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Intrusion Inc., based in Plano, Texas, is a prominent cybersecurity company known for its innovative threat detection and prevention technologies. The company focuses on developing, marketing, and supporting a suite of products aimed at identifying and mitigating cyber threats. Intrusion's core offerings include TraceCop for identity discovery, Savant for network data mining, and Compliance Commander for data privacy protection.
Intrusion serves a diverse clientele, from financial institutions and government entities to healthcare providers. In 2021, the company launched its first commercial product, Intrusion Shield, which offers a Zero Trust, reputation-based security solution that integrates seamlessly into existing infrastructures. This product is designed to observe traffic flow and block malicious connections, thereby safeguarding against Zero-Day and ransomware attacks.
Recent achievements include a 1-for-20 reverse stock split and an exchange agreement with Streeterville Capital to manage senior debt, both aimed at maintaining compliance with Nasdaq listing requirements. Furthermore, Intrusion's financial results for Q4 2023 and full year indicate a strategic focus on reducing operational costs and increasing gross profit margins, despite a decrease in revenue primarily due to federal budget issues.
Intrusion's latest collaborations include a strategic investment in Houston-based AI company Klever AI, enhancing Intrusion Shield's capabilities and market reach. Additionally, the company secured a significant contract with the Philippines' Commission on Elections to provide cybersecurity services for the 2025 midterm elections, demonstrating its expanding global footprint and expertise in protecting critical infrastructure.
Intrusion continues to strengthen its financial position through private offerings, raising substantial funds to support working capital and corporate needs. The company's proactive approach to financial management aims to propel growth and sustain its leadership in the cybersecurity market.
Intrusion Inc. (NASDAQ: INTZ) reported its fourth quarter and full year results for 2021, with revenues of $1.6 million in Q4, unchanged year-over-year, and annual revenue of $7.3 million, reflecting a 10% increase. The gross profit margin improved to 65% in Q4 compared to 58% in Q4 2020, primarily due to INTRUSION Shield sales. However, the company faced a net loss of $3.9 million in Q4 and $18.8 million for the year. Intrusion implemented an executive-led sales strategy to boost growth and has engaged in 18 proof of concept demos for its Shield product, which is expanding to cloud and endpoint solutions.
INTRUSION Inc. (NASDAQ: INTZ) will announce its Q4 and full year 2021 financial results on March 17, 2022, post-market. CEO Tony Scott and CFO Franklin Byrd will host a conference call at 5:00 p.m. EDT to discuss these results. The call will be accessible via a live webcast and teleconference for analysts and investors. INTRUSION offers advanced cybersecurity solutions, highlighted by its product Intrusion Shield, designed to bolster security by blocking malicious connections. The company has a robust threat intelligence database with data on over 8.5 billion IP addresses.
INTRUSION Inc. (NASDAQ: INTZ) announced a financing transaction on March 10, 2022. The company sold a 7.0% unsecured note totaling $5.35 million to Streeterville Capital for $5 million after expenses. The net proceeds of approximately $4.7 million will be used for general corporate purposes. The maturity date is 18 months after issuance, with a monthly redemption option. The CEO emphasized that this deal enhances financial flexibility to meet the growing demand for cybersecurity solutions.
On February 2, 2022, INTRUSION Inc. (NASDAQ: INTZ) announced the appointment of Tony Scott as a member of its Board of Directors, effective January 21, 2022. Scott, who is also the President and CEO, brings extensive cybersecurity and leadership experience to the role. Chairman Tony LeVecchio praised Scott's strategic vision and expertise, which are expected to enhance the company's growth and position in the cybersecurity sector. Scott expressed enthusiasm for guiding INTRUSION towards future opportunities that benefit shareholders and foster innovation.
INTRUSION Inc. (NASDAQ: INTZ) hosted a strategic update conference call on January 25, 2022, led by CEO Tony Scott. The company aims to enhance its Shield product suite with cloud and endpoint solutions by late 2022, while also repositioning sales and marketing efforts. Key strategies include focusing on strategic partnerships, increasing capital for market opportunities, and expanding its government business. Scott emphasized the organization's commitment to combating rising cybersecurity threats and ensuring performance improvements to enhance shareholder value.
INTRUSION Inc. (NASDAQ: INTZ) announced a conference call featuring its new CEO, Tony Scott, set for January 25, 2022, at 5 P.M. ET. The call aims to outline the company’s strategic vision and growth objectives. Interested investors can join via webcast or by dialing 1-888-330-2041 with the ID 6774917. INTRUSION specializes in cyberattack prevention solutions, utilizing advanced threat intelligence and AI through its flagship product, INTRUSION SHIELD. For further details, visit www.intrusion.com.
PLANO, Texas, Nov. 29, 2021 (GLOBE NEWSWIRE) -- INTRUSION (Nasdaq: INTZ) announced participation in The Benchmark Company’s Discovery One on One Virtual Investor Conference on December 2, 2021. Executive management, including Joe Head (CTO), Franklin Byrd (CFO), and Gary Davis (CMO), will meet with investors via video calls. INTRUSION specializes in advanced cyberattack prevention solutions, utilizing real-time AI to protect various-sized businesses against threats, including zero-days. For further details about their services, visit www.intrusion.com.
INTRUSION (Nasdaq: INTZ) has appointed Tony Scott as its new President and CEO, effective November 15, 2021. Scott brings extensive experience, having previously served as the Federal CIO for the U.S. government and held key positions at Fortune 100 companies, such as VMware, Microsoft, and The Walt Disney Company. His leadership is expected to enhance INTRUSION's cybersecurity solutions and expand its government business. Scott's deep knowledge and connections are anticipated to provide significant benefits during this critical phase of INTRUSION's evolution.
INTRUSION, Inc. (NASDAQ: INTZ) reported a 14% year-over-year revenue increase for Q3 2021, totaling $1.8 million. Shield revenue rose to 13% of total revenue, up from 7% in the previous quarter. Despite growth, the net loss widened to $6.1 million or ($0.34) per share, compared to a loss of $5.0 million in Q2 2021. Operating expenses increased to $7.2 million. Cash reserves stood at $7.2 million as of September 30, 2021. The company added five new Shield customers and received validation for Shield's effectiveness against cyberattacks.
INTRUSION (Nasdaq: INTZ) has unveiled key initiatives to bolster its cybersecurity offerings and market presence. The company launched version 17.3 of its Shield product, enhancing its capabilities against Zero-Day and malware-free attacks. Additionally, INTRUSION formed a new Advisory Board with industry veterans and onboarded new channel partners, including Liquid PC and Forequest Technologies. These strategic steps aim to support organizations in developing their Zero Trust Architecture more effectively, while also addressing the growing demand for cybersecurity solutions amid rising cyber threats.
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