CYCU 8-K

Cycurion, Inc. (CYCU)

8-K 2026-05-14 For: 2026-05-14

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Added on May 14, 2026

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o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Exhibit No.						Description
99.1						Press Release dated May 14, 2026
104						Inline XBRL for the cover page of this Current Report on Form 8-K


Quarterly Consolidated Results of Operations
	For the Three Months Ended
	March 31, 2026			December 31, 2025			March 31, 2025
Revenue	$	3,268,620		$	3,542,644		$	3,870,050
Cost of revenue	2,580,262			3,114,505			3,192,287
Gross profit	688,358			428,139			677,763
Gross margin	21.1		%	12.1		%	17.5		%
Operating expenses:
Selling, general and administrative expenses	2,743,695			4,013,876			337,374
Stock compensation expenses	315,833			804,424			—
Business combination expenses	—			630,000			10,437,894
Total operating expenses	3,059,528			5,448,300			10,775,268
Operating loss	(2,371,170)			(5,020,161)			(10,097,505)
Interest income	14,236			25,768			—
Interest expense	(204,852)			(257,174)			(178,890)
Gain on debt settlement, net	—			(28,504)			141,653
Other expense	—			—			(113,744)
Other expense, net	(190,616)			(259,910)			(150,981)
Loss before income taxes	(2,561,786)			(5,280,071)			(10,248,486)
Provision for income tax	—			—			—
Net loss	(2,561,786)			(5,280,071)			(10,248,486)
Less: Net loss attributable to non-controlling interest	433,324			175,017			—
Net loss attributable to Cycurion	$	(2,128,462)		$	(5,105,054)		$	(10,248,486)


Reconciliation of Net Loss to EBITDA (Non-GAAP) and Adjusted EBITDA (Non-GAAP)
	For the Three Months Ended
	March 31, 2026		December 31, 2025		March 31, 2025
Net loss attributable to Cycurion	$	(2,128,462)	$	(5,105,054)	$	(10,248,486)
Interest income	(14,236)		(25,768)		—
Interest expense	204,852		257,174		178,890
Other expense	—		—		113,744
Depreciation and amortization	1,187		7,665		74,892
EBITDA (Non-GAAP)	(1,936,659)		(4,865,983)		(9,880,960)
Loss on debt settlement, net	—		28,504		(141,653)
Transaction related expenses	—		630,000		10,437,894
Finance expense	—		—		100,000
Stock-based compensation	315,833		904,424		—
Adjusted EBITDA (Non-GAAP)	$	(1,620,826)	$	(3,303,055)	$	515,281


	March 31, 2026		December 31, 2025
Assets:
Cash and cash equivalents	$	2,028,718	$	5,255,235
Accounts receivable, net	3,336,047		2,687,479
Prepaid expenses and other current assets	106,934		60,133
Total current assets	5,471,699		8,002,847
Software development costs, net	4,735,981		4,606,981
Goodwill	21,238,450		20,842,508
Total non-current assets	25,974,431		25,449,489
Total assets	$	31,446,130	$	33,452,336
Liabilities and Stockholders' Equity:
Liabilities:
Bank loan-revolving credit line	$	2,725,546	$	2,933,396
Loans payable - current portion	669,693		669,693
Factoring liability	1,566,887		1,511,678
Convertible notes	192,897		192,897
Promissory notes	2,500,849		2,499,662
Loans payable - related parties	123,650		123,650
Accounts payable	1,441,596		1,314,772
Accrued liabilities	4,283,045		4,228,337
Accrued compensation and benefits	1,306,906		919,825
Accrued interest payable	1,486,041		1,347,787
Excise tax payable	1,167,173		1,167,173
Total current liabilities	17,464,283		16,908,870
Loans payable - non-current portion	300,000		300,000
Total non-current liabilities	300,000		300,000
Total liabilities	17,764,283		17,208,870
Stockholders' Equity:
Preferred stock ($0.0001 par value, 20,000,000 shares authorized)
Series A convertible preferred stock ($0.0001 par value, 110,000 shares designated, 0 and 0 issued and outstanding, respectively)	—		—
Series B convertible preferred stock ($0.0001 par value, 3,000 shares designated, 0 and 1 issued and outstanding, respectively)	—		—
Series C convertible preferred stock ($0.0001 par value, 5,000 shares designated, 2,547 and 4,851 issued and outstanding, respectively)	—		—
Series D convertible preferred stock ($0.0001 par value, 6,666,700 shares designated, 150,000 and 150,000 issued and outstanding, respectively)	15		15
Series E convertible preferred stock ($0.0001 par value, 100 shares designated, 51 and 51 issued and outstanding, respectively)	—		—
Series F convertible preferred stock ($0.0001 par value, 10,000 shares designated, 0 and 0 issued and outstanding, respectively)	—		—
Series G convertible preferred stock ($0.0001 par value, 10,000 shares designated, 143 and 143 issued and outstanding, respectively)	—		—
Common stock ($0.0001 par value, 300,000,000 shares authorized, 5,510,021 and 3,642,501 shares issued and outstanding, respectively)	551		364
Additional paid in capital	46,979,742		46,979,762
Accumulated deficit	(29,007,543)		(26,879,081)
Total stockholders' equity attributable to Cycurion	17,972,765		20,101,060
Deficit attributable to noncontrolling interests	(4,290,918)		(3,857,594)
Total stockholders' equity	13,681,847		16,243,466
Total liabilities and stockholders’ equity	$	31,446,130	$	33,452,336


	For the Three Months Ended March 31,
	2026		2025
Revenue	$	3,268,620	$	3,870,050
Cost of revenue	2,580,262		3,192,287
Gross profit	688,358		677,763
Operating expenses:
Selling, general and administrative expenses	2,743,695		337,374
Stock compensation expenses	315,833		—
Business combination expenses	—		10,437,894
Total operating expenses	3,059,528		10,775,268
Operating loss	(2,371,170)		(10,097,505)
Other income/(expenses):
Interest income	14,236		—
Interest expense	(204,852)		(178,890)
Gain on debt settlement, net	—		141,653
Other expense, net	—		(113,744)
Other expenses, net	(190,616)		(150,981)
Loss before income taxes	(2,561,786)		(10,248,486)
Provision for income tax	—		—
Net loss	(2,561,786)		(10,248,486)
Less: Net loss attributable to non-controlling interest	433,324		—
Net loss attributable to Cycurion	$	(2,128,462)	$	(10,248,486)

Comprehensive loss	$	(2,128,462)	$	(10,248,486)

Loss per share:
Basic	$	(0.47)	$	(15.57)
Diluted	$	(0.47)	$	(7.40)
Weighted average shares outstanding:
Basic	4,561,976		658,218
Diluted	4,561,976		1,383,507