IRNT - IronNet: Looking Behind The Meme Scheme

• Entangled in the meme scheme since it went public through a SPAC and identified by a red warning signal on SA, IronNet looks like a stock to avoid, unless you are a trader.
• This remains a genuine cybersecurity play using behavioral analytics for advanced threat detection, with clients coming both from governments and the private sector.
• The company has a differentiated product offering and has won numerous awards, but quarterly revenues have not reflected its superiority.
• It exhibits an operating loss, but gross margins remain strong and there is cash to meet going concern requirements.
• Given the stock's volatile path, it would be better to wait for a concrete update as to the sales metrics in Q3-2022's financial results before buying the stock.

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