Shares of the IT company Cycurion soared 500%. It has secured the largest contract in its history.

Shares of Cycurion, a cybersecurity solutions provider with a market capitalization of just $18.5 million, soared nearly 500% on the Nasdaq on July 30. The company announced that it had signed the largest contract in its history with one of the world’s top five consulting firms.

Cycurion shares rose 496% on July 30, reaching $1.60; in premarket trading on July 31, the stock is up another 50%.

Investors reacted to the company’s announcement of a new contract with an unnamed consulting firm ranked among the top five in its industry. The agreement is for ten years and is worth $54.6 million. Cycurion calls it the largest in its history. As of the end of 2025, the company’s order backlog stood at $112 million, with an average contract duration of four years.

The IT developer estimates annual revenue from the new agreement at more than $5 million. By comparison, its revenue for 2025 fell by more than 15%, to $15.1 million.

According to the contract, Cycurion will modernize and ensure the secure operation of a “large-scale healthcare and social services system for a state government agency”; work is scheduled to begin in 2026, according to the press release.

Cycurion was founded in 2017, and in February 2025, it went public on the Nasdaq following a merger with a SPAC. Since then, its stock price has plummeted by 99.5%, even after the rally on July 30.

"The IT developer has had a difficult year," he wrote when announcing the results for 2025. The challenges were due, in part, to reduced spending on government contracts and delays in project launches caused by the federal government shutdown last fall.

The developer's CEO, Kevin Kelly, wrote that Cycurion had also faced external challenges, including "smear" campaigns, market manipulation, and the publication of unauthorized press releases purportedly on behalf of the company. In another post, the developer cited what it described as “dozens of false, malicious, and defamatory statements, accusations that Cycurion engaged in fraud, participated in ‘death spiral financing’ (where one financial failure leads to another), and “pump-and-dump” schemes” on the social media platforms Stocktwits and Reddit.

Cycurion has filed lawsuits against the authors of these posts and has also sought compensation from ACCESS Newswire, a press release distribution platform, and the individuals involved.

Only one Wall Street analyst has rated the company's stock; he recommends buying it, with a target price of $7. This represents growth potential of nearly 4.4 times the most recent closing price.