Intrusion Inc. reported Q2 2024 revenue of $1.46 million, relatively flat compared to $1.47 million in Q2 2023. The company posted a net loss of $2.07 million, an improvement from a $3.13 million loss in the same period last year. Gross profit margin remained strong at 76.0%, while operating expenses decreased 23% to $3.1 million due to cost reduction measures.The company's financial position showed improvement with cash and cash equivalents of $1.5 million as of June 30, 2024, up from $139,000 at year-end 2023. During Q2, Intrusion successfully restructured its debt by converting $9.5 million of Streeterville debt into equity through exchanges for Series A preferred stock and common stock, significantly strengthening its balance sheet.Management continues to focus on growth initiatives while maintaining cost discipline. The company secured new funding through a $10 million Standby Equity Purchase Agreement with Streeterville Capital in July 2024, providing additional financial flexibility. However, management noted that if unable to raise adequate funds through ATM programs or equity financing, the company may face challenges implementing its business plan or continuing operations.

Intrusion Inc. reported Q2 2024 revenue of $1.46 million, relatively flat compared to $1.47 million in Q2 2023. The company posted a net loss of $2.07 million, an improvement from a $3.13 million loss in the same period last year. Gross profit margin remained strong at 76.0%, while operating expenses decreased 23% to $3.1 million due to cost reduction measures.The company's financial position showed improvement with cash and cash equivalents of $1.5 million as of June 30, 2024, up from $139,000 at year-end 2023. During Q2, Intrusion successfully restructured its debt by converting $9.5 million of Streeterville debt into equity through exchanges for Series A preferred stock and common stock, significantly strengthening its balance sheet.Management continues to focus on growth initiatives while maintaining cost discipline. The company secured new funding through a $10 million Standby Equity Purchase Agreement with Streeterville Capital in July 2024, providing additional financial flexibility. However, management noted that if unable to raise adequate funds through ATM programs or equity financing, the company may face challenges implementing its business plan or continuing operations.