Cycurion Reports Full Year 2024 Financial Results
Cycurion (NASDAQ: CYCU) reported its full year 2024 financial results, marking its first year of net profitability with $1.2 million in net income, a significant improvement from a $2.1 million loss in 2023. The cybersecurity and AI solutions provider achieved revenues of $17.8 million and increased its Adjusted EBITDA by 58.9% to $2.3 million, with margins expanding to 12.9% from 7.4% in 2023.
The company demonstrated operational efficiency by reducing SG&A expenses by 47.5% and improved earnings per share to $0.07 basic and $0.01 fully diluted. Free Cash Flow improved to $(1.8) million from $(2.5) million. Notable achievements include completing a merger with Western Acquisition Ventures, launching the AI-driven SaaS ARx Cybersecurity Platform, and securing a $22 million multi-year contract with a State Police Agency.
Cycurion (NASDAQ: CYCU) ha comunicato i risultati finanziari dell'intero anno 2024, segnando il suo primo anno di redditività netta con un utile netto di 1,2 milioni di dollari, un miglioramento significativo rispetto alla perdita di 2,1 milioni di dollari del 2023. Il fornitore di soluzioni per la cybersecurity e l'IA ha raggiunto ricavi per 17,8 milioni di dollari e ha incrementato l'EBITDA rettificato del 58,9%, arrivando a 2,3 milioni di dollari, con un margine che è cresciuto al 12,9% dal 7,4% del 2023.
L'azienda ha dimostrato efficienza operativa riducendo le spese SG&A del 47,5% e migliorando l'utile per azione a 0,07 dollari base e 0,01 dollari fully diluted. Il flusso di cassa libero è migliorato a -1,8 milioni di dollari rispetto a -2,5 milioni. Tra i risultati rilevanti si segnalano la conclusione della fusione con Western Acquisition Ventures, il lancio della piattaforma SaaS ARx Cybersecurity basata sull'IA e l'aggiudicazione di un contratto pluriennale da 22 milioni di dollari con un'agenzia di polizia statale.
Cycurion (NASDAQ: CYCU) reportó sus resultados financieros del año completo 2024, marcando su primer año con rentabilidad neta con 1,2 millones de dólares de ingreso neto, una mejora significativa respecto a la pérdida de 2,1 millones en 2023. El proveedor de soluciones de ciberseguridad e IA alcanzó ingresos de 17,8 millones de dólares y aumentó su EBITDA ajustado en un 58,9% hasta 2,3 millones de dólares, con un margen que creció a 12,9% desde 7,4% en 2023.
La compañía demostró eficiencia operativa al reducir gastos SG&A en un 47,5% y mejoró las ganancias por acción a 0,07 dólares básicos y 0,01 dólares fully diluted. El flujo de caja libre mejoró a -1,8 millones desde -2,5 millones. Logros destacados incluyen la finalización de una fusión con Western Acquisition Ventures, el lanzamiento de la plataforma SaaS ARx Cybersecurity impulsada por IA y la obtención de un contrato multianual por 22 millones de dólares con una agencia estatal de policía.
Cycurion (NASDAQ: CYCU)은 2024년 전체 재무 실적을 발표하며, 120만 달러의 순이익으로 첫 순이익 달성 연도를 기록했습니다. 이는 2023년 210만 달러 손실에서 크게 개선된 수치입니다. 사이버보안 및 AI 솔루션 제공업체인 이 회사는 1780만 달러의 매출을 달성했으며, 조정 EBITDA는 58.9% 증가한 230만 달러로, 마진은 2023년 7.4%에서 12.9%로 확대되었습니다.
회사는 SG&A 비용을 47.5% 감축하며 운영 효율성을 입증했으며, 주당순이익은 기본 0.07달러, 희석 후 0.01달러로 개선되었습니다. 자유 현금 흐름은 -250만 달러에서 -180만 달러로 개선되었습니다. 주요 성과로는 Western Acquisition Ventures와의 합병 완료, AI 기반 SaaS ARx 사이버보안 플랫폼 출시, 주 경찰청과의 2200만 달러 다년 계약 체결이 포함됩니다.
Cycurion (NASDAQ : CYCU) a publié ses résultats financiers pour l'année complète 2024, enregistrant sa première année de rentabilité nette avec un bénéfice net de 1,2 million de dollars, une amélioration significative par rapport à une perte de 2,1 millions en 2023. Le fournisseur de solutions en cybersécurité et intelligence artificielle a réalisé un chiffre d'affaires de 17,8 millions de dollars et augmenté son EBITDA ajusté de 58,9 % à 2,3 millions de dollars, avec une marge qui est passée de 7,4 % en 2023 à 12,9 %.
L'entreprise a démontré une efficacité opérationnelle en réduisant ses dépenses SG&A de 47,5 % et a amélioré son bénéfice par action à 0,07 dollar de base et 0,01 dollar dilué. Le flux de trésorerie libre s'est amélioré à -1,8 million de dollars contre -2,5 millions. Parmi les réalisations notables figurent la finalisation d'une fusion avec Western Acquisition Ventures, le lancement de la plateforme SaaS ARx Cybersecurity pilotée par l'IA, ainsi que la signature d'un contrat pluriannuel de 22 millions de dollars avec une agence de police d'État.
Cycurion (NASDAQ: CYCU) veröffentlichte seine Finanzergebnisse für das Gesamtjahr 2024 und verzeichnete im ersten Jahr einen Nettogewinn von 1,2 Millionen US-Dollar, eine deutliche Verbesserung gegenüber einem Verlust von 2,1 Millionen US-Dollar im Jahr 2023. Der Anbieter von Cybersecurity- und KI-Lösungen erzielte Umsätze von 17,8 Millionen US-Dollar und steigerte das bereinigte EBITDA um 58,9 % auf 2,3 Millionen US-Dollar, wobei die Marge von 7,4 % im Jahr 2023 auf 12,9 % anstieg.
Das Unternehmen zeigte operative Effizienz durch eine Reduzierung der SG&A-Ausgaben um 47,5 % und verbesserte das Ergebnis je Aktie auf 0,07 US-Dollar unverwässert und 0,01 US-Dollar verwässert. Der Free Cashflow verbesserte sich von -2,5 Millionen auf -1,8 Millionen US-Dollar. Zu den bemerkenswerten Erfolgen zählen der Abschluss einer Fusion mit Western Acquisition Ventures, die Einführung der KI-gesteuerten SaaS ARx Cybersecurity-Plattform und der Abschluss eines mehrjährigen Vertrags über 22 Millionen US-Dollar mit einer staatlichen Polizeibehörde.
- First year of profitability with $1.2M net income vs $2.1M loss in 2023
- Adjusted EBITDA increased 58.9% to $2.3M with margin expansion to 12.9%
- SG&A expenses reduced by 47.5%
- Secured $22M multi-year contract with State Police Agency
- EPS improved to $0.07 basic from $(0.14) in 2023
- Revenue decreased 8.2% year-over-year
- Negative Free Cash Flow of $(1.8M)
- Fully diluted EPS remains low at $0.01
Insights
Cycurion's transformation from $2.1M loss to $1.2M profit with 59% EBITDA growth signals successful operational restructuring and improved financial health.
Cycurion's 2024 financial results demonstrate a remarkable turnaround story that warrants investor attention. The company has achieved net profitability of $1.2 million compared to a $2.1 million loss in 2023, representing its first full year of positive earnings - a critical milestone for any growth-stage technology company.
The headline metrics reveal a company executing disciplined operational efficiency. Adjusted EBITDA jumped 58.9% to $2.3 million with margins expanding substantially from 7.4% to 12.9%, signaling improved operating leverage. Despite an 8.2% revenue decline to $17.8 million, the company's strategic pivot away from low-margin clients explains this temporary top-line sacrifice for quality growth.
Most impressive is the 47.5% reduction in SG&A expenses, which directly contributed to the profitability breakthrough. This cost-cutting didn't come at the expense of growth capabilities, as evidenced by the continued investment in their AI-driven platforms. The EPS improvement to $0.07 basic/$0.01 diluted from -$0.14 provides tangible shareholder value creation.
Free Cash Flow, while still negative at -$1.8 million, shows meaningful improvement from -$2.5 million, indicating the company is moving toward self-sustainability. The $22 million multi-year contract with a State Police Agency provides valuable revenue visibility and demonstrates government sector credibility.
The February 2025 Nasdaq listing opens access to institutional capital markets, potentially accelerating growth opportunities. With core operational metrics trending positively and strategic investments in AI-driven platforms, Cycurion appears well-positioned for profitable scaling in the high-growth cybersecurity market.
Cycurion's strategic pivot to AI-driven cybersecurity solutions and high-margin services strengthens competitive positioning in lucrative government markets.
Cycurion's strategic realignment represents a textbook example of how cybersecurity companies can effectively transition from hardware-dependent revenue to high-margin, recurring service models. The company's deliberate pivot away from one-time equipment sales (explaining the 8.2% revenue decrease) toward AI-driven platforms positions it for more sustainable growth trajectories.
The launch of the AI-driven SaaS ARx Cybersecurity Platform is particularly significant as it addresses the critical market shift toward automated threat detection and response capabilities. This move aligns perfectly with enterprise preferences for integrated security platforms that reduce operational complexity while improving threat detection efficacy.
The Cyber Shield Managed Security Services Platform suite - encompassing SOC as Service, External Attack Surface Management, Web Application Firewall, and Virtual CISO support - represents a comprehensive security stack offering that meets evolving compliance requirements while addressing the cybersecurity talent shortage facing organizations.
The $22 million multi-year contract with a State Police Agency demonstrates Cycurion's growing traction in the public sector - a notoriously difficult but lucrative market with longer sales cycles but higher client retention. Government clients typically provide stable, recurring revenue streams once procurement hurdles are cleared.
The company's investment in AI capabilities comes at a crucial time when threat actors are increasingly leveraging automated attack methodologies. By emphasizing this technological direction, Cycurion is positioning itself at the convergence of two high-growth sectors - cybersecurity and artificial intelligence - potentially creating significant competitive differentiation as these markets continue expanding.
Adjusted EBITDA of
MCLEAN, Va., April 17, 2025 (GLOBE NEWSWIRE) -- Cycurion (Nasdaq: CYCU) (“Cycurion” or the “Company”), a trusted leader in IT cybersecurity solutions and AI, reports financial results for full year ended December 31, 2024, and provides a corporate update highlighting a year of strategic execution, operational discipline, and solid financial performance.
Cycurion is poised for a strong 2025, driven by a strategic overhaul focused on sustainable growth and innovation. Over the past year, the company streamlined operations, significantly cutting General and Administrative (G&A) expenses while boosting gross profit for greater financial strength. Cycurion invested heavily in AI-driven technology, sharpening its competitive edge. By pivoting away from low-margin clients to high-value opportunities, the Company has built a robust framework for organic growth while paving the way for expansion, entering 2025 with clear momentum and vision.
Financial Highlights
- Revenues of
$17.8 million - SG&A expenses reduced by
47.5% , demonstrating operational efficiency and tighter strategic focus - Adjusted EBITDA of
$2.3 million , up58.9% year-over-year with an expanded margin of12.9% vs$1.4 million (7.4% margin) in FY2023, reflecting strong cost management and scalable operations - Net income of
$1.2 million , a significant turnaround from a net loss of$2.1 million in FY2023 — marking Cycurion’s first full year of net profitability - Earnings per share improvement to
$0.07 b asic and$0.01 fully diluted, versus$(0.14) in both categories in FY2023 - Free Cash Flow improvement to
$(1.8) million from$(2.5) million despite growth investments in personnel and platform development
2024 & YTD 2025 Strategic, Technological and Corporate Milestones
Cycurion significantly expanded its next-generation product and services portfolio, further solidifying its position as a trusted partner in advanced cybersecurity solutions:
- Listed & Began Trading on Nasdaq: Completed merger with Western Acquisition Ventures in February 2025
- U.S. Launch of AI-driven SaaS ARx Cybersecurity Platform: New high margin, AI-driven cybersecurity solution expands Company’s reach following strong initial reception in the government and public sectors in March 2025
- Launched Cyber Shield Managed Security Services Platform (MSSP) Launch: Includes SOC as Service, External Attack Surface Management, Web Application Firewall and Virtual CISO Support & Consulting
- Expanded Partnership with Journal Technologies: Secured
$22 million multi-year contract with State Police Agency - Strengthened Board of Directors Appointing Two Highly Accomplished IT Professionals: Kevin O’Brien and Reginald Bailey bring a combined 55 years of IT, Big Data and AI industry, entrepreneurial and C-suite experience to Cycurion
Management Commentary
Kevin Kelly, Cycurion CEO, stated, “We are pleased with Cycurion’s 2024 performance, especially with our ability to produce meaningful adjusted EBITDA growth coupled with positive net income of
About Cycurion
Based in McLean, Virginia, Cycurion (NASDAQ: CYCU) is a forward-thinking provider of IT cybersecurity solutions and AI, committed to delivering secure, reliable, and innovative services to clients worldwide. Specializing in cybersecurity, program management, and business continuity, Cycurion harnesses its AI-enhanced ARx platform and expert team to empower clients and safeguard their operations. Along with its subsidiaries, Axxum Technologies, Cloudburst Security, and Cycurion Innovation, Inc., Cycurion serves government, healthcare, and corporate clients with a commitment to securing the digital future.
Forward Looking Statements
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the operations and prospective growth of Cycurion’s business.
Many factors could cause Cycurion’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements described in this press release, including words such as “continue”, “expect”, “intend”, “will”, “hope”, “should”, “would”, “may”, “potential”, and other similar expressions. Such factors could include, among others, those detailed in its Registration Statement on Form S-4, as filed with the Securities and Exchange Commission (the “SEC”). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in that filing with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and Cycurion does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. Cycurion cannot assure that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
Investor Contact:
CORE IR
investors@cycurion.com
Media Contact:
Phone: (703) 555-0123
Email: media@cycurion.com
Non-GAAP Financial Measures
Statements in this release include financial information presented in accordance with accounting principles generally accepted in the United States ("GAAP") and also include non-GAAP financial measures that are provided as additional information to enhance the overall understanding of the Company's current financial performance and not as an alternative to the consolidated interim financial statements presented in accordance with GAAP. Management uses these non-GAAP measures (earnings before interest, taxes, depreciation, and amortization ("EBITDA"), Adjusted EBITDA, Adjusted EBITDA margin, Free Cash Flow) to evaluate the Company's financial performance. These terms might not be calculated in the same manner as, and thus might not be comparable to, similarly titled measures reported by other companies. The financial information tables that accompany this press release include reconciliations of net income to non-GAAP financial measures.
EBITDA, Adjusted EBITDA, and Adjusted EBITDA margin provide a measure of the Company's operating results in a manner that is focused on the performance of the Company's core business on an ongoing basis, by removing the effects of non-operating and certain non-cash expenses. These non-operating and non-cash items are specifically identified in the reconciliations of GAAP measures to Non-GAAP measures that accompany this release.
Free Cash Flow provides useful information to investors about the amount of cash generated by the business that can be used for strategic opportunities and is computed as Cash Flows from Operating Activities less both the Purchase of Property and Equipment & Purchase of Intangible Assets.
| CYCURION, INC. AND ITS SUBSIDIARIES CONSOLIDATED BALANCE SHEETS | ||||||||
| December 31, | December 31, | |||||||
| 2024 | 2023 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash | $ | 38,742 | $ | 607,869 | ||||
| Restricted cash | 2,048 | - | ||||||
| Accounts receivable, net | 10,353,708 | 7,093,371 | ||||||
| Other receivables | 434,391 | 455,979 | ||||||
| Due from sponsor | 106,421 | - | ||||||
| Note receivable - WAVS | - | 200,000 | ||||||
| Prepaid expenses and other current assets | 99,463 | 56,015 | ||||||
| Total current assets | $ | 11,034,773 | $ | 8,413,234 | ||||
| Non-current assets | ||||||||
| Deposit for acquisition target | 2,000,000 | 2,000,000 | ||||||
| Fixed assets, net | 4,175,169 | 3,779,310 | ||||||
| Intangible assets, net | 25,000 | - | ||||||
| Security deposits | 10,351 | 10,351 | ||||||
| Goodwill | 6,592,304 | 6,592,304 | ||||||
| Investments held in Trust Account | 1,834,540 | - | ||||||
| Total non-current assets | 14,637,364 | 12,381,965 | ||||||
| Total Assets | $ | 25,672,137 | $ | 20,795,199 | ||||
| Liabilities, Mezzanine and Stockholders’ Equity | ||||||||
| Current liabilities | ||||||||
| Bank loan-revolving credit line | 3,249,067 | 2,996,753 | ||||||
| Bank loan-current portion | 774,095 | 742,141 | ||||||
| Loans payable | 408,516 | 408,516 | ||||||
| Subordinated convertible promissory notes | 3,333,335 | 3,333,335 | ||||||
| Promissory notes | 2,624,111 | 1,561,111 | ||||||
| Loans payable - related parties | (325,600 | ) | 587,400 | |||||
| Accounts payable | 3,552,674 | 2,066,760 | ||||||
| Due to Trust Account | 106,421 | - | ||||||
| Accrued liabilities | 3,601,242 | 2,158,255 | ||||||
| Income Tax Payable | 12,500 | - | ||||||
| Franchise tax payable | 13,200 | - | ||||||
| Excise tax payable | 1,157,161 | - | ||||||
| Advance from Sponsor | 330,000 | - | ||||||
| Deferred revenue | 189,150 | 253,902 | ||||||
| Total current liabilities | 19,025,872 | 14,108,173 | ||||||
| Long-term loan payable | 146,798 | 146,798 | ||||||
| Series A convertible preferred stock ( | 1,294,117 | 1,294,117 | ||||||
| Total non-current liabilities | 1,440,915 | 1,440,915 | ||||||
| Total Liabilities | $ | 20,466,787 | $ | 15,549,088 | ||||
| Commitments and contingencies | ||||||||
| Mezzanine Equity | ||||||||
| Common stock subject to possible redemption, | 1,917,309 | - | ||||||
| Stockholders’ Equity | ||||||||
| Preferred stock ( | ||||||||
| Series B convertible preferred stock ( | - | - | ||||||
| Series C convertible preferred stock ( | - | - | ||||||
| Common stock ( | 1,059 | 1,028 | ||||||
| Additional paid in capital | 6,670,060 | 9,678,045 | ||||||
| Accumulated deficit | (3,383,078 | ) | (4,432,962 | ) | ||||
| Total Stockholders’ Equity | 3,288,041 | 5,246,111 | ||||||
| Total Liabilities and Stockholders’ Equity | $ | 25,672,137 | $ | 20,795,199 | ||||
| CYCURION, INC. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | ||||||||
| Years ended | ||||||||
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| Net revenues | $ | 17,582,335 | $ | 19,350,208 | ||||
| Cost of revenues | 14,136,742 | 16,707,148 | ||||||
| Gross profit | 3,445,593 | 2,643,060 | ||||||
| Operating expenses: | ||||||||
| Selling, general and administrative expenses | 1,215,763 | 2,316,649 | ||||||
| Operating income (loss) | 2,229,830 | 326,411 | ||||||
| Other income (expenses): | ||||||||
| Interest income | 20,211 | - | ||||||
| Interest expense | (1,202,936 | ) | (2,074,089 | ) | ||||
| Other income | 28,020 | - | ||||||
| Other expense | (25,241 | ) | (345,548 | ) | ||||
| Other income (expenses) | (1,179,946 | ) | (2,419,637 | ) | ||||
| Profit (loss) before income taxes | 1,049,884 | (2,093,226 | ) | |||||
| Provision before income taxes | - | 3,787 | ||||||
| Net income (loss) | $ | 1,049,884 | $ | (2,097,013 | ) | |||
| Comprehensive income (loss) | $ | 1,049,884 | $ | (2,097,013 | ) | |||
| Net income (loss) per common share | ||||||||
| Basic income (loss) per common share | $ | 0.07 | $ | (0.14 | ) | |||
| Diluted loss per common share | $ | 0.01 | $ | (0.14 | ) | |||
| Basic and diluted weighted average common shares outstanding | 14,968,215 | 14,782,442 | ||||||
| Diluted weighted average common shares outstanding | 89,495,790 | 14,782,442 | ||||||
| CYCURION, INC. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
| Years ended | ||||||||
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| Cash flows from operating activities | ||||||||
| Net income (loss) | $ | 1,049,884 | $ | (2,097,013 | ) | |||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||
| Stock based compensation | 10,000 | 327,499 | ||||||
| Amortization of debt discount | - | 1,094,131 | ||||||
| Depreciation of fixed assets | 27,142 | 25,822 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Change of right of use asset and lease liabilities | - | (7,810 | ) | |||||
| Accounts and other receivables | (3,238,749 | ) | (4,636,805 | ) | ||||
| Advance and prepayments to suppliers | (43,448 | ) | (40,917 | ) | ||||
| Accounts and other payables | 908,854 | 3,105,223 | ||||||
| Accrued interest | (20,211 | ) | - | |||||
| Deferred revenue | (64,752 | ) | 242,099 | |||||
| Net cash used in operating activities | (1,371,280 | ) | (1,987,771 | ) | ||||
| Cash flows from investing activities | ||||||||
| Acquisition of WAVS | 2,048 | - | ||||||
| Promissory note issued by WAVS | (439,114 | ) | (200,000 | ) | ||||
| Purchase of plant and equipment | (423,001 | ) | (506,707 | ) | ||||
| Purchase of Intangible asset | (25,000 | ) | - | |||||
| Net cash used in investing activities | (885,067 | ) | (706,707 | ) | ||||
| Cash flows from financing activities | ||||||||
| Proceeds from private placement | 1,000,000 | 2,000,000 | ||||||
| Net proceeds from line of credit | 252,314 | 5,346 | ||||||
| Proceeds from all bank borrowings | - | - | ||||||
| Repayment of all bank borrowings | 31,954 | (193,305 | ) | |||||
| Proceeds from loans payable | - | 339,500 | ||||||
| Repayments of loans payable | - | (29,379 | ) | |||||
| Proceeds from notes payable by WAVS | 255,000 | - | ||||||
| Proceeds from notes payable | 205,000 | 550,000 | ||||||
| Proceeds from notes payable - related parties | 15,000 | 534,000 | ||||||
| Repayments of notes payable - related parties | - | - | ||||||
| Net cash provided by financing activities | 1,759,268 | 3,206,162 | ||||||
| Net change in cash and restricted cash | (497,079 | ) | 511,684 | |||||
| Cash –beginning of period | 607,869 | 96,185 | ||||||
| Cash–end of period | $ | 110,790 | $ | 607,869 | ||||
| Restricted cash - end of period | $ | 2,048 | $ | - | ||||
| Cash - end of period | $ | 38,742 | $ | - | ||||
| Supplementary cash flow information: | ||||||||
| Interest paid | $ | - | $ | 501,337 | ||||
| Income taxes paid | $ | - | $ | - | ||||
| CYCURION, INC. AND ITS SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP MEASURES (Unaudited) | ||||||||
| Years ended | ||||||||
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| Net income (loss) | $ | 1,049,884 | $ | (2,097,013 | ) | |||
| Provision for income taxes | - | 3,787 | ||||||
| Interest expense | 1,202,936 | 2,074,089 | ||||||
| Interest income | (20,211 | ) | - | |||||
| Amortization of debt discount | - | 1,094,131 | ||||||
| Depreciation of fixed assets | 27,142 | 25,822 | ||||||
| EBITDA (non-GAAP measure) | $ | 2,259,751 | $ | 1,100,816 | ||||
| Stock compensation expense | 10,000 | 327,499 | ||||||
| Adjusted EBITDA (non-GAAP measure) | $ | 2,269,751 | $ | 1,428,315 | ||||
FAQ
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