Business
Cycurion Reports Full Year 2024 Financial Results
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)
About this update from Cycurion, Inc.
[{"type":"text","content":"Adjusted EBITDA of $2.3 million (+59% y/y); Generated $1.2 million of Net Income\nMCLEAN, 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 millionSG&A expenses reduced by 47.5%, demonstrating operational efficiency and tighter strategic focusAdjusted 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 2025U.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 2025Launched Cyber Shield Managed Security Services Platf...