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. 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 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.
Genasys Inc. (NASDAQ: GNSS), a global leader in Protective Communications, has announced the release of its fiscal third quarter 2024 financial results on August 6, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time to discuss the results.
Investors can join the call via toll-free number (888) 390-3967 for U.S. & Canada or (862) 298-0702 for international callers. A webcast will also be available. Participants are advised to dial in 10 minutes before the start time. Questions for management can be submitted in advance to ir@genasys.com. A replay of the webcast will be accessible on the company's website approximately four hours after the presentation.
Genasys Inc. (NASDAQ: GNSS) announced that Punahou School in Honolulu, Hawaii, is replacing its outdoor sirens with Genasys ACOUSTICS systems. These systems provide highly audible voice messaging for emergency notifications, addressing various risks such as severe weather, civil disturbances, and active shooter threats. The ACOUSTICS systems offer:
- Clear voice messages over large distances and above background noise
- Remote activation for swift message dissemination
- Integration with existing infrastructure and notification software
- Support for multiple languages
- Continued operation during power and cellular network failures
Punahou School, with 3,700 students on a 76-acre campus, joins other notable institutions like UC Berkeley in adopting Genasys ACOUSTICS systems for enhanced campus safety.
Genasys Inc. (NASDAQ: GNSS), the global leader in Protective Communications, announced that LRAD and CONNECT synergies are driving demand from law enforcement and public safety agencies. These agencies are preparing for the return of students to campuses, national elections, and civil unrest. LRAD systems, used by over 550 U.S. police departments, provide clear communication in challenging environments. CONNECT facilitates secure, real-time information sharing for police officers and first responders.
Genasys is hosting a Law Enforcement Appreciation event at Fenway Park on August 9, 2024. The event will include public safety executive training on protest response, incident debriefing on the Francis Scott Key Bridge collapse, and communications training for police executives.
Genasys has reconstituted its Board of Directors, appointing Mark Culhane as the Chair of the Audit Committee. The board now includes five independent directors and CEO Richard Danforth. Culhane, who has over 30 years of executive finance experience, replaces Caltha Seymour, who resigned. He has held CFO positions in various companies, including Teradata and Lithium Technologies, and has served on multiple boards.
Chairman Rick Osgood and CEO Richard Danforth praised the new board composition, emphasizing its potential to enhance Genasys' financial consistency and performance. The board's diverse expertise is expected to aid in the company's growth, particularly in software sales and State, Local, and Education (SLED) markets.
Osgood highlighted the importance of the board's adjustments to maximize the benefits of recent changes and investments, aiming for lasting shareholder value improvement.