Connect with us
Prague Gaming & TECH Summit 2024

Artificial Intelligence

INTRUSION Reports Second Quarter 2021 Results

Published

on

PLANO, Texas, Aug. 12, 2021 (GLOBE NEWSWIRE) — INTRUSION, Inc. (NASDAQ: INTZ), a provider of cyberattack prevention solutions including zero-days, announced today financial results for the second quarter ended June 30, 2021.

Revenue for the second quarter 2021 was $2.0 million, compared to $1.9 million for the first quarter 2021 and $1.7 million for the second quarter 2020.
  
Gross profit margin was 63% of revenue in the second quarter 2021, compared to 66% for the first quarter 2021 and 61% for the second quarter 2020.

Operating expenses in the second quarter 2021 were $6.9 million, compared to $5.1 million for the first quarter 2021 and $1.7 million for the second quarter 2020.

The second quarter 2021 net loss was $5.0 million, or ($0.28) per share, compared to a net loss of $3.9 million, or ($0.22) per share, for the first quarter 2021 and a net loss of $0.7 million, or ($0.05) per share, for the second quarter 2020.

As of June 30, 2021, cash and cash equivalents were $9.3 million and working capital was $7.3 million.

Conference Call
INTRUSION’s management will host a conference call today at 4:00 P.M., CST. Interested investors can access the live call by dialing 1-833-366-0416, or 1-236-712-2506 for international callers, and providing the following access code: 5994378. For those unable to participate in the live conference call, a replay will be accessible beginning tonight at 7:00 P.M. CST until August 19, 2021 by dialing 1-800-585-8367, or 1-416-621-4642 for international callers, and entering the following access code: 5994378. Additionally, a live and archived audio webcast of the conference call will be available at www.intrusion.com.

About INTRUSION, Inc.
INTRUSION, Inc. (NASDAQ: INTZ) protects any-sized company by leveraging advanced threat intelligence with real-time artificial intelligence to kill cyberattacks as they occur – including zero-days. INTRUSION’s solution families include INTRUSION Shield, an advanced cyber-defense solution that kills cyberattacks in real-time using artificial intelligence (AI) and advanced cloud threat intelligence; INTRUSION TraceCop™ for identity discovery and disclosure; and INTRUSION Savant™ for network data mining and advanced persistent threat detection. For more information, please visit www.intrusion.com.

Cautionary Statement Regarding Forward Looking Information
This release may contain certain forward-looking statements, including, without limitations, statements about the performance of protections provided by our Shield products, the effect of the recent additions to our board and executive management team, the anticipated recovery of our governmental customers and an expanded need for them and an increasing customer base to address cybersecurity risks, leading to expected growth in our sales performance for this year, as well as any other statements which reflect management’s expectations regarding future events and operating performance. These forward-looking statements speak only as of the date hereof and involve a number of risks and uncertainties, including, the risk that the Company does not benefit as anticipated from sales of our current solutions, including the INTRUSION Shield solution, the performance of our expanded management team, and that customers will address and mitigate their perceived cybersecurity risks through the purchase of our products and solutions. 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.”

Investor Relations Contact
Joel Achramowicz
[email protected]
P: (415) 845-9964

        

INTRUSION INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands except par value amounts)

    June 30,
2021
    December 31,
2020
 
ASSETS                
Current Assets:                
Cash and cash equivalents   $ 9,337     $ 16,704  
Accounts receivable     1,668       1,233  
Prepaid expenses     445       370  
Other current assets     16        
Total current assets     11,466       18,307  
Non-Current Assets:                
Property and Equipment:                
Equipment     2,259       1,453  
Furniture and fixtures     43       43  
Leasehold improvements     67       67  
      2,369       1,563  
Accumulated depreciation and amortization     (1,281 )     (1,097 )
Property and equipment, net     1,088       466  
Finance leases, right-of-use assets, net     200       20  
Operating leases, right-of-use assets, net     920       1,010  
Other assets     169       79  
Total non-current assets     2,377       1,575  
TOTAL ASSETS   $ 13,843     $ 19,882  
                 
LIABILITIES AND STOCKHOLDERS’ EQUITY                
                 
Current Liabilities:                
Accounts payable, trade   $ 1,361     $ 408  
Accrued expenses     854       628  
Finance leases liabilities, current portion     71       21  
Operating leases liabilities, current portion     709       487  
PPP loan payable, current portion           421  
Deferred revenue     1,170       177  
Total current liabilities     4,165       2,142  
                 
Non-Current Liabilities:                
PPP loan payable, noncurrent portion           212  
Finance lease liabilities, noncurrent portion     93        
Operating leases liability, noncurrent portion     1,600       1,867  
Total non-current liabilities     1,693       2,079  
                 
Commitments and contingencies                
                 
Stockholders’ equity:                
Common stock, $0.01 par value:                
Authorized shares — 80,000                
Issued shares — 17,631 in 2021 and 17,428 in 2020                
Outstanding shares — 17,621 in 2021 and 17,418 in 2020     176       174  
Common stock held in treasury, at cost – 10 shares     (362 )     (362 )
Additional paid-in capital     78,363       77,187  
Accumulated deficit     (70,149 )     (61,295 )
Accumulated other comprehensive loss     (43 )     (43 )
Total stockholders’ equity     7,985       15,661  
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 13,843     $ 19,882  

        

INTRUSION INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands except per share amounts)

    Three Months Ended     Six Months Ended  
    June 30, 2021     June 30, 2020     June 30, 2021     June 30, 2020  
Revenue   $ 1,960     $ 1,655       $ 3,812     $ 3,450    
Cost of revenue     733       651         1,358       1,398    
                                 
Gross profit     1,227       1,004         2,454       2,052    
                                 
Operating expenses:                                
Sales and marketing     3,652       485         6,341       995    
Research and development     1,530       907         2,999       1,660    
General and administrative     1,696       326         2,668       582    
                                 
Operating loss     (5,651 )     (714 )       (9,554 )     (1,185 )  
                                 
Interest and other income     66       1         68       7    
Interest expense     (1 )     (2 )       (3 )     (2 )  
Gain on the extinguishment of debt     635               635          
                                 
Net loss   $ (4,951 )   $ (715 )     $ (8,854 )   $ (1,180 )  
                                 
Preferred stock dividends accrued           (33 )             (66 )  
Net loss attributable to common stockholders   $ (4,951 )   $ (748 )     $ (8,854 )   $ (1,246  
                                 
Net loss per share attributable to common stockholders:                                
Basic   $ (0.28 )   $ (0.05 )     $ (0.50 )   $ (0.09 )  
Diluted   $ (0.28 )   $ (0.05 )     $ (0.50 )   $ (0.09 )  
                                 
Weighted average common shares outstanding:                                
Basic     17,620       13,784         17,581       13,743    
Diluted     17,620       13,784         17,581       13,743    

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Invoca Wins CX Today Award for Best Conversational Intelligence Solution of 2024; Launches European Data Centre and Adds UK Sales Leader

Published

on

invoca-wins-cx-today-award-for-best-conversational-intelligence-solution-of-2024;-launches-european-data-centre-and-adds-uk-sales-leader

CX Today recognises Invoca as the foremost visionary in the Conversational Intelligence category. Additionally, expands its European presence with a new Data Centre and the appointment of Duncan MacPherson as UK Director of Sales.
LONDON, March 28, 2024 /PRNewswire/ — Invoca, the leading revenue execution platform for revenue teams, has won the CX Today Award for ‘Best Conversational Intelligence Solution’ of 2024. CX Today, the leading international news publication honouring excellence in CX technology, hosted the CX Awards to honour excellence in CX leadership, technology innovation, and industry success.

“Invoca’s exceptional work in conversational intelligence has helped push the category forward, and we are thrilled to see their accomplishments acknowledged at CX Awards 2024,” said Charlie Mitchell, Senior Editor at CX Today and host of the awards.
The award recognises Invoca’s strength in empowering revenue teams across marketing, contact centre sales, and customer experience to enhance buying experiences, increase high-value leads, and boost revenue. For businesses that acquire customers over the phone, Invoca enables these digital marketing and contact centre teams to collaborate to drive revenue growth. Invoca stands out for capturing deep insights from consumer calls and digital interactions and ingesting revenue driven by calls and other metadata from CRM and contact centre solutions, making Invoca the source of truth for consumer engagements.
“We’re thrilled to be named the Best Conversational Intelligence Solution of 2024 by CX Today as we highlight our longstanding vision to help brands acquire customers and grow their revenue,” said Gregg Johnson, CEO of Invoca. “As AI pioneers in this space, having first introduced our broad base of patented AI technologies in 2015, artificial intelligence and machine learning are core to helping companies improve the customer experience and connect the buyer journey.”
The CX Awards’ judging panel, including Dan Miller, Lead Analyst at Opus Research, reviewed hundreds of applications for their organisation’s ability to improve overall customer experience through innovation and high-impact features.
“Invoca continues to demonstrate that they are a clear leader in conversational intelligence AI. We recognised Invoca for their ability to employ a sophisticated blend of AI technologies — including patented machine learning, generative AI, voice biometrics, and deep learning neural networks, to drive revenue,” said Dan Miller, CX Awards judge and Lead Analyst at Opus Research.
Invoca Launches New European Platform and Data Centre Amid U.K. Sales Leadership Expansion
Invoca continues to reinforce its commitment to maintaining data excellence with unwavering reliability and strict adherence to security standards. Protecting customer data privacy remains a top priority, particularly given the heightened concerns surrounding security and privacy. Invoca’s new European platform and localised data centres support its growing customer base by ensuring all customers can adhere to the highest level of enterprise-grade data privacy, and GDPR compliance standards. Invoca’s powerful EU-based infrastructure enables its customers to recreate the same Invoca experience using the full feature suite while maintaining the highest standards of quality.
Invoca has also welcomed Duncan MacPherson as UK Director of Sales. MacPherson brings extensive experience with large companies and start-ups selling customer engagement solutions. This is part of an overall expansion in the UK market, which includes hiring a localised sales and customer success team, sales development, and marketing support.
More Information:
See the results you can get with Invoca’s award-winning conversation intelligence: https://www.invoca.com/customersInvoca’s GDPR Compliance: Everything You Need to Know: https://www.invoca.com/blog/invocas-gdpr-compliance-everything-you-need-to-knowWatch the CX Today Awards winners revealed on demand: www.cxtoday.com/cxawardsJoin Invoca’s talented team today: https://www.invoca.com/company/careersAbout InvocaInvoca is a revenue execution platform that connects marketing and sales teams to help them track and optimise the buying journey to drive more revenue. By using a comprehensive revenue execution platform with deep integrations with leading technology platforms, revenue teams can better connect their paid media investments directly to revenue, improve digital engagement, and deliver the best buyer experiences to drive more sales. With Invoca, top consumer brands, including AutoNation, DIRECTV, Mayo Clinic, Mutual of Omaha, and Verizon, experience unbelievable results powered by undeniable data. Invoca has raised $184M from leading venture capitalists, including Upfront Ventures, Accel, Silver Lake Waterman, H.I.G. Growth Partners, and Salesforce Ventures. For more information, visit www.invoca.com.
About CX AwardsHosted by CX Today, the awards ceremony has become the beacon of recognition for companies and professionals pushing the envelope in the CX technology sphere.
The CX Awards 2024 is here for its fourth year and is bigger and better than ever before! Winners of the 2023 awards included Vonage, Calabrio, and UJET and more. Then, the ceremony included exclusive streams from our people winners, Jay Patel from Webex and Kimberley Wood from Ultimate. Yet, this year’s event featured many more CX leaders who shared their unique takes on the space.
Photo – https://mma.prnewswire.com/media/2373968/Invoca___CXToday___PR_Newswire_Image___2700x1080___v_1.jpg

View original content:https://www.prnewswire.co.uk/news-releases/invoca-wins-cx-today-award-for-best-conversational-intelligence-solution-of-2024-launches-european-data-centre-and-adds-uk-sales-leader-302102358.html

Continue Reading

Artificial Intelligence

ASC Achieves Certification for Webex Calling

Published

on

asc-achieves-certification-for-webex-calling

ASC announces compliance recording and AI-driven analytics tool for Webex Calling
HÖSBACH, Germany, March 28, 2024 /PRNewswire/ — ASC Technologies, a leading provider of comprehensive recording and analytics tools, announces its successful certification for Webex Calling with Webex by Cisco, a leading provider of collaboration technologies powering hybrid work and customer experience. This certification distinguishes ASC as one of the few global vendors who are authorized to provide record capabilities for Webex Calling communications. This capability is essential for organizations in regulated industries that must adhere to strict compliance standards.

A key benefit of the ASC solution is the simple and fast configuration in the Webex Control Hub, which ensures a high level of user-friendliness. In addition, ASC enables the migration of on-premise solutions to the cloud by seamlessly transferring recordings to the cloud environment. This step enables organizations to accelerate their digital transformation and take advantage of cloud-based services. In addition, AI-driven analytics, powered by ASC’s solutions, help organizations gain a comprehensive view of their communications, enrich customer relationships, and streamline compliance and risk management processes.
“As a stable company that has been established in the market for 60 years, we see the certification for Webex Calling not only as a confirmation of our technological expertise, but also as a promise to our customers and partners,” says Dr. Gerald Kromer, CEO of ASC. “We are committed to providing innovative and reliable solutions that meet the demands of today’s communications technologies while ensuring our customers’ compliance requirements.”
This certification is a further milestone in ASC’s successful partnership with Cisco, which has already existed for 20 years. ASC will be exhibiting at Enterprise Connect in Gaylord Palms, and Cisco Live in Las Vegas, showcasing its innovative recording and analytics solutions and demonstrating the results of its collaboration with Cisco. These events offer a glimpse into how ASC’s solutions drive efficiency and insight.
About ASC
ASC is a worldwide leading provider of software and cloud solutions in the field of omni-channel recording, quality management, and analytics. Among our target groups are all companies that record their communications, especially financial service providers, contact centers, and public safety organizations. We offer solutions for recording as well as AI-based analysis and evaluation of all communications – with full flexibility as a cloud service, on-premise or as a hybrid solution. Headquartered in Germany with subsidiaries in 14 countries and experienced system integration partners in over 60 countries, ASC is the #1 Europe-based player in its industry.
About Webex by Cisco
Webex is a leading provider of cloud-based collaboration solutions which includes video meetings, calling, messaging, events, customer experience solutions like contact center and purpose-built collaboration devices. At Webex, we start with people and their experiences first. This focus on delivering inclusive collaboration experiences fuels our innovation, which leverages AI and Machine Learning, to remove the barriers of geography, language, personality, and familiarity with technology. Our solutions are underpinned with security and privacy by design. We work with the world’s leading business and productivity apps – delivered through a single application and interface. Learn more at webex.com.
Logo: https://mma.prnewswire.com/media/2003160/ASC_Logo.jpg
 

View original content:https://www.prnewswire.co.uk/news-releases/asc-achieves-certification-for-webex-calling-302102352.html

Continue Reading

Artificial Intelligence

WSPN and MathWallet Jointly Launch StableWallet, Pioneering AA Wallet for Web3

Published

on

wspn-and-mathwallet-jointly-launch-stablewallet,-pioneering-aa-wallet-for-web3

TORTOLA, British Virgin Islands, March 28, 2024 /PRNewswire/ — WSPN, a global digital payments leader providing transparent, fast, and efficient solutions leveraging distributed ledger technology, has partnered with leading Web3 wallet provider MathWallet to launch StableWallet – a groundbreaking new account abstraction (AA) wallet that represents a major advancement in the Web3 space. StableWallet provides enhanced security, convenience, and flexibility for managing digital assets across multiple blockchains.

“Through our partnership with MathWallet, we are proud to introduce StableWallet, leveraging pioneering AA technology to transform digital asset management,” said Raymond Yuan, Founder of WSPN. “StableWallet exemplifies our commitment to driving innovation in digital payments and the Web3 ecosystem.”
Account abstraction (AA) wallets represent a significant leap forward in the Web3 ecosystem, blurring the lines between traditional private key wallets and smart contract-based accounts. By integrating both functionalities, AA wallets enable users to define their wallets through programmable smart contracts, unlocking a realm of advanced features and customization options.
Leveraging the transformative power of Account Abstraction, StableWallet stands at the forefront of security innovation, offering unmatched protection through advanced programmable recovery mechanisms and robust multi-signature controls. Seamlessly blending security with convenience, StableWallet ensures a user-centric experience by automating gas fees, simplifying transactions, and providing limitless customization possibilities through deep integration of programmable smart contracts.
Beyond its pioneering security measures, StableWallet serves as a pivotal link between the Ethereum and Polygon ecosystems, facilitating effortless asset management across diverse chains through a unified cross-chain interface. At its debut, StableWallet boasts essential features such as native support for Ethereum and Polygon networks, flexibility in fee token options with WUSD and USDT, and the capacity for multi-chain crypto smart contract wallet functionalities.
“We are thrilled to partner with WSPN and jointly unveil StableWallet’s powerful capabilities,” said Eric, CTO of MathWallet. “By combining cutting-edge account abstraction technology with robust security features and cross-chain compatibility, StableWallet empowers users to explore the decentralized realm with unparalleled confidence.”
Looking ahead, StableWallet has an ambitious roadmap to roll out new capabilities that will further elevate the user experience. Upcoming features include daily free transfers, batch transactions with one-click execution, enterprise multi-signature smart wallets, and integration with collaboration platforms, etc. These additions, among others, will continuously expand StableWallet’s functionality to meet evolving user needs in the Web3 space.
Whether for a seasoned cryptocurrency enthusiast or a beginner to the blockchain world, StableWallet offers a powerful tool to revolutionize user experience of digital asset management. Stay tuned for upcoming feature releases and network expansions as WSPN and MathWallet continue to push the boundaries of Web3 technology.
About WSPN
WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.
Worldwide USD (‘WUSD’), WSPN’s flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.
Learn more: www.wspn.io  | Twitter | LinkedIn 
About MathWallet
MathWallet is the Multichain Wallet for Web3 that enables token storage of over 150 chains including BTC, ETH, Polkadot, Cosmos, Filecoin, Solana, BNBChain, etc, supports cross-chain token bridges and multi-chain dApp store. Our investors include Fenbushi Capital, Binance Labs, Fundamental Labs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.
Visit mathwallet.org for more information.
Photo – https://mma.prnewswire.com/media/2373177/WSPN.jpg Logo – https://mma.prnewswire.com/media/2374095/4619577/Logo_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/wspn-and-mathwallet-jointly-launch-stablewallet-pioneering-aa-wallet-for-web3-302102350.html

Continue Reading

Trending