Genasys Inc
NASDAQ:GNSS
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Genasys Inc
Genasys, Inc. provides critical communications systems and solutions and multi-channel approach to deliver geo-targeted alerts, notifications, instructions and information before, during, and after public safety threats and critical business events. The company is headquartered in San Diego, California and currently employs 148 full-time employees. The Company’s principal markets are North and South America, Europe, Middle East and Asia. The firm operates through two segments: Hardware and Software. The Company’s product lines include Long Range Acoustic Device (LRAD) Systems and PSMN Hardware Systems. Its LRAD Systems provides LRAD 100X, LRAD 100X MAG-HS KIT, LRAD 450XL, LRAD 500X-RE, LRAD 950RXL, LRAD 1000Xi, LRAD 1950XL and LRAD 2000X. Its PSMN Hardware Systems provides Genasys DS-60X/DS-60XL, Genasys 360XL, Genasys 360XL-MID, Genasys 360XL-MID Mobile Kit, Genasys 360XT and Genasys SoundSaber-X.
Genasys, Inc. provides critical communications systems and solutions and multi-channel approach to deliver geo-targeted alerts, notifications, instructions and information before, during, and after public safety threats and critical business events. The company is headquartered in San Diego, California and currently employs 148 full-time employees. The Company’s principal markets are North and South America, Europe, Middle East and Asia. The firm operates through two segments: Hardware and Software. The Company’s product lines include Long Range Acoustic Device (LRAD) Systems and PSMN Hardware Systems. Its LRAD Systems provides LRAD 100X, LRAD 100X MAG-HS KIT, LRAD 450XL, LRAD 500X-RE, LRAD 950RXL, LRAD 1000Xi, LRAD 1950XL and LRAD 2000X. Its PSMN Hardware Systems provides Genasys DS-60X/DS-60XL, Genasys 360XL, Genasys 360XL-MID, Genasys 360XL-MID Mobile Kit, Genasys 360XT and Genasys SoundSaber-X.
Revenue Growth: Genasys reported Q3 revenue of $9.9 million, up 42% sequentially and 38% year over year, mainly driven by the Puerto Rico early warning system project.
Puerto Rico Project: The Puerto Rico contract contributed $4.3 million to revenue in the quarter, with future revenue and margin contributions expected to increase as the project progresses.
Gross Margin: Gross margin was 26.3%, down from previous periods due to percentage of completion accounting and less favorable hardware mix, but is expected to improve in coming quarters.
Cost Reductions: The company implemented targeted cost cuts, including a 19-person headcount reduction, aiming to save $2.5 million annually from fiscal Q1 2026.
Backlog Strength: The 12-month backlog reached $61 million at quarter-end, providing visibility and confidence despite recent booking slowdowns.
Funding Delays: Federal funding freezes and program cancellations have delayed $9 million in software bookings, impacting near-term software revenue.
CROWS Opportunity: The CROWS program is progressing, with an $8–8.5 million order being finalized and expectations for even larger revenue contributions in fiscal 2026 and beyond.
