Cycurion, Inc. (NASDAQ: CYCU) was named an approved vendor on the Florida Department of Management Services’ (DMS) statewide management consulting services state‑term contract under RFP No. 25‑80101500‑RFP‑V2. The award gives Cycurion the right to provide strategic planning, program management, organizational assessments, process improvement, and policy analysis to all eligible state agencies across Florida.
The contract is a multi‑award, statewide term agreement that will run for five years, replacing a previous arrangement that supported roughly $90 million of Florida’s annual spend in FY 2023‑2024. While Cycurion’s share of that pool is not guaranteed, the award positions the company to bid on individual RFQs and capture a portion of the state’s procurement spend. The potential value for Cycurion depends on the number and size of RFQs it wins, but the multi‑award structure provides a platform for incremental revenue growth.
Cycurion’s recent financial performance has been challenging: revenue fell to $15.67 million in the last twelve months, and the company reported a 17.42% gross margin. The firm has also been working to regain compliance with Nasdaq’s minimum bid price requirements. The new contract could provide a much-needed source of recurring revenue and help stabilize cash flow, especially as Cycurion seeks to shift toward higher‑margin government contracts.
Strategically, the award aligns with Cycurion’s stated focus on expanding its presence in the public‑sector market. By gaining access to a broad portfolio of state agencies, Cycurion can leverage its cybersecurity, program‑management, and business‑continuity expertise to win additional work. However, the multi‑award nature of the contract means revenue will be contingent on Cycurion’s success in securing individual RFQs, so the company must continue to demonstrate its value proposition to state agencies.
Kevin Kelly, Cycurion’s CEO, said the award “reflects our trusted track record and our commitment to partnering with government customers.” He added that the contract “enhances our recurring revenue profile and supports our broader strategy of expanding government‑sector engagements.”
Cycurion has recently regained Nasdaq listing compliance, a milestone that underscores the company’s efforts to stabilize its financial position while pursuing new growth opportunities.
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