Genasys Receives $2.7 Million U.S. Navy Order for LRAD Maritime Systems
Genasys has received a $2.7 million order from the U.S. Navy for its LRAD 1000Xi maritime systems, a part of the Navy’s ongoing efforts to replace first-generation LRADs. This new system offers enhanced over-the-water communication and self-protection capabilities, allowing operators to identify threats and escalate force as necessary. The LRAD 1000Xi is designed for reliable operation in extreme conditions and can broadcast clear messages up to 3,000 meters. Genasys' systems are also utilized by over 31 international navies and coast guards for various maritime missions.
- Genasys received a $2.7 million order from the U.S. Navy, reflecting strong demand for its products.
- The new LRAD 1000Xi systems replace older models, indicating a continuous product improvement.
- LRAD 1000Xi offers clear communication over 3,000 meters, enhancing operational capabilities.
- Genasys’ systems are in use by over 31 international navies and coast guards, demonstrating global trust and market penetration.
- The LRAD 1000Xi is designed for reliable operation in extreme conditions, highlighting its durability and effectiveness.
- The order value of $2.7 million may not significantly impact the overall financial status of Genasys.
- The press release does not mention any new revenue streams, relying heavily on existing military contracts.
- There is no information on the potential risks or challenges in fulfilling this order, which could impact delivery timelines.
Insights
The $2.7 million order from the U.S. Navy is substantial for Genasys Inc., a company with a market cap in the range of
This procurement not only underscores the Navy's trust in Genasys' technology but also highlights the competitive edge and market positioning of the company in the Protective Communications sector. The mention of more than 4,000 deployed systems and usage by thirty-one international navies signals robust market penetration and provides a strong foundation for future growth and international expansion. Given the increasing global geopolitical tensions and the need for enhanced maritime security, Genasys is well-positioned to capitalize on these dynamics. The global market for such technologies is expanding and Genasys stands to benefit from this trend.
The LRAD 1000Xi system is a technological marvel in the field of long-range communication. Its ability to deliver clear messages over distances up to 3,000 meters makes it invaluable for naval operations. This level of performance, ensuring clear communication even amidst wind, engine and background noise, sets a high standard in the industry. For investors, this indicates that Genasys' product offerings are not only advanced but important for the demanding conditions faced by military operations. While the technology is impressive, continued innovation will be key to maintaining this competitive edge as new advancements emerge.
SAN DIEGO, May 15, 2024 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in Protective Communications, today announced a
“LRAD systems have enhanced Navy ships’ over-the-water communications and self-protection for more than 20 years,” said Richard Danforth, Chief Executive Officer of Genasys. “LRAD provides operators more time and distance to determine the intent of potential threats not responding to radio calls and to initiate and scale escalation of force (EOF) protocols accordingly.”
Mr. Danforth continued, “In addition to the more than 4,000 LRAD systems deployed with the U.S. Military, thirty-one (31) international Navies and Coast Guards are using LRADs for a variety of missions including establishing vessel exclusion zones and restricted areas, port and harbor security, search and rescue, boarding and interdiction operations, and ship self-defense.”
Featuring rugged military construction for reliable operation in extreme maritime conditions, the LRAD 1000Xi delivers audible hails, notifications, warnings and commands that are clearly heard and understood over wind, engine and background noise. LRAD's ultra-intelligible voice messages and attention-commanding alert tones ensure communication from close range out to 3,000 meters (about 1.9 miles) to determine intent, de-escalate dangerous situations and save lives.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications Solutions and Systems, designed around one premise: ensuring organizations and public safety agencies are “Ready when it matters™.” The company provides the Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as Genasys Long Range Acoustic Devices (LRAD®) that deliver directed, audible voice messages with intelligible vocal clarity from close range to 5,500 meters. Genasys serves state and local governmental agencies, and education (SLED); enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive; and federal governments and the military. Genasys Protective Communications Solutions have diverse applications, including emergency warning and mass notification for public safety, critical event management for enterprise companies, de-escalation for defense and law enforcement, and automated detection of real-time threats like active shooters and severe weather. Protecting people and saving lives for over 40 years, Genasys covers more than 70 Million people in over 100 countries worldwide, including more than 500 U.S. cities, counties and states. For more information, visit genasys.com.
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FAQ
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