Cycurion projects $30M run-rate, drops reverse split plan
Cycurion, Inc. (NASDAQ: CYCU), a McLean, Virginia-based cybersecurity company, released a shareholder video interview with Chairman and Chief Executive Officer Kevin Kelly outlining the company's operational outlook, acquisition strategy, and response to suspected market manipulation.
According to the press release, management expects the company to finish the year with a revenue run-rate exceeding $30 million, compared with approximately $15 million the prior year. The company attributed the growth projection to acquisitions, backlog expansion, and new contract wins, including the integration of Digital Ally.
Cycurion stated it has been reducing liabilities and streamlining operations while investing in personnel. The company said newer product offerings are generating higher margins and supporting recurring revenue opportunities, with management citing the small- and medium-sized business market as an area of focus.
On acquisitions, Kelly said the company targets candidates capable of contributing strong EBITDA performance. "We are focused on acquiring businesses that can be integrated efficiently, enhance our capabilities, and contribute meaningfully to profitability and cash flow," he said.
Cycurion also confirmed it will not proceed with a previously contemplated reverse stock split. Management stated the decision followed a review of information gathered through ongoing investigative efforts into suspected market manipulation and trading irregularities affecting its shares.
