By definition action research is cyclical and iterative (Ivankova, 2015; Mertler, 2014), therefore it should be multiple cycles. What you may want to consider is if you are in fact only running one cycle. For example, are you conducting recon and interviews to inform your action (recon, and cycle 0) and then taking action in a cycle 1 phase.
Ivankova, N. V. (2015). Mixed methods applications in action research: From methods to community action. Thousand Oaks, CA: SAGE Publications, Ltd.
Mertler, C. A. (2014). Action research: Improving schools and empowering educators (4th ed.). Thousand Oaks, CA: SAGE Publications, Ltd.
A single cycle of the improved Action Research method that was published last year has already been used successfully in both Bachelor and Master classes.
Reference: Davison, R.M. et al. (2021) "Improving Action Research by Integrating Methods," Journal of the Association for Information Systems, 22(3).