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what it is
Genasys sells software and loud devices that warn people from 5,000 meters away during emergencies.
how it gets paid
Last year Genasys made $41M in revenue.
why it's growing
Revenue grew 69.8% last year. Revenue rose 146% vs. prior year. Gross margin was 48.0%.
what just happened
$17M in quarterly revenue kept the turnaround alive, but EPS still landed at -$0.02.
At a glance
C++ balance sheet — some cracks in the foundation
35/100 earnings predictability — expect surprises
1.1% return on capital — nothing to write home about
-$0.40 fy2025 eps est
$2B fy2026 rev est
xvary composite: 41/100 — below average
What they do
Genasys sells software and loud devices that warn people from 5,000 meters away during emergencies.
Gross margin → leftover money after making the product → 59% in software versus 48.0% companywide. Your customer buys warning systems when failure is a lawsuit or a body count. LRAD messages reach 5,000 meters, so your warning has to land before the threat does.
How they make money
$41M
annual revenue · their business grew +69.8% last year
total revenue
$41M
+69.8%
The products that matter
long-range acoustic hardware
LRAD Systems
$24.6M · 60% of revenue
This $24.6M segment jumped 220% from last year. It's the reason headline growth looks explosive, but it also makes results more dependent on contract timing.
growth driver
emergency communications software
Genasys Protect
$16.4M · 40% of revenue
This $16.4M segment carries a 59% gross margin, but growth stalled because of funding delays. That's the piece that has to work if profitability is going to be more than a slide-deck target.
59% margin
Key numbers
-$0.40
fy2025 eps est
$2B
fy2026 rev est
48.0%
gross margin
Gross profit kept about 48.0% of each revenue dollar.
n/a
dividend yield
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 10 / 100
- long-term debt $2M (2% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for GNSS right now.
source: institutional data · return history unavailable
What just happened
beat estimates
$17M in quarterly revenue kept the turnaround alive, but EPS still landed at -$0.02.
Revenue rose 146% vs. prior year. Gross margin was 48.0%, which is better than a year ago and still below the software piece.
$17M
revenue
-$0.02
eps
48.0%
gross margin
revenue
The $17M quarter matters because it showed the business can still grow fast while the loss per share stays tiny.
source: company earnings report, 2026
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What could go wrong
The top threat is software funding delays inside Genasys Protect. That's the higher-margin segment, and it's the part that needs to carry the profitability story.
med
software growth stays stuck
Genasys Protect runs at a 59% gross margin, but software revenue was flat at $16.4M because of funding delays. If that persists, the whole business stays too dependent on hardware spikes.
A stalled software segment makes the 50% company-wide gross-margin target harder to reach.
med
large-contract lumpiness
Recent $2M and $9M LRAD orders show the opportunity and the problem. On a company that just reported $17.1M in quarterly revenue, a single contract can swing the story fast.
Miss one large order and the next quarter can look very different from the last one.
med
profitability timeline slips again
Management is pointing to FY2026 profitability, but analysts already cut the FY2026 revenue estimate to $69M from $73M. That is not the direction you want to see if the margin bridge is fragile.
On a $41M revenue base, even a few million dollars of lost growth can push breakeven further out.
This is a small revenue base with a narrow margin bridge. Flat software, delayed funding, or one missing hardware order can move results more than the headline growth suggests.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
50% gross margin line
Management tied profitability to this threshold. Current gross margin is 48.0%, so two points matter a lot here.
trend
software growth restarting
Software is $16.4M of revenue and carries a 59% gross margin, but it was flat. If that stays flat, the business mix stays wrong.
calendar
Q2 FY2026 earnings report
Expected around May 12, 2026. You want to see whether the hardware burst holds and whether management can show progress toward profitability.
risk
large-order cadence
The $2M Singapore order and $9M CROWS-related award show how deal timing can dominate the quarter. Small companies do not get to hide lumpiness.
Analyst rankings
earnings predictability
35 / 100
In human-speak, analysts think this name can surprise you for better or worse because contract timing and funding timing both matter.
risk rank
3
That puts GNSS around the middle of the pack on overall risk, but the 10 / 100 price stability score tells you the ride can still be rough.
source: institutional data
Institutional activity
institutional ownership data for GNSS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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