Cycurion, Inc. CYCU

Technology SIC 7371 - Services-Computer Programming Services Nasdaq

Cycurion, Inc. (collectively with its subsidiaries, the "Company," "Cycurion," "we," "us" or "our") is a publicly traded, cybersecurity and artificial intelligence ("AI")-powered IT solutions provider headquartered in McLean, Virginia. We were originally incorporated as KAE Holdings, Inc. under the laws of the State of Delaware in October 2017, with the purpose of acquiring and holding operating entities in the cybersecurity industry. On July 14, 2020, we changed our corporate name from KAE Holdings, Inc. to Cyber Secure Solutions, Inc., and, on February 24, 2021, to Cycurion, Inc.

On February 14, 2025, Cycurion completed the business combination and transactions (the "Business Combination") as set forth in an Agreement and Plan of Merger, dated November 21, 2022, as amended on April 26, 2024, December 31, 2024 and February 13, 2025 (the "Merger Agreement"), by and among Western Acquisition Ventures Corp. ("Western"), Western Acquisition Merger Inc., a Delaware corporation and a wholly-owned subsidiary of Western ("Merger Sub"), and Cycurion Sub, Inc., a Delaware corporation formerly known as Cycurion, Inc. ("Cycurion Sub"). As contemplated by the Merger Agreement, Merger Sub merged with and into Cycurion Sub with Cycurion Sub as surviving the merger as a wholly-owned subsidiary of Western. In addition, in connection with the consummation of the Business Combination, Western was renamed "Cycurion, Inc."

Last close 3.54 2026-09-04
Market cap $91.5M 2026-06-30 share count
52-week range 2.08 - 128.26

Valuation FY2025 figures against the last close

P/S6.0x
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-13.39

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Revenue $15.1M$17.8M$19.4M
Cost of revenue $13.5M$14.1M$16.7M
Gross profit $1.6M$3.6M$2.6M
R&D $0$0
SG&A $9.3M$1.2M$2.3M
Total operating expenses $25.0M$1.2M
Operating income -$23.4M$2.4M$326.4K-$2.0M
Interest expense $1.8M$1.2M$2.1M
Pre-tax income -$24.1M$1.2M-$2.1M-$450.2K
Income tax $0$0$3.8K$250.7K
Net income -$23.7M$1.2M-$2.1M-$700.9K
EPS, basic -13.444.35-0.14
EPS, diluted -13.391.66-0.14
Shares, diluted (wtd. avg.) $1.8M$904.9K$14.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Cash and equivalents $5.3M$38.7K$607.9K$809.5K$3.9K
Receivables $2.7M$10.4M$7.1M
Total current assets $8.0M$10.9M$8.4M$1.1M$3.9K
Property, plant and equipment $0$20.3K$33.7K
Goodwill $20.8M$6.6M$6.6M
Other intangibles $0$25.0K$41.7K
Total assets $33.5M$25.6M$20.8M$118.3M$327.0K
Accounts payable $1.3M$1.7M$2.1M$829.4K$6.0K
Short-term debt $204.2K
Total current liabilities $16.9M$18.7M$14.1M
Total liabilities $17.2M$20.2M$15.5M$1.2M$313.4K
Retained earnings -$26.9M-$3.2M-$4.4M-$1.9M-$11.4K
Total equity $20.1M$3.5M$5.2M$5.0M$13.6K$0

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Operating cash flow -$12.1M-$1.4M-$2.0M-$1.3M
Depreciation and amortisation $20.3K$13.3K$25.8K
Stock-based compensation $3.9M$10.0K$327.5K
Capital expenditure $455.0K$448.0K$12.8K
Investing cash flow $1.4M-$885.1K-$706.7K-$115.6M
Financing cash flow $15.9M$1.7M$3.2M$117.7M
Buybacks $1.0M$0$114.3M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-031976.

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