Intrusion Q3 revenue jumps 36% on VigilAigent acquisition

Overview

• U.S. cybersecurity provider's Q3 revenue rose 36% yr/yr, driven by VigilAigent acquisition

• Q3 net loss widened to $2.9 mln due to higher operating and interest expenses

• Company completed $4 mln debt-for-equity swap, raising equity above $5 mln and securing Nasdaq extension

Outlook

• Company aims to grow recurring revenue and expand commercial reach

• Intrusion sees opportunities in expanding partnerships and government relationships to support future growth

• Company remains committed to disciplined execution toward achieving profitability

Result Drivers

• VIGILAIGENT ACQUISITION - First full quarter of revenue from VigilAigent boosted Q3 sales, per CEO Tony Scott

• PRODUCT MIX SHIFT - Gross margin declined due to addition of lower-margin managed services revenue from VigilAigent

• COST REDUCTION MEASURES - Co implemented headcount reductions and cut discretionary spending to improve cost efficiency

Company press release:

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the it services & consulting peer group is "buy"

• Wall Street's median 12-month price target for Intrusion Inc is $5.00, about 753.2% above its November 11 closing price of $0.59

Reuters Recommended Reads

• Nov 12 - Sweden's cybersecurity firm Clavister Q3 net sales rise

• Nov 11 - AI is increasing the speed of cyberattacks, insurance panel says

• Nov 10 - Palladyne AI beats Q3 revenue estimates, raises lower end of forecast

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)