Genasys Inc. Files 2024 10-K

TL;DR

Genasys Inc. filed its 2024 10-K, detailing FY performance. Formerly LRAD Corp.

AI Summary

Genasys Inc. filed its 10-K for the fiscal year ending September 30, 2024, reporting on its business operations. The company, formerly known as LRAD Corp and American Technology Corp, is based in San Diego, California. The filing covers various financial and operational aspects, including segments like Software and products related to EMEAMember and RangeOne.

Why It Matters

This 10-K filing provides a comprehensive overview of Genasys Inc.'s financial performance and strategic positioning for the fiscal year 2024, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate increased risk.

Key Numbers

• 0930 — Fiscal Year End (The report covers the period ending September 30, 2024.)
• 20241213 — Filing Date (The 10-K was filed on December 13, 2024.)

Key Players & Entities

• Genasys Inc. (company) — Filer
• LRAD Corp (company) — Former company name
• AMERICAN TECHNOLOGY CORP /DE/ (company) — Former company name
• San Diego, CA (location) — Business and Mail Address
• 20240930 (date) — Fiscal year end
• 20241213 (date) — Filing date

FAQ

Key Financial Figures

• $0.00001 — nge on which registered Common stock, $0.00001 par value per share GNSS NASDAQ Cap

Filing Documents

• gnss-20240930.htm (10-K) — 3286KB
• gnss-ex21_1.htm (EX-21.1) — 5KB
• gnss-ex23_1.htm (EX-23.1) — 5KB
• gnss-ex31_1.htm (EX-31.1) — 12KB
• gnss-ex31_2.htm (EX-31.2) — 12KB
• gnss-ex32_1.htm (EX-32.1) — 9KB
• img37351596_0.jpg (GRAPHIC) — 334KB
• 0000950170-24-136163.txt ( ) — 15568KB
• gnss-20240930.xsd (EX-101.SCH) — 1943KB
• gnss-20240930_htm.xml (XML) — 3064KB

Business

Business 1 ITEM 1A.

Risk Factors

Risk Factors 14 ITEM 1B. Unresolved Staff Comments 26 ITEM 1C. Cybersecurity 26 ITEM 2.

Properties

Properties 26 ITEM 3.

Legal Proceedings

Legal Proceedings 27 ITEM 4. Mine Safety Disclosures 27 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28 ITEM 6. Reserved 28 ITEM 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 ITEM 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 ITEM 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 41 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 41 ITEM 9A.

Controls and Procedures

Controls and Procedures 42 ITEM 9B. Other Information 42 ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 42 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 43 ITEM 11.

Executive Compensation

Executive Compensation 43 ITEM 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 43 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 43 ITEM 14. Principal Accountant Fees and Services 43 PART IV ITEM 15. Exhibits and Financial Statement Schedules 44 Consolidated Financial Statements F- i

Forward Looking Statements

Forward Looking Statements This Annual Report on Form 10-K contains forward-looking statements relating to future events or the future performance of our company. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements but are not the only means of identifying forward-looking statements. Such statements are predictions; actual events or results may differ materially. In evaluating such statements, you should specifically consider various factors identified in this report, including the matters set forth below in "Item 1A. Risk Factors" of this Annual Report on Form 10-K, which could cause actual results to differ materially from those indicated by such forward-looking statements. For purposes of this Annual Report, the terms "we," "us," "our" "Genasys" and the "Company" refer to Genasys Inc. and its consolidated subsidiaries.

Busin ess

Item 1. Busin ess. Overview We are a global provider of Protective Communications solutions, including our Genasys Protect software platform and Long Range Acoustic Device ("LRAD ") products. Our unified software platform receives information from a wide variety of sensors and Internet-of-Things ("IoT") inputs to collect real-time information on developing and active emergency situations. Genasys uses this information to create and disseminate alerts, warnings, notifications, and instructions through multiple channels before, during, and after public safety and enterprise threats, critical events, and other crisis situations. Genasys Protect is a comprehensive portfolio of Protective Communications software and hardware systems serving federal governments and agencies; state and local governmental agencies, and education ("SLED"); and enterprise organizations in sectors including but not limited to oil and gas, utilities, manufacturing, automotive, and healthcare.Genasys Protect solutions have a diverse range of applications, including emergency warning and mass notification for public safety; critical event management for enterprise companies; de-escalation for defense and law enforcement; critical infrastructure protection; zone-based planning for accelerated, precise emergency response; secure and compliant cross-agency collaboration; and automated detection of real-time threats such as active shooters and severe weather. LRAD products broadcast audible voice messages with exceptional vocal clarity from close range out to 5,500 meters. We have a history of successfully delivering innovative products, systems, and solutions for mission critical situations, pioneering the acoustic hailing device ("AHD") market with the introduction of our first LRAD AHD in 2002 and creating the first multi-directional, voice-based public safety mass notification systems in 2012. Building on our proven, best in class, and reliable solutions, we offer the first and only unifi

View Full Filing

View this 10-K filing on SEC EDGAR