Genasys reports Q4 EPS (7c), consensus (8c)

Reports Q4 revenue $10.7M, consensus $10.56M.Richard S. Danforth, Chief Executive Officer of Genasys, commented, “As we announced in mid- September, our pipeline of hardware and software business continues to grow rapidly. This week’s announcements include some of the business that we had expected in the September quarter. We expect that we will book each of the forecasted hardware orders that shifted out of our fiscal 2023. In the fourth quarter of fiscal 2023, recurring revenues in our software business were up 43% year over year and 21% sequentially. Based on current contracting activity, the addition of Evertel Technologies, and partnerships with Tablet Command and Ladris, we now expect fiscal 2024 software revenue growth in excess of 100% year over year.” Danforth continued, “The steady growth and expansion of our recurring software revenue is gaining momentum. Evertel, now branded Genasys Protect CONNECT, is already delivering strong synergies across our existing customer base. The integration with Tablet Command and added performance and functionality of Ladris expands the use cases and value of the Genasys Protect platform. Combined with our category-defining ACOUSTICS offerings, Genasys is rapidly expanding the differentiation of Protective Communications versus legacy mass notification solutions. The differentiation of Genasys Protect continues to displace incumbents and win the business that is already generating a rapidly growing Annual Recurring Revenue or ARR.”