Genasys Inc. Initiates Shipments of New LRAD® 950NXT – The World's Most Advanced Acoustic Hailing Device

Rhea-AI Summary

Genasys Inc. (NASDAQ: GNSS) has commenced shipments of its LRAD 950NXT, a state-of-the-art communication and response system. The company is fulfilling $3.2 million in naval orders, including $1.8 million from the French Navy and $1.4 million from the Spanish Navy. Demand is high for the 950NXT amidst rising global security concerns. This system enhances threat identification and communication capabilities, integrating advanced features like automated security alerts when combined with sensors. Genasys continues to grow its footprint in critical communications across over 100 countries.

Positive

• Secured $3.2 million in new naval orders, enhancing revenue visibility.
• Strong demand for the advanced LRAD 950NXT system amidst geopolitical tensions.
• Innovative features and integration capabilities could lead to broader market adoption.

Negative

• None.

Company Fulfilling $3.2 Million in New and
Previously Announced International Naval Orders

Experiencing Strong Demand for Next Generation
Remotely-Operated, Long Range Communication System

SAN DIEGO, April 12, 2022 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help protect and keep people safe, today announced the first shipments of its LRAD 950NXT (950NXT), the Company's most advanced integrated communication, surveillance, security, and response system to date.

"The world is becoming more dangerous as geo-political turmoil, regional conflicts, and infrastructure disruptions are increasing in intensity and frequency," said Richard Danforth, Chief Executive Officer of Genasys Inc. "The 950NXT utilizes our proprietary technology to identify and interact with potential threats from a safe distance to provide defense forces and security personnel more time and information to accurately assess situations and appropriately scale responses.

"$1.8 million in previously announced LRAD 950RXL orders received from the French Navy instigated the development of our next generation 950NXT," continued Mr. Danforth. "In addition to the French Navy's order change to 950NXT systems, the Spanish Navy placed a $1.4 million 950NXT order last month."

Mr. Danforth added, "We're experiencing strong interest and order demand for our newest, most advanced LRAD system. Along with the naval forces orders from France and Spain, order commitments for super-yachts, and from critical infrastructure facilities, including ports, utilities, and dams have also been received."

The 950NXT is a major advance in Genasys' remotely-operated LRAD systems.   Compared with previous LRAD-RX models, the electronics enclosure is now on top of the 950NXT to provide more accessory mounting capacity. In addition to the standard HD camera, optional accessories include high-intensity searchlight, laser range finder, laser dazzler, and infrared or night vision camera.

The 950NXT is operated using LRAD Controller software with heightened cybersecurity. The field upgradeable software has comprehensive functionality with easy-to-use controls that enable operators to identify possible threats on the live video feed, position the 950NXT’s IP-addressable full pan & tilt to target the threat, and then broadcast attention-commanding warning tones and voice messages with exceptional clarity from the safety of a command and control center. Integrations with third-party systems are also made easy with the 950NXT's API.

When integrated with radar or motion sensors, the 950NXT provides automated security alerts and becomes a fully functional, unmanned perimeter security and first response system that can alleviate the unnecessary use of force, resolve uncertain situations, and save lives.

About Genasys Inc.

Genasys^® is a global provider of critical communications systems and solutions that help protect and keep people safe.  The Company's unified critical communications platform includes Genasys Emergency Management (GEM) software-as-a-service, Integrated Mass Notification Systems (IMNS), Zonehaven™ emergency evacuation resources, National Emergency Warning Systems (NEWS), LRAD^® long-range voice broadcast systems, and more.

Genasys systems are in service in more than 100 countries in a range of diverse applications, including public safety, emergency warning, mass notification, critical event management, defense, law enforcement, homeland security, and other applications. 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 are the recent orders received by Genasys Inc. for the LRAD 950NXT?

Genasys Inc. has received $3.2 million in orders, including $1.8 million from the French Navy and $1.4 million from the Spanish Navy for the LRAD 950NXT.

How does the LRAD 950NXT enhance security and communication?

The LRAD 950NXT utilizes advanced technology for real-time threat identification and effective communication, allowing operators to respond from a safe distance.

What is the significance of the LRAD 950NXT in current global security?

The LRAD 950NXT addresses rising global security concerns by providing enhanced situational awareness and communication capabilities to defense and security forces.

How many countries utilize Genasys' critical communication systems?

Genasys' systems are in service in over 100 countries for applications in public safety, emergency warning, and defense.

What are the key features of the LRAD 950NXT?

Key features of the LRAD 950NXT include enhanced cybersecurity, automated security alerts, and integration with third-party systems for effective threat management.