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Genasys Inc. (NASDAQ: GNSS) is a global leader in Protective Communications Solutions and Systems designed to help keep people safe. Founded in 1980 and headquartered in San Diego, the company specializes in directed and multidirectional sound technologies, voice broadcast products, and location-based mass messaging solutions for emergency warning and workforce management. With its flagship Genasys Protect platform, the company offers a comprehensive portfolio of preparedness, response, and analytics software and systems.
Genasys initially captured attention with the development of the Long Range Acoustic Device® (LRAD®) in response to the 2000 attack on the USS Cole. The LRAD system revolutionized the acoustic hailing device market by delivering clear voice messages over long distances, which are now utilized globally for applications ranging from military deployments and maritime security to public safety and wildlife control.
The company's operations are segmented into Hardware and Software, with the majority of its revenue generated from the Hardware segment. Geographically, its primary revenue comes from the Americas, but it also maintains a significant presence in the Asia Pacific and EMEA regions.
Genasys' recent projects highlight its ongoing innovation and market influence. For instance, the company recently announced its involvement in Project AWARE, which aims to integrate the Galileo Emergency Warning Satellite Service (EWSS) into public warning systems. Genasys' LRADs and other technologies will be key components in this European initiative to enhance public safety during disasters.
Financially, Genasys is stable, backed by a secured loan agreement and strategic partnerships, including a recent collaboration with Telespazio France and the European Emergency Number Association for Project AWARE. The company continues to secure contracts with various governmental and enterprise clients, reflecting its robust market position and growth potential.
Genasys’ solutions are diverse and serve multiple sectors, including state and local governmental agencies, educational institutions, critical enterprise sectors such as oil and gas, utilities, manufacturing, and automotive, as well as federal governments and military organizations. Applications range from emergency warning and mass notification to critical event management, de-escalation for defense and law enforcement, and automated threat detection.
For over 40 years, Genasys has been protecting people and saving lives worldwide, covering over 70 million individuals across more than 100 countries. The company's dedication to innovation and public safety continues to position it as a foremost leader in the protective communications industry.
For more information, visit genasys.com.
Genasys Inc. (NASDAQ: GNSS) reported a 17% revenue increase to $13.2 million for Q2 fiscal 2022, driven by stronger LRAD and IMNS sales. Gross margin improved to 52.9%, up from 46.5% year-over-year. However, operating expenses rose by 59% to $7.5 million, leading to a net loss of $0.5 million, compared to a profit in the same quarter last year. Adjusted EBITDA was $0.9 million. The backlog increased 73% to $23.9 million, supporting a positive outlook for the remainder of the fiscal year.
Genasys Inc. (NASDAQ: GNSS) announced multi-year contracts for its Zonehaven evacuation management software with Plumas County, California, and Josephine County, Oregon. These contracts emphasize the growing momentum in Genasys' higher-margin software business. Zonehaven aims to reduce evacuation times from hours to minutes and has been essential during significant wildfire events. The expansion into Oregon, with Josephine County being the first to deploy Zonehaven, highlights the increasing demand for comprehensive safety solutions in disaster management.
Genasys Inc. (NASDAQ: GNSS) has secured multi-year contracts for its Emergency Management (GEM) and Zonehaven solutions, enhancing safety for over 10 million residents across several states, including California, Colorado, Georgia, Kentucky, Missouri, and Texas. Notably, Colorado Springs will implement Zonehaven for emergency evacuations. These services provide crucial real-time updates on evacuations, weather, and traffic. The company anticipates additional contracts this quarter, reinforcing its role as a leader in critical communications systems.
Genasys Inc. (NASDAQ: GNSS) has announced its first international installation of the Integrated Mass Notification Systems (IMNS) powered by Genasys Emergency Management (GEM) software at a utility facility in Japan. The new Edge 600 control cabinet enhances mass notification capabilities and can be operated remotely. Additionally, Genasys secured its first IMNS order from the U.S. Army, valued over $10 million, for installations at Ft. Bliss, Texas. The Edge 600 system is designed for rugged environments and compatible with third-party systems.
Genasys Inc. (NASDAQ: GNSS) announced plans to release its financial results for the fiscal second quarter, ended March 31, 2022, on May 9, 2022, after market close. A conference call will follow at 4:30 p.m. Eastern Time to discuss the results. The call can be accessed via a toll-free dial-in number for U.S. and Canadian participants, and an international dialing option is also available. Genasys specializes in critical communications solutions, serving clients in over 100 countries.
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.
Genasys Inc. (NASDAQ: GNSS) announced a new cooperative purchasing contract with Sourcewell, enabling more than 50,000 government, educational, and non-profit organizations to directly purchase its critical communications systems. This contract, awarded after a competitive bidding process, streamlines procurement while ensuring compliance with local requirements. Genasys is currently the only provider of unified emergency mass notification and smart evacuation management solutions available through Sourcewell contracts, enhancing its capability to support public safety initiatives.
Genasys Inc. (NASDAQ: GNSS) reported a 33% revenue growth year-over-year for the fiscal first quarter, totaling $10.7 million. The CEO noted solid performance amid ongoing supply chain challenges, emphasizing investments in staffing and resources for their Software-as-a-Service (SaaS) business. While gross profit margin was stable at 45.9%, operating expenses surged 48% to $6.5 million, leading to a net loss of $1.3 million. Despite the losses, the company remains optimistic about its growth outlook amid strong demand for critical communication systems.
Genasys Inc. (NASDAQ: GNSS) announced a multi-year contract for its Zonehaven software with Los Angeles County, enhancing emergency management for 1.4 million residents. This follows previous contracts covering 8.7 million Californians. The Zonehaven platform enables efficient evacuation planning, real-time alerts, and improved coordination among emergency services. CEO Richard Danforth anticipates further contracts in California and beyond this fiscal year. Genasys specializes in critical communications systems for public safety, operating in over 100 countries.
Genasys Inc. (NASDAQ: GNSS) has secured multi-year contracts for its Genasys Emergency Management (GEM) software services with the Texas Office of the Attorney General, Madison County, and the Town of Little Elm. The renewed contract with Texas OAG enhances case worker safety through GEM's Desktop Panic feature. Additionally, new agreements replace existing emergency notification services in Madison County and Little Elm. The company also expanded its services at the Port of Houston, introducing visitor management and alert systems to enhance safety measures.
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