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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) has secured a five-year contract to provide public alert and warning software services for Riverside County, California. Chosen over six competitors, Genasys will implement its GEM platform to enhance multi-channel emergency notifications for 2.5 million residents. The contract also includes FEMA IPAWS integration and subsystems for major cities. Recent deployments include several other California municipalities. This strategic win strengthens Genasys' position in the critical communications market, with expectations for additional government contracts in the fiscal year.
Genasys Inc. (NASDAQ: GNSS) announced a multi-year enterprise software services contract with a major automobile manufacturer, effective March 15, 2021. The contract establishes Genasys Enterprise software to deliver critical event notifications to over 15,000 employees across Canada and 12 U.S. states, replacing a competitor's system. This software integrates with various management systems to ensure workforce safety and operational continuity.
Genasys Inc. (NASDAQ: GNSS) announced a new project through its Canadian subsidiary to implement Contact Tracking™ software for the Government of Canada, focusing on COVID-19 tracking and vaccinations. The project, which was awarded after evaluating over 500 proposals, encompasses various communication channels, including two-way alerts via email, SMS, and mobile apps. The software ensures strict privacy protocols, anonymizing sensitive data. This initiative is part of the Genasys Emergency Management (GEM) platform, designed to enhance public safety and emergency response.
Genasys Inc (NASDAQ: GNSS), a leader in critical communications, will participate in the Stephens Virtual Best Ideas Conference on March 10, 2021. The company's executive management will present from 12:00 p.m. to 12:45 p.m. Eastern Time and engage in one-on-one meetings with registered investors. A replays of the webcast will be accessible via the Investor Relations section of their website. Genasys provides comprehensive communication systems that enhance public safety and emergency management across 72 countries and over 500 U.S. cities.
Genasys Inc. (NASDAQ: GNSS) has secured a four-year software services contract with the Spain Ministry of the Interior, enhancing its role in public safety and emergency communications. CEO Richard S. Danforth indicated that this contract could lead to additional software sales in Spain and the EU. This deal aligns with the EU’s EECC Article 110 initiative, which mandates a geo-located emergency communication system for mobile phones by June 2022. Genasys aims to improve its services through its NEWS system, which operates across SMS and Cell Broadcast channels.
Genasys Inc. (NASDAQ: GNSS) reported fiscal Q1 2021 revenues of $8.0 million, a decline from $8.8 million year-over-year, primarily due to delayed shipments. Gross profit margin fell to 46.1% from 52.4% due to increased engineering personnel and expenses. Operating expenses grew by 13% to $4.4 million, influenced by higher sales and marketing costs. The company incurred a net loss of $0.6 million, compared to a net income of $0.6 million in the same quarter last year. Despite this, Genasys announced record bookings of $12.2 million, indicating strong future revenue potential.
Genasys Inc. (NASDAQ: GNSS) has announced the opening of new offices in Singapore and Dubai to enhance its regional expansion efforts. The offices are operated by experienced sales professionals targeting Southeast Asia, the Middle East, Africa, and Central Asia. CEO Richard S. Danforth emphasized the growing demand for mass notification solutions, especially during the pandemic. The company has named Sean McKane and Peter Ayre as vice presidents for their respective regions, alongside Mauricio Tellez for Latin America. Genasys operates in 72 countries, providing critical communications solutions.
Genasys Inc. (NASDAQ: GNSS) announced a $5.1 million follow-on order for the LRAD 450XL from the U.S. Army, marking its third follow-on order in 2020. This order is part of the Army's Acoustic Hailing Device program, supported by the fiscal year 2020 Defense Appropriations Bill. The LRAD 450XL is recognized for its long-range communications capabilities and is used by military police and security units for various missions. Genasys expects additional orders in fiscal year 2021.
On December 21, 2020, Genasys (NASDAQ: GNSS) announced its inclusion in the Gartner Market Guide for Emergency/Mass Notification Services Solutions. The guide highlights the expanding use cases for emergency notification services, including active intruder alerts and pandemic management. CEO Richard S. Danforth emphasized that the GEM platform is a leader in integrated critical communications. Genasys' National Emergency Warning System further enhances its capabilities.
Genasys Inc. (NASDAQ: GNSS) has secured a competitive research and development contract from the U.S. Navy through the SBIR program. This contract aims to advance acoustic driver technologies that are smaller, lighter, louder, and more cost-effective. CEO Richard S. Danforth highlighted the partnership with the Department of Defense over the past 15 years, emphasizing the significance of this contract. Genasys' LRAD systems enhance naval communication and security operations for 27 global naval forces, contributing to defense and safety across various maritime operations.
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