New LRAD Systems to Enhance Security at Hoover Dam

Rhea-AI Summary

Genasys Inc. (NASDAQ: GNSS) has received an order from the U.S. Bureau of Reclamation for LRAD 950NXT integrated surveillance, security, and first response systems to enhance security at Hoover Dam. These systems will replace the first-generation LRADs that have been providing critical infrastructure protection since 2016.

The upgraded 950NXTs feature Genasys Protect software with comprehensive functionality and easy-to-use controls. They enable operators to identify potential threats on live video feeds, position the system's pan & tilt drive, and broadcast clear warning tones and voice messages up to 3,000 meters away.

The 950NXT includes an integrated HD camera, high-intensity searchlight (optional), and robust pan-and-tilt drive. When integrated with radar or motion sensors, it provides automated intruder alerts, functioning as an unmanned perimeter security and first response system.

Positive

• Received order for LRAD 950NXT systems from U.S. Bureau of Reclamation for Hoover Dam
• Upgrading existing systems to enhance security and safety around Hoover Dam
• 950NXT systems offer improved functionality and range (up to 3,000 meters)
• Potential for increased demand due to $185 million federal allocation for dam rehabilitation

Negative

• None.

Insights

Security Systems Analyst

The upgrade to LRAD 950NXT systems at Hoover Dam represents a significant enhancement in critical infrastructure protection. These advanced systems offer improved surveillance, security and first response capabilities compared to their predecessors. Key features include:

• Integration with HD cameras and high-intensity searchlights
• Pan-and-tilt functionality for precise targeting
• Long-range acoustic device with a 3,000-meter range
• Field-upgradeable software for future enhancements

This upgrade aligns with the broader $185 million federal allocation for dam rehabilitation, indicating a growing focus on infrastructure security. For Genasys, this order reinforces their position in the critical infrastructure protection market, potentially leading to similar contracts for other high-value facilities. However, the impact on overall company financials may be without disclosure of the contract value.

Infrastructure Investment Analyst

The Hoover Dam upgrade highlights a important trend in infrastructure investment, particularly in security and modernization of critical assets. This contract, while specific to Genasys, reflects a larger market opportunity:

• Aging infrastructure across the U.S. requires significant upgrades
• Increased focus on security for vital facilities post-9/11
• Growing demand for advanced, integrated security solutions

The $185 million federal allocation for dam rehabilitation suggests a sustained commitment to infrastructure improvement. For investors, this signals potential growth in sectors related to infrastructure security, modernization and maintenance. Companies specializing in these areas, like Genasys, may see increased demand as similar projects unfold across the country. However, it's important to note that such contracts can be sporadic and highly competitive, which may impact consistent revenue growth.

Remotely Operated LRAD 950NXTs Replacing First Generation LRADs at National Landmark

SAN DIEGO, Oct. 01, 2024 (GLOBE NEWSWIRE) --  Genasys Inc. (NASDAQ: GNSS), the global leader in Protective Communications, today announced an LRAD 950NXT integrated surveillance, security, and first response systems order from the U.S. Bureau of Reclamation for Hoover Dam. Genasys’ LRAD systems have provided Hoover Dam critical infrastructure protection (CIP) and dam security capabilities since 2016.

“Upgrading to 950NXTs strengthens security around Hoover Dam and enhances safety in the Lake Mead and Lake Mohave (Colorado River) restricted water areas by keeping boaters and fishermen away from the dam,” said Richard Danforth, Chief Executive Officer of Genasys. “Our 950NXT’s field upgradeable Genasys Protect 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 pan & tilt drive to target the threat, and then broadcast attention-commanding warning tones and voice messages with exceptional clarity out to 3,000 meters.”

Utilizing technology developed and patented by Genasys, the 950NXT provides security personnel additional time and information to accurately assess situations and appropriately scale responses. Featuring an integrated HD camera, high-intensity searchlight (optional), and robust pan-and-tilt drive, when integrated with radar or motion sensors the 950NXT provides automated intruder alerts and becomes a fully functional, unmanned perimeter security and first response system.

Genasys’ LRAD systems have been utilized for decades to protect critical infrastructure throughout the U.S. and around the globe. Genasys is a trusted source of CIP for dams, nuclear facilities, offshore oil platforms, and other vital facilities. The recent U.S. federal allocation of $185 million for dam rehabilitation is a prime example of the near constant demand for infrastructure maintenance, improvement, and protection.

About Genasys Inc.

Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications. Incorporating the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as the Company’s Long Range Acoustic Devices (LRAD^®), the Genasys Protect platform is designed around one premise: ensuring organizations and public safety agencies are “Ready when it matters™.” Protecting people and saving lives for over 40 years, Genasys covers more than 70 million people in over 100 countries worldwide, including more than 550 U.S. cities. 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 geopolitical conflicts, epidemics or pandemics, 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, 2023. Genasys Inc. disclaims any intent or obligation to publicly update or revise forward-looking statements, except as otherwise specifically stated.

FAQ

What new security systems is Genasys (GNSS) providing for Hoover Dam?

Genasys (GNSS) is providing LRAD 950NXT integrated surveillance, security, and first response systems to enhance security at Hoover Dam, replacing the first-generation LRADs installed in 2016.

What are the key features of the LRAD 950NXT system ordered for Hoover Dam?

The LRAD 950NXT system features Genasys Protect software, an integrated HD camera, high-intensity searchlight (optional), robust pan-and-tilt drive, and the ability to broadcast clear warning tones and voice messages up to 3,000 meters away.

How does the new LRAD 950NXT system improve security at Hoover Dam?

The LRAD 950NXT system improves security by providing operators with live video feeds to identify threats, positioning capabilities to target threats, and the ability to broadcast warning messages. It can also integrate with radar or motion sensors for automated intruder alerts.

What is the significance of the $185 million federal allocation mentioned in the Genasys (GNSS) press release?

The $185 million federal allocation for dam rehabilitation indicates a potential increase in demand for infrastructure maintenance, improvement, and protection services, which could benefit Genasys (GNSS) as a provider of critical infrastructure protection systems.