Genasys Inc. Announces New Government and Enterprise GEM Software Contracts

Rhea-AI Summary

Genasys Inc. (NASDAQ: GNSS) has announced new multi-year contracts for its Emergency Management (GEM) software in six states, including MetLife Stadium in New Jersey. These agreements cover 13 counties and over 430,000 residents. CEO Richard S. Danforth noted that GEM has replaced competitor services in most new contracts, reinforcing the software's growing footprint across 17 states and four countries. Genasys anticipates further government and enterprise contracts this fiscal year, enhancing real-time safety alerts through multiple communication channels.

Positive

• Secured multi-year contracts for GEM software, including MetLife Stadium.
• Covers 13 counties and over 430,000 residents, expanding market reach.
• GEM has replaced competitor services, indicating strong product demand.
• Growing business pipeline with expectations for additional contracts.

Negative

• None.

SaaS Contracts Include MetLife Stadium, plus 13 Counties and 4 Cities in Six States

SAN DIEGO, June 15, 2022 (GLOBE NEWSWIRE) --  Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help keep people safe, today announced new, multi-year Genasys Emergency Management (GEM) software-as-a-service (SaaS) contracts in Indiana, New Jersey, New York, Oklahoma, Texas and Washington. The contracts include an enterprise emergency management services agreement with MetLife Stadium in East Rutherford, New Jersey.

"Our GEM software has replaced competitors' services in almost all of the new contracts we have announced to date," said Richard S. Danforth, Chief Executive Officer, Genasys Inc. "GEM is currently used by cities, counties, agencies, and enterprises in 17 U.S. states and four countries to help protect citizens, employees, and event spectators."

Mr. Danforth added, "The new GEM contracts include 13 counties in Indiana, Oklahoma and Texas. More than 430,000 city and county residents are covered by GEM under these government agreements. Our software business pipeline continues to grow, and we anticipate announcing several more government and enterprise contracts this fiscal year."

GEM empowers governments and enterprises to better protect people with real-time life safety alerts. Using GEM, emergency managers send notifications through multiple channels, including voice calls, SMS messages, email, desktop alerts, social media, IPAWS, and other delivery systems to help ensure critical communications are received by people in harm's way.

About Genasys Inc.

Genasys^® is a global provider of critical communications systems and solutions that help protect and keep people safe. Genasys' unified multichannel platform empowers governments and businesses to deliver real-time geo-targeted alerts, notifications, instructions, and information before, during, and after public safety and enterprise threats.

The Company’s unified software-as-a-service and hardware platform includes Genasys Emergency Management (GEM), Zonehaven™ emergency evacuation resources, National Emergency Warning System (NEWS), Integrated Mass Notification System (IMNS), and LRAD^® long-range communication systems.

Genasys systems are helping to protect millions of people in more than 100 countries. 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 Section 21E of the Securities Exchange Act of 1934. 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 health crises or outbreaks of disease, such as epidemics or pandemics and how they 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, 2021. Genasys Inc. disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.

FAQ

What new contracts did Genasys Inc. announce for GNSS on June 15, 2022?

Genasys Inc. announced new multi-year SaaS contracts for its GEM software, including an agreement with MetLife Stadium and 13 counties across six states.

How many residents are covered under Genasys' new GEM contracts?

The new GEM contracts cover over 430,000 residents in Indiana, Oklahoma, and Texas.

What is the significance of GEM software for Genasys Inc.?

GEM software provides real-time life safety alerts, and its adoption has increased as it replaced competitor services in most new contracts.

Which states are included in Genasys' new GEM contracts?

The new contracts are in Indiana, New Jersey, New York, Oklahoma, Texas, and Washington.

What does Genasys Inc. anticipate for the future regarding contracts?

Genasys anticipates announcing several more government and enterprise contracts within the fiscal year.