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Side-by-side financial comparison of Cycurion, Inc. (CYCU) and TON Strategy Co (TONX). Click either name above to swap in a different company.
TON Strategy Co is the larger business by last-quarter revenue ($5.7M vs $3.5M, roughly 1.6× Cycurion, Inc.). Cycurion, Inc. runs the higher net margin — -141.2% vs -3968.6%, a 3827.3% gap on every dollar of revenue. On growth, TON Strategy Co posted the faster year-over-year revenue change (694.2% vs -13.1%). Cycurion, Inc. produced more free cash flow last quarter ($-3.5M vs $-8.0M). Over the past eight quarters, TON Strategy Co's revenue compounded faster (46.1% CAGR vs -8.6%).
CYCU vs TONX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.5M | $5.7M |
| Net Profit | $-5.0M | $-227.9M |
| Gross Margin | 12.1% | 64.3% |
| Operating Margin | -141.7% | -159.2% |
| Net Margin | -141.2% | -3968.6% |
| Revenue YoY | -13.1% | 694.2% |
| Net Profit YoY | -546.8% | -7047.9% |
| EPS (diluted) | $-11.09 | $-3.89 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.5M | $5.7M | ||
| Q3 25 | $3.8M | $3.6M | ||
| Q2 25 | $3.9M | $2.1M | ||
| Q1 25 | $3.9M | $1.3M | ||
| Q4 24 | $4.1M | $723.0K | ||
| Q3 24 | $4.5M | — | ||
| Q2 24 | $5.0M | — | ||
| Q1 24 | $4.2M | — |
| Q4 25 | $-5.0M | $-227.9M | ||
| Q3 25 | $-3.1M | $84.3M | ||
| Q2 25 | $-5.3M | $-2.4M | ||
| Q1 25 | $-10.2M | $-2.6M | ||
| Q4 24 | $1.1M | $-3.2M | ||
| Q3 24 | $116.1K | — | ||
| Q2 24 | $306.1K | — | ||
| Q1 24 | $-312.5K | — |
| Q4 25 | 12.1% | 64.3% | ||
| Q3 25 | 7.1% | 75.4% | ||
| Q2 25 | 6.1% | 71.2% | ||
| Q1 25 | 17.5% | 73.4% | ||
| Q4 24 | 37.9% | 81.5% | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | 20.5% | — | ||
| Q1 24 | 8.2% | — |
| Q4 25 | -141.7% | -159.2% | ||
| Q3 25 | -118.2% | -601.5% | ||
| Q2 25 | -96.9% | -138.2% | ||
| Q1 25 | -260.9% | -203.8% | ||
| Q4 24 | 31.9% | -513.1% | ||
| Q3 24 | 9.4% | — | ||
| Q2 24 | 14.6% | — | ||
| Q1 24 | -0.8% | — |
| Q4 25 | -141.2% | -3968.6% | ||
| Q3 25 | -81.5% | 2336.8% | ||
| Q2 25 | -136.1% | -111.9% | ||
| Q1 25 | -264.8% | -196.5% | ||
| Q4 24 | 27.5% | -440.9% | ||
| Q3 24 | 2.6% | — | ||
| Q2 24 | 6.1% | — | ||
| Q1 24 | -7.4% | — |
| Q4 25 | $-11.09 | $-3.89 | ||
| Q3 25 | $-1.59 | $2.23 | ||
| Q2 25 | $-0.15 | $-1.79 | ||
| Q1 25 | $-0.56 | $-2.51 | ||
| Q4 24 | $1.56 | $10.41 | ||
| Q3 24 | $0.11 | — | ||
| Q2 24 | $0.01 | — | ||
| Q1 24 | $-0.02 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $5.3M | $39.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $20.1M | $406.5M |
| Total Assets | $33.5M | $411.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.3M | $39.5M | ||
| Q3 25 | $3.7M | $53.9M | ||
| Q2 25 | $1.0M | $10.4M | ||
| Q1 25 | — | $12.2M | ||
| Q4 24 | $38.7K | $12.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $20.1M | $406.5M | ||
| Q3 25 | $19.1M | $639.1M | ||
| Q2 25 | $14.0M | $19.4M | ||
| Q1 25 | $12.9M | $14.6M | ||
| Q4 24 | $3.5M | $16.2M | ||
| Q3 24 | $-3.7M | — | ||
| Q2 24 | $-3.4M | — | ||
| Q1 24 | $-2.8M | — |
| Q4 25 | $33.5M | $411.2M | ||
| Q3 25 | $32.3M | $661.9M | ||
| Q2 25 | $30.7M | $23.7M | ||
| Q1 25 | $31.5M | $18.4M | ||
| Q4 24 | $25.6M | $20.6M | ||
| Q3 24 | $2.9M | — | ||
| Q2 24 | $2.7M | — | ||
| Q1 24 | $3.1M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.3M | $-8.0M |
| Free Cash FlowOCF − Capex | $-3.5M | $-8.0M |
| FCF MarginFCF / Revenue | -98.8% | -139.3% |
| Capex IntensityCapex / Revenue | 5.3% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-12.5M | $-20.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.3M | $-8.0M | ||
| Q3 25 | $-2.5M | $-9.4M | ||
| Q2 25 | $-3.6M | $-2.3M | ||
| Q1 25 | $-2.7M | $-1.1M | ||
| Q4 24 | $-205.7K | $-1.9M | ||
| Q3 24 | $-315.2K | — | ||
| Q2 24 | $-578.0K | — | ||
| Q1 24 | $-272.4K | — |
| Q4 25 | $-3.5M | $-8.0M | ||
| Q3 25 | $-2.6M | $-9.4M | ||
| Q2 25 | $-3.7M | $-2.3M | ||
| Q1 25 | $-2.8M | $-1.1M | ||
| Q4 24 | $-310.7K | $-2.0M | ||
| Q3 24 | $-420.2K | — | ||
| Q2 24 | $-711.0K | — | ||
| Q1 24 | $-377.4K | — |
| Q4 25 | -98.8% | -139.3% | ||
| Q3 25 | -66.9% | -261.4% | ||
| Q2 25 | -94.2% | -107.8% | ||
| Q1 25 | -72.7% | -87.0% | ||
| Q4 24 | -7.6% | -279.9% | ||
| Q3 24 | -9.4% | — | ||
| Q2 24 | -14.2% | — | ||
| Q1 24 | -8.9% | — |
| Q4 25 | 5.3% | 0.1% | ||
| Q3 25 | 2.5% | 0.4% | ||
| Q2 25 | 2.7% | 0.1% | ||
| Q1 25 | 1.8% | 5.1% | ||
| Q4 24 | 2.6% | 22.1% | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 2.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.11× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.18× | — | ||
| Q3 24 | -2.71× | — | ||
| Q2 24 | -1.89× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CYCU
Segment breakdown not available.
TONX
| Market Live | $4.8M | 83% |
| Other | $960.0K | 17% |
