Genasys Inc Stock Price, News & Analysis

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.

Genasys Inc. (NASDAQ: GNSS) has commenced shipments of its LRAD 950NXT, a state-of-the-art communication and response system. The company is fulfilling $3.2 million in naval orders, including $1.8 million from the French Navy and $1.4 million from the Spanish Navy. Demand is high for the 950NXT amidst rising global security concerns. This system enhances threat identification and communication capabilities, integrating advanced features like automated security alerts when combined with sensors. Genasys continues to grow its footprint in critical communications across over 100 countries.

Genasys Inc. (NASDAQ: GNSS) announced a new cooperative purchasing contract with Sourcewell, enabling more than 50,000 government, educational, and non-profit organizations to directly purchase its critical communications systems. This contract, awarded after a competitive bidding process, streamlines procurement while ensuring compliance with local requirements. Genasys is currently the only provider of unified emergency mass notification and smart evacuation management solutions available through Sourcewell contracts, enhancing its capability to support public safety initiatives.

Genasys Inc. (NASDAQ: GNSS) reported a 33% revenue growth year-over-year for the fiscal first quarter, totaling $10.7 million. The CEO noted solid performance amid ongoing supply chain challenges, emphasizing investments in staffing and resources for their Software-as-a-Service (SaaS) business. While gross profit margin was stable at 45.9%, operating expenses surged 48% to $6.5 million, leading to a net loss of $1.3 million. Despite the losses, the company remains optimistic about its growth outlook amid strong demand for critical communication systems.