Genasys Inc Stock Price, News & Analysis

Genasys Inc. (NASDAQ: GNSS) has announced new multi-year contracts for its Emergency Management (GEM) software in six states, including MetLife Stadium in New Jersey. These agreements cover 13 counties and over 430,000 residents. CEO Richard S. Danforth noted that GEM has replaced competitor services in most new contracts, reinforcing the software's growing footprint across 17 states and four countries. Genasys anticipates further government and enterprise contracts this fiscal year, enhancing real-time safety alerts through multiple communication channels.

Genasys, a leader in critical communications systems, announced participation in the LD Micro Invitational XII Conference from June 7-9, 2022, in Westlake Village, California. CEO Richard Danforth and CFO Dennis Klahn will hold a group presentation on June 8, at 10:00 a.m. Pacific Time, available via live webcast. They will also engage in one-on-one meetings with investors. Genasys provides advanced solutions for public safety, serving over 100 countries with its unified critical communications platform, including emergency management and mass notification systems.

Genasys Inc. (GNSS) announces a successful evacuation drill in Walnut Creek, California, utilizing its Zonehaven digital evacuation system. The exercise, conducted by local first responders, aimed to enhance evacuation protocols in the community. Genasys CEO Richard Danforth noted that their systems now protect nearly 30% of California residents amidst increasing demand due to recent wildfires. Additionally, Genasys activated its Integrated Mass Notification System in Laguna Beach during a recent fire, further showcasing its role in public safety.

Genasys Inc. (NASDAQ: GNSS) announced $1.5 million in foreign military sales (FMS) and international defense orders. The orders, managed by the Department of State, aim to enhance security and promote global peace. Richard S. Danforth, CEO, noted that these orders are set for deployment across Europe, the Middle East, and South America. Demand for Genasys' LRAD systems has increased due to escalating regional tensions and conflicts. The company anticipates further domestic and international orders within the fiscal year.

Genasys Inc. (NASDAQ: GNSS) reported a 17% revenue increase to $13.2 million for Q2 fiscal 2022, driven by stronger LRAD and IMNS sales. Gross margin improved to 52.9%, up from 46.5% year-over-year. However, operating expenses rose by 59% to $7.5 million, leading to a net loss of $0.5 million, compared to a profit in the same quarter last year. Adjusted EBITDA was $0.9 million. The backlog increased 73% to $23.9 million, supporting a positive outlook for the remainder of the fiscal year.

Genasys Inc. (NASDAQ: GNSS) announced multi-year contracts for its Zonehaven evacuation management software with Plumas County, California, and Josephine County, Oregon. These contracts emphasize the growing momentum in Genasys' higher-margin software business. Zonehaven aims to reduce evacuation times from hours to minutes and has been essential during significant wildfire events. The expansion into Oregon, with Josephine County being the first to deploy Zonehaven, highlights the increasing demand for comprehensive safety solutions in disaster management.

Genasys Inc. (NASDAQ: GNSS) has secured multi-year contracts for its Emergency Management (GEM) and Zonehaven solutions, enhancing safety for over 10 million residents across several states, including California, Colorado, Georgia, Kentucky, Missouri, and Texas. Notably, Colorado Springs will implement Zonehaven for emergency evacuations. These services provide crucial real-time updates on evacuations, weather, and traffic. The company anticipates additional contracts this quarter, reinforcing its role as a leader in critical communications systems.

Genasys Inc. (NASDAQ: GNSS) has announced its first international installation of the Integrated Mass Notification Systems (IMNS) powered by Genasys Emergency Management (GEM) software at a utility facility in Japan. The new Edge 600 control cabinet enhances mass notification capabilities and can be operated remotely. Additionally, Genasys secured its first IMNS order from the U.S. Army, valued over $10 million, for installations at Ft. Bliss, Texas. The Edge 600 system is designed for rugged environments and compatible with third-party systems.

Genasys Inc. (NASDAQ: GNSS) announced plans to release its financial results for the fiscal second quarter, ended March 31, 2022, on May 9, 2022, after market close. A conference call will follow at 4:30 p.m. Eastern Time to discuss the results. The call can be accessed via a toll-free dial-in number for U.S. and Canadian participants, and an international dialing option is also available. Genasys specializes in critical communications solutions, serving clients in over 100 countries.