Every U.S. Navy surface combatant and 31 international Navies and Coast Guards are using LRAD systems for a wide variety of applications including exclusion zone enforcement, search and rescue operations, ship selfdefense, environmental response, and during anti-piracy, human trafficking and smuggling interdictions. Featuring an integrated HD camera, high-intensity searchlight and robust, IP-addressable full pan & tilt drive, when integrated with radar or motion sensors the LRAD 950NXT provides automated al ...

SAN DIEGO, June 25, 2024 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in Protective Communications, today announced new and follow-on defense orders from the Middle East. The follow-on order is part of a previously announced foreign military sales (FMS) contract award to deploy LRAD systems on shore installations and naval ships. The combined value of the original award and the follow-on order is over $2.7M. About Genasys Inc. "International orders that have been delayed are starting t ...

Core Insights - Genasys Inc. is positioned for significant revenue growth due to incoming international orders and ongoing defense contracts, including a notable foreign military sales (FMS) contract valued at over $2.7 million [3][4]. Company Overview - Genasys Inc. is recognized as the global leader in Protective Communications, offering a comprehensive platform for preparedness, response, and analytics, alongside its Long Range Acoustic Devices (LRAD) [3]. - The company has been operational for over 40 years, protecting more than 70 million people across over 100 countries, including more than 500 cities in the U.S. [3]. Recent Developments - The company has received new and follow-on defense orders from the Middle East, which are part of a previously announced FMS contract for deploying LRAD systems on shore installations and naval ships [4]. - CEO Richard S. Danforth highlighted that delayed international orders are now being fulfilled, which is expected to enhance the company's pipeline and backlog significantly [3].

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 ...

Core Insights - Genasys Inc. has launched Genasys Protect EVAC, an advanced emergency alerting solution aimed at enhancing public safety communication in San Diego County, especially with peak fire conditions approaching [1][2][3] - The EVAC system is currently deployed across 70% of California and will serve as the primary tool for disseminating critical public safety information, including severe weather alerts and evacuation notices [1][2] - The technology allows for precise, location-based alerts, enabling emergency managers to send tailored messages to residents based on their specific locations [2][3] Company Overview - Genasys Inc. is recognized as the global leader in Protective Communications, providing a comprehensive portfolio of preparedness, response, and analytics software and systems [4] - The company has been protecting people and saving lives for over 40 years, covering more than 70 million people in over 100 countries, including more than 500 U.S. cities [4] - Genasys emphasizes its commitment to safety and effective communication solutions, particularly in the context of emergency situations like wildfires [3][4]

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 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 ...

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]

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 ...

Financial Performance - Revenues for the second quarter of fiscal 2024 were $5.739 million, a decrease from $11.213 million in the same quarter of fiscal 2023, with software revenue increasing by $887, while hardware revenue decreased by $6.361 million [195]. - The company reported a net loss of $6.938 million for the second quarter of fiscal 2024, or $(0.16) per share, compared to a net loss of $3.403 million, or $(0.09) per share, for the same quarter in the prior year [195]. - Total revenues decreased by $5,474, or 49%, to $5,739 in Q2 FY2024 compared to $11,213 in Q2 FY2023 [214]. - Product sales dropped to $3,209, representing 55.9% of total revenues, down from $9,940, or 88.6%, in the prior year [214]. - Gross profit fell by $2,748, or 56%, to $2,177, with gross profit margin decreasing to 37.9% from 43.9% [216]. - Net loss for Q2 FY2024 was $6,938, compared to a net loss of $3,403 in Q2 FY2023, attributed to lower revenues [222]. - Total revenues for the six months ended March 31, 2024, decreased by $11,600, or 53.5%, to $10,100 compared to $21,700 in the same period of 2023 [224]. - Net loss for the first six months of fiscal 2024 was $13,662, compared to a net loss of $6,910 in the prior year, reflecting lower revenue and higher operating expenses [232]. - Adjusted EBITDA for the six months ended March 31, 2024, was $(11,794), compared to $(4,683) in the same period of 2023 [235]. Revenue Breakdown - Hardware revenue decreased by $6,361, while software revenue increased by $887, with a 123% rise in recurring software revenue [215]. - Hardware revenue decreased by $13,000, or 65.2%, while software revenue increased by $1,400, or 79.8% [225]. - Software segment revenue increased by 104% year-over-year, driven by a 123% increase in recurring revenue [238]. - Hardware segment revenue decreased by $6,361, or 61%, primarily due to lower backlog compared to the previous year [239]. - Software segment revenue increased 80% year-over-year, with a 105% increase in recurring revenue compared to the same period last year [243]. - Hardware segment revenue decreased by $13,000, or 65%, primarily due to lower backlog compared to the previous year [245]. Expenses - Selling, general and administrative expenses increased by $586, or 10%, totaling $6,640, primarily due to higher compensation and commission expenses [218]. - Research and development expenses rose by $250, or 11%, to $2,531, reflecting an increase in engineering personnel [220]. - Selling, general and administrative expenses increased by $719, or 4.3%, primarily due to higher compensation-related costs and amortization expenses from the Evertel acquisition [228]. - Research and development expenses increased by $506, or 12.0%, due to increased compensation-related costs associated with hiring more engineers [230]. - Operating loss increased by $1,081 in the six-month period due to higher compensation costs and amortization expenses from the Evertel acquisition [244]. Contracts and Opportunities - The company has recognized revenue under a $110 million U.S. Army program for long-range acoustical devices, with final deliveries completed in the fourth quarter of fiscal 2023 [196]. - A new contract of up to $75 million was awarded to engineer, procure, and build an emergency notification system for Puerto Rico, with anticipated revenue beginning in fiscal year 2025 [196]. - The company expanded Genasys Protect EVAC coverage to include all of Los Angeles County, CA, under a five-year contract [196]. - The company completed the acquisition of Evertel Technologies, now rebranded as Genasys Protect CONNECT, enhancing its cross-agency collaboration capabilities [196]. - A $2 million contract was awarded under a multi-phase program to deploy LRADs on naval ships and shore installations of a Middle Eastern country [196]. - The company partnered with Ladris Technologies, Inc. to deliver comprehensive disaster evacuation modeling solutions across North America and Europe [196]. - The company believes there are strong market opportunities for its products in defense, public safety, emergency warning, and critical event management sectors due to increasing threats [197]. - The company plans to pursue domestic and international business opportunities, including U.S. military contracts and emergency management systems [202]. - The company is investing in enhancing its Genasys Protect platform and pursuing certifications for government bidding opportunities [204]. Cash Flow and Financial Position - Cash and cash equivalents decreased to $3,544 as of March 31, 2024, down from $8,665 as of September 30, 2023 [247]. - Net cash used in operating activities was $(12,496) for the six months ended March 31, 2024, compared to $(7,466) for the same period in 2023 [249]. - The company had accounts receivable of $2,820 as of March 31, 2024, down from $5,952 as of September 30, 2023 [252]. - Working capital decreased to $10,331 as of March 31, 2024, from $13,949 as of September 30, 2023, primarily due to net loss and decreased accounts receivable [253]. - Net cash used in investing activities was $3,347 for the six months ended March 31, 2024, compared to net cash provided of $918 for the same period in 2023 [254]. - The company received $10,318 through financing activities for the six months ended March 31, 2024, compared to $41 for the same period in 2023 [255]. - As of March 31, 2024, $3.0 million was available for share repurchase under the company's buyback program [257].