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New words:
announced, arose, assert, asserted, ATM, begun, bid, blanket, commence, Commencing, compounded, Compromise, consecutive, contractor, CTO, cure, curtailment, delist, delisted, delisting, departmental, diminished, dividend, duration, earliest, entitled, escalate, ESPP, essentially, exemption, fallen, fifty, Forbearance, freely, frequency, grow, herewith, importance, inclusive, inducement, ineffective, knowledge, letter, lifecycle, low, messaging, negligible, notably, notified, notifying, opportunity, outsourced, overseeing, Panel, par, Partitioned, path, paydown, pertaining, playing, Poor, Prawatt, principle, procurement, proof, quoted, recompete, reconciliation, reconciling, rescheduled, respectfully, retroactively, sequentially, split, stability, Standstill, Stipulation, straight, styled, suspension, temporarily, tenant, thirty, tradable, Trellix, unemployment, Utah, VP, Wellington
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allocate, appointment, bank, billed, borrow, budgetary, charged, CliftonLarsonAllen, conflict, customary, diversion, DoD, doubtful, efficiency, enactment, excluding, forced, guaranteed, handling, holding, member, NetScout, Niksun, noncash, Paxton, payroll, PPP, preceding, qualifying, SBA, shifting, shipping, Silicon, sublease, team, terminate, type, Valley, voting, workmanship
Financial report summary
?Management Discussion
- Total revenue decreased $1.9 million or 25.5% to $5.6 million in 2023 from $7.5 million in 2022. Consulting revenues decreased $2.3 million primarily resulting from the loss of a contract in the fourth quarter 2022 in which Intrusion’s prime sponsor chose not to renew the final option year of a contract that had been in place since 2018. This contract represented annual revenue totaling $2.6 million. While the loss of this contract significantly impacted Intrusion’s top-line revenue, the gross margin on this contract was 14% and, as a result, had a marginal impact on profitability. We are continuing to pursue new consulting opportunities and expect to see an increase in consulting revenues in 2024. The decline in consulting revenues was partially offset by an increase of $0.4 million in Shield revenues as a result of the expanded use of Shield from existing customers and new customers signed in 2023.