Intrusion Q2 revenue up 29% sequentially to $1.5M; net loss narrows to $(2.1)M

INTRUSION INC

2024-Q2 EPS reported -$1.31 revenue$2,591,000

Revenue of $1.5M for Q2 2024, up 29% sequentially, driven by a large government contract for Shield and consulting.
Net loss of $(2.1)M ($(0.53) per share) vs $(3.1)M ($(2.92) per share) in Q2 2023; operating loss improved 18% QoQ.
Gross profit margin 76% (down from 78% YoY); operating expenses $3.1M, down $0.9M YoY.
Cash and equivalents $1.5M as of June 30; raised $2.6M net via private offering and $0.6M via warrant inducement.
Appointed Dion Hinchcliffe to Board; new government contract awarded for Intrusion Shield.

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