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Genasys Inc. provides Protective Communications software and hardware for public safety, enterprise and defense uses. News about GNSS commonly covers Genasys Protect deployments, emergency alerting and evacuation management contracts, Acoustics outdoor warning systems, and Long Range Acoustic Device (LRAD) orders for maritime and security applications.
Recurring updates also include fiscal results and conference calls, customer orders from municipalities, counties, fire districts and defense organizations, and governance changes involving the board and audit oversight. The company's Protect Platform includes Genasys Protect and Genasys Evertel, while its hardware portfolio includes LRAD systems used for long-range critical communications.
Genasys Inc. (NASDAQ: GNSS) has announced it will release its fiscal year 2024 financial results on December 9, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time to discuss the results. Additionally, Genasys management will participate in the ROTH 13th Annual Technology Conference from November 19-20, 2024, in New York City, where they will conduct one-on-one and small group meetings with investors.
Genasys Inc. (NASDAQ: GNSS) has secured a four-year contract with Los Angeles County for its ALERT mass notification software services. This addition complements the county's existing use of Genasys EVAC emergency evacuation management services since 2022. The integrated system will serve LA County's 9.8 million residents and 50 million annual visitors across 4,000 square miles and 88 incorporated cities. ALERT provides geo-targeted emergency warnings and multi-channel, multi-language mass notification through various channels, including mobile push, IPAWS, text messaging, emails, voice calls, and social networks.
Genasys Inc. (NASDAQ: GNSS) has secured a four-year contract from the Maui Emergency Management Agency (MEMA) to provide Genasys EVAC and TRAFFIC AI solutions. The implementation, set to begin in January 2025, aims to enhance disaster preparedness following the August 2023 wildfires. Genasys EVAC enables emergency managers to identify areas, implement evacuation plans, and deliver targeted notifications through intelligent zones. TRAFFIC AI complements this by providing real-time traffic data for coordinating evacuations. The system will be deployed after review by first responder agencies, integrating local knowledge with technology to improve emergency response capabilities.
Genasys Inc. (NASDAQ: GNSS) has received an order from the U.S. Bureau of Reclamation for LRAD 950NXT integrated surveillance, security, and first response systems to enhance security at Hoover Dam. These systems will replace the first-generation LRADs that have been providing critical infrastructure protection since 2016.
The upgraded 950NXTs feature Genasys Protect software with comprehensive functionality and easy-to-use controls. They enable operators to identify potential threats on live video feeds, position the system's pan & tilt drive, and broadcast clear warning tones and voice messages up to 3,000 meters away.
The 950NXT includes an integrated HD camera, high-intensity searchlight (optional), and robust pan-and-tilt drive. When integrated with radar or motion sensors, it provides automated intruder alerts, functioning as an unmanned perimeter security and first response system.
Genasys Inc. (NASDAQ: GNSS) has announced new international orders for its LRAD (Long Range Acoustic Device) systems. The company received a law enforcement order from a West African country and a follow-on defense order from Damen Schelde Naval Shipbuilding B.V. The West African order will see LRAD systems mounted on police vehicles for public safety operations and crowd communication. Damen has exercised an option to equip two more German Navy F-126 frigates with multiple LRAD 950NXT systems.
Genasys CEO Richard Danforth noted that these orders, along with previously announced orders from the EU, Middle East, and APAC regions, indicate a rebound in international LRAD business. Peter Ayre, VP of EMEA Business Development, highlighted increasing demand for LRAD's communication capabilities due to escalating regional tensions and civil unrest. LRAD systems can broadcast clear voice messages and alert tones up to 5,500 meters and are used globally in various applications including public safety, defense, and critical infrastructure protection.
Genasys Inc. (NASDAQ: GNSS) has secured a multi-year contract with Oregon's Office of Resilience and Emergency Management (OREM) to provide its EVAC software for emergency response planning and evacuation management. The software will be available to all 36 counties and nine Tribes in Oregon, enabling faster and more efficient emergency evacuations across the state.
Key features of EVAC include:
- Quick creation and updating of evacuation plans
- Realistic simulations for training
- Faster response times during emergencies
- Data-driven decision support tools
- Multi-threat planning and modeling
- Cross-jurisdictional awareness
- EVAC Mobile App for real-time alerts
The software has already been used successfully in recent wildfire evacuations, with emergency managers praising its ease of use and efficiency in notifying community members.
Genasys Inc. (NASDAQ: GNSS) has received an order from the Alabama-Coushatta Tribe of Texas for Genasys ACOUSTICS systems to enhance public safety on their reservation. This order expands Genasys Protect coverage in East Texas, where the Deep East Texas Council of Governments already uses it as a multi-agency mass notification solution.
The ACOUSTICS installations will be integrated with Genasys ALERT, providing high-fidelity outdoor emergency voice warnings and notifications. These systems will feature satellite connectivity, solar power, and battery backup, important for an area prone to natural disasters.
Since launching in August 2023, Genasys Protect has expanded to 39 states, securing significant orders from various government entities. The company's outlook remains strong, with ongoing projects and expected additional orders.
Genasys Inc. (NASDAQ: GNSS) has received an order from the Port of Houston to upgrade its PortAlert system with Genasys Protect EDGE 800 Power and Control cabinets. This upgrade enhances the port's critical infrastructure protection and emergency management capabilities. The new cabinets enable the installation of satellite-connected, solar-powered ACOUSTICS systems in specific areas and increase the port's capacity to:
- Proactively manage visitors
- Send multi-channel alerts and emergency notifications
- Quickly deploy personnel and resources for safety incidents and security breaches
Genasys has been providing systems to the Port of Houston since 2017, with the PortAlert system integrating Genasys ACOUSTICS and Genasys ALERT for clear voice messaging throughout the port's outdoor areas.
Genasys Inc. (NASDAQ: GNSS) has signed a definitive agreement with the Puerto Rico Electric Power Authority (PREPA) to implement its Emergency Warning System (EWS) across 37 dams in Puerto Rico. This FEMA-funded project aims to protect hundreds of thousands of residents and visitors from potential flood threats. Genasys expects to recognize approximately $75 million in revenue over the project term.
The system will include multiple sensors collecting data on reservoir levels, spillway flows, real-time video feeds, and other critical information. Leveraging the Genasys Protect software platform, the system will enable coordinated, multi-channel emergency notifications to affected areas. Seven new Emergency Operation Centers will be constructed to continuously monitor the dams.
Genasys Inc. (NASDAQ: GNSS) reported fiscal Q3 2024 results, showing mixed performance. Revenue decreased to $7.2 million from $14.3 million in Q3 2023, with software revenue growing 120% but hardware revenue declining 62%. The company reported a GAAP net loss of $6.7 million or $0.15 per share, compared to a $1.4 million loss in Q3 2023. Despite the overall revenue decline, Genasys saw positive developments in its software business, with quarterly recurring revenue up 138% year-over-year and ARR reaching $7.6 million. The company received approval for a $75 million dam project with PREPA and expects significant revenue from this project in fiscal years 2025 and 2026. Genasys also highlighted progress in international sales and synergies between its software and hardware businesses.