Genasys Inc. Receives New Emergency Management Software Services Contract from the West All Hazards Region of Colorado

Rhea-AI Summary

On September 21, 2022, Genasys Inc. (NASDAQ: GNSS) announced a multi-year contract for its Genasys Emergency Management (GEM) software-as-a-service (SaaS) with Colorado's West All Hazards Region. The GEM system will replace a competitor's service and is aimed at enhancing public safety during various emergencies, including wildfires and severe weather. CEO Richard Danforth highlighted the importance of GEM in safeguarding Colorado's communities, which are prone to year-round fire seasons. This agreement follows Genasys' previous contract with Colorado Springs, indicating growing adoption of its SaaS solutions in the region.

Positive

• Genasys secured a multi-year GEM SaaS contract with Colorado's West All Hazards Region.
• The GEM software will replace a competitor's service, indicating market share gain.
• The agreement enhances emergency management capabilities during various threats.

Negative

• None.

SAN DIEGO, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help keep people safe, today announced a multi-year Genasys Emergency Management (GEM) software-as-a-service (SaaS) contract from Colorado's West All Hazards Region (West Region), which includes Delta, Gunnison, Hinsdale, Montrose, Ouray, and San Miguel counties. GEM is replacing a competitor's software service.

"Genasys' comprehensive emergency management solution and Colorado's year-round fire season were catalysts in facilitating our first GEM agreement in the state," said Richard Danforth, Chief Executive Officer, Genasys Inc. "Home to some of Colorado's most visited National Forests and tourist destinations, West Region public safety officials will use GEM to help inform and protect people during wildfires, flooding, severe storms, active shooter threats, and other life safety hazards."

Mr. Danforth added, "Last April's Zonehaven contract with the City of Colorado Springs and the West Region's GEM agreement demonstrate the ongoing adoption of Genasys SaaS solutions by Colorado emergency management agencies."

GEM empowers public safety agencies and organizations to deliver emergency notifications through multiple channels, including voice calls, SMS, email, desktop alerts, social media, IPAWS, and other delivery methods, to help ensure critical communications are received before, during, and after crisis situations.

About Genasys Inc.

Genasys^® is a global provider of critical communications systems and solutions. 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.

Genasys' critical communications platform 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 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 contract did Genasys Inc. announce on September 21, 2022?

Genasys Inc. announced a multi-year contract for its Genasys Emergency Management (GEM) software-as-a-service with Colorado's West All Hazards Region.

What is the purpose of the GEM software by Genasys?

The GEM software is designed to support public safety agencies in delivering emergency notifications and managing crisis situations.

Which counties are included in Colorado's West All Hazards Region contract with Genasys?

The contract includes Delta, Gunnison, Hinsdale, Montrose, Ouray, and San Miguel counties.

How does the GEM system improve emergency management in Colorado?

The GEM system enhances emergency management by enabling notifications through multiple channels, ensuring timely communication during crises.