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Intrusion (INTZ) Q2 Loss Narrower Than Expected, Revenues Top
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Intrusion Inc. (INTZ - Free Report) incurred a second-quarter 2024 loss of 53 cents per share compared with a loss of $2.92 a year ago. The figure was narrower than the Zacks Consensus Estimate of a loss of 72 cents.
The quarter’s revenues totaled $1.5 million, beating the Zacks Consensus Estimate by 16.8%. The top line decreased 0.5% year over year.
However, total revenues rose 29% on a sequential basis.
The sequential top-line growth during the second quarter was primarily driven by the addition of a government contract for Shield and consulting services, as well as the signing of several new logos over the past few quarters.
Intrusion expanded its customer base within the government sector by securing a significant new order for Intrusion Shield. This marked a key milestone as it represented the first large-scale adoption of their Shield technology by government clients.
Consulting revenues in the second quarter reached $1.2 million, reflecting a sequential increase of $0.5 million and a year-over-year rise of $0.1 million. This growth was driven by the approval of the federal budget in late March, which allowed for the issuance of new contract awards and the progression of current task awards on existing government contracts.
Shield revenues for the second quarter totaled $0.3 million, marking a decrease of $0.1 million both sequentially and year over year. This reduction resulted from the loss of a large early Intrusion Shield client who had used a highly customized and non-standard version of the product. However, the impact of this loss was partially mitigated by revenue contributions from new clients secured in recent quarters.
Gross profit margin was 76% compared with 78% a year ago. Operating loss totaled $2 million compared with operating loss of $2.9 million in the prior-year quarter.Total operating expenses for the period were $3.1 million, down $0.9 million.
Balance Sheet
As of Jun 30, 2024, INTZ had total cash and cash equivalents of $1.5 million compared with $0.1 million as of Mar 31, 2024.
Cisco Systems, Inc. (CSCO - Free Report) reported fourth-quarter fiscal 2024 non-GAAP earnings of 87 cents per share, which beat the Zacks Consensus Estimate by 2.35%. The bottom line fell 23.7% year over year. Revenues decreased 10.3% year over year to $13.64 billion but beat the consensus mark by 0.9%.
NETGEAR, Inc (NTGR - Free Report) reported a second-quarter 2024 non-GAAP loss of 74 cents per share compared with the non-GAAP loss of 16 cents in the year-ago quarter. NETGEAR generated net revenues of $143.9 million, down 17% year over year. The top line beat the consensus estimate by 8.45%.
RADCOM Ltd. (RDCM - Free Report) came out with quarterly earnings of 20 cents per share, beating the Zacks Consensus Estimate of 15 cents per share. This compares to earnings of 13 per share a year ago. The company revenues of $14.8 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 5%. This compares to year-ago revenues of $12.4 million.
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Intrusion (INTZ) Q2 Loss Narrower Than Expected, Revenues Top
Intrusion Inc. (INTZ - Free Report) incurred a second-quarter 2024 loss of 53 cents per share compared with a loss of $2.92 a year ago. The figure was narrower than the Zacks Consensus Estimate of a loss of 72 cents.
The quarter’s revenues totaled $1.5 million, beating the Zacks Consensus Estimate by 16.8%. The top line decreased 0.5% year over year.
However, total revenues rose 29% on a sequential basis.
The sequential top-line growth during the second quarter was primarily driven by the addition of a government contract for Shield and consulting services, as well as the signing of several new logos over the past few quarters.
Intrusion expanded its customer base within the government sector by securing a significant new order for Intrusion Shield. This marked a key milestone as it represented the first large-scale adoption of their Shield technology by government clients.
Consulting revenues in the second quarter reached $1.2 million, reflecting a sequential increase of $0.5 million and a year-over-year rise of $0.1 million. This growth was driven by the approval of the federal budget in late March, which allowed for the issuance of new contract awards and the progression of current task awards on existing government contracts.
Shield revenues for the second quarter totaled $0.3 million, marking a decrease of $0.1 million both sequentially and year over year. This reduction resulted from the loss of a large early Intrusion Shield client who had used a highly customized and non-standard version of the product. However, the impact of this loss was partially mitigated by revenue contributions from new clients secured in recent quarters.
Intrusion Inc. Price, Consensus and EPS Surprise
Intrusion Inc. price-consensus-eps-surprise-chart | Intrusion Inc. Quote
Other Details
Gross profit margin was 76% compared with 78% a year ago.
Operating loss totaled $2 million compared with operating loss of $2.9 million in the prior-year quarter.Total operating expenses for the period were $3.1 million, down $0.9 million.
Balance Sheet
As of Jun 30, 2024, INTZ had total cash and cash equivalents of $1.5 million compared with $0.1 million as of Mar 31, 2024.
Zacks Rank
INTZ currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Companies
Cisco Systems, Inc. (CSCO - Free Report) reported fourth-quarter fiscal 2024 non-GAAP earnings of 87 cents per share, which beat the Zacks Consensus Estimate by 2.35%. The bottom line fell 23.7% year over year. Revenues decreased 10.3% year over year to $13.64 billion but beat the consensus mark by 0.9%.
NETGEAR, Inc (NTGR - Free Report) reported a second-quarter 2024 non-GAAP loss of 74 cents per share compared with the non-GAAP loss of 16 cents in the year-ago quarter. NETGEAR generated net revenues of $143.9 million, down 17% year over year. The top line beat the consensus estimate by 8.45%.
RADCOM Ltd. (RDCM - Free Report) came out with quarterly earnings of 20 cents per share, beating the Zacks Consensus Estimate of 15 cents per share. This compares to earnings of 13 per share a year ago. The company revenues of $14.8 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 5%. This compares to year-ago revenues of $12.4 million.