Genasys says poised to deliver top and bottom line growth in FY25

The company said, “With record backlog entering fiscal 2025, Genasys (GNSS) is poised to deliver substantial growth to the top and bottom line, compared to the prior fiscal year. Most of the $40 million starting backlog is tied to the Puerto Rico project, which will primarily impact our P&L in the second half of the fiscal year, though cash receipts have already been meaningful. Long lead-time materials have been ordered and their delivery will be the primary determinant of when installation and implementation of the system can begin. Efforts are being made to accelerate deliveries, but timing remains uncertain. We continue to expect sequential improvement throughout fiscal 2025 in both our software revenues and ARR, though not at the rates of fiscal 2024.”