Intrusion nosedives after wider loss, lower rev

Intrusion

07/03/2023 17:50

** Shares of cybersecurity co Intrusion Inc.  INTZ.O  hit
near five-year low, last down 24.6% at $1.69
    ** Posts wider loss in quarter of $0.25 per share vs $0.20
reported last year
    ** Rev fell 12% to $1.4 mln in quarter, year-over-year
    ** Says top-line Q4 results were not as expected, primarily
due to loss of a single consulting contract in the quarter
    ** Estimates it will require between $15 to $20 mln in 2023
to fund its growth plan and financial commitments
    ** As of December 31, 2022, cash and cash equivalents were
$3.0 mln, down from $4.1 mln a year earlier
    ** INTZ stock fell 46.03% YTD

 (Reporting by Vaibhav Sadhamta in Bengaluru)
 ((Vaibhav.sadhamta@thomsonreuters.com))