Genasys Inc. Awarded Contract to Provide Critical Notifications to Aramco

Rhea-AI Summary

Genasys Inc. (NASDAQ: GNSS) has secured a significant contract with Aramco to supply its Genasys Emergency Management (GEM) software. The contract, awarded through a competitive bidding process, allows Aramco to utilize GEM for geo-targeted, multichannel notifications to employees in emergency situations. CEO Richard Danforth highlighted this as a major achievement, reflecting confidence in Genasys' Software-as-a-Service (SaaS) solutions. The GEM platform integrates with various systems to enhance communication during emergencies and aims to protect workers, contractors, and visitors effectively.

Positive

• Secured a significant contract with Aramco for GEM software.
• Won the contract over other leading mass notification providers.
• GEM enhances communication capabilities for emergency notifications.

Negative

• None.

Agreement Signed to Supply Genasys Emergency Management Software

SAN DIEGO, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help protect and keep people safe, today announced a contract with Aramco for Genasys Emergency Management (GEM) enterprise services. Genasys was awarded the contract by Aramco over other leading mass notification software providers as a result of a competitive bidding process.

Richard Danforth, Chief Executive Officer, Genasys Inc. said, "This award from one of the world's leading companies is a significant win for Genasys and our emergency management Software-as-a-Service (SaaS). Under the contract, Aramco will use GEM to create, manage, and deliver geo-targeted, multichannel notifications to employees if risk is detected."

Peter Ayre, Vice President of Sales (Middle East, Africa and Central Asia), Genasys Inc. commented, "By simultaneously sending critical communications through SMS, voice calls, email, and other channels, our cloud-based SaaS solution will provide Aramco employees many ways to receive real-time alerts during an emergency."

Mr. Danforth added, "Our SaaS team is working with Aramco's technical engineers on implementing GEM company-wide."

GEM is easily integrated with active directories, Human Resources, visitor management, and building control systems to empower enterprise customers to protect workers, traveling employees, contractors, and visitors. By adding a powerful and intuitive orchestration and management layer on top of existing physical and digital infrastructure, GEM extends the clarity, reach and range of critical communications.

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, businesses, and organizations to deliver real-time geo-targeted alerts, notifications, 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.

The Genasys critical communications platform is helping to protect millions of people in more than 100 countries throughout the world. 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, the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, and other federal securities laws. 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. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in any forward-looking statement. The risks and uncertainties in these forward-looking statements include without limitation the business impact of epidemics or pandemics, geopolitical conflict, and other causes 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 publicly update or revise forward-looking statements, except as otherwise specifically stated.

FAQ

What contract did Genasys sign recently with Aramco?

Genasys signed a contract to supply its Genasys Emergency Management (GEM) software to Aramco.

What is the significance of the Genasys contract with Aramco?

The contract is significant as it showcases Genasys' ability to win against top competitors in mass notification systems.

What features does the GEM software provide for Aramco?

GEM provides geo-targeted, multichannel notifications for emergency situations, enabling real-time alerts via SMS, voice calls, and email.

What does the new contract mean for Genasys' market position?

This contract strengthens Genasys' market position as a leader in critical communication solutions.

When was the contract with Aramco announced?

The contract was announced on February 9, 2023.