secwatch.observer — SEC 8-K summary
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Issuer:     Genasys Inc. (GNSS)
CIK:        0000924383
Form:       8-K
Filed at:   2022-11-30T23:59:59+00:00
Accession:  0001437749-22-028195
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Genasys reports FY2022 revenue $54M (+15%), net loss $16.2M, CEO gets amended agreement
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- FY2022 revenue $54.0M (+15% YoY); net loss $16.2M ($0.44/share) vs net income $0.7M in FY2021.
- Includes $13.2M non-cash goodwill impairment due to SaaS market multiple decline from 15.5x to 5.5x.
- Adjusted EBITDA $2.4M (FY2021: $4.1M); cash and marketable securities $19.9M, no debt.
- CEO Danforth entered amended employment agreement: base salary $437,090, unvested equity accelerates on termination.
- SaaS platform momentum: multi-year contracts from second global automaker, expanded to 7 countries, 19 states, 21 California counties.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924383/000143774922028195/0001437749-22-028195-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924383/000143774922028195/gnss20221130_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-028195

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer