Genasys Q3 revenue halved to $7.2M; net loss widens to $6.7M; $75M Puerto Rico project approved

Genasys Inc.

2024-Q3 EPS reported -$0.46 revenue$17,267,000

Revenue of $7.2M versus $14.3M in Q3 2023; GAAP net loss of ($6.7)M vs ($1.4)M; EPS ($0.15) vs ($0.04).
Software revenue up 120% YoY; ARR reached $7.6M; hardware revenue down 62%.
Adjusted EBITDA loss of ($4.3)M, compared to ($0.4)M in prior year quarter.
FOMB approval received for $75M Puerto Rico PREPA dam project; revenue expected in FY2025/2026.
Cash and equivalents $12.7M as of June 30, 2024; CROWS AHD program of record established.

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