| Genasys Inc. Condensed Consolidated Balance Sheets (Unaudited - in thousands) June 30, 2023 September 30, (unaudited) 2022 ------------- ----------------- ASSETS Current assets: Cash and cash equivalents $ 2,971 $ 12,736 Short-term marketable securities 3,549 6,397 Restricted cash 755 100 Accounts receivable, net 10,353 6,744 Inventories, net 7,950 6,008 Prepaid expenses and other 1,683 3,577 --------- ----------- Total current assets 27,261 35,562 Long-term marketable securities 392 781 Long-term restricted cash 96 823 Deferred tax assets, net 7,399 7,373 Property and equipment, net 1,666 1,757 Goodwill 10,348 10,118 Intangible assets, net 8,958 10,505 Operating lease right of use asset 4,094 4,541 Prepaid expenses and other - noncurrent 547 394 Total assets $ 60,761 $ 71,854 ========= =========== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 3,324 $ 2,334 Accrued liabilities 8,182 12,083 Operating lease liabilities, current portion 998 948 --------- ----------- Total current liabilities 12,504 15,365 --------- ----------- Other liabilities, noncurrent 116 907 Operating lease liabilities, noncurrent 4,551 5,189 --------- ----------- Total liabilities 17,171 21,461 --------- ----------- Total stockholders' equity 43,590 50,393 --------- ----------- Total liabilities and stockholders' equity $ 60,761 $ 71,854 ========= =========== Genasys Inc. Condensed Consolidated Statements of Operations (Unaudited - in thousands except per share amounts) Three months ended Nine months ended June 30, June 30, 2023 2022 2023 2022 (unaudited) (unaudited) (unaudited) (unaudited) ------------- ------------- ------------- --------------- Revenues $ 14,262 $ 14,152 $ 35,962 $ 37,997 Cost of revenues 7,567 7,289 19,510 18,654 ---- ------ ---- ------ ---- ------ ---- ------ Gross profit 6,695 6,863 16,452 19,343 ---- ------ ---- ------ ---- ------ ---- ------ Operating expenses: Selling, general and administrative 6,004 5,785 18,443 16,794 Research and development 2,141 1,707 6,357 5,314 ---- ------ ---- ------ ---- ------ ---- ------ Total operating expenses 8,145 7,492 24,800 22,108 ---- ------ ---- ------ ---- ------ ---- ------ Loss from operations (1,450) (629) (8,348) (2,765) Other income and expense, net 1 9 (4) 12 ---- ------ ---- ------ ---- ------ ---- ------ Loss before income taxes (1,449) (620) (8,352) (2,753) Income tax benefit (26) (31) (18) (367) ---- ------ ---- ------ ---- ------ ---- ------ Net loss $ (1,423) $ (589) $ (8,334) $ (2,386) ==== ====== ==== ====== ==== ====== ==== ====== Net loss per common share: Basic and diluted $ (0.04) $ (0.02) $ (0.23) $ (0.07) ==== ====== ==== ====== ==== ====== ==== ====== Weighted average common shares outstanding: Basic and diluted 37,053 36,567 36,855 36,459 ==== ====== ==== ====== ==== ====== ==== ====== Reconciliation of GAAP measures to non-GAAP measures Net loss $ (1,423) $ (589) $ (8,334) $ (2,386) Other income and expense, net (1) (9) 4 (12) Income tax benefit (26) (31) (18) (367) Depreciation and amortization 636 638 1,918 1,920 Stock based compensation 396 355 1,329 1,650 ---- ------ ---- ------ ---- ------ ---- ------ Adjusted EBITDA $ (418) $ 364 $ (5,101) $ 805 ==== ====== ==== ====== ==== ====== ==== ====== |
