Core Insights - Intrusion Inc. reported a narrower loss of 35 cents per share in Q3 2024, compared to a loss of $2.78 per share a year ago, which was better than the Zacks Consensus Estimate of a loss of 42 cents [1] - The company's revenues for the quarter totaled $1.5 million, reflecting a year-over-year increase of 2.5% and a sequential increase of 3%, although it fell short of the Zacks Consensus Estimate of $2 million [2] - The company secured a $2 million contract from the U.S. Department of Defense, which is expected to bolster its financial performance in the upcoming quarters [3] Financial Performance - The gross profit margin for the quarter was 77%, slightly down from 78% in the prior-year quarter due to varying product mixes [4] - Total operating expenses decreased to $3.2 million from $3.8 million in the previous year, leading to an operating loss of $2 million, which is a 24% improvement year-over-year [5] - As of September 30, 2024, the company had total cash and cash equivalents of $1.1 million, down from $1.5 million as of June 30, 2024 [6] Market Reaction - Following the earnings release, Intrusion Inc.'s shares increased by 11.5%, closing at 82 cents on November 12, although the shares have declined by 92.2% over the past year [4]
Intrusion Q3 Loss Narrower Than Expected, Sales Rise Y/Y, Stock Up 12%