Cycurion Q1 revenue $3.9M, net loss $10.2M on non-cash charges; adjusted EBITDA turns positive

Cycurion, Inc.

Q1 revenue $3.9M; gross profit up 95% YoY to $678K; margin expanded to 17.5% from 8.2%.
Net loss of $10.2M includes $9.3M non-cash stock compensation and $1.2M merger costs; EPS ($0.56).
Adjusted EBITDA turned positive at $245K (6.3% margin) vs ($69K) loss in Q1 2024.
Secured $22M multi-year contract with State Police Agency; backlog at record levels.
Nasdaq continued listing confirmed; SEC Form 25 only removes predecessor units, not CYCU common or warrants.

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