Genasys Inc. (NASDAQ: GNSS) reported Q3 EPS of ($0.15), $0.01 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $7.2 million versus the consensus estimate of $6.98 million.

Business Outlook:

With the final approval from the FOMB for Puerto Rico, we remain on track to begin the implementation phase of the project later this summer. As we stated in May, we expect the project in Puerto Rico to generate approximately $75 million in revenue for Genasys over the course of the project. We expect most of the revenue and positive cash flow to be realized in fiscal years 2025 and 2026.

The CROWS AHD program of record has been established, and initial planning for future procurement and production is underway. Though revenues are not likely to be realized this fiscal year, this substantial program should provide consistent revenues in fiscal year 2025 and the several years following.

Software revenues continue to track to expectations of finishing fiscal 2024 with both recurring revenues and ARR at least doubling year over year.

For earnings history and earnings-related data on Genasys Inc. (GNSS) click here.