secwatch.observer — SEC 8-K summary
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Issuer:     Genasys Inc. (GNSS)
CIK:        0000924383
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0001437749-24-016642
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.02, 2.03, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/0001437749-24-016642-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924383/000143774924016642/gnss20240513_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-016642

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