| To: Savant who wrote (230) | 4/26/2023 9:55:11 AM | | From: Savant | | | | Santa Cruz and San Benito Counties Select Genasys to Power Public Safety Alerts and Notifications
Genasys Protect(TM) Platform Helped to Safeguard Millions of California Residents & Visitors During January and March Atmospheric River Events
SAN DIEGO, April 26, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help keep people safe, today announced Santa Cruz and San Benito counties have entered into new multi-year Genasys Protect software-as-a-service (SaaS) contracts. Genasys is providing public safety notification and evacuation management services for 30 California counties.
Santa Cruz County has actively used Genasys Protect's Zonehaven evacuation management since the CZU Complex Fire in 2020. In the first three months of this year, the county managed multiple evacuations from storm surges, river and urban flooding, debris flows, and road closure incidents. Hundreds of thousands of Californians accessed the Genasys AWARE site throughout the atmospheric river events to check the evacuation status of their neighborhoods and for other critical information.
"The extension of the Genasys Protect platform in Santa Cruz County is the result of the exceptional performance of our Zonehaven software and support team during the severe weather," said Richard Danforth, Chief Executive Officer, Genasys, Inc. "This SaaS contract further expands the county's use of the Genasys Protect platform to enhance the safety of its 270,000 residents and 3 million annual visitors. With Genasys, the contiguous counties of Santa Cruz, San Benito, and Monterey will be able to more efficiently coordinate emergency notifications and evacuation management during regional crises."
Sharing the benefits of Zonehaven, Lieutenant Nick Baldrige, Santa Cruz County Sheriff's Office, recounted, "With the atmospheric river storm on New Year's Day, we weren't expecting the level of flooding we received. However, we knew this event was going to be prolonged for multiple storms. So, we had to ask ourselves, 'How do we plan for the rest of the event?' During a lull before the next major system hit, we created scripts for every zone and crafted Zonehaven messaging that was readily available. During evacuations, we identified the zones that were being impacted, which allowed us to push messaging out quickly to the public using the Zonehaven AWARE app. Zonehaven allowed us to communicate with our community and get real-time information to the people who needed it."
Mr. Danforth continued, "Genasys Protect gives first responders and emergency management officials the combined power of multichannel alerting and evacuation management only available from Genasys. With more tools to pre-plan, collaborate, model, and execute multichannel public safety notifications, timely evacuations, and safer repopulations, the Genasys Protect platform is helping to save lives during floods, debris flows, landslides, wildfires, and other critical events in California and in other regions."
Paul Neyman, Vice President of SaaS Sales for Genasys, added, "County officials need an emergency management system capable of warning and informing the public through multiple outlets, including smartphone apps (like Waze), voice calls, social media, and public address systems. They also need a common operating picture to collaborate with each other, their sister agencies, federal emergency systems, related support agencies, and particularly the public. By providing both live polygons for Wireless Emergency Alerts, critical communications, and evacuation management, the Genasys Protect platform is the ideal solution for safeguarding residents and visitors during multi-hazard incidents. |
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| From: Savant | 7/27/2023 10:59:28 AM | | | | | | Boulder County Selects Genasys Inc. to Expand Emergency Communication Coverage in Colorado
Genasys Protect(TM) powers public safety alerts for over 16% of Colorado, elevating emergency planning, response, and alerting for communities.
SAN DIEGO, July 27, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global provider of Protective Communications solutions, today announced a new multi-year contract for Genasys Protect(TM) Platform with Boulder County Colorado extending Genasys coverage in the state to 10 counties and two cities as agencies continue to modernize emergency response and critical communications and management.
Boulder County joins many Colorado communities prone to wildfires and floods in deploying Genasys solutions. Together, the network of Genasys users across jurisdictions have emergency preparation and response solutions with a flexible data foundation that can aggregate and distill crucial information. They can execute emergency response plans and take action based on a complete and unified operating picture, helping to meet the specific needs of emergency management and the public they aim to protect.
Boulder Fire launched Genasys in late 2022, on the one-year anniversary of the Marshall Fire, a grass fire in Boulder County that became the most destructive fire in the state's history. Using zone-based planning and predictive simulation, the decision assistance around critical evacuation facilities is aiding Boulder first responders with evacuation planning.
"The Office of Disaster Management for the City of Boulder and Boulder County is excited to have Genasys Protect coverage across the region, including all municipalities and special districts," said Michael Chard, Director of the Office of Disaster Management. "This solution enhances the public's understanding of evacuation orders with an accessible map, additional messaging support, and locations of evacuation sites, shelters, and road closures. It also provides valuable operational decision-making support for first responders, offering detailed data on critical evacuation sites, fire modeling, and evacuation routes. Genasys Protect's integration with our emergency notification system in the coming year will further elevate it as a valuable alerting tool, community preparedness program, and operational planning, training, and decision support platform."
To date, over 12 cities and counties in Colorado have implemented Genasys. In addition, Genasys solutions are in more than 500 cities, counties and states in the U.S. -- including 34 of 58 counties in California alone -- to ensure organizations and public safety agencies are Ready when it matters(TM).
"Boulder County sets the bar high in emergency response management, and Genasys is proud to support their efforts," said Paul Neyman, VP of Sales, Genasys, Inc. "Our tech-forward approach enables firefighters to evacuate areas by highlighting zones on a preloaded map, providing seamless coordination among jurisdictions and real-time updates to the public for effective emergency response."
Genasys Protect is a SaaS-based platform offering a comprehensive preparedness, response, and analytics software and systems portfolio. It combines real-time zone-based mapping, mass notification technology, and long-range acoustic devices for audible alerts. It facilitates a unified operating picture among emergency management, law enforcement, fire services, and the community. With integrated multichannel communications across various platforms, including an interactive web and mobile app that keeps people informed about critical events in their zones and surrounding areas, Genasys Protect empowers effective planning and management before, during, and after critical events, revolutionizing emergency management capabilities and ensuring safety.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global provider of Protective Communications Solutions, offering Genasys Protect, the first and only complete portfolio of Protective Communications Software and Systems. Through Genasys Protect, the Company serves the following markets and sectors: federal governments and the military; state and local governments, agencies, and education (SLED); and enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive. Genasys Protective Communications Solutions have a diverse range of applications, including emergency warning and highly customizable mass notification for public safety; critical event management for enterprise companies; de-escalation for defense and law enforcement; as well as automatic detection of real-time threats like active shooters and severe weather. Genasys today protects over 70 million people globally and is used in more than 100 countries, including more than 500 cities, counties and states in the U.S. For more information, visit genasys.com.
Forward-Looking Statements
Except for historical information contained herein, the matters discussed are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. |
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| From: Savant | 8/11/2023 12:17:20 PM | | | | | | Genasys Inc. Reports Fiscal Third Quarter 2023 Financial Results
Genasys Protect Re-Brand and Launch Underway
SAN DIEGO, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the leader in Protective Communications solutions, today announced financial results for the Company's fiscal third quarter ended June 30, 2023.
Richard S. Danforth, Chief Executive Officer of Genasys, Inc., commented, "As expected, revenues for the June quarter improved versus the second quarter and were in line with the year-ago quarter. Adjusted EBITDA improved sequentially but was lower year over year, reflecting the ongoing investment in Genasys Protect. With recurring revenue up 47% year over year, and year-to-date software bookings up 180%, I am more confident than ever in our strategic investment in diversifying our business."
Mr. Danforth continued, "The steady growth and expansion of our recurring software revenue footprint is gaining momentum. Recent competitive wins in Colorado, Texas, and the East Coast of the United States further demonstrate the value we are delivering with Genasys Protect(TM). Based on existing orders and orders currently in contracting, we have secured over $5 million of ARR, up 100% year over year. We anticipate that the rebranding launch commenced earlier this week, combined with the rollout of new Genasys Protect sales and marketing initiatives this fall, will further accelerate software ARR and revenue growth next fiscal year."
Fiscal 3Q 2023 Financial Highlights
-- Revenue of $14.3 million, versus $14.2 million in 3Q 2022 -- GAAP operating loss of ($1.5) million, versus, ($0.6) million in 3Q 2022. -- Adjusted EBITDA loss of ($0.4) million, versus profit of $0.4 million in 3Q 2022. -- GAAP net loss per share of ($0.04) versus ($0.02) in 3Q 2022.
Business Highlights
-- Executed branding relaunch, with an updated website, go to market, and product UI. -- Expanded coverage to 16% of Colorado with Boulder County's adoption of Genasys Protect. -- Selected for first statewide contract for Genasys Protect. -- Awarded protective communications contract in a large East Coast city, displacing a keycompetitor -- Received $10.7 million follow-on AHD program of record order from U.S. Army
Business Outlook
Software bookings are tracking ahead of internal expectations. Recent competitive wins and our brand relaunch earlier this week provide added confidence in our solutions and go-to-market approach. While our hardware pipeline continues to grow, delays in closing associated orders continue to challenge this year's revenues. As a result, we are realigning our resources accordingly. Genasys expects Fiscal 2023 to be down from Fiscal 2022 with fourth quarter revenues approximately 5% below the prior quarter.
Fiscal 3Q 2023 Financial Summary
Fiscal Third quarter revenue was $14.3 million, an increase of 0.8% from $14.2 million in the prior year's quarter. Software revenue increased 27.9% and hardware revenue decreased 0.7%, compared with the fiscal 2022 third quarter.
Gross profit margin was 46.9%, compared with 48.5% in the third quarter of fiscal 2022. The improvement comes from hardware pricing beginning to reflect higher component costs and the somewhat higher mix of software revenues, which carry higher gross margins.
Operating expenses were $8.1 million, compared with $7.5 million in the same period a year ago. Selling, general and administrative expenses increased 3.8% from $5.8 million in the prior year to $6.0 million in the quarter ended June 30, 2023. Research and development expenses increased 25.4% year-over-year from the addition of 12% more engineers over the prior year to increase the features and functionality of our software offerings.
GAAP net loss in the quarter was $1.4 million, or ($0.04) per share, compared with a GAAP net loss of $0.6 million, or ($0.02) per share, in the third quarter of fiscal 2022. The increase in net loss was primarily due to the increased operating expenses resulting from additional engineering, sales and marketing employees.
Adjusted EBITDA was ($0.4) million for the third quarter of fiscal 2023, compared with $0.4 million for the prior fiscal year period.
Year To Date Fiscal 2023 Financial Summary
Revenue for the first nine months of fiscal 2023 was $36.0 million, compared with $38.0 million in the same period last year.
Gross profit margin was 45.7%, compared with 50.9% in the first nine months of fiscal 2022. The decrease in gross profit margin was due primarily to the higher cost of components costs in fiscal 2023 orders that were booked prior to inflationary component cost increases being realized, and lower overall sales volume.
Operating expenses were $24.8 million, compared with $22.1 million in the same period a year ago. The increase was largely due to a 9.8% increase in selling, general and administrative expenses, primarily related to strategic growth spending to accelerate SaaS revenue, and a 19.6% increase in research and development expenses related to the hiring of additional software engineers.
GAAP net loss was $8.3 million, or $(0.23) per diluted share, compared with a net loss of $2.4 million, or $(0.07) per share, in the prior year period. The increase in net loss was primarily attributable to the increased cost of sales due to higher component costs and higher operating expenses, which resulted from hiring additional software engineering, sales, and marketing employees.
Adjusted EBITDA was $(5.1) million for the first nine months of fiscal 2023, compared with $0.8 million in the first nine months of fiscal 2022.
Cash, cash equivalents and marketable securities totaled $6.9 million on June 30, 2023, compared with $19.9 million on September 30, 2022. Accounts Receivable at quarter end totaled $10.4 million versus $6.7 million on September 30, 2022. Since quarter end, significant collections have been made and as of last Friday, August 4th, our Cash, cash equivalents and marketable securities balance was approximately $9 million.
We include in this press release Non-GAAP operational metrics of adjusted EBITDA and bookings, which we believe provide helpful information to investors with respect to evaluating the Company's performance. Adjusted EBITDA represents our net income before other income, net, income tax expense (benefit), depreciation and amortization expense and stock-based compensation. We do not consider these items to be indicative of our core operating performance. The items that are non-cash include depreciation and amortization expense and stock-based compensation. Adjusted EBITDA is a measure used by management to understand and evaluate our core operating performance and trends and to generate future operating plans, make strategic decisions regarding allocation of capital and invest in initiatives that are focused on cultivating new markets for our solutions. In particular, the exclusion of certain expenses in calculating adjusted EBITDA facilitates comparisons of our operating performance on a period-to-period basis. We consider bookings as leading indicators of future revenues and use these metrics to support production planning. Bookings is an internal, operational metric that measures the total dollar value of customer purchase orders executed in a period, regardless of the timing of the related revenue recognition.
Webcast and Conference Call Details
Management will host a conference call to discuss the financial results for the third quarter of fiscal year 2023 this afternoon at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time. To access the conference call, dial toll-free (888) 390-3967, or international at (862) 298-0702. A webcast will also be available at the following link: webcaster4.com
Questions to management may be submitted before the call by emailing them to: ir@genasys.com. A replay of the webcast will be available approximately four hours after the presentation on the page of the Company's website.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications Solutions and Systems, designed around one premise: ensuring organizations and public safety agencies are "Ready when it matters(TM)". The company provides the Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as Genasys Long Range Acoustic Devices (LRAD(R) ) that deliver directed, audible voice messages with exceptional vocal clarity from close range to 5,500 meters. Genasys serves state and local governmental agencies, and education (SLED); enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive; and federal governments and the military. Genasys Protective Communications Solutions have diverse applications, including emergency warning and mass notification for public safety, critical event management for enterprise companies, de-escalation for defense and law enforcement, and automated detection of real-time threats like active shooters and severe weather. Today, Genasys protects over 70 million people globally and is used in more than 100 countries, including more than 500 cities, counties, and states in the U.S. For more information, visit genasys.com.
Forward-Looking Statements |
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| To: Savant who wrote (233) | 8/11/2023 12:39:26 PM | | From: Savant | | | | | 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 ==== ====== ==== ====== ==== ====== ==== ====== |
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| From: Savant | 9/5/2023 11:49:24 AM | | | | | | Vietnam Ministry of Defense Expands Genasys Contract for Naval Frigates
Leading Protective Communications Company Receives $1.9 Million Order from Vietnam
SAN DIEGO, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in protective communications solutions, today announced a new, $1.9 million LRAD-500X-RE and 1000XI order from the Vietnam Military of Defense (MOD). The new multi-year program will add Genasys long-range acoustic hailing devices (LRADs) to the country's Naval frigates. This latest order brings the Vietnam MOD's total investment in Genasys LRAD solutions since 2019 to $4.8 million USD.
"Since 2019, we've partnered with the Vietnam MOD, delivering top-of-the-line LRAD solutions to their Navy, Coast Guard, Army, and Border Guard. " said David Schnell, VP of Global Business Development for Genasys Inc. "Given the current geo-political tensions in the Asia-Pacific region, the addition of LRADs to Vietnam's frigates will add significant capabilities to the vessels including ship self defense and the ability to de-escalate potentially dangerous situations before they expand."
The LRAD-500X-RE and 1000XI are state-of-the-art, manually operated AHDs that provide non-kinetic, scalable escalation of force capabilities and clear, long range communications to distances of 2,000 and 3,000 meters respectively. Since 2005, twenty six international Navies and Coast Guards have followed the US Navy's lead by adding LRADs to their surface fleets. This most recent LRAD order from Vietnam further demonstrates the world's militaries' commitment to Genasys' technologies.
Genasys LRAD systems are deployed in more than 100 countries and 500 U.S cities in diverse applications, including public safety, law enforcement, defense, border and homeland security, critical infrastructure protection, fire rescue, emergency management, maritime and port security, and wildlife control and preservation.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications Solutions and Systems, designed around one premise: ensuring organizations and public safety agencies are "Ready when it matters(TM)." The company provides the Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as Genasys Long Range Acoustic Devices (LRAD(R)) that deliver directed, audible voice messages with intelligible vocal clarity from close range to 5,500 meters. Genasys serves state and local governmental agencies, and education (SLED); enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive; and federal governments and the military. Genasys Protective Communications Solutions have diverse applications, including emergency warning and mass notification for public safety, critical event management for enterprise companies, de-escalation for defense and law enforcement, and automated detection of real-time threats like active shooters and severe weather. Today Genasys protects over 70 million people globally and is used in more than 100 countries, including more than 500 cities, counties, and states in the U.S. For more information, visit genasys.com.
Forward-Looking Statements |
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| From: Savant | 9/28/2023 12:52:31 PM | | | | | | GNSS.
finance.yahoo.com
SAN DIEGO, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (“Genasys” or the “Company”) (Nasdaq: GNSS), the leader in Protective Communications solutions, today announced the pricing of its previously announced underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $2.00 per share of common stock, for gross proceeds of $10 million, before underwriting discounts and commissions and offering expenses. In addition, the Company has granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock at the public offering price per share of common stock, less the underwriting discounts and commissions. The offering is expected to close on or about October 2, 2023, subject to customary closing conditions.
Roth Capital Partners is acting as the sole book-running manager and Joseph Gunnar & Co., LLC is acting as co-manager for the offering.
The Company intends to use the net proceeds from the offering for general corporate purposes, including funding organic growth, working capital, capital expenditures, and continued research and development with respect to products and technologies, as well as costs related to post-closing integration with Genasys of the Evertel business and research and development activities related to the integrated business.
A shelf registration statement on Form S-3 (File No. 333-274161) relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (the "SEC") and is effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the preliminary prospectus supplement and accompanying prospectus will be filed with the Securities and Exchange Commission and, when available, may be obtained from Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by accessing the SEC's website, www.sec.gov.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications Solutions and Systems, designed around one premise: ensuring organizations and public safety agencies are “Ready when it matters™.” The company provides the Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as Genasys Long Range Acoustic Devices (LRAD®) that deliver directed, audible voice messages with intelligible vocal clarity from close range to 5,500 meters. Genasys serves state and local governmental agencies, and education (SLED); enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive; and federal governments and the military. Genasys Protective Communications Solutions have diverse applications, including emergency warning and mass notification for public safety, critical event management for enterprise companies, de-escalation for defense and law enforcement, and automated detection of real-time threats like active shooters and severe weather. Today Genasys protects over 70 million people globally and is used in more than 100 countries, including more than 500 cities, counties, and states in the U.S. For more information, visit genasys.com. |
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| From: Savant | 10/4/2023 4:37:49 PM | | | | | | Genasys Announces Closing of $10 Million Public Offering of Common Stock
SAN DIEGO, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. ("Genasys" or the "Company") (Nasdaq: GNSS), the leader in Protective Communications solutions, today announced the closing of its previously announced underwritten public offering of 5,750,000 shares of its common stock at a public offering price of $2.00 per share of common stock, which includes the full exercise of the underwriters' option to purchase 750,000 additional shares of common stock to cover over-allotments. The Company received gross proceeds of approximately $11.5 million from the offering, before underwriting discounts and commissions and offering expenses.
Roth Capital Partners acted as the sole book-running manager and Joseph Gunnar & Co., LLC acted as co-manager for the offering.
The Company intends to use the net proceeds from this offering for general corporate purposes, including funding organic growth, working capital, capital expenditures, and continued research and development with respect to products and technologies, as well as costs related to post-closing integration with the Company of the Evertel business and research and development activities related to the integrated business.
A shelf registration statement on Form S-3 (File No. 333-274161) relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (the "SEC") and is effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the preliminary prospectus supplement and accompanying prospectus have been filed with the Securities and Exchange Commission and may be obtained from Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by accessing the SEC's website, www.sec.gov.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications Solutions and Systems, designed around one premise: ensuring organizations and public safety agencies are "Ready when it matters(TM)." The company provides the Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as Genasys Long Range Acoustic Devices (LRAD(R)) that deliver directed, audible voice messages with intelligible vocal clarity from close range to 5,500 meters. Genasys serves state and local governmental agencies, and education (SLED); enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive; and federal governments and the military. Genasys Protective Communications Solutions have diverse applications, including emergency warning and mass notification for public safety, critical event management for enterprise companies, de-escalation for defense and law enforcement, and automated detection of real-time threats like active shooters and severe weather. Today Genasys protects over 70 million people globally and is used in more than 100 countries, including more than 500 cities, counties, and states in the U.S. For more information, visit genasys.com.
Safe Harbor / Forward-Looking Statements |
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| To: Savant who wrote (238) | 10/4/2023 4:39:13 PM | | From: Savant | | | | Genasys Completes Acquisition of Evertel
Genasys and Evertel Strengthen Protective Communications with Enhanced Agency Collaboration
SAN DIEGO, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in protective communications systems and solutions, today announced that it has completed the acquisition of Evertel Technologies, the leading cross-agency collaboration platform for public safety.
"As the complexity, intensity, and frequency of disasters increase, mass notification is no longer adequate. Protective communications must be a stronger, strategic pillar that incorporates planning and collaboration across first responder agencies while also efficiently relaying that information to the affected community" said Richard Danforth, Chief Executive Officer of Genasys Inc. "Evertel's solution set is complementary to the Genasys Protect platform as it expands proactive planning and real-time collaboration to accelerate emergency response time and improve execution."
"The Evertel team is excited to join forces with Genasys" said Chief (Ret.) Jeff Halstead, President & co-founder of Evertel. "The synergy between our teams, product alignment and customer focused operating principles make our companies very complementary to drive adoption of compliant communication practices in mission critical operations."
Planning, collaboration, and communication are key aspects of inter and intra agency partnership to mitigate and respond to an emergency. With the combined Genasys Protect and Evertel solution set, our customers will benefit from an extensive toolset for the entire lifecycle of an incident. Operating as a virtual Emergency Operations Center (EOC), the combined platform will be an extension of the tools that first responders use daily to drive response efficiency. Advanced post action analytics offered on the platform make it possible to enhance planning for the next incident. The partnership of Genasys Protect and Evertel is creating a new era of compliant collaboration and communication redundancy.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications Solutions and Systems, designed around one premise: ensuring organizations and public safety agencies are "Ready when it matters(TM)." The company provides the Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as Genasys Long Range Acoustic Devices (LRAD(R)) that deliver directed, audible voice messages with intelligible vocal clarity from close range to 5,500 meters. Genasys serves state and local governmental agencies, and education (SLED); enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive; and federal governments and the military. Genasys Protective Communications Solutions have diverse applications, including emergency warning and mass notification for public safety, critical event management for enterprise companies, de-escalation for defense and law enforcement, and automated detection of real-time threats like active shooters and severe weather. Today, Genasys protects over 70 million people globally and is used in more than 100 countries, including more than 500 cities, counties, and states in the U.S. For more information, visit genasys.com.
About Evertel Technologies
Evertel is a secure & compliant mission-critical collaboration platform for the public safety market that brings the right people, information, and tools together in one space. Our intuitive platform helps agencies of all sizes--small towns, big cities, and everything in between--to work together more effectively to protect their communities and save lives.
Forward-Looking Statements |
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| From: Savant | 11/7/2023 9:54:27 AM | | | | | | Vegas Sphere...'sounds' like it's using Hypersonic Sound technology
Las Vegas Sphere: How Did They Do It? (designnews.com)
The challenge with loudspeakers in traditional venues is that audio quality diminishes with distance from the speakers because of uncontrolled sound wave propagation.
HOLOPLOT’s 3D Audio-Beamforming technology uses algorithms to create highly controlled and more efficient soundwaves than conventional speakers. This helps ensure that sound levels and quality remain consistent from the loudspeaker to the listener, even over large distances.
This precision even lets performance venues send unique audio content to specific locations in the venue, creating the possibility for different sections to hear completely different content, such as languages, music, or sound effects.
Not only that, but the system can generate a virtual point of origin for sound so that it doesn’t seem like the sound is coming from the speakers. The company says this capability can make a listener think they are hearing a whisper in their ear rather than a sound generated by a distant loudspeaker.
“From the beginning, HOLOPLOT has been focused on radically transforming audio technology, rethinking the underlying physics of sound reproduction as we know it,” said HOLOPLOT’s CEO, Roman Sick. “Working alongside Sphere Studios on Sphere Immersive Sound has been a truly thrilling opportunity for our team, challenging us to extend the boundaries of our technology at an unparalleled scale and create a revolutionary listening experience.” |
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