Welcome to our dedicated page for Genasys news (Ticker: GNSS), a resource for investors and traders seeking the latest updates and insights on Genasys stock.
Genasys Inc. (NASDAQ: GNSS) is a Protective Communications company in the audio and video equipment manufacturing industry, and this page aggregates news and announcements related to GNSS stock. Company press releases describe Genasys as the global leader in Protective Communications, with a portfolio that includes Long Range Acoustic Device (LRAD) systems, the Genasys Protect platform, and the Evertel secure communication and collaboration platform.
News about Genasys often focuses on contracts and deployments of its hardware and software systems. Recent examples include updates on a multi-year Emergency Warning System project for the Puerto Rico Electric Power Authority, follow-on orders for Genasys Acoustics emergency warning and perimeter security systems at nuclear energy sites, and LRAD-RT orders for bird and wildlife preservation. The company also reports LRAD orders from the U.S. military and international orders in the Asia Pacific region.
Investors and observers can use this news feed to follow developments in Genasys’ hardware and software segments, including large project milestones, new contracts, and partnerships. Announcements have highlighted a growing backlog, demand across defense, public safety, emergency warning, and other critical markets, and strategic collaborations such as the partnership with Julie Parker Communications to support law enforcement and crisis communication.
In addition to operational updates, Genasys news includes financial results, conference participation, investor relations initiatives, and leadership or governance changes disclosed through press releases and SEC-related communications. Users interested in GNSS can review these items to understand how the company’s Protective Communications solutions are being adopted and how management describes its progress across key markets and projects.
Genasys Inc. (NASDAQ: GNSS) has secured a four-year software services contract with the Spain Ministry of the Interior, enhancing its role in public safety and emergency communications. CEO Richard S. Danforth indicated that this contract could lead to additional software sales in Spain and the EU. This deal aligns with the EU’s EECC Article 110 initiative, which mandates a geo-located emergency communication system for mobile phones by June 2022. Genasys aims to improve its services through its NEWS system, which operates across SMS and Cell Broadcast channels.
Genasys Inc. (NASDAQ: GNSS) reported fiscal Q1 2021 revenues of $8.0 million, a decline from $8.8 million year-over-year, primarily due to delayed shipments. Gross profit margin fell to 46.1% from 52.4% due to increased engineering personnel and expenses. Operating expenses grew by 13% to $4.4 million, influenced by higher sales and marketing costs. The company incurred a net loss of $0.6 million, compared to a net income of $0.6 million in the same quarter last year. Despite this, Genasys announced record bookings of $12.2 million, indicating strong future revenue potential.
Genasys Inc. (NASDAQ: GNSS) has announced the opening of new offices in Singapore and Dubai to enhance its regional expansion efforts. The offices are operated by experienced sales professionals targeting Southeast Asia, the Middle East, Africa, and Central Asia. CEO Richard S. Danforth emphasized the growing demand for mass notification solutions, especially during the pandemic. The company has named Sean McKane and Peter Ayre as vice presidents for their respective regions, alongside Mauricio Tellez for Latin America. Genasys operates in 72 countries, providing critical communications solutions.
Genasys Inc. (NASDAQ: GNSS) announced a $5.1 million follow-on order for the LRAD 450XL from the U.S. Army, marking its third follow-on order in 2020. This order is part of the Army's Acoustic Hailing Device program, supported by the fiscal year 2020 Defense Appropriations Bill. The LRAD 450XL is recognized for its long-range communications capabilities and is used by military police and security units for various missions. Genasys expects additional orders in fiscal year 2021.
On December 21, 2020, Genasys (NASDAQ: GNSS) announced its inclusion in the Gartner Market Guide for Emergency/Mass Notification Services Solutions. The guide highlights the expanding use cases for emergency notification services, including active intruder alerts and pandemic management. CEO Richard S. Danforth emphasized that the GEM platform is a leader in integrated critical communications. Genasys' National Emergency Warning System further enhances its capabilities.
Genasys Inc. (NASDAQ: GNSS) has secured a competitive research and development contract from the U.S. Navy through the SBIR program. This contract aims to advance acoustic driver technologies that are smaller, lighter, louder, and more cost-effective. CEO Richard S. Danforth highlighted the partnership with the Department of Defense over the past 15 years, emphasizing the significance of this contract. Genasys' LRAD systems enhance naval communication and security operations for 27 global naval forces, contributing to defense and safety across various maritime operations.
Genasys Inc. (NASDAQ: GNSS) reported record financial results for the fiscal year ending September 30, 2020, with revenues of $43.0 million, an increase of 16% from the previous year, and fourth quarter revenues of $14.0 million, up 80% year-over-year. The net income for the year was $11.9 million, or $0.35 per diluted share, compared to $2.8 million in fiscal 2019. Gross profit margins improved to 52.6%. However, bookings decreased by 22% to $36.0 million due to COVID-19-related delays. The company anticipates record fiscal first quarter bookings for fiscal 2021.
Genasys is set to present at the Northland Capital Markets IoT, AI and Safety Virtual Conference on December 7, 2020, from 3:15 p.m. to 4:00 p.m. Eastern Time. Members of the executive management team will engage in one-on-one meetings with registered investors during the event. The conference will showcase Genasys' innovative offerings in critical communications systems, aimed at enhancing public safety. Interested parties can access the webcast through the company's Investor Relations webpage.
Genasys Inc. (NASDAQ: GNSS) plans to release its fiscal year 2020 financial results on December 9, 2020, after market close. A conference call will follow at 4:30 p.m. Eastern to discuss the results. Interested parties can dial in using 888.390.3967 (toll-free) or 862.298.0702 (international). A webcast will be available for those unable to participate live. Genasys is a leader in critical communications, offering systems that deliver geo-targeted alerts across 72 countries and over 450 U.S. cities.
Genasys Inc. (NASDAQ: GNSS) reported new orders totaling $2.6 million from the U.S. Army National Guard, Navy, Air National Guard, and Air Force for critical communication systems. The orders include LRAD 100X MAG-HS kits and LRAD 1000Xi systems as part of a $4.3 million IDIQ contract. The U.S. Military continues to rely on Genasys' systems for effective communication and mission success. Genasys operates in 72 countries, providing solutions for defense and public safety.