Genasys Inc. Announces $1M U.S. Army CROWS-AHD Prototype Contract

Rhea-AI Summary

Genasys Inc. announces $1 million contract with U.S. Army to design and build CROWS-AHD prototypes.

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• Genasys Inc. secures $1 million contract with U.S. Army for CROWS-AHD prototypes.

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• None.

Common Remotely Operated Weapon Stations (CROWS) enhanced with LRADs

SAN DIEGO, CA, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global provider of Protective Communications solutions, today announced a $1 million contract with the U.S. Army to design and build the first CROWS-AHD prototypes. This effort is a continuation of the CROWS-AHD Technical Feasibility Study that Genasys completed earlier this year.

“Adding LRAD 450XLs to CROWS is a natural extension of our successful U.S. Army AHD Program of Record,” said Richard S. Danforth, Chief Executive Officer of Genasys Inc. “This innovative merging of two existing technologies will improve operational effectiveness and reduce the incidence of non-combatant casualties.”

CROWS are stabilized weapons mounts with a sensor suite and fire control software that enables on-the-move target acquisition and engagement. The addition of an LRAD 450XL provides a non-kinetic, scalable escalation of force (EOF) capability that allows an operator to communicate and engage with a perceived threat prior to having to employ lethal force.

The feasibility study is being conducted by the Program Executive Office (PEO) Soldier, located in Ft. Belvoir, VA. PEO Soldier’s mission is to rapidly deliver agile/adaptive, leading edge Soldier capabilities in order to provide combat overmatch today and in the future.

The fiscal year 2024 defense appropriations bill is expected to provide initial funding for the CROWS-AHD program and Congress has expressed an interest in accelerating the fielding of this capability. The current contract funds the effort through May 2024.

About Genasys Inc.

Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications Solutions and Systems, designed around one premise: ensuring organizations and public safety agencies are “Ready when it matters™.” The company provides the Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as Genasys Long Range Acoustic Devices (LRAD®) that deliver directed, audible voice messages with intelligible vocal clarity from close range to 5,500 meters. Genasys serves state and local governmental agencies, and education (SLED); enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive; and federal governments and the military. Genasys Protective Communications Solutions have diverse applications, including emergency warning and mass notification for public safety, critical event management for enterprise companies, de-escalation for defense and law enforcement, and automated detection of real-time threats like active shooters and severe weather. Today, Genasys protects over 70 million people globally and is used in more than 100 countries, including more than 500 cities, counties, and states in the U.S. For more information, visit genasys.com.

Forward-Looking Statements

Except for historical information contained herein, the matters discussed are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these statements. We base these statements on particular assumptions that we have made in light of our industry experience, the stage of product and market development as well as our perception of historical trends, current market conditions, current economic data, expected future developments, and other factors that we believe are appropriate under the circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in the forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, including without limitation the business impact of epidemics or pandemics, geopolitical conflict, and other events that may affect our supply chain, and other risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. Risks and uncertainties are identified and discussed in our filings with the Securities and Exchange Commission. These forward-looking statements are based on information and management’s expectations as of the date hereof. Future results may differ materially from our current expectations. For more information regarding other potential risks and uncertainties, see the “Risk Factors” section of the Company’s Form 10-K for the fiscal year ended September 30, 2022. Genasys Inc. disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.

Investor Relations Contact
Brian Alger, CFA
SVP, IR and Corporate Development
ir@genasys.com
(858) 676-0582

Media Contact:
Anya Nelson
Scratch Marketing + Media for Genasys Inc.
genasyspr@scratchmm.com

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FAQ

What is the contract amount between Genasys Inc. and the U.S. Army?

The contract amount is $1 million.

What is CROWS-AHD?

CROWS-AHD refers to Common Remotely Operated Weapon Stations enhanced with LRADs.

What is the purpose of adding LRAD 450XLs to CROWS?

The addition of LRAD 450XLs provides a non-kinetic, scalable escalation of force capability.

Who is conducting the feasibility study for CROWS-AHD?

The feasibility study is being conducted by the Program Executive Office (PEO) Soldier.

When is the funding for the CROWS-AHD program expected?

The fiscal year 2024 defense appropriations bill is expected to provide initial funding for the program.