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Genasys Inc.

GNSS

Genasys Inc. • NASDAQ
$2.23 ▲ 2.29% (+0.05)
Market Cap $100.69 M
52w High $4.04
52w Low $1.46
Dividend Yield 0%
P/E -3.54
Volume 42.32K
Outstanding Shares 45.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $9.857M ▲ $8.522M ▼ $-6.487M ▼ -65.811% ▲ $-0.14 $-5.048M ▲
Q2-2025 $6.932M ▼ $8.865M ▼ $-6.139M ▼ -88.56% ▼ $-0.14 ▼ $-5.19M ▼
Q1-2025 $6.94M ▲ $9.119M ▼ $-4.078M ▲ -58.761% ▲ $-0.091 ▼ $-5.012M ▲
Q4-2024 $6.741M ▼ $9.881M ▲ $-11.386M ▼ -168.907% ▼ $0.46 ▲ $-6.186M ▼
Q3-2024 $7.167M $9.145M $-6.682M -93.233% $-0.15 $-4.431M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.459M ▼ $57.393M ▲ $54.234M ▲ $3.159M ▼
Q2-2025 $7.076M ▼ $49.721M ▼ $41.665M ▲ $8.056M ▼
Q1-2025 $13.615M ▲ $54.64M ▲ $40.97M ▲ $13.67M ▼
Q4-2024 $12.89M ▲ $53.936M ▼ $36.373M ▲ $17.563M ▼
Q3-2024 $12.718M $59.409M $30.935M $28.474M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-6.487M ▼ $-5.896M ▲ $1.432M ▼ $4M ▲ $-328K ▲ $-5.885M ▲
Q2-2025 $-6.139M ▼ $-6.322M ▼ $3.828M ▲ $24K ▲ $-2.467M ▼ $-6.477M ▼
Q1-2025 $-4.078M ▲ $947K ▲ $2.633M ▲ $1K ▲ $3.526M ▲ $878K ▲
Q4-2024 $-11.386M ▼ $556K ▲ $-4.277M ▼ $-43K ▼ $-3.728M ▼ $526K ▲
Q3-2024 $-6.682M $-7.514M $-1.042M $13.698M $5.128M $-7.522M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $0 ▲$0 ▲$0 ▲$10.00M ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue over the last few years has been relatively flat and then slipped more recently, which is not what you want to see for a technology company investing in new platforms. Gross profit is positive but not strong enough to cover operating expenses, so operating losses have reappeared after a brief period near break-even. Net results have been consistently in the red apart from one roughly break-even year, and losses have widened lately. Taken together, the business looks to be in a transition phase: spending heavily to build software and platforms while not yet showing clear, sustained top-line growth or profitability.

Balance Sheet

Balance Sheet The balance sheet shows a company that is gradually shrinking in size, with total assets and equity both drifting down over time. Cash is modest and has trended lower, while debt has inched up, meaning the business is now more reliant on borrowing than in the past. Equity has eroded as losses accumulate, which reduces the financial cushion for absorbing setbacks. The balance sheet still supports ongoing operations, but the direction of travel—less cash, more leverage, and lower equity—highlights the importance of stabilizing results and protecting liquidity.

Cash Flow

Cash Flow Operating cash flow has moved from slightly positive or breakeven to clearly negative in the most recent years, indicating the core business is consuming cash rather than generating it. Free cash flow follows the same pattern, as capital spending is minimal; the cash burn is coming from operations, not big investment projects. This means management must rely on existing cash, new financing, or working-capital improvements to fund growth and product development. Sustained negative cash flow is manageable for a time but increases pressure to either grow revenue meaningfully or cut costs.

Competitive Edge

Competitive Edge Genasys operates in a specialized niche of protective communications, where its long-range acoustic devices and integrated software platform give it a differentiated position. It helped create the modern acoustic hailing device market and has long-standing relationships with defense, government, and public safety customers. These customers tend to be sticky because solutions are mission-critical, certified, and embedded in protocols, which makes switching costly and slow. The company is also broadening beyond hardware into software, recurring services, and multi-channel alerting, which can deepen relationships and smooth revenue. That said, reliance on government and defense budgets, long procurement cycles, and occasional hardware booking delays can lead to lumpy demand and execution risk.

Innovation and R&D

Innovation and R&D The company’s innovation centers on combining specialized hardware with a growing suite of software tools under the Genasys Protect platform. Its LRAD technology remains a flagship capability, offering clear, long-distance voice projection that competitors struggle to match in demanding environments. On the software side, products for evacuation planning, emergency management, secure communications, and facility alerts position Genasys as a full-stack provider rather than a single-product vendor. Recent acquisitions and partnerships, as well as integrations with mapping and flood-modeling tools, show a deliberate strategy to build a richer, data-driven platform. The main question is execution: turning this strong product vision and R&D investment into scalable, profitable, and recurring software revenue while managing the hardware side of the business.

Summary

Genasys sits at the intersection of public safety, defense, and critical communications with a clear technological edge and deep institutional relationships. Strategically, it is moving from a primarily hardware-driven model toward an integrated hardware-and-software platform with more recurring revenue. Financially, however, the picture is mixed: revenues are not yet showing strong growth, profitability has slipped back into losses, cash flow is negative, and the balance sheet is slowly weakening. The long-term opportunity lies in scaling its software platform, expanding internationally, and replicating large infrastructure projects, but this comes with execution, budgeting, and funding risks. Overall, the story is of a niche technology leader with meaningful strategic assets that still needs to prove it can convert its innovation and contracts pipeline into consistent, self-funding growth.

NEWS

November 20, 2025 · 9:00 AM UTC

Genasys Inc. Announces $1M Nuclear Security Order

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November 18, 2025 · 8:30 AM UTC

Genasys Inc. Appoints Gateway to Lead Expanded Investor Relations Program

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November 13, 2025 · 9:00 AM UTC

Genasys Inc. Schedules Fiscal Year 2025 Financial Results and Conference Call for December 9, 2025

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November 11, 2025 · 9:00 AM UTC

Genasys Inc. Enters Strategic Partnership With Law Enforcement and Crisis Communications Leader Julie Parker Communications

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