Why IronNet Shares Are Falling

IronNet Inc IRNT shares are trading lower after the company reported third-quarter sales results were lower year-over-year. IronNet reported $6.91 million in sales this quarter. This is a 1% decrease over sales of $7 million in the same period last year.

William Welch, co-CEO of IronNet, commented: "We have taken steps to drive improved predictability in our business, including increased emphasis on cloud deployments to expedite time to value for customers. As we continue to aggressively pursue the network detection and response market, our technology continues to distinguish us from other vendors."

"Recent favorable evaluations by highly discriminating IT teams noted that IronNet detected attack behaviors in customer networks and cloud deployed infrastucture with a level of speed and accuracy unmatched by other vendors. This goes beyond the indicators of compromise that many already share, and is a validation of our unique model," Welch added.

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IronNet has a 52-week high of $47.50 and a 52-week low of $4.74.