Core Viewpoint - Intrusion Inc. reported a narrower loss in Q4 2024 compared to the previous year, but the results fell short of market expectations, leading to a significant decline in share price [1][4]. Financial Performance - The company incurred a loss of 36 cents per share in Q4 2024, an improvement from a loss of $1.80 per share a year ago, but wider than the Zacks Consensus Estimate of a loss of 23 cents [1]. - Quarterly revenues reached $1.7 million, reflecting a year-over-year increase of 22.7% and an 11% sequential growth, although it was below the consensus estimate of $2 million [2]. - The gross profit margin was reported at 75%, down from 79% in the prior-year quarter, attributed to varying product mixes [5]. - Total operating expenses were $3.2 million, a decrease of 8.8% from the previous year, leading to an operating loss of $1.9 million, which narrowed by 20% year over year [5]. Product Development and Market Demand - The company expanded its product offerings with the introduction of Intrusion Shield Sentinel and Intrusion Shield Command Hub, aimed at enhancing cybersecurity solutions [3]. - Intrusion Inc. secured 20 new customer contracts in 2024, indicating a growing demand for its cybersecurity products [3]. Market Reaction - Following the earnings report, Intrusion Inc.'s shares fell by 9.2%, closing at $1.08 on February 27, and the stock has decreased by 71.1% over the past year, contrasting with a 46.8% growth in the Zacks Computer-Networking industry [4]. Balance Sheet - As of December 31, 2024, the company had total cash and cash equivalents of $4.9 million, a significant increase from $1.1 million as of September 30, 2024 [6].
INTZ Q4 Loss Wider Than Expected, Sales Up Y/Y on Cybersecurity Demand