INTRUSION Announces Strategic Actions, Preliminary Second Quarter Revenue and Organizational Changes

PLANO, Texas, July 20, 2021 (GLOBE NEWSWIRE) – INTRUSION, Inc. (Nasdaq: INTZ) today announced preliminary revenue for the second quarter of 2021, which is expected to be between $ 1.9 million and $ 2.0 million. Additionally, since INTRUSION believes that additional capital may be required to achieve profitability, it engaged an investment banking firm to assess various sources of funding, as well as potentially constructive long-term strategic options that could help INTRUSION grow, meet its operating objectives and maximize shareholder value.

Recent global interest and recognition of the Shield solution is increasing, although INTRUSION experienced a slower-than-expected sales ramp-up due to the longer customer evaluation cycles typically seen in most enterprise security sales organizations. Based on customer feedback, the Company remains confident in Shields the effectiveness and valuable protection it offers to clients in helping them fight the growing war on cybercrime. The team continues to work closely with partners and the sales channel to further test with potential customers and convert a growing pipeline of customer engagements into recurring subscriptions.

In addition, Jack B. Blount, previously President, CEO and member of the Board of Directors, has left the company with immediate effect and no longer has any affiliation with INTRUSION. The Board of Directors asked CFO Franklin Byrd and CTO Joe Head, who is also a co-founder of INTRUSION, to jointly take on operational responsibilities on behalf of the company until a successor be appointed, and both will report to Council immediately.

INTRUSION will release its full second quarter results on Thursday, August 12 and host a conference call with Anthony LeVecchio, Chairman of the Board, and Messrs. Byrd and Head attending at 4:00 p.m. Central Time. Investors and analysts can join the conference call by dialing 1-833-366-0416 and providing the confirmation ID 5994378. International callers can join the conference call by dialing + 1-236-712-2506 and entering the same confirmation ID when prompted. In addition, this conference call will be broadcast live, listen-only, on the Investor Relations website at ir.intrusion.com.

About INTRUSION, Inc.

INTRUSION, Inc. (NASDAQ: INTZ) protects businesses of all sizes by leveraging advanced threat intelligence and real-time artificial intelligence to kill cyber attacks as they occur, including zero- days. INTRUSION’s solution families include INTRUSION Shield, an advanced cyber defense solution that kills cyber attacks in real time using artificial intelligence (AI) and an advanced threat intelligence cloud; INTRUSION TraceCop for identity discovery and disclosure; and INTRUSION Learned for network data mining and advanced detection of persistent threats. For more information, please visit www.intrusion.com.

Caution regarding forward-looking information

This press release may contain certain forward-looking statements, including, without limitation, statements about the performance of the protections provided by our INTRUSION Shield product, our estimated second quarter revenues, our future capital requirements, as well as the potential benefits of engaging investment professionals to assist the company, as well as any other statements that reflect management’s expectations regarding future events and operational performance. These forward-looking statements speak only as of the date hereof and involve a number of risks and uncertainties, including, without limitation, the risks that our products and solutions will not perform as intended or meet. broad market acceptance, or that our estimates of income, capital requirements and funding opportunities may prove to be inaccurate. These statements are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those of forward-looking statements, including the risks that we have detailed in the most recent Company reports on Forms 10-K and 10-Q, in particular under the heading “Risk Factors”.

INTRUSION Media inquiries

PR Contact: Michael Krems, Analyst and Public Relations Manager
E-mail: [email protected]Mobile: 805.496.8166

IR contact: Joel Achramowicz
[email protected]Phone. : 415-845-9964

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