Intrusion Inc New - INTZ STOCK NEWS

Intrusion Inc. (NASDAQ:INTZ), a cyberattack prevention solutions leader, has announced it will release its second quarter 2024 financial results on Tuesday, August 13, 2024, after market close. The company will host a conference call at 5:00 p.m. EDT to discuss the results, led by CEO Tony Scott and CFO Kimberly Pinson. The call will be broadcast live on the investor relations website in listen-only mode. Analysts and investors can join via teleconference using the provided dial-in information. A telephone replay will be available until August 27, 2024, accessible through specific replay numbers and passcode.

Intrusion Inc. (NASDAQ:INTZ), a key player in cyberattack prevention, announced the appointment of Dion Hinchcliffe to its Board of Directors, effective July 1, 2024. Hinchcliffe brings a wealth of experience in IT, business strategy, and AI, with a background in consulting Fortune 1000 companies and the federal government. Currently, he holds a VP position at The Futurum Group and is an executive fellow at Dartmouth College. His previous roles include VP at Constellation Research and lead enterprise architect at T. Rowe Price and the Missile Defense Agency. Intrusion aims to leverage Hinchcliffe's expertise to enhance their market strategy and cybersecurity offerings.

Intrusion Inc. (NASDAQ:INTZ) announced its first quarter 2024 financial results, highlighting several key developments.

EPS improved to $(0.94) per share from $(4.49) per share year-over-year. Revenue decreased by $0.2 million to $1.1 million due to reduced consulting revenue.

Gross profit margin rose to 80%, while operating expenses dropped to $3.4 million from $5.0 million. Net loss reduced to $(1.7) million, compared to $(4.7) million year-over-year. Cash and equivalents were $0.1 million as of March 31, 2024.

Subsequent to the quarter, Intrusion raised $2.6 million through a private offering and $0.6 million from a warrant inducement offering. The company regained Nasdaq compliance and achieved significant business milestones, including a $25 million contract with iOne Resources for the 2025 Philippines midterm elections and a partnership with TIM to enhance supply chain security for Orca Cold Chain Solutions. Intrusion also acquired a minority stake in Klever AI to improve its technology.

Intrusion Inc. (INTZ) will announce its first quarter 2024 financial results on May 14, 2024. The CEO and CFO will host a conference call to discuss the results. Analysts and investors can join via teleconference or webcast.

Intrusion Inc. announced a private placement subscription agreement, selling 1,348,569 shares of common stock with warrants at an aggregate price of $1.95 per share, resulting in net proceeds of $2.6 million. The company aims to use the funds for working capital and general corporate purposes. CEO Tony Scott highlighted the offering's significance in achieving Nasdaq compliance and supporting growth in cybersecurity solutions.

Intrusion Inc. announces acquisition of minority stake in Klever AI, a cutting-edge technology company specializing in AI and ML solutions. The strategic investment aims to enhance Intrusion Shield technology and expand customer reach across various industries.

Intrusion Inc. (INTZ) partners with iOne Resources to secure the Commission on Elections project in the Philippines, winning a P1.4 billion bid for the 2025 midterm elections. The partnership aims to enhance cybersecurity with a portfolio of networking and security vendors, including Intrusion, Fortinet, Teltonika, Cisco, Akamai, Starlink, and Dell. The project is expected to be fully operational by November 2024, contributing to earnings in the second half of the year.

Intrusion Inc. (NASDAQ:INTZ) reported financial results for Q4 and full year 2023, showing improved EPS, revenue declines, and progress towards Nasdaq compliance. The company's revenue for Q4 was $1.4 million, with a 7% sequential decrease and a 5% decline year-over-year. The gross profit margin improved to 79%, while operating expenses decreased to $3.5 million. The net loss for Q4 was $(2.8) million. For the full year 2023, revenue was $5.6 million, with a gross profit margin of 78% and operating expenses of $16.4 million. The net loss for the full year was $13.9 million. Cash and cash equivalents were $0.1 million as of December 31, 2023, down from $3.0 million in 2022. Intrusion also entered into an exchange agreement to reduce debt and announced a 1-for-20 reverse stock split to regain Nasdaq compliance.

Intrusion, Inc. (INTZ) will announce its Q4 and full-year 2023 financial results on March 26, 2024. The CEO and CFO will host a conference call to discuss the results. Analysts and investors can join the call via teleconference or webcast. A replay will be available until April 9, 2024.