Revenue growth has turned sharply negative with a 50% contraction in 2026Q1, despite the company maintaining a relatively stable gross margin profile of approximately 75%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 6.21M | 7.09M | 5.77M | 5.61M | 7.53M | 7.28M | 6.62M | 13.64M | 10.28M | 6.86M | 6.1M | 6.82M | 7.22M | 7.66M | 6.7M | 5.35M | 5.59M | 4.92M | 4.14M | 3.51M | 5.24M | 5.98M | 6.02M | 6.48M | 7.83M | 16.68M | 23.21M | 58M | 74.6M | 92.3M | 117.9M |
| Revenue Growth % | -3.21% | 22.94% | 2.85% | -25.47% | 3.46% | 9.94% | -51.48% | 32.77% | 49.75% | 12.45% | -10.58% | -5.47% | -5.79% | 14.42% | 25.22% | -4.29% | 13.58% | 18.84% | 17.95% | -33.04% | -12.31% | -0.68% | -7.09% | -17.31% | -53.05% | -28.11% | -59.98% | -22.25% | -19.18% | -21.71% | 5.74% |
| Cost of Goods Sold | 1.51M | 1.72M | 1.34M | 1.26M | 3.35M | 3.62M | 2.71M | 5.34M | 3.85M | 2.82M | 2.18M | 2.53M | 2.53M | 2.75M | 2.71M | 2.06M | 2.06M | 1.66M | 1.38M | 1.38M | 2.2M | 2.51M | 2.95M | 3.99M | 6.15M | 13.49M | 15.43M | 29.9M | 46.6M | 52.5M | 58.1M |
| COGS % of Revenue | - | 24.17% | 23.24% | 22.4% | 44.55% | 49.76% | 40.93% | 39.16% | 37.44% | 41.15% | 35.78% | 37.08% | 35.07% | 35.9% | 40.42% | 38.46% | 36.86% | 33.78% | 33.21% | 39.2% | 42.05% | 42.05% | 49.01% | 61.56% | 78.47% | 80.85% | 66.48% | 51.55% | 62.47% | 56.88% | 49.28% |
| Gross Profit | 4.7M | 5.38M | 4.43M | 4.35M | 4.17M | 3.66M | 3.91M | 8.3M | 6.43M | 4.04M | 3.92M | 4.29M | 4.69M | 4.91M | 3.99M | 3.29M | 3.53M | 3.26M | 2.77M | 2.13M | 3.04M | 3.46M | 3.07M | 2.49M | 1.69M | 3.19M | 7.78M | 28.1M | 28M | 39.8M | 59.8M |
| Gross Margin % | 75.65% | 75.83% | 76.76% | 77.6% | 55.45% | 50.24% | 59.07% | 60.84% | 62.56% | 58.85% | 64.22% | 62.92% | 64.93% | 64.1% | 59.58% | 61.54% | 63.14% | 66.22% | 66.79% | 60.8% | 57.95% | 57.95% | 50.99% | 38.44% | 21.53% | 19.15% | 33.52% | 48.45% | 37.53% | 43.12% | 50.72% |
| Gross Profit Growth % | - | 21.44% | 1.75% | 4.29% | 14.2% | -6.5% | -52.9% | 29.12% | 59.21% | 3.04% | -8.73% | -8.38% | -4.58% | 23.11% | 21.24% | -6.72% | 8.29% | 17.83% | 29.57% | -29.76% | -12.3% | 12.87% | 23.25% | 47.6% | -47.2% | -58.94% | -72.31% | 0.36% | -29.65% | -33.44% | 2.93% |
| Operating Expenses | 15.34M | 14.54M | 12.88M | 16.4M | 20.46M | 23.16M | 10.43M | 3.79M | 3.95M | 4.79M | 5.33M | 5.44M | 4.91M | 4.16M | 4.12M | 4.04M | 3.31M | 3.01M | 3.51M | 4.54M | 6.03M | 6.87M | 7.38M | 11.81M | 24.26M | 41.81M | 51.23M | 41.2M | 51.1M | 49.4M | 42.8M |
| OpEx % of Revenue | - | 204.99% | 223.12% | 292.28% | 271.72% | 318.25% | 157.62% | 27.81% | 38.47% | 69.76% | 87.28% | 79.66% | 67.99% | 54.26% | 61.52% | 75.54% | 59.2% | 61.14% | 84.81% | 129.2% | 115.07% | 114.94% | 122.69% | 182.31% | 309.68% | 250.6% | 220.74% | 71.03% | 68.5% | 53.52% | 36.3% |
| Selling, General & Admin | 9.93M | 9.37M | 8.44M | 10.84M | 13.99M | 16.83M | 6.64M | 2.48M | 2.72M | 2.63M | 2.83M | 3.12M | 2.97M | 2.58M | 2.46M | 2.48M | 1.91M | 1.9M | 2.38M | 2.88M | 3.96M | 4.32M | 4.84M | 7.86M | 14.37M | 28.03M | 33.6M | 25.7M | 34.3M | 35.3M | 29.8M |
| SG&A % of Revenue | - | 132.09% | 146.27% | 193.26% | 185.85% | 231.29% | 100.26% | 18.18% | 26.43% | 38.25% | 46.33% | 45.74% | 41.1% | 33.66% | 36.73% | 46.47% | 34.23% | 38.66% | 57.37% | 82.05% | 75.64% | 72.23% | 80.35% | 121.36% | 183.37% | 168% | 144.79% | 44.31% | 45.98% | 38.24% | 25.28% |
| Research & Development | 5.41M | 5.17M | 4.43M | 5.56M | 6.46M | 6.33M | 3.8M | 1.31M | 1.24M | 2.16M | 2.5M | 2.31M | 1.94M | 1.58M | 1.66M | 1.55M | 1.4M | 1.11M | 1.14M | 1.66M | 2.07M | 2.55M | 2.55M | 3.5M | 6.09M | 12.55M | 13.07M | 11.7M | 12.2M | 10.8M | 10.4M |
| R&D % of Revenue | - | 72.9% | 76.85% | 99.02% | 85.87% | 86.96% | 57.37% | 9.63% | 12.04% | 31.51% | 40.95% | 33.92% | 26.89% | 20.61% | 24.79% | 29.08% | 24.96% | 22.48% | 27.44% | 47.15% | 39.43% | 42.71% | 42.35% | 54% | 77.71% | 75.21% | 56.32% | 20.17% | 16.35% | 11.7% | 8.82% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 450K | 3.81M | 1.23M | 4.55M | 3.8M | 4.6M | 3.3M | 2.6M |
| Operating Income | -10.64M | -9.16M | -8.45M | -12.05M | -16.28M | -19.5M | -6.52M | 4.51M | 2.48M | -749K | -1.41M | -1.14M | -221K | 754K | -130K | -749K | 220K | 250K | -746K | -2.4M | -3M | -3.41M | -4.59M | -9.79M | -22.77M | -43.29M | -43.45M | -13.1M | -23.1M | -9.6M | 17M |
| Operating Margin % | -171.4% | -129.16% | -146.35% | -214.69% | -216.27% | -268.01% | -98.55% | 33.04% | 24.09% | -10.92% | -23.06% | -16.74% | -3.06% | 9.84% | -1.94% | -14.01% | 3.94% | 5.08% | -18.02% | -68.4% | -57.31% | -56.99% | -76.24% | -151.16% | -290.69% | -259.46% | -187.21% | -22.59% | -30.97% | -10.4% | 14.42% |
| Operating Income Growth % | - | -8.5% | 29.89% | 26.02% | 16.51% | -198.99% | -244.73% | 82.03% | 430.57% | 46.77% | -23.2% | -416.74% | -129.31% | 680% | 82.64% | -440.45% | -12% | 133.51% | 68.93% | 20.07% | 11.83% | 25.76% | 53.14% | 57% | 47.4% | 0.37% | -231.69% | 43.29% | -140.63% | -156.47% | -19.81% |
| EBITDA | -9.83M | -9.16M | -6.8M | -10.39M | -14.67M | -18.72M | -6.29M | 4.92M | 2.61M | -543K | -1.11M | -837K | 15K | 901K | 25K | -640K | 296K | 331K | -696K | -2.35M | -2.91M | -3.22M | -4.39M | -8.39M | -19.82M | -38.92M | -38.9M | -9.3M | -18.5M | -6.3M | 19.6M |
| EBITDA Margin % | -158.25% | -129.16% | -117.8% | -185.12% | -194.86% | -257.29% | -95.06% | 36.08% | 25.39% | -7.91% | -18.24% | -12.27% | 0.21% | 11.76% | 0.37% | -11.97% | 5.3% | 6.73% | -16.81% | -66.81% | -55.46% | -53.9% | -72.9% | -129.55% | -252.97% | -233.28% | -167.59% | -16.03% | -24.8% | -6.83% | 16.62% |
| EBITDA Growth % | -56.14% | -34.8% | 34.55% | 29.2% | 21.64% | -197.57% | -227.81% | 88.69% | 580.48% | 51.21% | -32.97% | -5680% | -98.34% | 3504% | 103.91% | -316.22% | -10.57% | 147.56% | 70.32% | 19.33% | 9.78% | 26.57% | 47.71% | 57.65% | 49.08% | -0.06% | -318.25% | 49.73% | -193.65% | -132.14% | -15.88% |
| D&A (Non-Cash Add-back) | 816K | 0 | 1.65M | 1.66M | 1.61M | 780K | 231K | 416K | 133K | 206K | 294K | 305K | 236K | 147K | 155K | 109K | 76K | 81K | 50K | 56K | 97K | 185K | 201K | 1.4M | 2.96M | 4.37M | 4.55M | 3.8M | 4.6M | 3.3M | 2.6M |
| EBIT | -10.52M | -9.16M | -7.79M | -12M | -13.87M | -18.78M | -6.51M | 4.51M | 2.48M | -749K | -1.41M | -1.14M | -221K | 754K | -130K | -749K | 267K | 250K | -746K | -2.4M | -2.99M | -3.41M | -4.32M | -9.32M | -22.57M | -38.62M | -43.45M | -19.3M | -20.7M | -9.6M | 17M |
| Net Interest Income | -41K | -81K | 662K | -1.84M | -331K | 701K | 5K | -42K | -189K | -209K | -145K | -107K | -107K | -131K | -116K | -66K | -41K | -64K | -62K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 990K | 43K | 2.03M | 722K | 11K | 4K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 41K | 81K | 328K | 1.89M | 2.36M | 21K | 6K | 46K | 189K | 209K | 145K | 107K | 107K | 131K | 116K | 66K | 41K | 64K | 62K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 119K | 105K | 656K | -1.84M | 54K | 701K | 5K | -42K | -189K | 719K | -145K | -107K | -53K | -131K | -116K | -184K | 6K | -64K | -62K | 6K | -30K | 86K | -212K | 0 | -608K | 1.8M | 69.64M | 0 | -800K | 1.7M | 900K |
| Pretax Income | -10.52M | -9.06M | -7.79M | -13.89M | -16.23M | -18.8M | -6.52M | 4.46M | 2.29M | -30K | -1.55M | -1.25M | -274K | 623K | -246K | -933K | 226K | 186K | -808K | -2.4M | -3.02M | -3.32M | -4.53M | -9.6M | -22.43M | -41.49M | 26.18M | 0 | -30.1M | -7.9M | 17.9M |
| Pretax Margin % | -169.48% | -127.68% | -134.99% | -247.57% | -215.55% | -258.38% | -98.47% | 32.73% | 22.26% | -0.44% | -25.43% | -18.3% | -3.8% | 8.13% | -3.67% | -17.45% | 4.04% | 3.78% | -19.52% | -68.23% | -57.69% | -55.55% | -75.23% | -148.19% | -286.3% | -248.68% | 112.81% | - | -40.35% | -8.56% | 15.18% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.13M | 280K | -608K | -1.88M | 2M | -1.1M | -4.3M | -3M | 6.8M |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -24.96% | -2.92% | 2.71% | 4.52% | 7.63% | - | 14.29% | 37.97% | 37.99% |
| Net Income | -10.52M | -9.06M | -7.79M | -13.89M | -16.23M | -18.8M | -6.52M | 4.46M | 2.29M | -30K | -1.55M | -1.25M | -274K | 623K | -246K | -933K | 226K | 186K | -808K | -2.4M | -3.02M | -3.32M | -4.53M | -9.6M | -21.28M | -45.78M | 23.21M | -12M | -25.8M | -4.9M | 11.1M |
| Net Margin % | -169.48% | -127.68% | -134.99% | -247.57% | -215.55% | -258.38% | -98.47% | 32.73% | 22.26% | -0.44% | -25.43% | -18.3% | -3.8% | 8.13% | -3.67% | -17.45% | 4.04% | 3.78% | -19.52% | -68.23% | -57.69% | -55.55% | -75.23% | -148.19% | -271.6% | -274.38% | 100% | -20.69% | -34.58% | -5.31% | 9.41% |
| Net Income Growth % | -28.77% | -16.29% | 43.92% | 14.41% | 13.68% | -188.46% | -245.98% | 95.23% | 7723.33% | 98.07% | -24.26% | -355.84% | -143.98% | 353.25% | 73.63% | -512.83% | 21.51% | 123.02% | 66.26% | 20.8% | 8.94% | 26.66% | 52.83% | 54.88% | 53.52% | -297.23% | 293.43% | 53.49% | -426.53% | -144.14% | -18.98% |
| Net Income (Continuing) | -10.52M | -9.06M | -7.79M | -13.89M | -16.23M | -18.8M | -6.52M | 4.46M | 2.29M | -30K | -1.55M | -1.25M | -274K | 623K | -246K | -933K | 226K | 186K | -808K | -2.4M | -3.02M | -3.32M | -4.53M | -9.6M | -21.82M | -39.62M | 24.18M | -18.2M | -18.4M | -4.9M | 11.1M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.52 | -0.46 | -1.48 | -1.15 | -1.20 | -0.98 | -9.00 | 0.29 | 0.15 | -0.00 | -0.12 | -0.10 | -0.02 | 0.04 | -0.02 | -0.08 | 0.02 | 0.01 | -0.07 | -0.24 | -0.43 | -0.52 | -0.87 | -1.86 | -4.12 | -8.90 | 4.52 | -2.59 | -6.00 | -1.19 | 2.64 |
| EPS Growth % | 64.14% | 68.92% | -28.7% | 4.17% | -22.45% | 89.11% | -3203.45% | 93.33% | - | 98.08% | -21.09% | -348.42% | -150.69% | 313.73% | 74.05% | -585.19% | 12.5% | 120.75% | 71.08% | 44.19% | 17.31% | 40.23% | 53.23% | 54.85% | 53.71% | -296.9% | 274.52% | 56.83% | -404.2% | -145.08% | -18.52% |
| EPS (Basic) | - | -0.46 | -1.48 | -1.15 | -1.20 | -0.98 | -9.00 | 0.33 | 0.15 | -0.00 | -0.12 | -0.10 | -0.02 | 0.04 | -0.02 | -0.08 | 0.02 | 0.02 | -0.07 | -0.24 | -0.43 | -0.52 | -0.87 | -1.86 | -4.12 | -8.90 | 4.72 | -2.59 | -6.00 | -1.19 | 2.72 |
| Diluted Shares Outstanding | 20.27M | 19.8M | 5.28M | 12.08M | 12.08M | 18.4M | 733.9K | 15.38M | 15.06M | 12.79M | 12.74M | 12.6M | 12.39M | 14.29M | 12.04M | 11.88M | 13.94M | 12.87M | 11.64M | 9.93M | 7.04M | 6.42M | 5.18M | 5.16M | 5.16M | 5.14M | 5.12M | 4.64M | 4.3M | 4.11M | 4.2M |
| Basic Shares Outstanding | 20.27M | 19.8M | 5.28M | 12.08M | 12.08M | 18.39M | 733.9K | 13.53M | 15.06M | 12.79M | 12.74M | 12.6M | 12.39M | 12.17M | 12.04M | 11.88M | 11.74M | 11.68M | 11.64M | 9.93M | 7.04M | 6.42M | 5.18M | 5.16M | 5.16M | 5.14M | 4.91M | 4.64M | 4.3M | 4.11M | 4.08M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | 2.06% | - | - | - | - | 4.82% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Liquidity and capital exhaustion
According to the most recent quarterly data, Intrusion Inc. experienced a sharp 50% revenue contraction in 2026Q1, signaling a reversal from the modest growth observed in previous periods and highlighting the volatility inherent in its transition toward a recurring SaaS-based revenue model.
The erratic revenue performance suggests that the company's pivot to the Shield product has yet to provide a stable foundation for top-line expansion. Investors should monitor whether this decline reflects a structural loss of legacy government contracts or merely the lumpy nature of project-based forensic revenue recognition.
As reported in financial statements, the company maintains a relatively robust gross margin profile, averaging approximately 75% over the last ten quarters, which indicates that the core software offerings retain significant pricing power despite the firm's inability to achieve operational profitability at the current scale.
While the gross margin remains structurally sound, it is insufficient to offset the heavy R&D and SG&A expenditures required to support the Shield platform. This disparity suggests that the company is currently trapped in a high-fixed-cost environment where gross profit generation is decoupled from bottom-line viability.
Based on the provided income statement data, Intrusion Inc. continues to exhibit deep operating losses, with operating margins frequently exceeding -100%, demonstrating that the company has failed to achieve the necessary scale to leverage its fixed cost base against its current revenue volume.
The persistent gap between gross profit and operating income suggests that SG&A and R&D costs are scaling linearly rather than efficiently. This lack of operating leverage implies that the company may require a substantial and sustained increase in revenue to reach a break-even point, which appears unlikely under current conditions.
Analysis of the reported figures reveals that net income is consistently negative, with stock-based compensation adding further complexity to the expense structure, suggesting that the company's path to positive earnings is currently obscured by high operational overhead and a lack of non-operating income sources.
The reliance on stock-based compensation during periods of significant net losses warrants further investigation into the dilution risk for existing shareholders. The absence of meaningful non-operating income further highlights the company's total dependence on its core operations, which are currently failing to generate positive cash flow.
Based on the reported figures, the company's persistent cash burn and declining revenue trajectory raise significant questions regarding the viability of the current business model, suggesting that the firm may face an imminent liquidity crisis without a successful capital raise or a rapid pivot to profitability.
Short-sellers would likely focus on the widening gap between the company's high-level software ambitions and its deteriorating financial reality. The reliance on government contracts, while historically stable, may not be sufficient to bridge the gap created by the high costs of the Shield product launch.
Quick answers to the most common questions about buying INTZ stock.
For fiscal year 2025, Intrusion Inc. (INTZ) reported total revenue of $7.1M. This represents a 94.0% decline compared to $117.9M in 1996.
Intrusion Inc. (INTZ) reported a net loss of $9.1M for the fiscal year ending 2025.
Intrusion Inc. (INTZ) reported an operating income of $-9.2M, resulting in an operating profit margin of -129.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Intrusion Inc. (INTZ) generated $5.4M in gross profit for the year, representing a gross profit margin of 75.8%. This demonstrates the company's core pricing power and production efficiency.