Intrusion Q3 revenue jumps 36% on VigilAigent acquisition
INTZ•Intrusion's third-quarter revenue rose 36% year over year to $2.68 million, driven by the VigilAigent acquisition, while its net loss was $3.08 million. The company completed a $4 million debt-for-equity swap, raising equity above $5 million and securing a Nasdaq extension.
1. Revenue and loss
Intrusion reported third-quarter revenue of $2.68 million, up 36% year over year and above the $2.10 million estimate. The company posted a net loss of $3.08 million and gross margin of 55%; it attributed the revenue increase to its first full quarter of VigilAigent revenue and said the addition of lower-margin managed services reduced gross margin.
2. Debt and outlook
Intrusion completed a $4 million debt-for-equity swap, raising equity above $5 million and securing a Nasdaq extension. The company said it aims to grow recurring revenue, expand commercial reach and pursue opportunities through partnerships and government relationships, while remaining committed to cost reductions and achieving profitability.
