In a tumultuous year for Intrusion Inc., the cybersecurity firm's stock has hit a 52-week low, trading at just $0.51. With a market capitalization of only $4.16 million and an EBITDA of -$7.3 million, this latest price point underscores a dramatic downturn for the company, which has seen its stock value erode by nearly 90% year-to-date. Investors have been grappling with a series of challenges that have beset the company, leading to a significant loss of confidence and a stark departure from previous market valuations. Despite maintaining an impressive gross profit margin of 77.8%, the company's weak financial health score and current ratio of 0.72 on InvestingPro signal ongoing concerns. The steep year-on-year decline has raised questions about the company's future prospects and its position within the competitive cybersecurity landscape. Discover 12 additional key insights about Intrusion Inc. with an InvestingPro subscription.
In other recent news, INTRUSION Inc. has been actively making strategic moves to manage its capital structure and stimulate its financial performance. The company has recently launched an incentive program to encourage the exercise of outstanding warrants, potentially leading to an increased number of shares in the market and additional capital. Concurrently, INTRUSION Inc. has executed an unregistered exchange of equity securities with Streeterville Capital, LLC, swapping 68 shares of its Series A Preferred for 110,340 shares of common stock.
These initiatives are part of the recent developments that the company has been undertaking. INTRUSION Inc. also announced its second consecutive quarter of revenue growth during its Third Quarter 2024 Earnings Conference Call. The company's total revenues reached $1.5 million, marking a 3% sequential increase, largely driven by the company's Shield product line, which saw a 49% sequential revenue increase due to a new $2 million contract with the U.S. Department of Defense.
Despite a slight decrease in consulting revenue and an overall net loss, the company's net loss improved year-over-year from $3.2 million to $2.1 million. The company is optimistic about achieving its revenue and profitability goals in 2025 and is actively enhancing product capabilities while seeking to expand its market presence, particularly in the Asia Pacific region.
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