Genasys Inc

Genasys Inc. reported fiscal third quarter revenue of $7.3 million, down from $9.9 million a year earlier, but management reiterated expectations for a record fiscal 2026 in both revenue and profitability. CEO Richard Danforth attributed the decline to two timing-related factors: a supply chain constraint on the CROWS program, which has now been resolved with production underway on the initial $9 million order and delivery expected within the fiscal year, and a deliberate pause in Puerto Rico work until customer payments resumed, with collections restarting after quarter end and project activities remobilized. Software revenue rose 21% year-over-year to $2.7 million, and Genasys Protect now covers approximately 15% of the U.S. population and 20% of the country's land area. Gross margin improved to 57.1% from 26.3% a year earlier, while GAAP net loss was $4.7 million, or $0.10 per share, and adjusted EBITDA loss was $3.1 million. Cash and marketable securities totaled $3.1 million as of June 30, 2026, and the company extended its term loan maturity to July 2027.