UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 7.01. Regulation FD Disclosure.
On October 10, 2023, Intrusion Inc. (the “Company”) issued a press release (the “Press Release”) announcing that it has been awarded a $5 million agreement with a large telecommunications provider (the “Provider”) for a phased rollout of Intrusion Shield beginning in the fourth quarter of 2023 to provide Intrusion Shield support for the Provider’s data centers.
In accordance with General Instruction B.2 of Form 8-K, the information contained in this Item 7.01 and the Press Release are being furnished under Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information and exhibits be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The Press Release is furnished with this current report on Form 8-K as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
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Exhibit No. |
Description | |
| 99.1 | Press Release dated October 10, 2023. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. The Company uses words and phrases such as “an agreement,” “subject to,” “would,” “provides” “possibility” “builds” “requires” and similar expressions to identify forward-looking statements in this report. Such forward-looking statements are based on information available to the Company as of the date of this report and involve a number of risks and uncertainties, some beyond the Company’s control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) the ability to overcome any objections or appeals regarding the settlement and (ii) other risks described in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, and future filings and reports by the Company. These forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date, and the Company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
| 2 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| INTRUSION INC. | ||
| Dated: October 10, 2023 | By: | /s/ Kimberly Pinson |
| Kimberly Pinson | ||
| Chief Financial Officer | ||
| 3 |
Exhibit 99.1
Intrusion Awarded a $5 million Multi-Year Shield Agreement with a Large Telecommunications Provider and Reports Additional Customer Wins
PLANO, Texas, Oct 10, 2023 (GLOBAL NEWSWIRE) - Intrusion, Inc, (NASDAQ: INTZ) a leader in cyber-attack prevention solutions, including zero-days, today announced that it has been awarded a $5 million agreement with a large telecommunications provider to provide Intrusion Shield support for its data centers. The award includes a phased rollout of Intrusion Shield beginning in the fourth quarter of 2023 and builds on a successful pilot that began in the first quarter of 2023. The terms of the five-year award allow for further expansion of the use of Intrusion Shield, with the possibility of generating additional revenue after the completion of the initial set of projects. During the third quarter of 2023, Intrusion also booked four other new contracts, which are also expected to grow over time.
"We are excited to announce this multi-year agreement, which utilizes our capabilities in protecting critical infrastructure from cyber attackers,” said Tony Scott, CEO of Intrusion. “We’ve seen an increase in the targeting of data centers for numerous businesses around the world, and this award is evidence of the effectiveness and capabilities of Intrusion Shield at scale. With this award and the other four new contracts across diverse industries we signed in the third quarter, we see signs that our go-to-market strategy with partners is working.”
Intrusion will provide further information about the transaction with the large telecommunications provider after final implementation details have been agreed upon, and a public announcement ceremony has been scheduled.
About Intrusion, Inc.
Intrusion, Inc. is a cybersecurity company based in Plano, Texas. The Company offers its customers access to its exclusive threat intelligence database containing the historical data, known associations, and reputational behavior of over 8.5 billion IP addresses. After years of gathering global internet intelligence and working with government entities, the company released its first commercial product in 2021. Intrusion Shield allows businesses to incorporate a Zero Trust, reputation-based security solution into their existing infrastructure. Intrusion Shield observes traffic flow and instantly blocks known or unknown malicious connections from entering or exiting a network to help protect against zero-day and ransomware attacks. Incorporating Intrusion Shield into a network elevates an organization's overall security posture by enhancing the performance and decision-making of other solutions in its cybersecurity architecture.
Cautionary Statement Regarding Forward-Looking Information
This release may contain certain forward-looking statements, including, without limitations, comments about the performance of protections provided by our Intrusion Shield product and any other words that react to management’s expectations regarding future events and operating performance. These forward-looking statements speak only as of the date hereof. They involve several risks and uncertainties, including, without limitation, the chances that our products and solutions do not perform as anticipated or do not meet with widespread market acceptance. 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 in the forward-looking statements, including risks that we have detailed in the Company’s most recent reports on Form 10-K and Form 10-Q, particularly under the heading “Risk Factors.”
IR Contact
Alpha IR Group
Mike Cummings or Josh Carroll
INTZ@alpha-ir.com
Source: Intrusion, Inc.
Cover |
Oct. 10, 2023 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Oct. 10, 2023 |
| Entity File Number | 001-39608 |
| Entity Registrant Name | INTRUSION INC. |
| Entity Central Index Key | 0000736012 |
| Entity Tax Identification Number | 75-1911917 |
| Entity Incorporation, State or Country Code | DE |
| Entity Address, Address Line One | 101 East Park Blvd |
| Entity Address, Address Line Two | Suite 1200 |
| Entity Address, City or Town | Plano |
| Entity Address, State or Province | TX |
| Entity Address, Postal Zip Code | 75074 |
| City Area Code | (888) |
| Local Phone Number | 637-7770 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, $0.01 par value per share |
| Trading Symbol | INTZ |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
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