Customer concentration
Three customers accounted for most revenue in recent quarters, so the loss or delay of one contract can materially reduce sales.
- Scope
- U.S. government entities and a small number of commercial accounts
- Materiality
- high
Intrusion Inc
Intrusion Inc. develops network security products and consulting services built around its proprietary threat-intelligence database of IP addresses and domain names. The company sells its legacy government-focused TraceCop and Savant solutions and its commercial INTRUSION Shield product, which is designed to block malicious or unknown network connections using a Zero Trust, reputation-based approach.
−105,5 %
76,7 %
−129,1 %
+21,6 %
2.37
2.37
| % | |
|---|---|
| Cybersecurity software | 25% INTRUSION Shield and related security software that blocks malicious network traffic. |
| Government security solutions | 20% TraceCop and Savant offerings sold primarily to U.S. government entities. |
| Consulting services | 55% Contract-based services performed mainly for U.S. government customers, including DoD work. |
The company’s customer base is dominated by U.S. government entities, especially federal agencies and the Department of...
- U.S. government entitiesprimary
Federal agencies and other government buyers purchase consulting and security solutions, mainly because the company has long-standing government relationships and contract vehicles.
- Department of Defenseprimary
DoD contract work and extensions contribute meaningful consulting revenue and have recently helped backfill lost Shield revenue.
- Commercial enterprisessecondary
Businesses buy INTRUSION Shield to add Zero Trust, reputation-based blocking to existing infrastructure and defend against ransomware and zero-day attacks.
- Legacy government product userssecondary
Customers using TraceCop and Savant rely on the company’s threat-intelligence database for government security use cases.
The business is overwhelmingly U.S.-based, with revenue tied to U.S. government procurement and domestic commercial...
- •Revenue is concentrated in the United States
- •U.S. federal budget timing affects contract renewals and task orders
- •DoD contract activity is a major operating driver
- •No meaningful international revenue disclosure was provided
- •Domestic customer concentration increases exposure to U.S. procurement cycles
Management is focused on rebuilding and expanding Shield revenue while maintaining its government consulting base...
01
Expand INTRUSION Shield adoptionshort-term
Shield is the main commercial growth lever and can diversify revenue away from government concentration.
02
Deepen U.S. government and DoD relationshipsshort-term
Government contracts currently drive most revenue and provide the largest near-term opportunity pool.
03
Improve liquidity and operating runwayshort-term
The company has ongoing losses and depends on external financing to fund software development and operations.
Intrusion’s revenue is highly concentrated in a small number of U.S. government customers, so contract timing,...
Government procurement and budget timing
Revenue depends on federal appropriations, renewals, and task orders, which can be delayed by continuing resolutions or budget uncertainty.
- Scope
- Consulting services and government security contracts
- Materiality
- high
Liquidity and financing dependence
The company has recurring net losses and has funded operations through stock sales and offerings.
- Scope
- Operating runway and product development
- Materiality
- high
Commercial product adoption risk
Shield must continue replacing lost revenue and win new customers to become a stable growth engine.
- Scope
- INTRUSION Shield
- Materiality
- medium
Revenue recognition and contract timing
Revenue and gross margin volatility
Capitalized internal software development
Operating cash flow and asset balances
Equity financing and stock subscription receivables
Liquidity, dilution, and financing cash flow
Product mix and gross margin
Gross margin and operating leverage
: 28.4.2026