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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 12, 2025
INTRUSION INC.
(Exact Name of Registrant as Specified in Its Charter)
| Delaware | 001-39608 | 75-1911917 |
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 101
East Park Blvd, Suite
1200 Plano, Texas |
75074 |
| (Address of Principal Executive Offices) | (Zip Code) |
(888) 637-7770
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.01 par value per share | INTZ | NASDAQ Capital Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 2.02. Results of Operations and Financial Condition.
The following information is furnished pursuant to Item 2.02, Disclosure of Results of Operations and Financial Condition.
On August 12, 2025, Intrusion Inc. issued a press release announcing its financial results for the quarter ending June 30, 2025. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
|
Exhibit No. |
Description | |
| 99.1 | Press Release Issued by Intrusion Inc. on August 12, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| Intrusion, Inc. | ||
| Dated: August 12, 2025 | By: | /s/ Kimberly Pinson |
| Kimberly Pinson | ||
| Chief Financial Officer | ||
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Exhibit 99.1
Intrusion Inc. Reports Second Quarter 2025 Results
Recent Intrusion Shield expansion highlights progress toward sustainable growth and profitability
PLANO, Texas, August 12, 2025 (ACCESSWIRE) -- Intrusion Inc. (NASDAQ: INTZ) (“Intrusion” or the “Company”), a leader in cyberattack prevention solutions, announced today financial results for the second quarter ended June 30, 2025.
Recent Financial & Business Highlights:
| · | Received an additional $3.0 million for continued Department of Defense contract support, with funding driving operational deployment of critical infrastructure monitoring tools and deepens research-driven threat analysis capabilities. | |
| · | Achieved fifth sequential quarter of revenue improvement. |
“The second quarter marked another positive step forward for Intrusion as we continued to deliver consistent sequential revenue growth and make meaningful progress toward our objective of achieving sustainable growth and long-term profitability,” said Tony Scott, CEO of Intrusion. “Revenue growth during the quarter was largely driven by the continued improvement in the scope of our suite of Shield products, particularly within critical infrastructure, which we continue to view as a highly promising market for Intrusion, given the escalating risks from ransomware, supply chain disruptions, and other threats targeting vital infrastructure assets. Our momentum in this area was recently highlighted by the extension and expansion of our contract with the Department of Defense, which is already generating incremental revenue. As we look ahead, our priorities remain focused on enhancing our product offerings, accelerating customer acquisition, and strengthening our sales pipeline to ensure Intrusion is well-positioned to capture long-term growth.”
Second Quarter Financial Results
Revenue for the second quarter of 2025 was approximately $1.9 million, representing an increase of 28% on a year-over-year basis. The sequential increase in revenue for the second quarter of 2025 was driven by new customers signed in recent quarters, including the U.S. Department of Defense award for the use of both Intrusion Shield technology and consulting services.
The gross profit margin was 76% for the second quarter of 2025, which was flat compared to the second quarter of 2024. Gross margin varies based on product mix.
Operating expenses for the second quarter of 2025 were $3.5 million, up $0.4 million compared to the second quarter of 2024.
Net loss for the second quarter of 2025 was $2.0 million, or $0.10 per share, compared to a net loss of $2.1 million for the second quarter of 2024.
As of June 30, 2025, cash and cash equivalents were $4.7 million, and short-term investments in U.S. Treasuries were $3.7 million.
Conference Call
Intrusion’s management will host a conference call today at 5:00 P.M. EDT. Interested investors can access the live call by dialing 1-888-506-0062, or 1-973-528-0011 for international callers, and providing the following access code: 935340. The call will also be webcast live (LINK). For those unable to participate in the live conference call, a replay will be accessible beginning tonight at 7:00 P.M. EDT until August 26, 2025, by dialing 1-877-481-4010, or 1-919-882-2331 for international callers, and entering the following access code: 52497. Additionally, a live and archived audio webcast of the conference call will be available at www.intrusion.com.
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About Intrusion Inc.
Intrusion Inc. is a cybersecurity company based in Plano, Texas, specializing in advanced threat intelligence. At the core of its capabilities is TraceCop, a proprietary database that catalogs the historical behavior, associations, and reputational risk of IPv4 and IPv6 addresses, domain names, and hostnames. Built on years of gathering global internet intelligence and supporting government entities, this data forms the backbone of Intrusion's commercial solutions.
Its most recent solution is Intrusion Shield - a next-generation network security platform designed to detect and prevent threats in real time. In observe mode, Shield delivers analytical insights powered by Intrusion's exclusive data, helping organizations identify unseen patterns and previously unknown risks. In protect mode, it monitors traffic flow and automatically blocks known malicious and unknown connections from entering or exiting the network - providing a powerful defense against Zero-Day threats and ransomware. By integrating Shield into a network, organizations can elevate their overall security posture and enhance the performance of their broader cybersecurity architecture.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. All statements other than statements of historical facts contained herein, including statements regarding our financial position; our ability to continue our business as a going concern; our business, sales, and marketing strategies and plans; our ability to successfully market, sell, and deliver our Intrusion Shield commercial product and solutions to an expanding customer base; are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. Forward-looking statements contained in this press release include, but are not limited to, such statements.
You should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this press release primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, and operating results. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors described in our filings with the Securities and Exchange Commission, including but not limited to our most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as the same may be updated from time to time.
The forward-looking statements made herein relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date hereof or to reflect new information or the occurrence of unanticipated events, except as required by law.
IR Contact:
Alpha IR Group
Mike Cummings or Josh Carroll
INTZ@alpha-ir.com
Source: Intrusion Inc.
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INTRUSION INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except par value amounts)
| June 30, 2025 | December 31, 2024 | |||||||
| (unaudited) | ||||||||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash and cash equivalents | $ | 4,689 | $ | 4,851 | ||||
| Short term investments | 3,749 | – | ||||||
| Accounts receivable, net | 103 | 169 | ||||||
| Contract asset | 1,214 | 8 | ||||||
| Prepaid expenses and other assets | 733 | 506 | ||||||
| Total current assets | 10,488 | 5,534 | ||||||
| Noncurrent Assets: | ||||||||
| Property and equipment: | ||||||||
| Equipment | 2,864 | 2,690 | ||||||
| Capitalized software development | 4,653 | 3,948 | ||||||
| Leasehold improvements | 18 | 18 | ||||||
| Property and equipment, gross | 7,535 | 6,656 | ||||||
| Accumulated depreciation and amortization | (3,543 | ) | (2,809 | ) | ||||
| Property and equipment, net | 3,992 | 3,847 | ||||||
| Finance leases, right-of-use assets, net | 279 | 491 | ||||||
| Operating leases, right-of-use assets, net | 1,310 | 1,356 | ||||||
| Other assets | 287 | 281 | ||||||
| Total noncurrent assets | 5,868 | 5,975 | ||||||
| TOTAL ASSETS | $ | 16,356 | $ | 11,509 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable, trade | $ | 711 | $ | 1,508 | ||||
| Accrued expenses | 265 | 291 | ||||||
| Finance lease liabilities, current portion | 207 | 405 | ||||||
| Operating lease liabilities, current portion | 89 | 209 | ||||||
| Notes payable | – | 529 | ||||||
| Deferred revenue | 1,975 | 730 | ||||||
| Total current liabilities | 3,247 | 3,672 | ||||||
| Noncurrent Liabilities: | ||||||||
| Finance lease liabilities, noncurrent portion | 109 | 172 | ||||||
| Operating lease liabilities, noncurrent portion | 1,367 | 1,414 | ||||||
| Total noncurrent liabilities | 1,476 | 1,586 | ||||||
| Commitments and Contingencies | ||||||||
| Stockholders’ Equity: | ||||||||
| Preferred stock, $0.01 par value: Authorized shares – 5,000; Issued shares – 0 in 2025 and 4 in 2024 | – | 3,827 | ||||||
| Common stock, $0.01 par value: Authorized shares – 80,000; Issued shares – 19,901 in 2025 and 15,591 in 2024; Outstanding shares – 19,900 in 2025 and 15,590 in 2024 | 199 | 156 | ||||||
| Common stock held in treasury, at cost – 1 share | (362 | ) | (362 | ) | ||||
| Additional paid-in capital | 133,986 | 122,552 | ||||||
| Stock subscription receivable | – | (1,872 | ) | |||||
| Accumulated deficit | (122,147 | ) | (118,007 | ) | ||||
| Accumulated other comprehensive loss | (43 | ) | (43 | ) | ||||
| Total stockholders’ equity | 11,633 | 6,251 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 16,356 | $ | 11,509 | ||||
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INTRUSION
INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 | |||||||||||||
| Revenue | $ | 1,873 | $ | 1,460 | $ | 3,648 | $ | 2,591 | ||||||||
| Cost of revenue | 442 | 350 | 874 | 576 | ||||||||||||
| Gross profit | 1,431 | 1,110 | 2,774 | 2,015 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Sales and marketing | 1,207 | 1,158 | 2,391 | 2,335 | ||||||||||||
| Research and development | 1,332 | 1,035 | 2,550 | 2,054 | ||||||||||||
| General and administrative | 978 | 950 | 2,012 | 2,131 | ||||||||||||
| Operating loss | (2,086 | ) | (2,033 | ) | (4,179 | ) | (4,505 | ) | ||||||||
| Interest expense | (21 | ) | (34 | ) | (50 | ) | (262 | ) | ||||||||
| Interest accretion and amortization of debt issuance costs, net | – | – | – | 990 | ||||||||||||
| Other (expense) income, net | 65 | – | 89 | (6 | ) | |||||||||||
| Net loss | $ | (2,042 | ) | $ | (2,067 | ) | $ | (4,140 | ) | $ | (3,783 | ) | ||||
| Net loss per share: | ||||||||||||||||
| Basic | $ | (0.10 | ) | $ | (0.53 | ) | $ | (0.21 | ) | $ | (1.31 | ) | ||||
| Diluted | $ | (0.10 | ) | $ | (0.53 | ) | $ | (0.21 | ) | $ | (1.31 | ) | ||||
| Weighted average common shares outstanding: | ||||||||||||||||
| Basic | 19,895 | 4,327 | 19,557 | 3,099 | ||||||||||||
| Diluted | 19,895 | 4,327 | 19,557 | 3,099 | ||||||||||||
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