Intrusion SEC Filings

Intrusion Inc. reported weak first quarter 2026 results as revenue fell sharply while losses widened, but management highlighted new contracts and financing that they believe support a path to profitability later in the year.

Revenue for the quarter ended March 31, 2026 was $0.9 million, down about 50% from $1.8 million a year earlier, mainly due to delays in a key U.S. government contract. Gross profit was $0.7 million with a 74% margin, slightly lower than the prior year.

Operating expenses rose to $4.2 million, leading to a larger operating loss of $3.6 million and a net loss of $3.6 million, or $(0.18) per share, versus a $2.1 million loss, or $(0.11) per share, in 2025. Cash and cash equivalents were $1.4 million at quarter‑end.

To bolster liquidity, Intrusion entered into a $3 million secured financing agreement in early April 2026. The company also secured a $4 million contract with a state government agency for its cyber threat intelligence and critical infrastructure protection technology and is expanding its P.O.S.S.E. law enforcement security program, which management says underpins expectations of reaching profitability by the end of fiscal 2026.

Intrusion, Inc. disclosed that Nasdaq has notified the company its common stock no longer meets the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The stock’s closing bid price was below $1.00 per share for 30 consecutive trading days from March 25, 2026 through May 6, 2026.

The company has a 180‑day grace period, until November 3, 2026, to regain compliance by achieving a closing bid of at least $1.00 for 10 consecutive business days. Intrusion may seek an additional 180‑day extension if it meets other listing standards and could consider a reverse stock split. Its shares remain listed for now, but they could be delisted if compliance is not restored.

Intrusion Inc. entered into a secured financing by issuing a $3,230,000 promissory note for $3,000,000 in cash to Streeterville Capital. The note bears 7% annual interest, compounds daily, matures in 24 months, and is secured by a first‑priority lien on all company assets and intellectual property. After 90 days, a monitoring fee increases the outstanding balance by about 17.65%, and the investor may require cash redemptions of up to $250,000 per month starting six months after funding. The deal also adds restrictive covenants on future financings, a most‑favored‑nation clause, and a 10% participation right for the investor in future debt or equity raises.

Intrusion Inc. reports higher revenue but ongoing losses and liquidity pressure. For the year ended December 31, 2025, revenue rose 22.9% to $7.1 million, mainly from U.S. Department of Defense work, while net loss widened to $9.1 million.

Gross margin stayed strong at 75.8%, but operating expenses grew 13% to $14.5 million. The company used $6.8 million in operating cash and ended 2025 with $3.6 million of cash and $2.4 million of working capital, relying heavily on equity raises, including a $7.0 million registered direct offering and draws under a standby equity purchase agreement.

Auditors included a going concern explanatory paragraph, citing recurring losses, negative operating cash flows, and dependence on external financing. Government customers contributed 94.6% of 2025 revenue, with three entities each over 10%, leaving results highly exposed to federal budget timing and priorities. A 1‑for‑20 reverse stock split was effected in March 2024, and the company now has an ATM program with H.C. Wainwright for up to $50.0 million of potential future issuances.

Intrusion Inc. reported mixed fourth quarter and full-year 2025 results. Q4 2025 revenue was $1.5 million, down 12% year over year, mainly due to a delayed U.S. government contract award, which also weighed on quarterly profitability.

For full year 2025, revenue rose to $7.1 million, a 23% increase from 2024, while gross margin held strong at 76%. Operating expenses increased to $14.5 million, leading to a net loss of $9.1 million, or $(0.46) per share, compared with a $7.8 million loss in 2024.

Cash and cash equivalents were $3.6 million as of December 31, 2025. Management highlighted product expansion for the Intrusion Shield platform, partnerships in public safety and government sectors, and is seeking a small debt financing to support growth initiatives.

Intrusion Inc.'s Chief Technology Officer reports tax withholding on vested stock. On January 22, 2026, T. Joe Head had 11,085 shares of common stock withheld at $1.30 per share. According to the footnote, these shares were withheld by the company to cover minimum statutory taxes due when restricted stock units vested, rather than sold in an open-market transaction. After this withholding, Head directly beneficially owned 72,556 shares of Intrusion Inc. common stock.

Intrusion Inc. Chief Financial Officer Kimberly Pinson reported an insider transaction involving company common stock. On 01/22/2026, 11,085 shares of common stock were withheld by Intrusion Inc. to satisfy minimum statutory tax withholding requirements triggered by the vesting of restricted stock units. The transaction was reported with code F on the Form 4, indicating a tax-related share withholding rather than an open market trade. After this withholding, Pinson beneficially owned 50,069 shares of Intrusion Inc. common stock in direct ownership.

Intrusion Inc. Chief Financial Officer Kimberly Pinson reported buying additional company stock through an employee program. On December 31, 2025, she purchased 2,500 shares of Intrusion common stock at $0.9775 per share, coded as a purchase in the filing.

According to the footnote, this transaction was made under the company’s Employee Stock Purchase Plan, after she reenrolled on July 1, 2025. Following this acquisition, Pinson directly owned 61,154 Intrusion shares, reflecting her personal equity stake as an executive officer.

Intrusion Inc. reported an insider stock purchase by its Chief Executive Officer, Scott Anthony. On December 31, 2025, he acquired 2,175 shares of Intrusion common stock through the company’s Employee Stock Purchase Plan at a price of $0.9775 per share. Following this transaction, he beneficially owned 638,793 shares of Intrusion common stock held directly.

The filing characterizes this as a routine employee stock plan purchase rather than a discretionary open-market trade.