Revenue and Profit - Revenue for Q1 2023 was $1.3 million, down from $1.8 million in Q1 2022, primarily due to the loss of a government contract that accounted for 35.8% of revenues in Q1 2022[86] - Gross profit increased to $1.0 million or 76.1% of revenues in Q1 2023, compared to $0.9 million or 50.8% in Q1 2022, attributed to the loss of a low-margin government contract[88] - INTRUSION Shield revenues were $0.3 million in Q1 2023, up from $0.2 million in Q1 2022, indicating growth in the commercial product line[86] - Revenues from U.S. government entities accounted for 48.4% of total revenues in Q1 2023, down from 72.2% in Q1 2022, reflecting a shift towards commercial sales[87] Expenses - Operating expenses totaled $5.0 million in Q1 2023, a slight increase from $4.9 million in Q1 2022, with significant shifts in resource allocation towards sales and marketing[89] - Sales and marketing expenses rose to $1.7 million in Q1 2023 from $1.2 million in Q1 2022, reflecting a strategic shift to support indirect sales efforts[91] - Research and development expenses increased to $1.8 million in Q1 2023, with $0.3 million capitalized for internal use software development[92] - Interest expense surged to $0.7 million in Q1 2023 from $0.1 million in Q1 2022, primarily due to new promissory notes[94] Cash Flow and Liquidity - As of March 31, 2023, cash and cash equivalents were $0.4 million, down from $3.0 million at the end of 2022, with a working capital deficit of $12.6 million[97] - For the quarter ended March 31, 2023, net cash used in operating activities was $2.3 million, compared to $3.5 million for the same period in 2022[106][108] - Net cash used in investing activities for the three months ended March 31, 2023, was $0.3 million, primarily for the capitalization of internally developed software[109] - Net cash provided by financing activities for the quarter ended March 31, 2023, was $0.0 million, a significant decrease from $5.6 million in the same period of 2022[110] - The company received $21 thousand in net proceeds from sales of common stock under the at-the-market program for the quarter ended March 31, 2023[104] Debt and Obligations - As of March 31, 2023, the total outstanding amount payable to Streeterville, including principal, accrued interest, and fees, was $10.2 million[102] - Streeterville made three separate redemption requests totaling $1.5 million through December 2022, all satisfied in cash[102] - The company amended note agreements with Streeterville, waiving redemption rights through March 31, 2023, for a fee of 3.75% of the outstanding note balance[102] - The company is in discussions with Streeterville to amend existing note agreements, but no assurance of improved liquidity has been provided[103] Net Loss - The net loss for the quarter ended March 31, 2023, was $4.7 million, with adjustments for non-cash items of $1.2 million[107] Cost Reduction - Cost reduction measures implemented in late March 2023 are expected to save approximately $1.5 million per quarter going forward[90] Public Float - The public float as of May 11, 2023, was calculated at $23.4 million, which restricts the company's ability to conduct primary offerings under Form S-3[105]

Intrusion Inc. (NASDAQ:INTZ) Q1 2023 Earnings Conference Call May 11, 2023 5:00 PM ET Company Participants Josh Carroll - Alpha Investor Relations Tony Scott - Chief Executive Officer Kimberly Pinson - Chief Financial Officer Conference Call Participants Aaron Warwick - Breakout Investors Scott Buck - H.C. Wainwright Ross Taylor - ARS Investments Operator Welcome to Intrusion's First Quarter 2023 Earnings Conference Call and Webcast. At this time, all participant lines are in a listen-only mode. [Operator I ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER 001-39608 INTRUSION INC. (Exact name of registrant as specified in its charter) DELAWARE 75-1911917 (State or other jur ...

Intrusion Inc. (NASDAQ:INTZ) Q4 2022 Earnings Call Transcript March 6, 2023 5:00 PM ET Company Participants Sam Cohen - Alpha Investor Relations Tony Scott - Chief Executive Officer Kimberly Pinson - Chief Financial Officer Conference Call Participants Scott Buck - H.C. Wainwright Zach Cummins - B. Riley Securities Ed Woo - Ascendiant Capital Aaron Warwick - Breakout Investors Operator Welcome to Intrusion Inc.’s Fourth Quarter and Full Year 2022 Earnings Conference Call and Webcast. At this time, all parti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Table of Contents ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39608 INTRUSION INC. (Exact name of registrant as specified in its charter) Delaware 75-1911917 (State or other juris ...

Intrusion, Inc. (NASDAQ:INTZ) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET Company Participants Sam Cohen - Alpha Investor Relations Anthony Scott - President, CEO & Director Kimberly Pinson - CFO Conference Call Participants Zachary Cummins - B. Riley Securities Scott Buck - H.C. Wainwright & Co. Ed Woo - Ascendiant Capital Porter Taylor - ARS Investment Partners Aaron Warwick - ES Capital Operator We would like to welcome you to Intrusion Incorporated Third Quarter 2022 Earnings Conferenc ...

Intrusion Inc. (NASDAQ:INTZ) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Sam Cohen – Alpha Investor Relations Tony Scott – Chief Executive Officer Kimberly Pinson – Chief Financial Officer Conference Call Participants Ed Woo – Ascendiant Zach Cummins – B. Riley Scott Buck – H.C. Wainwright Ross Taylor – ARS Investments Operator Please standby we're about to begin. Good afternoon, ladies and gentlemen, and welcome to the Intrusion Q2 2022 Financial Results Conference Call. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39608 INTRUSION INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-20191 INTRUSION INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation o ...

Intrusion Inc. (NASDAQ:INTZ) Q1 2022 Earnings Conference Call May 12, 2022 5:00 PM ET Company Participants Sam Cohen - Investor Relations Tony Scott - Chief Executive Officer Franklin Byrd - Chief Financial Officer Conference Call Participants Zach Cummins - B. Riley Securities Ed Woo - Ascendiant Capital Operator Please standby, we’re about to begin. Welcome to the Intrusion Inc. First Quarter 2022 Earnings Conference Call and Webcast. At this time, all participant lines are in a listen-only mode. For thos ...