v3.25.1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current Assets:
Cash and cash equivalents	$ 10,744	$ 4,851
Accounts receivable, net	130	169
Prepaid expenses and other assets	1,202	514
Total current assets	12,076	5,534
Property and equipment:
Equipment	2,769	2,690
Capitalized software development	4,319	3,948
Leasehold improvements	18	18
Property and equipment, gross	7,106	6,656
Accumulated depreciation and amortization	(3,175)	(2,809)
Property and equipment, net	3,931	3,847
Finance leases, right-of-use assets, net	319	491
Operating leases, right-of-use assets, net	1,377	1,356
Other assets	279	281
Total noncurrent assets	5,906	5,975
TOTAL ASSETS	17,982	11,509
Current Liabilities:
Accounts payable, trade	1,275	1,508
Accrued expenses	402	291
Finance leases liabilities, current portion	313	405
Operating leases liabilities, current portion	137	209
Notes payable	0	529
Deferred revenue	918	730
Total current liabilities	3,045	3,672
Noncurrent Liabilities:
Finance lease liabilities, noncurrent portion	145	172
Operating lease liabilities, noncurrent portion	1,391	1,414
Total noncurrent liabilities	1,536	1,586
Commitments and Contingencies – (See Note 5)
Stockholders’ Equity:
Preferred stock, $0.01 par value: Authorized shares – 5,000; Issued shares – 0 in 2025 and 4 in 2024	0	3,827
Common stock, $0.01 par value: Authorized shares – 80,000; Issued shares – 19,896 in 2025 and 15,591 in 2024; Outstanding shares – 19,895 in 2025 and 15,590 in 2024	199	156
Common stock held in treasury, at cost – 1 share	(362)	(362)
Additional paid-in capital	133,712	122,552
Stock subscription receivable		(1,872)
Accumulated deficit	(120,105)	(118,007)
Accumulated other comprehensive loss	(43)	(43)
Total stockholders’ equity	13,401	6,251
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 17,982	$ 11,509

Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

INTRUSION INC 10-Q