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Intrusion, Inc. Reports First Quarter of Fiscal 2022 Results
INTRUSION Shield Product Development Remains on Schedule for Second Half 2022 DeploymentPLANO, TX / ACCESSWIRE / May 12, 2022 / Intrusion Inc. (NASDAQ:INTZ),
About this update from Intrusion Inc.
[{"type":"text","content":"INTRUSION Shield Product Development Remains on Schedule for Second Half 2022 DeploymentPLANO, TX / ACCESSWIRE / May 12, 2022 / Intrusion Inc. (NASDAQ:INTZ), a leader in cyberattack prevention solutions, announced today financial results for the first quarter of fiscal year 2022.Recent Financial & Business Highlights:First quarter revenue of $1.8 million was up $0.2 million sequentially and flat year-over-year.INTRUSION Shield revenue increased 7% sequentially and represented approximately 12% of total revenue in the quarter.New product development remains on track with planned cloud and end-point solutions products reaching demo capability in the second quarter and will be ready to launch in the second half of 2022.The Company improved its financial flexibility with the closing of the recent unsecured note offering on March 10, 2022.\"We continue to make the planned progress on our strategy and the many initiatives that define our transformation,\" said Tony Scott, CEO of Intrusion. \"The early re-alignment actions we took last year are now beginning to show results with improved partner and channel enablement, increased pipeline, increased POC's, and sales growth beginning in the first quarter and improving in the second quarter. Our new products, INTRUSION Shield Cloud and INTRUSION Shield Endpoint are on track for demo in the second quarter and general availability in the second half of 2022. Importantly, we have strengthened our overall financial position so that we are able to meet our operational needs and support our strategic initiatives.\"\"The cybersecurity landscape is changing rapidly, with zero-day attacks becoming more prevalent. Our products are tested and proven to provide a critical protection layer in an organization's zero trust architecture, with over 25 years of IP reputational behavior to protect entities from these very real threats.\"\"We are moving forward with a clear vision for our future, and we are focused on transforming that vision into compelling and innovative products that uniquely position Intrusion to capitalize on the robust opportunities in the evolving cybersecurity marketplace.\"First Quarter Financial ResultsRevenue for the first quarter of 2022 was $1.8 million, in-line with the first quarter of 2021. The increase in INTRUSION Shield revenue was offset by lower revenue from our legacy c...