Genasys (GNSS) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue for fiscal Q1 2025 was $6.9 million, a 59.1$4.4 million in Q1 2024[5] - GAAP net loss for the quarter was ($4.1) million, or ($0.09) per share, compared to a net loss of ($6.7) million, or ($0.15) per share in Q1 2024[10] - Adjusted EBITDA for Q1 2025 was ($4.8) million, an improvement from ($6.1) million in Q1 2024[11] - Gross profit margin improved to 45.8%, up from 33.9% in Q1 2024[8] - Operating expenses for Q1 2025 were $9.1 million, slightly up from$8.7 million in Q1 2024[9] Revenue Breakdown - Software revenue increased by 63.5% year-over-year, while hardware revenue increased by 57.1%[7] - Quarterly recurring revenue within software increased by 68.7% year-over-year[7] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $13.9 million as of December 31, 2024, compared to$13.1 million as of September 30, 2024[12] Project and Backlog - The company received over $10 million in cash deposits for the first two approved groups of Puerto Rico dams[5] - The backlog entering fiscal 2025 is approximately$40 million, primarily tied to the Puerto Rico project[6]