Genasys Inc Stock Price, News & Analysis

Genasys Inc. (NASDAQ: GNSS) announced plans to release its fiscal third-quarter financial results on August 11, 2022, following market closure. The call will take place at 4:30 p.m. ET, with details available for those wishing to join via phone or webcast. Genasys is a leader in critical communications systems, providing solutions for public safety and emergency management across more than 100 countries. Their platforms facilitate geo-targeted alerts and notifications to enhance safety during emergencies.

Genasys Inc. (NASDAQ: GNSS) announced the extension of its Zonehaven SaaS contract with Santa Clara County, now covering over 1.9 million people. This contract follows the 2020 deal, which initially serviced 190,000 residents. The CEO highlighted the importance of real-time alerting systems in protecting residents during public safety threats, especially wildfires. Additionally, Genasys signed new contracts with Solano, Lassen, and Modoc counties, bringing the total to 24 counties benefiting from its evacuation platform. This expansion enhances emergency management capabilities across the Bay Area.

Genasys Inc. (NASDAQ: GNSS) has secured a $15.7 million follow-on order for its LRAD 450XL systems from the U.S. Army under the Acoustic Hailing Device Program. This investment supports the Army's commitment to non-lethal communication capabilities, enhancing operational versatility for Active, Reserve, and Guard units. The LRAD 450XL's advanced performance allows for long-range communication and can be mounted across various platforms. Genasys continues to serve over 100 countries, providing critical communication solutions for defense and public safety.

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.