Genasys Inc Stock Price, News & Analysis

Genasys has announced a new order for its Long Range Acoustic Devices (LRAD) from Singapore Changi Airport, which has used LRAD since 2021 to prevent bird strikes. Bird strikes cause an estimated $1.2 billion in damage annually. With a recent surge in bird strikes at Malaysian airports, the Civil Aviation Authority of Malaysia has recommended the use of modern technologies, including LRAD. Genasys is also pursuing opportunities in other APAC and European airports. LRAD systems, which can be manually operated or integrated with remote command centers, are effective in deterring birds by broadcasting intense, directional sounds and predator calls.

Genasys, a leader in Protective Communications, has secured a new contract with Santa Barbara County for its EVAC system, enhancing emergency response and evacuation management. Santa Barbara joins 36 other California counties in deploying this zone-based solution, which accelerates decision-making, improves communication, and provides real-time notifications.

CEO Richard Danforth highlighted the system's importance, noting the 37 natural disasters Santa Barbara has faced in the past 20 years. The EVAC system aims to enhance public safety for the county's 440,000 residents and 7 million annual visitors by providing data-driven tools for emergency responders, replacing guesswork with intelligence during evacuations.

Genasys (NASDAQ: GNSS) announced an order for its LRAD 950NXT systems from Damen Schelde Naval Shipbuilding for the German Navy's F-126 frigates, marking the largest shipbuilding project in German Navy history. This order includes outfitting four frigates with the option for two more. The first shipment is set for September, with further deliveries in 2025 and 2026. The LRAD 950NXT, a leading maritime acoustic hailing device, provides long-range communication up to 3,000 meters and integrates with Thales Group’s Combat Management System. Genasys’ technology is widely used by the U.S. Navy and 31 international navies and coast guards, offering capabilities such as exclusion zone enforcement and anti-piracy operations.

Genasys (NASDAQ: GNSS) has secured $900K in new and follow-on defense orders from the Middle East, part of a larger $2.7M foreign military sales (FMS) contract. The orders involve deploying LRAD systems on shore installations and naval ships. CEO Richard S. Danforth highlighted the influx of delayed international orders and projected significant revenue growth driven by FMS orders, the Puerto Rico dams project, the CROWS Effectors program, and other LRAD and acoustics business initiatives. Genasys' proprietary technology enhances mission success through clear, long-range communication capabilities.

On May 30, 2024, Genasys (NASDAQ: GNSS) announced the launch of Genasys Protect EVAC in San Diego County, enhancing emergency communication for residents. This innovative solution, already active in 70% of California, will help disseminate critical public safety information such as severe weather alerts, evacuation notices, and missing person reports. The system allows users to register multiple locations and phone numbers for precise, location-based alerts. The initiative aims to improve safety amid peak fire conditions, offering Spanish-language options to support diverse communities.

Genasys (NASDAQ: GNSS), a leader in Protective Communications, announced that CEO Richard Danforth and SVP Brian Alger will participate in the MicroCap Rodeo Spring into Summer Conference in NYC. Danforth's presentation is scheduled for June 6, from 10:30 to 10:55 AM ET and will be live-streamed. One-on-one meetings will also be held the same day. The conference attracts executive teams from over 30 MicroCap companies across various industries.

Genasys (NASDAQ: GNSS) announced the resignation of Scott Anchin, a member of its Board of Directors and Audit Committee Chair, effective May 31, 2024. Anchin's resignation follows his new employment agreement with a multi-national investment firm that requires him to resign from all outside Board roles. During his 8-year tenure, Anchin contributed to Genasys' transformation from solely focusing on LRADs to developing a SaaS platform, acquiring four companies, and expanding its product offerings. Genasys CEO Richard Danforth praised Anchin's leadership and contributions. The company has engaged Egon Zehnder to identify suitable candidates to replace Anchin on the Board.

Genasys has received a $2.7 million order from the U.S. Navy for its LRAD 1000Xi maritime systems, a part of the Navy’s ongoing efforts to replace first-generation LRADs. This new system offers enhanced over-the-water communication and self-protection capabilities, allowing operators to identify threats and escalate force as necessary. The LRAD 1000Xi is designed for reliable operation in extreme conditions and can broadcast clear messages up to 3,000 meters. Genasys' systems are also utilized by over 31 international navies and coast guards for various maritime missions.

Genasys (NASDAQ: GNSS) has announced the expansion of its Board of Directors, adding Bill Dodd, a retiring California State Senator, and Craig Fugate, former FEMA Administrator. Senator Dodd brings over 20 years of public sector experience, including roles in the California State Senate and various committees. He aims to leverage his emergency management knowledge to help Genasys grow its business. Craig Fugate, with extensive experience in emergency management, including leadership roles at FEMA and the Florida Division of Emergency Management, will contribute his expertise to Genasys' mission of improving communication and community safety. CEO Richard Danforth stated that the new additions will have an immediate impact on the company's business.