$Intrusion (INTZ.US)$ NEWS Intrusion Inc. Reports First Quar...
NEWS
Intrusion Inc. Reports First Quarter 2024 Results
Positive
EPS improved to $(0.94) per share from $(4.49) per share year-over-year.
Gross profit margin increased to 80% from 76% year-over-year.
Operating expenses decreased to $3.4 million from $5.0 million.
Net loss reduced to $(1.7) million from $(4.7) million year-over-year.
Raised $2.6 million through a private offering.
Raised an additional $0.6 million via warrant inducement offering.
Regained compliance with Nasdaq's minimum bid price and equity standards.
Secured a $25 million contract with iOne Resources for the 2025 Philippines midterm elections.
Partnership with TIM to enhance supply chain security for Orca Cold Chain Solutions.
Acquired a minority stake in Klever AI to improve Intrusion Shield technology.
Negative
Revenue decreased to $1.1 million, a decline of $0.2 million year-over-year.
Consulting revenue decreased due to the delay in federal budget approval.
Cash and cash equivalents were only $0.1 million as of March 31, 2024.
Positive
EPS improved to $(0.94) per share from $(4.49) per share year-over-year.
Gross profit margin increased to 80% from 76% year-over-year.
Operating expenses decreased to $3.4 million from $5.0 million.
Net loss reduced to $(1.7) million from $(4.7) million year-over-year.
Raised $2.6 million through a private offering.
Raised an additional $0.6 million via warrant inducement offering.
Regained compliance with Nasdaq's minimum bid price and equity standards.
Secured a $25 million contract with iOne Resources for the 2025 Philippines midterm elections.
Partnership with TIM to enhance supply chain security for Orca Cold Chain Solutions.
Acquired a minority stake in Klever AI to improve Intrusion Shield technology.
Negative
Revenue decreased to $1.1 million, a decline of $0.2 million year-over-year.
Consulting revenue decreased due to the delay in federal budget approval.
Cash and cash equivalents were only $0.1 million as of March 31, 2024.
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