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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): July 17,
2023
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) |
(972) 234-6400
(Registrant’s Telephone Number,
Including Area Code)
NOT APPLICABLE
(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:
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | 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. ☐
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 July 17, 2023, Intrusion Inc. issued a press
release announcing preliminary financial results for the quarter ended June 30, 2023. 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
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:July 20, 2023 |
By: |
/s/ Kimberly Pinson |
|
|
Kimberly Pinson |
|
|
Chief Financial Officer |
Exhibit 99.1
Intrusion, Inc. Announces Preliminary Second
Quarter 2023 Results
Announces date for the release of its second
quarter 2023 financial results
PLANO, Texas, July 17, 2023 (GLOBE NEWSWIRE)
-- Intrusion Inc. (NASDAQ: INTZ), a leader in cyberattack prevention solutions, today announced preliminary financial results for the
period ended June 30, 2023.
Top-line revenues for Intrusion Shield are expected
to show an increase of approximately 35% sequentially, and new bookings in the second quarter and early third quarter will further increase
revenues for Intrusion Shield in the second half of fiscal year 2023. Intrusion's consulting business has also begun to show meaningful
growth for the second half of the fiscal year with a new contract from a customer in the travel industry and continued growth in the consulting
business pipeline. Additionally, as a result of the cost-cutting measures implemented in late March, Intrusion’s cash burn was significantly
reduced in the second quarter, and the reduction in cash burn is expected to continue in the third quarter and beyond.
Tony Scott, CEO of Intrusion, said, “We
remain diligent in our efforts to manage our business and calibrate the investments that will shape our future. As I said last quarter,
we are seeing the positive results of these actions in our results and business momentum, which have now materialized in the form of increased
revenue and bookings.”
Second Quarter 2023 Financial Results Conference
Call
Intrusion will release its second quarter 2023 financial results on
Monday, August 14, 2023, after market close. In conjunction with the report, Tony Scott, CEO, and Kimberly Pinson, CFO, will host a conference
call at 5:00 p.m. Eastern Time to discuss the Company’s financial results.
The conference call will be broadcast live in listen-only mode on
the investor relations website (https://ir.intrusion.com/overview/default.aspx).
Analysts and investors who would like to join the live call via teleconference
are invited to dial in using the following information:
Date: Monday, August 14, 2023
Time: 5:00 p.m. EDT
Conference Call Number: 1-404-975-4839
International Call Number: +1-833-470-1428
Access Code: 732778
Webcast Access: https://events.q4inc.com/attendee/361845743
A telephone replay of the conference call will be available approximately
two hours after the conference call through August 21, 2023. The replay can be accessed by dialing 1-929-458-6194 and using the passcode
372323. International callers should dial +1-866-813-9403 and enter the same passcode at the prompt.
About Intrusion Inc.
Intrusion, Inc. is a cybersecurity company based
in Plano, Texas. The Company offers its customers access to its exclusive threat intelligence database containing the historical data,
known associations, and reputational behavior of over 8.5 billion IP addresses. After years of gathering global internet intelligence
and working exclusively with government entities, the Company released its first commercial product in 2021. Intrusion Shield is
designed to allow businesses to incorporate a Zero Trust, reputation-based security solution into their existing infrastructure. Intrusion
Shield observes traffic flow and instantly blocks known malicious or unknown connections from both entering or exiting a network to
help protect against Zero-Day and ransomware attacks. Incorporating Intrusion Shield into a network can elevate an organization's
overall security posture by enhancing the performance and decision-making of other solutions in its cybersecurity architecture.
Cautionary Statement Regarding Forward-Looking
Information
This release may contain certain forward-looking
statements, including, without limitation, our expectations for positive results from our recent sales, marketing, and strategic initiatives,
which statements reflect management’s expectations regarding future events and operating performance. These forward-looking statements
speak only as of the date hereof and involve a number of risks and uncertainties, including the risk that our recent sales, marketing,
and strategic efforts will not result in increased product awareness or sales of our Intrusion Shield. These statements are made
under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties
which could cause actual results to differ materially from those in the forward-looking statements, including, the risk that this financing
fails to provide the needed capital for the Company to execute its current business strategies, the Company does not achieve the anticipated
results from its current sales, marketing, operational, and product development initiatives, as well as risks that we have detailed in
the Company’s most recent reports on Form 10-K and Form 10-Q, particularly under the heading “Risk Factors.”
IR Contact:
Alpha IR Group
Mike Cummings or Josh Carroll
INTZ@alpha-ir.com
Source: Intrusion, Inc.
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