Intrusion Inc. INTZ incurred a third-quarter 2024 loss of 35 cents per share compared with a loss of $2.78 a year ago. The bottom line was narrower than the Zacks Consensus Estimate of a loss of 42 cents. Reduced operating and interest costs due to the conversion of $9.5 million of senior debt to equity helped the company achieve a considerably narrower net loss in the third quarter.

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Quarterly revenues totaled $1.5 million, up 2.5% year over year and 3% of 3% on a sequential basis. The Zacks Consensus Estimate for revenues was pegged at $2 million. The upside resulted from an increase in Intrusion Shield revenues (up 49% sequentially). This growth reflects a surge in customer demand for cybersecurity solutions and Intrusion’s expanding market reach as it inks more Intrusion Shield logos each quarter. INTZ added seven new customers to its Shield portfolio in the third quarter, bringing the total number of new logos acquired year to date to 18.

Intrusion Inc. Price, Consensus and EPS Surprise

Intrusion Inc. price-consensus-eps-surprise-chart | Intrusion Inc. Quote

In addition, INTZ was awarded a $2 million contract by the U.S. Department of Defense, supporting the government’s growing cybersecurity efforts through its Shield and consulting services. Management anticipates the continued strength of the Intrusion Shield to enhance financial outcomes in the fourth quarter of 2024 and beyond.

In response to the results, INTZ’s shares jumped 11.5%, and the trading session closed at 82 cents on Nov. 12. Shares of the company have lost 92.2% in the past year against the sub-industry's growth of 10%.

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Other Details

The gross profit margin was 77%, slightly lower than 78% reported in the prior-year quarter, driven by varying product mixes across quarters. 

Total operating expenses for the period were $3.2 million, down from $3.8 million in the previous year quarter.

Operating loss was $2 million, narrowing 24% year over year due to lower operating expenses.

Balance Sheet

As of Sept. 30, 2024, INTZ had total cash and cash equivalents of $1.1 million compared with $1.5 million as of June 30, 2024.

INTZ’s Zacks Rank

INTZ currently carries a Zacks Rank #3 (Hold). You can see  the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Companies

BCE Inc. BCE reported third-quarter 2024 adjusted EPS of C$0.75 (55 cents) compared with C$0.81 in the prior-year quarter. The Zacks Consensus Estimate was pegged at 57 cents.

Shares of BCE lost 26.4% in the past year.

Itron Inc ITRI reported non-GAAP EPS of $1.84 for third-quarter 2024, which beat the Zacks Consensus Estimate by 62.8%. The company reported earnings of 98 cents in the prior-year quarter.

Shares of ITRI surged 94.8% in the past year. 

Watts Water Technologies, Inc. WTS reported third-quarter 2024 adjusted EPS of $2.03 compared with $2.04 in the prior-year quarter. The bottom line topped the Zacks Consensus Estimate by 2%.

Shares of WTS have gained 10.4% in the past year.