Genasys (GNSS)

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San Diego County Regional Public Safety Agencies Launch Genasys EVAC for Enhanced Emergency Communication
GlobeNewswire News Room· 2024-05-30 23:36
SAN DIEGO, May 30, 2024 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ:GNSS), the global leader in Protective Communications, is pleased to announce that the San Diego County regional area announced yesterday at a press conference the official launch of Genasys Protect EVAC, a cutting-edge emergency alerting solution that will enable citizens to receive timely updates during emergency situations. With peak fire conditions looming ahead, this region wide collaboration aims to bolster emergency communication effort ...
San Diego County Regional Public Safety Agencies Launch Genasys EVAC for Enhanced Emergency Communication
Newsfilter· 2024-05-30 23:36
SAN DIEGO, May 30, 2024 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ:GNSS), the global leader in Protective Communications, is pleased to announce that the San Diego County regional area announced yesterday at a press conference the official launch of Genasys Protect EVAC, a cutting-edge emergency alerting solution that will enable citizens to receive timely updates during emergency situations. With peak fire conditions looming ahead, this region wide collaboration aims to bolster emergency communication effort ...
VIAVI Introduces Industry-Leading L- and Ku-band, Fully GNSS-Independent UTC Timing Services
prnewswire.com· 2024-05-29 10:30
CHANDLER, Ariz., May 29, 2024 /PRNewswire/ -- Viavi Solutions Inc. (VIAVI) (NASDAQ: VIAV) today launched its altGNSSSM GEO SecureTimeSM services that deliver nanoseconds-accurate UTC timing via L- Band and Ku-Band satellite signals for critical infrastructure including 5G networks, transportation, data centers, smart grid, high-frequency trading, military and first responder communications, and satellite terminals. Operating completely independently of traditional GPS and GNSS, VIAVI's altGNSS GEO service i ...
Genasys to Present at MicroCap Rodeo Conference
Newsfilter· 2024-05-23 12:00
Genasys Inc. (NASDAQ:GNSS) is the global leader in Protective Communications. The Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as the Company's Long Range Acoustic Devices (LRAD®), are designed around one premise: ensuring organizations and public safety agencies are "Ready when it matters™." Protecting people and saving lives for over 40 years, Genasys covers more than 70 Million people in over 100 countries worldwide, inc ...
Genasys Announces Director Resignation Due to New Employment Requirements
globenewswire.com· 2024-05-21 20:30
Core Insights - Genasys Inc. announced the resignation of Scott Anchin from its Board of Directors effective May 31, 2024, due to a new employment agreement with a multinational investment firm [1] - Anchin reflected on his 8 years with Genasys, highlighting the company's evolution from focusing solely on LRADs to developing a SaaS platform and acquiring four companies, positioning the company for significant growth [2] - Genasys has engaged Egon Zehnder to assist in identifying candidates to replace Anchin on the Board [2] Company Overview - Genasys Inc. is a leader in Protective Communications Solutions, providing the Genasys Protect platform and Long Range Acoustic Devices (LRAD) for public safety and emergency management [3] - The company serves various sectors including state and local governments, education, and critical industries such as oil and gas, utilities, and manufacturing, covering over 70 million people in more than 100 countries [3] - Genasys' solutions are utilized for emergency warnings, critical event management, and real-time threat detection, contributing to public safety for over 40 years [3]
Genasys Announces Director Resignation Due to New Employment Requirements
Newsfilter· 2024-05-21 20:30
About Genasys Inc. Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications Solutions and Systems, designed around one premise: ensuring organizations and public safety agencies are "Ready when it matters™." The company provides the Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as Genasys Long Range Acoustic Devices (LRAD®) that deliver directed, audible voice messages with intelligible vocal clarity fro ...
Genasys (GNSS) - 2024 Q2 - Quarterly Report
2024-05-15 17:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 000-24248 GENASYS INC. (Exact name of registrant as specified in its charter) Delaware 87-0361799 (State or other jurisdiction of ...
Genasys Receives $2.7 Million U.S. Navy Order for LRAD Maritime Systems
Newsfilter· 2024-05-15 12:30
Core Insights - Genasys Inc. announced a $2.7 million order for LRAD systems from the U.S. Navy, part of the Navy's initiative to replace first-generation LRADs with upgraded LRAD 1000Xi systems [1][2] Group 1: Company Overview - Genasys Inc. is a leader in Protective Communications Solutions, focusing on ensuring organizations and public safety agencies are "Ready when it matters™" [3] - The company offers the Genasys Protect platform and Long Range Acoustic Devices (LRAD®), which can deliver clear voice messages from close range to 5,500 meters [3] - Genasys serves various sectors, including state and local governments, education, critical industries like oil and gas, and federal governments [3] Group 2: Product and Market Applications - LRAD systems have been utilized by the Navy for over 20 years to enhance over-the-water communications and self-protection [2] - The LRAD 1000Xi system provides audible communications over distances up to 3,000 meters (approximately 1.9 miles), aiding in threat assessment and de-escalation [2] - Genasys' solutions have diverse applications, including emergency warnings, critical event management, and real-time threat detection [3]
Genasys (GNSS) - 2024 Q2 - Earnings Call Transcript
2024-05-14 22:54
Financial Data and Key Metrics Changes - The company reported a total revenue of $5.7 million for the second quarter, a decrease of 49% from the prior year, which included $5.7 million from a completed program [29] - Adjusted EBITDA was negative $5.7 million, compared to negative $2.3 million in the previous year, primarily due to lower hardware revenues [30] - Gross profit margin declined to 38%, a drop of 6 percentage points from the prior year, attributed to reduced hardware revenue [12] Business Line Data and Key Metrics Changes - Software revenue for the quarter was $1.7 million, reflecting a 123% growth in recurring revenue year-over-year [12] - Hardware revenue decreased by 61% to $4 million, significantly below the prior year period [12] - Software bookings included a $4 million contract with Los Angeles County, with expectations for continued strong performance in software bookings [10] Market Data and Key Metrics Changes - The company expects to receive up to $75 million from the Puerto Rico dam project, with contract terms being finalized [7] - The hardware backlog was exceptionally low at the start of fiscal 2024, impacting revenue recognition [12] - International orders and shipments to the U.S. Department of Defense are anticipated to play a key role in future revenue [9] Company Strategy and Development Direction - Genasys is focusing on expanding its presence in public safety and critical infrastructure protection, supported by a fortified balance sheet and new board members with relevant expertise [28] - The company aims to aggressively pursue opportunities in mass notification and has successfully transitioned from military applications to broader markets [27] - The strategy includes leveraging software capabilities developed through acquisitions to enhance hardware offerings [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's prospects, indicating that the outlook for the next few years has dramatically improved [28] - The company anticipates significant revenue from the Puerto Rico and CROW 16 projects, estimating nearly $200 million in highly profitable revenue in the coming years [51] - Management acknowledged that while the second quarter was financially disappointing, the software business remains strong and is expected to continue growing [45] Other Important Information - The company closed a $15 million debt financing to strengthen its balance sheet [6] - Cash and cash equivalents totaled $6.6 million as of March 31, 2024, down from $10.1 million at the fiscal year-end [13] - Operating expenses increased by 10% to $9.2 million, largely due to the acquisition of Evertel and increased professional services [30] Q&A Session Summary Question: Clarity on CROW revenue and funding timeline - Management indicated that initial funding is beginning to flow, with more clarity expected after the kickoff meeting scheduled for June [15] Question: Revenue expectations from Puerto Rico deal - Management noted that the contract value has increased to approximately $75 million, with further clarity expected in the next conference call [35] Question: Impact of civil disobedience on LRAD device sales - Management acknowledged that while major police forces already have LRADs, current events may highlight the need for more units, potentially leading to increased sales [42]
Genasys (GNSS) Reports Q2 Loss, Lags Revenue Estimates
Zacks Investment Research· 2024-05-14 22:46
Company Performance - Genasys reported a quarterly loss of $0.16 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.12, and compared to a loss of $0.09 per share a year ago [1] - The quarterly report represented an earnings surprise of -33.33%, and the company had a previous loss of $0.15 per share against an expected loss of $0.10, resulting in a surprise of -50% [2] - Revenues for the quarter were $5.74 million, missing the Zacks Consensus Estimate by 18.55%, and down from $11.21 million year-over-year [3] Future Outlook - The sustainability of Genasys' stock price movement will depend on management's commentary during the earnings call and future earnings expectations [4] - The current consensus EPS estimate for the upcoming quarter is -$0.03 on revenues of $15.62 million, and for the current fiscal year, it is -$0.28 on revenues of $48.63 million [8] - The estimate revisions trend for Genasys is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [7] Industry Context - Genasys operates within the Consumer Services - Miscellaneous industry, which is currently ranked in the bottom 33% of over 250 Zacks industries [9] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry outlook can significantly impact stock performance [6]