Genasys Inc. SEC Filings

Genasys Inc. (GNSS) received an amended Schedule 13G/A from INTEGRITY WEALTH ADVISORS, INC., reflecting its position in the company’s common stock. As of June 30, 2026, INTEGRITY WEALTH ADVISORS reports beneficial ownership of 6,286,132 shares of Genasys common stock.

This stake represents 13.80% of the outstanding class. INTEGRITY WEALTH ADVISORS, a California entity, reports sole voting power and sole dispositive power over all 6,286,132 shares, with no shared voting or dispositive power. The amendment is signed by Stephen Wagner, CEO of INTEGRITY WEALTH ADVISORS.

Genasys Inc. officer Cassandra L. Hernandez-Monteon, CFO/Treasurer/Secretary, reported a disposition to the issuer of 11,667 shares of common stock on May 14, 2026. This reflects the forfeiture of 11,667 restricted stock units that were subject to performance-based vesting because one of three fiscal 2026 performance measures was not achieved; the forfeiture was for no consideration. Following the transaction, she holds 76,039 shares of common stock directly and an additional 1,913 shares indirectly through her spouse, for which she disclaims beneficial ownership except to the extent of her pecuniary interest.

Danforth Richard reported disposition transactions in this Form 4 filing.

Genasys Inc. CEO and director Richard Danforth reported the forfeiture of 200,000 restricted stock units on May 14, 2026. These performance-based RSUs, granted on January 26, 2026 under the 2025 Equity Incentive Plan, were forfeited because the threshold performance measure for fiscal year 2026 was not achieved, and the forfeiture occurred for no consideration. Each RSU had represented a contingent right to receive one share of common stock. Following this forfeiture, Danforth directly holds 394,692 shares of Genasys common stock.

Genasys Inc. reported higher year-to-date revenue but remains loss-making and now in a stockholders’ deficit position. For the nine months ended June 30, 2026, revenue rose to $39.9 million from $23.7 million a year earlier, driven mainly by Hardware sales of $32.5 million and Software revenue of $7.3 million. Gross profit increased to $22.2 million, and the company narrowed its net loss to $4.8 million from $16.7 million, with basic and diluted loss per share improving to $0.11 from $0.37.

For the quarter, revenue was $7.3 million versus $9.9 million in the prior-year period, and the net loss was $4.7 million versus $6.5 million. Operating cash use improved to $5.0 million year-to-date from $11.3 million. Cash, cash equivalents and restricted cash fell to $3.7 million, while total liabilities were $59.6 million versus total assets of $58.3 million, resulting in stockholders’ deficit of $1.3 million. The company relies on Term Loans and a new $4.3 million June 2026 loan at 18% interest for liquidity but also reports contract liabilities and remaining performance obligations totaling $21.4 million, most expected to convert to revenue within 12 months, including significant work on the Puerto Rico Early Warning System project.

Genasys Inc. reported fiscal third quarter 2026 revenue of $7.3 million, down from $9.9 million a year earlier, but significantly improved profitability metrics. Gross margin rose to 57.1% from 26.3%, driven mainly by a higher mix of software revenue. GAAP net loss narrowed to $4.7 million, or $0.10 per share, from $6.5 million, and adjusted EBITDA improved to ($3.1) million from ($4.8) million.

For the first nine months of fiscal 2026, revenue increased to $39.9 million from $23.7 million, while year-to-date GAAP net loss was $4.8 million versus $16.7 million. The company ended June 30, 2026 with $3.1 million in cash, cash equivalents, and marketable securities and a backlog of more than $69 million. Total stockholders’ equity turned to a $(1.3) million deficit from $2.2 million at September 30, 2025. Management highlighted a term loan amendment extending $15.2 million of debt to July 13, 2027 with $1.0 million monthly amortization starting October 1, 2026, and stated expectations for a strong fourth quarter and a record fiscal 2026 in revenue and profitability.

Genasys Inc. provided preliminary unaudited results for its fiscal third quarter ended June 30, 2026. The company expects total revenue of $7.0–$7.5 million, gross margin of 55–58%, and an adjusted EBITDA loss between ($3.0) and ($3.3) million. Backlog exiting the quarter was approximately $69 million, reflecting contracted work not yet recognized as revenue.

Management said quarterly revenue was mainly affected by supply chain constraints on the CROWS II Technical Refresh program and a deliberate pause on the Puerto Rico Dams Early Warning System project while awaiting customer payments. The CROWS constraint has been resolved, payments from Puerto Rico have begun, and Genasys expects work on these projects to accelerate in the fiscal fourth quarter, with related revenue recognized then.

The company stated it continues to expect a record year of revenue and profitability and anticipates the fiscal fourth quarter will be the strongest in its history. A recently completed financing was described as adding liquidity and flexibility to execute on large-scale projects and growth opportunities. Full fiscal third quarter results and a conference call are scheduled for August 13, 2026, after market close.

Genasys Inc. amended its Term Loan and Security Agreement, extending the outstanding $15,206,812.50 Closing Date Term Loan maturity from July 13, 2026 to July 13, 2027. The regular interest rate remains three-month SOFR plus 5%, but the loan is now subject to a guaranteed minimum return (MOIC) of 20%.

Beginning October 1, 2026, Genasys must make monthly payments of $1 million, each including principal and related MOIC, with the default rate raised to 5% above the otherwise applicable per annum rate. The agreement includes a $4 million minimum liquidity covenant and restrictions on distributions, investments, indebtedness, asset sales, loans, and certain payments. A related warrant amendment extends the warrant exercise period from May 13, 2029 to May 13, 2030 and reduces the exercise price from $2.53 to $2.28 per share. Genasys cites a strong backlog and growing pipeline and expresses confidence in meeting these obligations while funding growth.

Genasys Inc. entered into an unsecured term loan agreement with Maran Partners Fund, LP, providing $4.3 million of financing. The loan closed on June 9, 2026 and is earmarked solely for working capital and general corporate purposes.

The loan carries a fixed interest rate of 18% per year, with monthly interest payments and all principal and outstanding interest due on September 14, 2026. Genasys paid a $301,000 origination fee deducted from proceeds and agreed to an exit fee of $64,500 if repaid on or before July 13, 2026, or $150,500 if repaid later.

The agreement includes customary covenants limiting additional debt, asset sales, distributions, redemptions and fundamental changes, plus Events of Default such as a change of control. Certain asset sales, equity issuances and a change of control trigger mandatory prepayment. The company can prepay without penalty in $250,000 increments with at least 30 days’ notice.

Genasys Inc. returned to profitability on sharply higher revenue in its March 31, 2026 quarter. Revenue for the quarter rose to $15,505, up from $6,932 a year earlier, driven largely by hardware sales. Net income was $723, compared with a net loss of $6,139 in the prior-year quarter, and basic EPS improved to $0.02 from a loss of $0.14 per share. For the first six months, revenue reached $32,570, versus $13,872 a year ago, with operating income of $930 instead of a double-digit million loss. Cash, cash equivalents and restricted cash declined to $1,516 as of March 31, 2026, while notes payable at fair value were $14,610. One customer accounted for 66% of quarterly revenue, much of it tied to the Puerto Rico Early Warning System project, underscoring both momentum and customer concentration.