Business
Cyberlux Corporation Reports FY 2024 Results with $48.4M in Revenue, 137% Growth Over 2023 and Strong Year-End Positioning
Cyberlux Corporation Reports FY 2024 Results with $48.4M in Revenue, 137% Growth Over 2023 and Strong Year-End Positioning.
About this update from Cyberlux Corp.
[{"type":"text","content":"\nCyberlux Corporation (OTC: CYBL), a leading provider of advanced defense technologies, unmanned aircraft systems, military communications and global defense solutions, today announced its financial results for the fiscal year ended December 31, 2024. The Company reported $48.4 million in total annual revenue, marking an increase of $27.9 million or 137% over 2023. The Company also narrowed its net loss by $5.2 million to $4.3 million, demonstrating meaningful progress toward profitability.\n\nThe Company is well positioned in 2025 with a $48.5 million current order backlog.\n\n“We finished the year with record revenue and strong execution across our business units,” said Mark Schmidt, CEO of Cyberlux Corporation. “With our year-over-year revenue growth, expanded contract wins, and successful integration of Datron, we’re entering 2025 with a robust foundation, growing backlog, and clear momentum for the years ahead.”\n\nFY 2024 Financial Highlights:\n\n\nFY 2024 Revenue: $48.4 million, a 137% increase over 2023\n\n\nQ4 Revenue: $23 million – highest quarterly performance in Company history\n\n\nNet Loss: Narrowed by $5.8 million to $4.3 million\n\n\nBacklog: Ended 2024 with a record backlog of approximately $48.5 million\n\n\nKey Contract Wins: Secured significant new business across all three business units, including a ~$22 million contract for aircraft landing systems (ILS) within the Global Integrated Services division\n\n\nStrategic Milestone: Successfully completed integration of the Datron World Communications acquisition, expanding defense communications capabilities\n\n\n“The key takeaway is that our operations are healthy and demand continues to rise,” added Schmidt. “We’re entering 2025 with strong momentum and a significant backlog for our business units to execute and drive our growth.”\n\nKey Financial Performance Metrics:\n\n\n\nCategory\n\n\n\n2024 ($M)\n\n\n\n2023 ($M)\n\n\n\n2022 ($M)\n\n\n\n\nRevenue\n\n48.4\n\n\n\n20.5\n\n\n\n5.0\n\n\n\n\nYoY Change\n\n+27.9\n\n\n\n+15.5\n\n\n\n--\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\nCash & Equivalents\n\n5.0\n\n\n\n3.2\n\n\n\n1.0\n\n\n\n\nYoY Change\n\n+1.8\n\n\n\n+2.2\n\n\n\n--\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\nOperating Loss\n\n(1.3)\n\n\n\n(3.4)\n\n\n\n(5.9)\n...