Genasys Inc Stock Price, News & Analysis

Genasys Inc. (NASDAQ: GNSS) reported record fiscal fourth quarter revenue of $15 million, contributing to a full-year revenue of $47 million, an 8% increase from 2020. The company ended the fiscal year with a backlog of $36.1 million, up 217% from the previous year. However, net income dropped to $0.8 million compared to $9.4 million in Q4 2020 due to increased operating expenses. The firm is shifting towards a Software as a Service (SaaS) model, expecting a 50% growth in SaaS bookings year-over-year, while forecasting $9-$11 million increase in operating expenses for fiscal 2022.

Genasys Inc. (NASDAQ: GNSS) has announced upcoming participation in two significant investor conferences: the Barclays Global Technology, Media and Telecommunications Conference on December 8, 2021, and the Imperial Capital 2021 Security Investor Conference on December 15, 2021. CEO Richard S. Danforth and CFO Dennis Klahn will host virtual meetings and in-person presentations, offering insights into the company's critical communications systems aimed at enhancing public safety. Interested parties can register for the events through their respective representatives.

Genasys Inc. (NASDAQ: GNSS) announced the resignation of Daniel H. McCollum from its Board of Directors effective November 11, 2021. McCollum will now serve on the Strategic Advisory Board. Under his tenure since 2016, the company made three acquisitions, launched critical software solutions, and achieved a revenue growth of over double digits CAGR alongside a more than 225% increase in share price. His transition is expected to enhance the company's revenue growth and shareholder value.

Genasys Inc. (NASDAQ: GNSS) announced plans to release its financial results for the fiscal year ending September 30, 2021, on November 22, 2021, after market close. A conference call will follow at 4:30 PM ET to discuss these results. Genasys is recognized for its critical communications systems that enhance public safety through geo-targeted alerts. Their technology is utilized in over 100 countries, serving sectors such as defense and emergency management.

Genasys Inc. (NASDAQ: GNSS) announced that the Green Bay Packers are utilizing its Genasys Emergency Management (GEM) software for improved safety and communication at Lambeau Field. This multi-year contract, initiated in 2016, aims to enhance stadium security by delivering real-time updates and emergency notifications via SMS, email, and other channels. CEO Richard S. Danforth emphasized GEM's unique integration with physical security systems, which supports mobile panic buttons and emergency alerts. The unified platform is designed to ensure robust communication during critical situations.

Genasys Inc. (NASDAQ: GNSS) has announced a strategic distribution partnership with Danimex Communications A/S, enhancing its outreach in Africa and the Middle East. This collaboration aims to accelerate the sales of Genasys' critical communication solutions, including LRAD® and Integrated Mass Notification Systems. CEO Richard S. Danforth noted significant opportunities following the establishment of their Dubai office, while Danimex's CEO Charlotte Thomsen emphasized the importance of these systems amid rising crises. Genasys serves over 100 countries, focusing on public safety and emergency management.

Genasys Inc. (NASDAQ: GNSS) announced the transition of General John G. Coburn from Chairman of the Board to Chair of the Strategic Advisory Board, effective November 1, 2021. Coburn will continue to provide consultancy services after resigning from the Board and its committees. CEO Richard S. Danforth praised Coburn's leadership in expanding the company's business with the U.S. Military and transforming it into a global provider of critical communications solutions. Coburn expressed his commitment to continue working with the management team to enhance business interests and shareholder value.

Genasys Inc. announced that 13 California counties signed multi-year contracts for its Zonehaven software services, enhancing emergency evacuation planning for over 6.9 million residents. The Zonehaven platform provides real-time evacuation information, improving the response capabilities of first responders and emergency services. CEO Richard S. Danforth highlighted expectations for further county contracts this fiscal year. The software has been instrumental during several major wildfires and other emergencies, offering a comprehensive solution for public safety and critical communications.

Genasys Inc. (NASDAQ: GNSS) announced international defense and wildlife preservation orders worth $1.9 million. These include LRAD® 100X and LRAD 450XL communications systems for deployment by foreign military in the Middle East, Northern Africa, and Asia Pacific. The LRAD systems, effective for multi-language warnings and minimizing force use, are also integrated with avian radar for wildlife protection in Canadian mining operations. Genasys’ technology ensures clear transmission up to 5,000 meters and is utilized globally for defense and public safety.