$INTZ

INTRUSION INC

CIK:0000736012|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 1,453	$ 1,873	$ 2,341	$ 3,648
Cost of revenue	488	442	717	874
Gross profit	965	1,431	1,624	2,774
Operating expenses:
Sales and marketing	1,365	1,207	2,995	2,391
Research and development	1,145	1,332	2,596	2,550
General and administrative	948	978	2,098	2,012
Operating loss	(2,493)	(2,086)	(6,065)	(4,179)
Interest expense	(110)	(21)	(121)	(50)
Other income, net	7	65	27	89
Net loss	(2,596)	(2,042)	(6,159)	(4,140)
Less net loss attributable to noncontrolling interests	(6)	0	(6)	0
Net loss attributable to Intrusion, Inc.	$ (2,590)	$ (2,042)	$ (6,153)	$ (4,140)
Net loss per share:
Basic	$ (0.13)	$ (0.10)	$ (0.30)	$ (0.21)
Diluted	$ (0.13)	$ (0.10)	$ (0.30)	$ (0.21)
Weighted average common shares outstanding:
Basic	20,395	19,895	20,335	19,557
Diluted	20,395	19,895	20,335	19,557

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net loss	$ (6,159)	$ (4,140)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	819	931
Provision for credit losses	5	0
Stock-based compensation	212	504
Non-cash lease costs	207	109
Non-cash interest	99	9
Changes in operating assets and liabilities:
Accounts receivable	(916)	66
Prepaid expenses and other assets	(134)	(1,442)
Accounts payable and accrued expenses	393	(302)
Operating lease liabilities	(228)	(230)
Deferred revenue	291	1,245
Net cash used in operating activities	(5,411)	(3,250)
Investing Activities:
Purchases of United States (“U.S.”) treasury securities	0	(3,749)
Purchases of property and equipment	(55)	(725)
Capitalized software development	(587)	(676)
Cash paid for acquisition, net of cash acquired	(356)	0
Net cash used in investing activities	(998)	(5,150)
Financing Activities:
Proceeds from public stock offering net of fees	(6)	(97)
Proceeds from notes payable	3,349	0
Cash paid for debt issuance costs	(178)	0
Proceeds from registered direct offering, net of fees	0	7,026
Proceeds from stock subscription receivable	0	1,542
Proceeds related to the issuance of common stock under stock purchase plan	12	10
Reduction of finance lease liabilities	(69)	(243)
Cash paid for taxes withheld on net settled restricted stock unit vesting	(141)	0
Net cash provided by financing activities	2,967	8,238
Net decrease in cash and cash equivalents	(3,442)	(162)
Cash and cash equivalents at beginning of period	3,624	4,851
Cash and cash equivalents at end of period	182	4,689
SUPPLEMENTAL DISCLOSURE OF CASH FLOW ACTIVITIES:
Cash paid for interest	0	5
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Capitalized asset and capitalized software included in accounts payable	0	89
Common stock issued to reduce notes payable	0	537
Modification of right-of-use finance lease	0	(18)
Common stock issued for acquisition	$ 1,590	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 182	$ 3,624
Accounts receivable, net of allowance of $0.1 million	1,452	131
Prepaid expenses and other assets	682	476
Total current assets	2,316	4,231
Property and equipment:
Equipment	2,983	2,917
Capitalized software development	6,252	5,663
Leasehold improvements	18	18
Property and equipment, gross	9,253	8,598
Accumulated depreciation and amortization	(5,070)	(4,313)
Property and equipment, net	4,183	4,285
Goodwill	4,299	0
Finance leases, right-of-use assets (“ROU”), net	163	222
Operating leases, ROU, net	1,247	1,392
Other assets	263	257
Total noncurrent assets	10,155	6,156
TOTAL ASSETS	12,471	10,387
Current Liabilities:
Accounts payable, trade	2,277	492
Accrued expenses	522	357
Finance lease liabilities, current portion	99	167
Operating leases liabilities, current portion	79	266
Notes payable, current portion	2,236	0
Deferred revenue	794	503
Total current liabilities	6,007	1,785
Noncurrent Liabilities:
Finance lease liabilities, noncurrent portion	5	6
Operating lease liabilities, noncurrent portion	1,340	1,319
Notes payable, noncurrent portion	1,034	0
Total noncurrent liabilities	2,379	1,325
Commitments and Contingencies – (See Note 5)
Stockholders’ Equity:
Preferred stock, $0.01 par value: Authorized shares – 5,000; Issued shares – 0 in 2026 and 2025	0	0
Common stock, $0.01 par value: Authorized shares – 80,000; Issued shares – 22,758 in 2026 and 20,117 in 2025; Outstanding shares – 22,757 in 2026 and 20,116 in 2025	228	201
Common stock held in treasury, at cost – 1 share(s)	(362)	(362)
Additional paid-in capital	136,187	134,547
Accumulated deficit	(133,219)	(127,066)
Noncontrolling interest	1,294	0
Accumulated other comprehensive loss	(43)	(43)
Total stockholders’ equity	4,085	7,277
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 12,471	$ 10,387