Genasys Inc. Receives $15.7 Million U.S. Army Program of Record Follow-On Order

Rhea-AI Summary

Genasys Inc. (NASDAQ: GNSS) has secured a $15.7 million follow-on order for its LRAD 450XL systems from the U.S. Army under the Acoustic Hailing Device Program. This investment supports the Army's commitment to non-lethal communication capabilities, enhancing operational versatility for Active, Reserve, and Guard units. The LRAD 450XL's advanced performance allows for long-range communication and can be mounted across various platforms. Genasys continues to serve over 100 countries, providing critical communication solutions for defense and public safety.

Positive

• Received a $15.7 million follow-on order from the U.S. Army.
• The LRAD 450XL enhances long-range communication capabilities.
• Supports military operations, reducing non-combatant casualties.

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• None.

SAN DIEGO, June 28, 2022 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions, today announced a follow-on $15.7 million LRAD 450XL systems order from the U.S. Army (Army). Genasys received the order under the Army's Acoustic Hailing Device (AHD) Program of Record.

"The LRAD 450XL provides Soldiers with unparalleled long-range communication, scalable, non-kinetic escalation of force capabilities and mission versatility," said Richard S. Danforth, Chief Executive Officer of Genasys Inc. "This order demonstrates the Army's ongoing commitment to non-lethal capabilities that expand the range of options for Active, Reserve and Guard units engaged in combat, crisis response, and security cooperation operations."

Low profile, lightweight and designed to be mounted on tripods, vehicles, small vessels and Common Remotely Operated Weapon Stations (CROWS), the LRAD 450XL generates the audio output of AHDs almost twice its size and weight, while delivering the highly effective, long-range communication inherent in all LRAD systems.

From combat operations to disaster response and humanitarian assistance, today’s military forces are required to support the full spectrum of missions. LRAD systems broadcast attention-commanding alert tones and audible voice messages with exceptional clarity and intelligibility to communicate clearly, resolve uncertain situations, reduce non-combatant casualties, 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 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 in service in more than 100 countries in a range of diverse markets and applications, including defense, law enforcement, homeland security, public safety, emergency warning, mass notification, critical event management, and more. 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 is the recent order amount for Genasys Inc. from the U.S. Army?

Genasys Inc. received a $15.7 million order from the U.S. Army.

What product did Genasys Inc. provide under the U.S. Army's Acoustic Hailing Device Program?

Genasys supplied the LRAD 450XL systems to the U.S. Army.

How does the LRAD 450XL benefit military operations?

The LRAD 450XL provides long-range communication and non-lethal escalation of force.

In how many countries does Genasys Inc. operate?

Genasys operates in more than 100 countries.

What is the significance of the LRAD 450XL in military applications?

It allows for effective communication to resolve uncertain situations and enhance mission safety.