---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-003211"
form_type: "8-K"
ticker: "INTZ"
cik: "0000736012"
company_name: "INTRUSION INC"
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T05:14:43.424686+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Intrusion Q1 revenue $1.3M, net loss $(4.7)M; cash drops to $0.4M, cost cuts initiated

## Summary
- Q1 revenue $1.3M, down $0.1M sequentially and $0.5M YoY; gross margin improved to 76% from 51%.
- Net loss $(4.7)M ($(0.22)/share) vs $(4.1)M ($(0.21)/share) a year ago; operating expenses surged to $5.0M.
- Cash and equivalents $0.4M as of March 31, 2023, from $3.0M at Dec 31, 2022; $1.3M prepayment received after quarter end.
- Cost reductions include executive salary cuts (6 months), elimination of 16 positions, and contractor reductions, saving ~$1.5M/quarter.
- CEO notes elongated sales cycles and economic uncertainty; company may rely on equity offerings for 2023 financing.

## SEC filing metadata
- accession: 0001683168-23-003211
- form_type: 8-K
- ticker: INTZ
- cik: 0000736012
- company_name: INTRUSION INC
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/736012/000168316823003211/0001683168-23-003211-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/736012/000168316823003211/intrusion_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-003211
- JSON: https://secwatch.observer/filing/0001683168-23-003211.json
- Plain text: https://secwatch.observer/filing/0001683168-23-003211.txt

## Key facts
- Earnings Releases
  INTRUSION INC reported first quarter ended March 31, 2023 results: revenue $1.3 million, net income $(4.7) million, EPS $(0.22) per share.
  - Period: first quarter ended March 31, 2023
  - Revenue: $1.3 million
  - Net income: $(4.7) million
  - EPS: $(0.22) per share
  - Result: reported results
  source text: First Quarter Financial Results Revenue for the first quarter of 2023 was $1.3 million, a decrease of $0.1 million sequentially and $0.5 million compared with the first quarter of the prior year. The decline in total revenue for the quarter was largely due to the loss of a consulting contract in the fourth quarter of 2022 in which Intrusion’s prime sponsor chose not to renew the final option year of a contract that had been in place since 2018. The gross profit margin was 76% for the first quarter of 2023, compared to 51% in the first quarter of 2022. Operating expenses in the first quarter of 2023 were $5.0 million, an increase from $0.1 million in the comparable quarter of last year. The net loss for the first quarter of 2023 was $(4.7) million, or $(0.22) per share, compared to a loss of $(4.1) million, or $(0.21) per share for the first quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/736012/000168316823003211/0001683168-23-003211-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.