Genasys Inc. Expands Critical Communications Coverage in San Diego County with New Zonehaven Contract

Rhea-AI Summary

Genasys Inc. (NASDAQ: GNSS) has secured a multi-year contract with San Diego County, California, to implement its Genasys Protect™ platform, enhancing public safety communication systems. This contract follows the previous adoption of the Genasys Emergency Management software to replace the county's old notification system. Under this initiative, multiple California jurisdictions are deploying the platform to ensure timely evacuation notifications and emergency alerts. The company has also appointed Brian Alger as Senior Vice President of Investor Relations, aiming to strengthen its corporate development efforts.

Positive

• Secured multi-year contract with San Diego County.
• Expansion of Genasys Protect platform to over 18 million California residents.
• Appointment of Brian Alger to enhance investor relations.

Negative

• None.

Genasys Protect™ Platform Enhances Public Safety of California’s Second Most Populous County

SAN DIEGO, March 30, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help keep people safe, today announced a new multi-year Zonehaven evacuation management software-as-a-service (SaaS) contract with San Diego County, California.

"San Diego joins Riverside County, Marin County, Alameda County, and other California jurisdictions deploying the full Genasys Protect platform to deliver multichannel public safety alerts, evacuation notifications, and life safety information to residents and visitors," said Richard Danforth, Chief Executive Officer, Genasys, Inc. "Genasys Protect is the first and only unified platform that provides comprehensive emergency management and multichannel communications solutions before, during, and after disasters and other critical events.

"Last November, San Diego entered into a Genasys Emergency Management (GEM) software contract to replace the county’s previous regional notification system," continued Mr. Danforth. "The county has also installed Genasys outdoor mass notification systems at several popular beaches to broadcast swimmer and beachgoer safety information. First responders, emergency management officials, and millions of county residents and visitors will now have access to our platform’s critical communications capabilities and resources."

Charlie Crocker, Senior Vice President of SaaS Products, Genasys Inc. said, "Time is of the essence during multi-hazard crises. Fast, data-driven decisions save lives and simplify communication between agencies, responders, and the public. Genasys is the only emergency communications provider that combines modeling, multi-outlet alerting, and comprehensive evacuation management into a seamless, easy-to-use platform."

Mr. Danforth added, "We continue to grow successful deployments of our Genasys Protect unified platform in the country’s most populous state. More than 18 million California residents and millions of visitors are covered by Genasys Protect. Additional jurisdictions in California, and in other states, are expected to implement our comprehensive suite of life safety solutions this fiscal year."

The Company also announced Brian Alger as Senior Vice President of Investor Relations and Corporate Development. Mr. Alger previously served as Senior Vice President, Corporate Development & Investor Relations, for Veritone, Inc. from 2019 – 2023. Prior to Veritone, he served as Managing Director, Investment Banking, and Head of Technology Research, for ROTH Capital Partners from 2015 – 2019. Mr. Alger has also served as Portfolio Manager for Wedbush Securities, as Senior Vice President, Sector Manager, for Strata Capital Management, and as Senior Analyst for Pacific Growth Equities and Preferred Capital Markets.

About Genasys Inc.

Genasys^® is a global provider of critical communications systems and solutions. The Genasys Protect™ unified 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 integrated software-as-a-service and hardware platform includes Genasys Emergency Management (GEM), Zonehaven^® evacuation management, National Emergency Warning System (NEWS), Integrated Mass Notification System (IMNS), and LRAD^® long-range communication systems.

Genasys is 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 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. 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 is the Genasys Protect platform and its significance for California's public safety?

The Genasys Protect platform enhances public safety in California by providing multichannel communication for emergency alerts, evacuations, and life safety information.

When was the contract with San Diego County announced?

The contract with San Diego County was announced on March 30, 2023.

What impact does the Genasys Protect contract have on GNSS stock?

The contract is likely to positively impact GNSS stock by expanding the company's revenue streams and increasing its market presence in California.

Who is Brian Alger and what is his role in Genasys?

Brian Alger is the newly appointed Senior Vice President of Investor Relations and Corporate Development at Genasys.

How many residents are covered by the Genasys Protect platform in California?

The Genasys Protect platform covers more than 18 million residents in California.