Quarterly ResultMay 14, 2026, 04:09 PM
Cycurion Q1 Net Loss $2.13M; Going Concern Doubt Remains
AI Summary
Cycurion reported a net loss of $2.13 million for Q1 2026, an improvement from the $10.25 million loss in Q1 2025, primarily due to significantly lower operating expenses. However, revenue decreased to $3.27 million from $3.87 million year-over-year. The company continues to face substantial doubt about its ability to continue as a going concern, with an accumulated deficit of $29.0 million and a working capital deficit of $12.0 million as of March 31, 2026. Management plans to improve operations and raise additional capital through a public offering.
Key Highlights
- Net loss attributable to Cycurion was $(2.13) million for Q1 2026, an improvement from $(10.25) million in Q1 2025.
- Revenue decreased to $3.27 million in Q1 2026 from $3.87 million in Q1 2025.
- Basic loss per share improved to $(0.47) in Q1 2026 from $(15.57) in Q1 2025.
- As of March 31, 2026, the company had an accumulated deficit of $29.0 million and a working capital deficit of $12.0 million.
- Net cash used in operating activities was $(2.89) million for the three months ended March 31, 2026.
- Cash and cash equivalents decreased to $2.03 million as of March 31, 2026, from $5.26 million at December 31, 2025.
- Cycurion regained compliance with Nasdaq's Bid Price Rule by November 11, 2025.
- A one-for-thirty reverse stock split was effective on October 27, 2025.