Intrusion Inc (NASDAQ:INTZ) shares are trading higher by 40% to $0.49 Tuesday afternoon after the company was awarded a $5 million multi-year shield agreement with a telecommunications provider.
The company says this deal involves a phased rollout of Intrusion Shield starting in fourth-quarter 2023, following a successful pilot initiated in first-quarter 2023. The five-year agreement allows for potential expansion and additional revenue opportunities beyond the initial projects. During third-quarter 2023, Intrusion also signed four other contracts expected to grow over time.
CEO Tony Scott expressed excitement about this agreement, highlighting the importance of protecting critical infrastructure from cyber threats and signaling success in their go-to-market strategy with partners. More details will be provided once the implementation details are finalized.
According to data from Benzinga Pro, INTZ has a 52-week high of $5.77 and a 52-week low of $0.27.
