Genasys Inc. ( (GNSS) ) has released its Q1 earnings. Here is a breakdown of the information Genasys Inc. presented to its investors.
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Genasys Inc. is a global leader in Protective Communications Solutions, providing comprehensive software and systems for emergency warning, mass notification, and critical event management. The company caters to various sectors, including state and local governmental agencies, enterprise organizations, and the military across more than 100 countries.
In its fiscal first quarter of 2025, Genasys Inc. reported a revenue increase to $6.9 million, marking a 59.1% rise from the previous year. The company highlighted significant progress in their Early Warning System in Puerto Rico and growing interest in their software solutions, EVAC and CONNECT, particularly following their role in facilitating evacuations during the recent Los Angeles fires.
Key financial metrics for the quarter included a GAAP net loss reduction to $4.1 million, compared to $6.7 million in the previous year, and an improvement in adjusted EBITDA to a loss of $4.8 million from $6.1 million. The gross profit margin also saw an improvement to 45.8%, driven by increased software revenue and better overhead absorption.
Looking forward, Genasys is optimistic about substantial growth driven by a record backlog and strong project prospects, particularly in Puerto Rico. The company anticipates sequential improvements in software revenue throughout fiscal 2025, though at a moderated pace compared to the previous year.