secwatch.observer — SEC 8-K summary
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Issuer:     Genasys Inc. (GNSS)
CIK:        0000924383
Form:       8-K/A
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0001437749-24-004083
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Genasys Q1 revenue $4.4M down 58% YoY; Puerto Rico dam contract worth $60-$70M
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- Revenue $4.4M (-58.4% YoY); GAAP net loss ($6.7M) vs ($3.5M) YoY; EPS ($0.15).
- Software revenue up 56.6% YoY; hardware down 69.3%; recurring software revenue up 84.9%.
- Gross margin 33.9% vs 46.1% due to lower hardware volume.
- Selected for Puerto Rico dam Early Warning System, $60M-$70M integrated solution.
- Cash $13.6M; expects heavily back-end loaded FY with hardware revenue approaching FY2022 levels.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924383/000143774924004083/0001437749-24-004083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924383/000143774924004083/gnss20240213_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-004083

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