCURION, INC. AND ITS SUBSIDIARIES

    RECONCILIATION OF GAPP TO NON-GAAP MEASURES

    (Unaudited)
     
     For the Three Months Ended For the Six Months Ended
     June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024
    Net (loss)/income attributable to Cycurion$(5,188,755) $306,094  $(15,437,241) $(6,381)
    Interest income -   (20,211)  -   (20,211)
    Interest expense 615,392   482,355   794,283   713,830 
    Other (expense)/income 962   (38,866)  114,706   9,871 
    Depreciation and amortization 10,530   2,197   20,572   4,394 
    EBITDA (Non-GAAP) (4,561,871)  731,569   (14,507,680)  701,503 
    Loss on debt settlement, net 907,983   -   766,330   - 
    Transaction related expenses 1,676,228   -   12,114,122   - 
    Finance expense -   -   100,000   - 
    Stock-based compensation expenses 1,012,443   -   1,012,443   - 
    Adjusted EBITDA (Non-GAAP)$(965,217) $731,569  $(514,785) $701,503 
                    


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