Genasys (US:GNSS)2021-02-10 08:37Financial Data and Key Metrics Changes - Revenues for Q1 2021 were $8 million, down from $8.8 million in the prior year quarter due to delayed shipment of an order [10] - Gross profit was $3.7 million or 46.1% of revenue, decreased from the previous year due to lower hardware shipments and increased engineering personnel [11] - Operating expenses increased to $4.4 million from $3.9 million, primarily due to a 50% increase in sales and marketing personnel [12] - Net loss for the quarter was $600,000 or $0.02 per share, compared to net income of $600,000 or $0.02 per share in Q1 2020 [13] - Cash, cash equivalents, and marketable securities totaled $27.5 million, down from $31.4 million [14] Business Line Data and Key Metrics Changes - Bookings for Q1 2021 were a record $12.2 million, 43% higher than the first six months of Fiscal 2020 [16] - Backlog at December 31, 2020, was $21.5 million, slightly down from the previous fiscal year's quarter [17] - The acquisition of Amika Mobile contributed to increased software business activity in North America [18] Market Data and Key Metrics Changes - The company has added 16 sales personnel and established international offices in Singapore and Dubai to meet growing demand [19] - Increased interest in emergency warning systems in the EU due to the National Emergency Warning Solution directive [21] - The company is participating in several RFPs with multiple countries and mobile network operators for public warning systems [22] Company Strategy and Development Direction - The company is pursuing additional synergistic acquisitions to expand its business and grow revenues [29] - Focus on integrated public safety mass notification systems and large U.S. Army Program of Record Awards [29] - Anticipation of substantial growth in the emergency management software market [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth opportunities, particularly in software and hardware [30] - Despite uncertainties related to COVID-19, the company has managed to move key business initiatives forward [28] - The company expects to record record revenues and remain profitable in Fiscal 2021 [70] Other Important Information - The company is integrating the Amika Mobile team and software platforms, with ongoing integration expected throughout the fiscal year [45] - The company is competing for contracts related to national tsunami and earthquake early warning systems [27] Q&A Session Summary Question: European trial completion and next steps - Management confirmed that the next steps involve RFPs currently in process [34] Question: Demand for emergency communications - Management indicated that demand is already stronger than the previous year, with interest from various sectors [51] Question: Market valuation for M&A opportunities - Management noted that there are plenty of opportunities, but high valuations in the SaaS market present challenges [46] Question: Revenue impact from delayed orders - Management stated that if the delayed order had been fulfilled, revenue would have been flat compared to the prior year [93]