INTZHIGH SIGNALRISK10-K

INTZ added explicit going concern language stating "substantial doubt regarding our ability to continue as a going concern" due to recurring losses and negative cash flows.

The addition of going concern language represents a material escalation in disclosed risk that could impact the company's ability to secure financing, retain customers, and attract talent. This formal acknowledgment of survival uncertainty typically precedes either successful turnaround efforts or more severe financial distress.

Comparing 2026-03-25 vs 2025-02-27View on EDGAR →
FINANCIAL ANALYSIS

Despite 21.6% revenue growth to $7.0M and improved stockholders' equity (+16.4%), the company's financial position remains precarious with declining cash reserves (-25.3% to $3.6M) and increased operating cash burn. The positive revenue trajectory and reduced current liabilities (-51.4%) show some operational progress, but the explicit going concern warning indicates management believes current cash and operating performance are insufficient to sustain operations without additional financing.

FINANCIAL STATEMENT CHANGES
Inventory
Balance Sheet
-66.7%
$45K→$15K

Inventory drawn down 66.7% — strong sell-through or deliberate destocking; watch for supply constraints.

Current Liabilities
Balance Sheet
-51.4%
$3.7M→$1.8M

Current liabilities reduced — improved short-term financial position and working capital health.

Capital Expenditure
Cash Flow
+45.8%
$533K→$777K

Capital expenditure jumped 45.8% — major investment cycle underway; assess returns on deployment.

Cash & Equivalents
Balance Sheet
-25.3%
$4.9M→$3.6M

Cash decreased 25.3% — monitor burn rate and upcoming capital needs.

Current Assets
Balance Sheet
-23.5%
$5.5M→$4.2M

Current assets declined 23.5% — monitor working capital adequacy and short-term liquidity.

Accounts Receivable
Balance Sheet
-22.5%
$169K→$131K

Receivables declined — improved collection efficiency or conservative revenue recognition.

Revenue
P&L
+21.6%
$5.8M→$7.0M

Revenue growing 21.6% — solid top-line momentum, watch margins for quality of growth.

Gross Profit
P&L
+21.4%
$4.4M→$5.4M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

R&D Expense
P&L
+16.6%
$4.4M→$5.2M

R&D investment increased 16.6% — signals commitment to future product development, though near-term margin impact.

Stockholders Equity
Balance Sheet
+16.4%
$6.3M→$7.3M

Equity base grew 16.4% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-03-25
PRIOR — 2025-02-27
ADDED
As of March 24, 2026, 20,369,066 shares of the issuer s common stock were outstanding.
Our principal executive offices are located at 101 East Park Boulevard, Suite 1200, Plano, Texas 75074, and our telephone number is (888) 637-7770.
In this report, references to the Company, we, us, our, or Intrusion refer to Intrusion Inc.
Our platform combines threat intelligence, malicious traffic identification, and automated threat response, and is designed to help organizations proactively identify and stop malicious activity in their networks.
For the fiscal years ended December 31, 2025 and 2024, we generated revenues of approximately $7.1 million and $5.8 million, respectively, and reported net loss of approximately $9.1 million and $7.8 million, respectively, and cash flow used in operating activities of approximately $6.8 million and $6.3 million, respectively.
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REMOVED
As of February 25, 2025, 19,342,776 shares of the issuer s common stock were outstanding.
Our principal executive offices are located at 101 East Park Boulevard, Suite 1200, Plano, Texas 75074, and our telephone number is (972) 234-6400.
In this report, references to the Company, we, us, our , or Intrusion refer to Intrusion Inc.
The initial INTRUSION Shield offering released in early 2021, the Shield On-Premise solution, utilizes hardware and is placed behind a firewall in a data center.
Our principal competitors in the data mining and advanced persistent threat market include Darktrace, Trellix, and Recorded Futures.
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