secwatch.observer — SEC 8-K summary
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Issuer:     Genasys Inc. (GNSS)
CIK:        0000924383
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0001437749-24-003939
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Genasys Q1 revenue down 58% to $4.4M, net loss per share ($0.15)
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- Revenue $4.4M, down 58.4% YoY; GAAP net loss ($6.7M), EPS ($0.15) vs ($0.10) prior year.
- Software revenue up 56.6% YoY; recurring software revenue up 84.9%; hardware down 69.3%.
- Adjusted EBITDA loss ($6.1M) vs ($2.4M); gross margin 33.9% vs 46.1%.
- Won $60-70M Puerto Rico dams EWS contract and multi-year deals with LA County and Utah.
- Outlook: hardware back-end loaded in FY2024; hardware revenues expected near FY2022 levels.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924383/000143774924003939/0001437749-24-003939-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924383/000143774924003939/gnss20240213_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-003939

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