Latest news with #GenasysProtect
Yahoo
14-06-2025
- Climate
- Yahoo
Firefighters battle 3,000 acre fire near 5 Dogs Range, evacuation order in place
BAKERSFIELD, Calif. (KGET) — Firefighters with the Kern County Fire Department are battling a 3,000 acre fire near 5 Dogs Range Friday afternoon. The fire was reported at 1:57 p.m. east of Highway 65, according to officials. Man on probation arrested on suspicion of marijuana, cocaine possession for sale According to the Genasys Protect website, an evacuation order has been put in place for KRN-606. Evacuation warnings have been put in place for KRN-600 and KRN-601. For more information, click here. 17 News has contacted the fire department for more information. There is no information on containment or the cause of the fire. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
12-02-2025
- Business
- Yahoo
Genasys Inc (GNSS) Q1 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic Progress
Recurring Software Revenue Growth: Increased 69% year over year in the first quarter of fiscal 2025. Total Software Revenue Growth: Grew 64% year over year. Hardware Revenue Growth: Increased 57% year over year. Gross Profit Margin: 45.8% in the December quarter, up nearly 12 points from the previous year. Operating Expenses: $9.1 million this quarter, compared to $8.7 million in the previous year's first quarter. Operating Loss (GAAP): $5.9 million, compared to $7.2 million in the previous year. Adjusted EBITDA: Negative $4.8 million, an improvement from negative $6 million in the previous year. Net Loss (GAAP): $4.1 million, compared to $6.7 million in the previous year. Cash Equivalents and Marketable Securities: $13.9 million as of December 31, 2024. Cash Provided by Operating Activities: $900,000 in the first quarter, including an $8 million deposit for the Puerto Rico project. Backlog: $40 million, including ARR of $8.8 million. Warning! GuruFocus has detected 5 Warning Signs with GNSS. Release Date: February 11, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Genasys Inc (NASDAQ:GNSS) reported significant revenue growth in the first quarter of fiscal 2025, with recurring software revenue increasing by 69% year over year. The company successfully deployed its Genasys Protect solution during the historic fires in Southern California, which helped safely evacuate hundreds of thousands of citizens. Gross profit margin improved to 45.8% in the December quarter, up nearly 12 points compared to the previous year. The company has a growing backlog of $40 million, including an annual recurring revenue (ARR) of $8.8 million, indicating a strong pipeline of future opportunities. Genasys Inc (NASDAQ:GNSS) is making progress on its project in Puerto Rico, with significant deposits received and initial revenues expected to be recorded in the second fiscal quarter. The company reported a GAAP net loss of $4.1 million in the first fiscal quarter, although this was an improvement from the previous year's loss. Operating expenses increased to $9.1 million this quarter, up from $8.7 million in the same quarter last year, primarily due to professional services related to the Puerto Rico project. There were issues with the WeA alert system during the LA fires, which resulted in a county-wide alert instead of a targeted one, although it was quickly canceled. Supply chain issues continue to pose challenges, although the company is managing through them. The timeline for the CROWS program remains uncertain, with the exact timing of its impact on the P&L yet to be determined. Q: Can you provide more clarity on the deployment timeframes for the Puerto Rico project and the expected revenue pattern? A: The process has begun, with the first group being the most challenging. The second and third groups will begin in parallel, staggered slightly. We expect to substantially complete these three groups, with significant revenue recognition in the second half of the fiscal year. Q: Is there an expectation to receive cash for the fourth group of dams by fiscal year-end? A: It is unlikely, but we will reassess as we get closer to that timeframe. Q: Have you noticed any increase in competition following the success during the LA fires? A: No, we haven't seen an increase in competition yet. It's probably too soon for that to happen. Q: How are you managing supply chain issues, and is the change in administration affecting your business? A: We are managing through supply chain issues, which initially gate our progress but then catch up quickly. The change in administration is likely to increase defense spending, which could benefit our public safety business. Q: Can you quantify the opportunity arising from the Genesis Protect system's performance during the LA fires? A: We don't have exact figures yet, but there is significant interest from LA counties and cities. We expect to quantify this opportunity better in the next quarter. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
