Genasys Inc (NAS:GNSS)
$ 2.7 -0.13 (-4.59%) Market Cap: 121.31 Mil Enterprise Value: 124.72 Mil PE Ratio: 0 PB Ratio: 6.85 GF Score: 46/100
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Q4 2024 Genasys Inc Earnings Call Transcript

Dec 9, 2024 / 09:30 PM GMT
Release Date Price: $3.95 (+1.28%)

Key Points

Positve
  • International bookings rebounded significantly, up 86% year over year, indicating recovery from COVID-19 impacts.
  • Domestic LRAD systems for law enforcement showed noticeable improvement, driven by acquisitions and better budget environments.
  • Record software bookings increased by 46% year over year, with significant contracts like the statewide EVAC contract in Oregon.
  • The $75 million project with Puerto Rico Electric Power Authority is progressing well, with designs approved for the first three groups of dams.
  • Genasys Protect software is driving hardware sales, exemplified by the $73 million in hardware-related bookings in Puerto Rico.
Negative
  • Fiscal 2024 was financially disappointing, with weak hardware revenues leading to results below targets.
  • Total revenue for the fiscal year decreased by 49% compared to fiscal 2023, primarily due to a 61% drop in hardware revenues.
  • Gross profit margin decreased to 40.8% in the fourth quarter, down from the previous year due to reduced overhead absorption.
  • Operating expenses increased to $9.9 million in the fourth quarter, up from $7.9 million in the previous year.
  • GAAP net loss for fiscal 2024 was $31.7 million, significantly higher than the previous year's loss of $18.4 million.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GNSS.OQ - Genasys Inc
Q4 2024 Genasys Inc Earnings Call
Dec 09, 2024 / 09:30PM GMT

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Conference Call Participants
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* Brian Alger
* Richard Danforth
* Dennis Klahn
* Scott Searle
* Edward Woo

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Presentation
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Operator [1]
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Good day, ladies and gentlemen, and welcome to the Genasys Inc., fiscal year 2024 conference call. (Operator Instructions)

At this time, it is my pleasure to turn the floor over to your host, Brian Alger, SVP, Investor Relations and Corporate Development. Welcome, Brian. The floor is yours.

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Brian Alger, [2]
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Good afternoon. Welcome to Genasys' fiscal 2024 fourth
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