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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 expanded its emergency communication services to three Utah counties—Daggett, Duchesne, and Uintah—replacing previous systems. This move enhances disaster readiness across 39 counties in five Western states. In California, Genasys’ Zonehaven has been instrumental in conveying flooding alerts amid severe weather conditions affecting areas impacted by past wildfires. CEO Richard Danforth highlighted that tens of millions of residents now benefit from Genasys' services. The company underscores its role in ensuring timely alerts through various communication channels during emergencies.
Genasys Inc. (NASDAQ: GNSS) announces a multi-year SaaS contract with Monterey County, California, enhancing emergency management for its 430,000 residents. This aligns with Genasys' strategic shift towards higher-margin recurring revenue, with significant growth in California and expansion into 19 states. The company’s critical communications systems are now utilized by 16.3 million Californians, with GEM and Zonehaven systems leading the field. This deployment aims to improve public safety during disasters and emergencies, driven by a focus on software solutions.
Genasys Inc. (NASDAQ: GNSS) has announced CEO Richard Danforth and CFO Dennis Klahn's participation in the 2022 Security Investor Conference on December 15, 2022, at the InterContinental New York Barclay. They will host a group presentation at 4:15 p.m. ET and conduct one-on-one meetings. A webcast of the presentation will be available on the Genasys Investor Relations website. The SIC is a leading conference focusing on security solutions and offers networking opportunities with key industry leaders.
Genasys reported a 15% increase in annual revenue, reaching $54.0 million, for the fiscal year ending September 30, 2022. Key highlights include a positive Adjusted EBITDA and significant growth in the SaaS platform, expanding into 7 countries and 21 California counties. Despite a net loss of $16.2 million due to a $13.2 million goodwill impairment, the firm maintains a strong cash position with $19.9 million available. The CEO anticipates continued revenue growth for fiscal 2023, driven by software services and international sales.
Genasys Inc. has expanded its critical communications systems in California, with multi-year Zonehaven software contracts signed with four counties: Calaveras, Del Norte, Madera, and Shasta. This follows its use in over 50 incidents this year alone. The contracts aim to reduce evacuation times significantly and advance Genasys' SaaS strategy. The company's software supports real-time evacuation alerts amid various public safety threats, enhancing its presence in California's emergency management sector.
Genasys has secured a multi-year software-as-a-service (SaaS) contract with Riverside County, California, enhancing its Zonehaven evacuation resources. This partnership follows the county's selection of Genasys Emergency Management as its public safety alerting provider. The contract encompasses the Integrated Mass Notification System, aiming to improve wildfire safety for over 2.5 million residents. CEO Richard Danforth highlighted the growth potential of Genasys' unified platform in delivering critical communications during emergencies.
Genasys Inc. (NASDAQ: GNSS) will announce its financial results for the fiscal year ending September 30, 2022, on November 30, 2022, following market close. A conference call is scheduled for 4:30 p.m. ET to discuss the results. Participants can join via toll-free or international dial-in numbers, or through a webcast available on the company's website. Genasys provides critical communication systems to ensure safety, with a platform that supports millions across over 100 countries.
Genasys (NASDAQ: GNSS) has secured a five-year contract with San Diego County for its Genasys Emergency Management (GEM) software services, enhancing public safety communications for over 5.8 million residents. This contract marks the second such agreement in Southern California, following a similar contract with Riverside County. GEM will replace the county's previous notification system, providing critical alerts and information during emergencies. The platform aims to improve responses to disasters like wildfires and earthquakes, benefiting over 15 million Californians statewide.
Genasys Inc. (NASDAQ: GNSS) announced follow-on orders for LRAD systems totaling $840,000 aimed at bird and wildlife preservation in hazardous areas such as mining operations in northern Canada. These systems, integrated with avian radar from DeTect, Inc., utilize focused acoustic output to broadcast predator calls and warning tones effectively. LRAD's technology ensures sound is concentrated in a 30° beam, improving deterring capabilities over traditional methods. The systems are rugged and can transmit sounds up to 3,000 meters.
Genasys (NASDAQ: GNSS) announced its participation in the Stephens Annual Investment Conference from November 15-17, 2022, held at the Grand Hyatt Nashville. CEO Richard Danforth and CFO Dennis Klahn will engage in a fireside chat on November 17 at 10:00 AM CT. One-on-one meetings will also be conducted on the same day. A webcast of the presentation will be accessible on the Investor Relations section of Genasys' website, highlighting its commitment to providing critical communication systems that enhance safety globally.
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