Genasys Inc.

Listed Company

GNSSCIK 0000924383NasdaqNon-AcceleratedSmaller ReportingHousehold Audio & Video EquipmentDelawareFY ends Sep 30

Period

FY 2025

Revenue

—

Net Income

$-18.11M

Total Assets

$63.87M

Equity

$2.17M

Shares Out

45.21M

Op. Cash Flow

$-8.76M

Business

Genasys Inc. is a global provider of Protective Communications solutions, offering the Genasys Protect software platform and LRAD acoustic hardware for emergency warning, mass notification, and critical event management. Its main products and services include cloud-based multichannel SaaS alerting, LRAD and Acoustics speaker systems, Genasys Evertel secure collaboration, evacuation and modeling tools, and command-and-control integrations. The company serves key segments including federal, state and local governments, defense, enterprise sectors (energy, utilities, manufacturing, automotive, healthcare), campuses, and events. Genasys distributes worldwide through direct sales, resellers and system integrators, regional sales and support offices, and partnerships with telecom carriers and technology providers.

Summary from filing dated 2025-12-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Revenues	41	24	47	54	47
Cost of revenues	24	14	25	27	24
Gross profit	17	10	22	27	23
Selling, general and administrative	26	27	25	23	17
Research and development	8	10	8	7	5
Total operating expenses	34	37	33	43	22
Loss from operations	−17	−27	−11	−16	1
Interest income	285,000	237,000	136,000	—	—
Interest expense	−2	−603,000	—	—	—
Change in fair value of Term Loans and warrants	730,000	−4	—	—	—
Other	−623,000	−1	−146,000	—	—
Other expenses, net	−1	−5	−10,000	60,000	54,000
Loss before income taxes	−18	−32	−11	−15	1
Income tax expense (benefit)	119,000	−405,000	7	741,000	434,000
Net loss	−18	−32	−18	−16	704,000
Net loss per common share - basic (in dollars per share)	−0.4	−0.72	−0.5	−0.44	0.02
Net loss per common share - diluted (in dollars per share)	−0.4	−0.72	−0.5	−0.44	0.02
Basic (in shares)	45	44	37	36	34
Diluted (in shares)	45	44	37	36	36

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	8	5	9	13	13
Short-term marketable securities	70,000	8	1	6	6
Restricted cash	0	95,000	758,000	100,000	279,000
Accounts receivable, net of allowance for doubtful accounts for expected credit losses of $65	8	3	6	7	8
Contract assets	6	150,000	—	—	—
Inventories, net	9	7	7	6	6
Prepaid expenses and other	9	2	2	4	2
Total current assets	39	26	25	36	35
Long-term marketable securities	0	249,000	0	781,000	2
Long-term restricted cash	585,000	250,000	96,000	823,000	1
Property and equipment, net	1	1	2	2	2
Goodwill	13	13	10	10	24
Intangible assets, net	6	9	8	11	13
Operating lease right of use assets, net	2	3	4	5	5
Other assets	844,000	1	455,000	394,000	392,000
Total assets	64	54	50	72	90
Accounts payable	8	4	3	2	2
Customer deposit	20	2	—	—	—
Accrued liabilities	7	7	7	12	14
Operating lease liabilities, current portion	1	1	1	948,000	899,000
Notes payable, at fair value	18	0	—	0	296,000
Total current liabilities	54	14	11	15	17
Notes payable, at fair value	0	12	0	—	0
Warrant liability	4	7	0	—	—
Long-term deferred revenue	1	369,000	551,000	—	—
Operating lease liabilities, noncurrent	2	3	4	5	6
Total liabilities	62	36	16	21	24
Commitments and Contingencies (Note 15)	—	—	—	—	—
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding	0	0	0	0	0
Common stock, $0.00001 par value; 100,000,000 shares authorized; 45,161,172 and 44,631,030 shares issued and outstanding, respectively	0	0	0	0	0
Additional paid-in capital	127	126	110	109	107
Accumulated deficit	−126	−108	−76	−57	−41
Accumulated other comprehensive income (loss)	687,000	−335,000	−505,000	−792,000	2,000
Total stockholders' equity	2	18	34	50	66
Total liabilities and stockholders' equity	64	54	50	72	90

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	3	3	3	3	2
Warranty provision	−14,000	−56,000	31,000	86,000	54,000
Inventory obsolescence	451,000	4,000	295,000	333,000	379,000
Share-based compensation	2	2	2	2	1
(Gain) loss on change in fair value of warrants	−3	4	0	—	—
Loss on change in fair value of Term Loans	2	435,000	0	—	—
Loss on issuance of First Amendment Term Loan	480,000	0	—	—	—
Deferred income taxes	0	−525,000	7	666,000	433,000
Loss on disposal of fixed asset	1,000	6,000	4,000	0	—
Addition of operating lease right of use asset	−67,000	0	—	—	—
Amortization of operating lease right of use asset	767,000	794,000	772,000	746,000	694,000
Remeasurement of acquisition contingent consideration	0	−16,000	0	—	—
Accretion of acquisition holdback liability	0	20,000	49,000	48,000	46,000
(Amortization) accretion of investment of marketable securities	−41,000	110,000	0	—	—
Accounts receivable, net	−4	3	827,000	836,000	−2
Contract assets	−6	0	—	—	—
Inventories, net	−2	−816,000	−788,000	75,000	−846,000
Prepaid expenses and other	−6	−1	2	242,000	253,000
Accounts payable	4	2	425,000	199,000	600,000
Customer deposit	18	840,000	—	—	—
Accrued and other liabilities	35,000	−398,000	−6	−5	5
Net cash used in operating activities	−9	−19	−10	468,000	6
Purchases of marketable securities	−1	−16	−4	−7	−5
Proceeds from maturities of marketable securities	10	9	9	7	6
Cash paid for acquisitions net of cash acquired	0	−908,000	0	0	−16
Cash paid for asset purchase holdback liability	0	−764,000	0	—	—
Capital expenditures	−255,000	−191,000	−239,000	−381,000	−208,000
Net cash provided by (used in) investing activities	8	−9	6	−89,000	−16
Proceeds from issuance of Close Date Term Loan and warrants, net of issuance cost	0	14	0	—	—
Proceeds from issuance of First Amendment Term Loan	4	0	—	—	—
Proceeds from offering of common stock, net of issuance costs	0	10	0	—	—
Proceeds from exercise of stock options	49,000	0	138,000	282,000	210,000
Payment of contingent consideration	0	−219,000	0	—	—
Shares retained for payment of taxes in connection with settlement of restricted stock units	−18,000	−12,000	−45,000	−70,000	−141,000
Shares retained for payment of taxes in connection with the exercise of stock options	0	−43,000	−207,000	0	—
Net cash provided by financing activities	4	24	−114,000	−1	13,000
Effect of foreign exchange rate on cash	93,000	18,000	29,000	−185,000	−77,000
Net increase (decrease) in cash, cash equivalents, and restricted cash	3	−4	−4	−869,000	−9
Change in unrealized loss on marketable securities	−8,000	18,000	71,000	−90,000	−7,000
Purchases of property and equipment included in accounts payable and accrued liabilities	0	21,000	—	—	—
Initial measurement of operating lease right of use assets	67,000	0	79,000	466,000	259,000
Initial measurement of operating lease liabilities	67,000	0	79,000	466,000	259,000
Cash paid for interest	2	603,000	—	—	—
Cash paid for taxes	235,000	52,000	0	—	—

Filings

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