Intrusion FY2023 revenue falls to $5.6M; cash drops to $0.1M; debt exchange, reverse split announced

INTRUSION INC

Revenue for FY2023 was $5.6M, down $1.9M from 2022; Q4 revenue $1.4M, down 5% YoY.
Net loss for FY2023 was $13.9M ($0.57 per share) vs $16.2M ($0.82 per share) in 2022.
Cash and cash equivalents at Dec 31, 2023 were $0.1M, down from $3.0M at Dec 31, 2022.
Subsequent to year end, exchanged $9.275M in senior debt with Streeterville for new Series A Preferred Stock.
Announced 1-for-20 reverse stock split to regain Nasdaq minimum bid price and equity standard compliance.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INTRUSION INC reported the year ended December 31, 2023 results: revenue $5.6 million, net income $13.9 million, or $(0.57) per share, EPS $(0.57) per share.

Period: the year ended December 31, 2023
Revenue: $5.6 million
Net income: $13.9 million, or $(0.57) per share
EPS: $(0.57) per share
Result: reported results

Exact text from the filing

to a loss of $(5.2) million, or $(0.25) per share for the fourth quarter of 2022. Full Year 2023 Financial Results Revenue for the full year ended December 31, 2023, was $5.6 million, a decrease of $1.9 million compared to 2022. The gross profit margin was 78% for the full year ended December 31, 2023, compared to 55% in 2022. Operating expenses for the full

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INTRUSION INC reported the fourth quarter ended December 31, 2023 results: revenue $1.4 million, net income $(2.8) million, or $(0.09) per share, EPS $(0.09) per share.

Period: the fourth quarter ended December 31, 2023
Revenue: $1.4 million
Net income: $(2.8) million, or $(0.09) per share
EPS: $(0.09) per share
Result: reported results

Exact text from the filing

and equity standard requirements. · Continuing resolution negatively impacts consulting revenues. Fourth Quarter Financial Results Revenue for the fourth quarter of 2023 was $1.4 million, a decrease of 7% sequentially and 5% compared to the previous year. The decline in revenue during the fourth quarter of 2024 was driven by a decrease in consulting revenue that

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INTRUSION INC filing history →

Source: SEC EDGAR

accession 0001683168-24-001714

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