---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-016642"
form_type: "8-K"
ticker: "GNSS"
cik: "0000924383"
company_name: "Genasys Inc."
filed_at: "2024-05-14T23:59:59+00:00"
generated_at: "2026-06-02T01:41:21.918469+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Genasys Q2 revenue $5.7M (-49% YoY), net loss $0.16/sh; Puerto Rico EWS expanded to $75M; $15M secured loan closed

## Summary
- Revenue $5.7M vs $11.2M YoY; GAAP net loss $6.9M ($0.16 diluted loss per share).
- Puerto Rico dam EWS project scope expanded to ~$75M; expects initial payment and bid bond return after final terms.
- Adjusted EBITDA loss $5.7M vs $2.3M loss YoY; hardware revenues likely to miss fiscal 2024 forecast.
- Entered $15M two-year term loan with Cantor Fitzgerald; issued ~3.1M warrants at $2.53/sh.
- Appointed Bill Dodd (former CA Senator) and Craig Fugate (ex-FEMA Administrator) to board effective June 1, 2024.

## SEC filing metadata
- accession: 0001437749-24-016642
- form_type: 8-K
- ticker: GNSS
- cik: 0000924383
- company_name: Genasys Inc.
- filed_at: 2024-05-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/0001437749-24-016642-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/gnss20240513_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-016642
- JSON: https://secwatch.observer/filing/0001437749-24-016642.json
- Plain text: https://secwatch.observer/filing/0001437749-24-016642.txt

## Key facts
- Debt Financings
  Genasys Inc. incurred term loan of $15,000,000 with Cantor Fitzgerald Securities at three-month SOFR plus five percent maturing May 13, 2026.
  - Instrument: term loan
  - Principal: $15,000,000
  - Counterparty: Cantor Fitzgerald Securities
  - Rate: three-month SOFR plus five percent
  - Maturity: May 13, 2026
  - Event: incurrence
  source text: On May 13, 2024, Genasys Inc. (the “Company”) entered into (a) a Term Loan and Security Agreement (the “Loan Agreement”) among the Company, Evertel Technologies, LLC (“Evertel”), Zonehaven LLC (“Zonehaven”), Genasys Puerto Rico, LLC (“Genasys PR”), the lenders from time to time party thereto (the “Lenders”) and Cantor Fitzgerald Securities, as administrative agent and collateral agent, pursuant to which the Company borrowed Fifteen Million Dollars ($15,000,000) (the “Loan Transaction”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/0001437749-24-016642-index.htm
- Earnings Releases
  Genasys Inc. reported the fiscal quarter ended March 31, 2024 results: revenue $5.7 million, net income ($6.9) million, EPS ($0.16).
  - Period: the fiscal quarter ended March 31, 2024
  - Revenue: $5.7 million
  - Net income: ($6.9) million
  - EPS: ($0.16)
  - Result: reported results
  source text: of the software business rapidly growing. We are more confident in the long-term health of our business than we have ever been.” Fiscal 2Q 2024 Financial Summary ● Revenue of $5.7 million, versus $11.2 million in 2Q 2023 ● GAAP operating loss of ($6.9) million, versus ($3.4) million in 2Q 2023. ● GAAP net loss of ($6.9) million versus ($3.4) million in 2Q 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/0001437749-24-016642-index.htm
- Executive change
  Bill Dodd was appointed as Director at Genasys Inc..
  - Action: appointed
  - Role: Director
  source text: the Company announced the appointment of Bill Dodd and Craig Fugate to the Board of Directors (the “Board”) of the Company effective June 1, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/0001437749-24-016642-index.htm
- Executive change
  Craig Fugate was appointed as Director at Genasys Inc..
  - Action: appointed
  - Role: Director
  source text: the Company announced the appointment of Bill Dodd and Craig Fugate to the Board of Directors (the “Board”) of the Company effective June 1, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/0001437749-24-016642-index.htm
- Material Agreements
  Genasys Inc. entered into Right of First Refusal Agreement with Cantor Fitzgerald Securities valued at Right of first refusal on equity or debt financings during first year (effective 2024-05-13).
  - Action: entry
  - Counterparty: Cantor Fitzgerald Securities
  - Value: Right of first refusal on equity or debt financings during first year
  - Effective: 2024-05-13
  source text: the Company also entered into a Right of First Refusal Agreement (the “ROFR Agreement”), pursuant to which the Company granted to the Lenders a right of first refusal with respect to equity or debt financings completed by the Company during the first year following the closing of the Loan Transaction
  evidence_url: https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/0001437749-24-016642-index.htm
- Material Agreements
  Genasys Inc. entered into Warrant Agreement with Cantor Fitzgerald Securities valued at Warrants to purchase up to 3,068,182 shares of common stock, exercise price $2.53 per share (effective 2024-05-13).
  - Action: entry
  - Counterparty: Cantor Fitzgerald Securities
  - Value: Warrants to purchase up to 3,068,182 shares of common stock, exercise price $2.53 per share
  - Effective: 2024-05-13
  source text: (b) a Warrant Agreement (the “Warrant Agreement”) pursuant to which the Company agreed to issue to the Lenders warrants (the “Warrants”) to purchase up to 3,068,182 shares of the Company’s common stock at an initial exercise price of $2.53 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/0001437749-24-016642-index.htm
- Material Agreements
  Genasys Inc. entered into Term Loan and Security Agreement with Cantor Fitzgerald Securities valued at $15,000,000 borrowed, warrants to purchase up to 3,068,182 shares at $2.53 per share, interest SOFR+ (effective 2024-05-13).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Cantor Fitzgerald Securities
  - Value: $15,000,000 borrowed, warrants to purchase up to 3,068,182 shares at $2.53 per share, interest SOFR+
  - Effective: 2024-05-13
  source text: On May 13, 2024, Genasys Inc. (the “Company”) entered into (a) a Term Loan and Security Agreement (the “Loan Agreement”) among the Company, Evertel Technologies, LLC (“Evertel”), Zonehaven LLC (“Zonehaven”), Genasys Puerto Rico, LLC (“Genasys PR”), the lenders from time to time party thereto (the “Lenders”) and Cantor Fitzgerald Securities, as administrative agent and collateral agent, pursuant to which the Company borrowed Fifteen Million Dollars ($15,000,000) (the “Loan Transaction”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/0001437749-24-016642-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.