Genasys Inc. Reports Challenging Year with Optimistic Outlook

Genasys Inc. ( (GNSS) ) has released its Q4 earnings. Here is a breakdown of the information Genasys Inc. presented to its investors.

Genasys Inc. is a global leader in Protective Communications Solutions and Systems, providing services for public safety, critical event management, and threat detection, serving various sectors including government, education, and enterprise organizations. In its fiscal year 2024 earnings report, Genasys Inc. highlighted a challenging financial year with decreased revenue and significant losses, yet noted record bookings and strategic contracts setting the stage for future growth. Key financial metrics were notably down from the previous year, with a revenue drop from $46.7 million in fiscal 2023 to $24.0 million in fiscal 2024, and a GAAP net loss of $31.7 million compared to $18.4 million the prior year. Despite financial setbacks, Genasys Inc. achieved several strategic milestones, including a $75 million contract for dam projects in Puerto Rico and various contracts with governmental agencies, highlighting growth in software bookings and international hardware sales. As Genasys Inc. enters fiscal 2025, the company is optimistic about leveraging its $40 million backlog and strategic contracts to potentially achieve the best top-line performance in its history.