Liquidity remains a critical concern as the company continues to burn cash, evidenced by a free cash flow margin of -92.4% in the most recent quarter.
| Cash from Operations | -12.23M | -12.09M | -1.37M | -1.99M | -1.32M | -2.97K |
| Operating CF Margin % | - | -79.86% | -7.72% | -10.27% | - | - |
| Operating CF Growth % | -1353.17% | -781.39% | 31.01% | -50.77% | -44276.71% | - |
| Net Income | -15.55M | -23.67M | 1.23M | -2.1M | -700.92K | -11.37K |
| Depreciation & Amortization | 233.24K | 242.09K | 30.01K | 42.49K | 0 | 0 |
| Stock-Based Compensation | -5.04M | 3.9M | 10K | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 8.03M | 8.05M | 6.57K | 1.4M | -1.57M | 0 |
| Working Capital Changes | 521.14K | -613.65K | -2.65M | -1.34M | 948.9K | 8.4K |
| Change in Receivables | 1.02M | 363.4K | -3.24M | -4.64M | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -184.2K | -836.59K | 908.85K | 3.11M | 0 | 0 |
| Cash from Investing | -514K | 1.41M | -885.07K | -706.71K | -115.63M | -98.12K |
| Capital Expenditures | -514K | -455K | -448K | -506.71K | 0 | 0 |
| CapEx % of Revenue | 3.54% | 3.01% | 2.52% | 2.62% | - | - |
| Acquisitions | 0 | 34.98K | 2.05K | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 0 | 833.32K | -439.11K | -200K | 525K | -98.12K |
| Cash from Financing | 12.5M | 15.89M | 1.69M | 3.21M | 117.75M | 105K |
| Debt Issued (Net) | 385.78K | 1.46M | 689.27K | 1.21M | -80K | 80K |
| Equity Issued (Net) | 12.12M | 14.43M | 1M | 2M | 117.83M | 25K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -1M | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | -240.48K | 5.21M | -567.08K | -201.61K | 805.57K | 3.91K |
| Free Cash Flow | -12.75M | -12.54M | -1.82M | -2M | -1.32M | -2.97K |
| FCF Margin % | -87.7% | -82.87% | -10.24% | -10.34% | - | - |
| FCF Growth % | -151.1% | -589.36% | 9.06% | -51.74% | -44291.58% | - |
| FCF per Share | -2.79 | -7.12 | -4.56 | -5.01 | -3.30 | -0.01 |
| FCF Conversion (FCF/Net Income) | 0.82x | 0.51x | -1.11x | 0.95x | 1.88x | 0.26x |
| Interest Paid | 0 | 0 | 0 | 501.34K | 475.34K | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and capital exhaustion
According to quarterly financial data, Cycurion consistently reports negative operating cash flow despite net income volatility, with the OCF/NI ratio frequently diverging from parity, most notably in 2024Q3 where the company recorded a -2.71 ratio, signaling a fundamental inability to convert accounting profits into actual liquidity.
The recurring gap between net income and operating cash flow suggests that the company's reported earnings are heavily influenced by non-cash items or accounting adjustments that do not reflect the underlying cash-generative capacity of the business. Investors should monitor this persistent negative conversion, as it indicates that the core service delivery model is consuming rather than generating cash resources.
As reported in recent financial statements, Cycurion's free cash flow remains deeply negative, with margins reaching as low as -98.8% in 2025Q4, illustrating a structural cash burn that has persisted across the last ten quarters without any clear evidence of a path toward positive cash generation.
The consistent failure to achieve positive free cash flow suggests that the company's operational scale is insufficient to cover its fixed costs and capital requirements. This trajectory implies that the business model is currently dependent on external financing or cash reserves to sustain operations, which warrants significant caution regarding long-term solvency.
Based on the provided cash flow statements, working capital changes have been highly erratic, swinging from a $1.1 million inflow in 2025Q4 to a $1.8 million outflow in 2025Q1, which suggests significant instability in the company's ability to manage its receivables and payables effectively.
The high volatility in working capital movements likely reflects the unpredictable nature of federal contract billing cycles and potential delays in collections. This instability complicates cash flow forecasting and suggests that the company lacks the operational maturity to maintain a predictable cash conversion cycle.
As indicated by historical cash flow data, Cycurion has utilized limited capital for share repurchases and acquisitions, such as the $1.0 million buyback in 2025Q1, despite operating in a persistent cash-burning state that appears to prioritize capital return over essential operational stabilization.
The allocation of scarce cash resources toward share repurchases while the company continues to report significant operating losses suggests a misalignment in capital allocation priorities. This strategy appears to have eroded the company's cash runway, leaving it in a vulnerable position as it faces ongoing revenue contraction.
Quick answers to the most common questions about buying CYCU stock.
Cycurion, Inc. Common Stock (CYCU) generated $-12.1M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Cycurion, Inc. Common Stock (CYCU) reported negative free cash flow of $12.5M in 2025, indicating capital requirements exceeded cash from operations.
Cycurion, Inc. Common Stock (CYCU) spent $0.5M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Cycurion, Inc. Common Stock (CYCU) spent $1.0M on share repurchases. This shows the company's commitment to returning capital to its equity investors.