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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) secured a $9.7 million follow-on order from the U.S. Army for the LRAD 450XL under the Acoustic Hailing Device program. This is the third order in fiscal 2021, aimed at enhancing military communication and security operations. The LRAD 450XL is lightweight and adaptable for various platforms, ensuring critical long-range communication capabilities. Genasys continues to solidify its role as a leader in critical communications systems, providing solutions for defense and law enforcement globally.
Genasys Inc. (NASDAQ: GNSS) announced the Southern Marin Fire Protection District ordered Integrated Mass Notification Systems (IMNS) for five locations in Marin County, CA, enhancing emergency response capabilities against wildfires. The IMNS, already effective in Mill Valley since 2019, includes solar power and battery backup. The emergency systems will be managed with Genasys Emergency Management software. Additionally, the Marin Wildfire Prevention Authority procured Zonehaven for evacuation planning, strengthening public safety resources during crises.
Genasys Inc. (NASDAQ: GNSS) has acquired Zonehaven, a SaaS provider specializing in emergency evacuation planning. The acquisition, finalized on June 7, 2021, enhances Genasys' GEM platform by integrating Zonehaven's innovative solutions, which are used by numerous public safety agencies across California and Oregon for managing evacuations. This move is aimed at improving emergency preparedness amid increasing crises like wildfires and severe weather. Genasys expects this acquisition to boost its competitive edge and recurring revenue growth.
Genasys Inc. (NASDAQ: GNSS) has received a follow-on order from the U.S. Army worth $9.0 million for its 360XT Mobile Mass Notification Systems (MMNS), marking the largest order for mass notification systems to date. This order is a result of collaboration with the Army over the past four years and is expected to enhance communication capabilities for military operations. The 360XT systems will provide emergency alerts on forward operating bases, featuring high Speech Intelligibility Index ratings and a robust design for enduring field conditions.
Genasys Inc. (NASDAQ: GNSS) announced a multi-year renewal of software support from the Iowa City VA, enhancing its GEM Emergency Management system with TRM certification to operate on VA networks. This upgrade includes advanced alert systems that integrate fire, access control, and emergency response technologies. The GEM system provides comprehensive notification channels, ensuring safety and redundancy for staff during critical events, marking a significant advancement in public safety communications.
Genasys Inc. successfully integrated its National Emergency Warning System (NEWS) Cell Broadcast Center (CBC) with the University of Málaga's 4G and 5G core network. This collaboration involved rigorous testing of the CBC in various demanding environments, ensuring reliable message generation, sending, and reception across multiple mobile phone models. Genasys' systems are now operational in 72 countries, providing critical communication solutions for public safety and emergency management.
Genasys Inc. (NASDAQ: GNSS) reports a 37% year-over-year revenue increase to $11.3 million for Q2 FY2021, driven by significant growth in the Genasys Emergency Management (GEM), Integrated Mass Notification Systems (IMNS), and LRAD® Acoustic Hailing Devices segments. Net income was $0.3 million or $0.01 per share, a slight decrease from the previous year. Gross profit margin fell to 47.2% due to increasing personnel costs. First half revenues reached $19.3 million, up 13% YoY, yet operating expenses rose by 21%. Cash reserves stood at $26.4 million. Genasys anticipates continued growth in the second half of fiscal 2021.
Genasys (NASDAQ: GNSS) announced participation in the 6th Annual Oppenheimer Emerging Growth Conference on May 11, 2021. Members of its executive team will engage in one-on-one meetings with investors during the event.
The conference will take place virtually from 9:05 a.m. to 4:25 p.m. Eastern Time (6:05 a.m. to 1:25 p.m. Pacific Time). Interested parties can schedule meetings through Genasys Investor Relations.
Genasys provides critical communication systems globally, serving over 500 U.S. cities and 72 countries.
Genasys Inc. (NASDAQ: GNSS) has secured an $18.3 million follow-on order from the U.S. Army, pushing its fiscal year 2021 bookings past those of fiscal year 2020. CEO Richard S. Danforth anticipates more key awards in the second half of the fiscal year, positioning the company for record revenues. The LRAD 450XL system enhances military communication capabilities, aiding in critical decision-making during security threats. Genasys operates in 72 countries, providing solutions in defense, public safety, and emergency management.
Genasys Inc. (NASDAQ: GNSS) will announce its fiscal second quarter financial results on May 13, 2021, after market close. A conference call to discuss these results is scheduled for 4:30 p.m. Eastern Time. Genasys, a leader in critical communications systems, aims to enhance public safety through its comprehensive communication solutions, which are operational in 72 countries and over 450 U.S. cities. For participation, call details include a toll-free number for U.S. and Canadian listeners and an international line.
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