Intrusion Inc New - INTZ STOCK NEWS

INTRUSION Inc. (NASDAQ: INTZ) announces that Michael L. Paxton is resigning from its board of directors effective December 31, 2020. Paxton has been a board member since 2019 and recently retired as the chief financial officer, a role he held for eighteen years. Jack B. Blount, President and CEO, expressed gratitude for Paxton's service and contributions to the company’s growth. INTRUSION specializes in cybersecurity solutions including entity identification, data mining, and threat detection, providing robust defenses for sensitive information.

INTRUSION Inc. (NASDAQ: INTZ) announced the appointment of two new vice presidents to enhance growth and sales channels: Vittal Krishnamurthy as Vice President of Product, and Martin Koren as Vice President of Business Development for Channel Sales. With the anticipated launch of Shield™ in early 2021, the company aims to expand its cybersecurity offerings. Krishnamurthy brings over 20 years of industry expertise, while Koren focuses on strengthening channel partnerships. The leadership changes are expected to bolster INTRUSION’s market position against increasing cyber threats.

INTRUSION Inc. (NASDAQ: INTZ) appointed Franklin Byrd as Chief Financial Officer, effective immediately. Byrd, a Certified Public Accountant, brings over 25 years of finance and accounting expertise, including experience in taking three organizations public. He replaces Michael L. Paxton, who will retire but remain on the board. Jack B. Blount, CEO, emphasized Byrd's strategic vision and leadership, essential for the company's growth in delivering next-generation cybersecurity solutions, notably the Shield family of products.

INTRUSION (NASDAQ: INTZ) highlights a report by Cybersecurity Ventures predicting that global cybercrime costs will surge to $10.5 trillion annually by 2025, a 15% increase per year since 2015. This alarming trend marks the largest transfer of economic wealth in history and poses significant risks to innovation and investment. The report emphasizes that all U.S. organizations are targets of cyber threats, with detection rates as low as 0.05%. INTRUSION continues to innovate in cybersecurity solutions to combat this escalating threat.

INTRUSION Inc. (NASDAQ: INTZ) announced the addition of new senior leaders to support the launch of its Shield cybersecurity solutions. Andrew Wildrix joins as VP of IT, bringing over 30 years of experience, while Brandy Schade becomes VP of People and Culture, focusing on talent acquisition. Joe Head has been appointed SVP of Direct Sales, overseeing a team to boost large enterprise sales. These strategic hires aim to enhance INTRUSION's technology infrastructure and sales capabilities in anticipation of significant growth.

INTRUSION, Inc. (NASDAQ: INTZ) reported its third quarter 2020 financial results, highlighting a net loss of $1.4 million compared to a net income of $1.5 million in Q3 2019. Revenue decreased to $1.6 million, down from $3.9 million in the same period last year. The company successfully raised $18.1 million from a follow-on offering, bolstering its balance sheet. Positive beta-testing feedback for its new cybersecurity solution, INTRUSION Shield™, has led to pre-orders. INTRUSION aims to capitalize on the growing demand for advanced cybersecurity solutions amidst an escalating threat landscape.

INTRUSION Inc. (NASDAQ: INTZ) announced that Jack Blount, President and CEO, will participate in the virtual Benchmark Discovery 1x1 Conference on November 18, 2020. The company specializes in entity identification, high-speed data mining, and cybercrime detection. INTRUSION offers solutions like TraceCop™ for identity discovery and Savant™ for advanced threat detection, aimed at protecting critical information assets for government and enterprise networks. Interested portfolio managers can arrange calls with management via Benchmark representatives or INTRUSION's investor relations.

INTRUSION Inc. (NASDAQ: INTZ) is set to announce its third quarter 2020 financial results on November 12, 2020, after market close. The company's leaders, President Jack Blount and Chairman Anthony LeVecchio, will host a conference call at 4:00 p.m. Central Time to discuss these results. Interested parties can join the call via dial-in or listen online. The company specializes in entity identification, high-speed data mining, and cybercrime detection solutions, helping to secure critical information for government and enterprise networks.

INTRUSION Inc. (NASDAQ: INTZ) has promoted Mike McClure to vice president of consulting, a new position aimed at expanding the company's consulting services for government and commercial clients. McClure, who has over a decade of consulting experience, will help grow INTRUSION’s consulting segment. The company has been providing cybersecurity solutions, including its newly launched INTRUSION Shield™, which actively neutralizes cyber threats. This move aligns with INTRUSION's strategy to enhance its cybersecurity offerings and strengthen its market position.