Genasys Inc. Files 10-Q for Q2 2024

TL;DR

<b>Genasys Inc. filed its Q2 2024 10-Q report, detailing financial performance and company history.</b>

AI Summary

Genasys Inc. (GNSS) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Genasys Inc. reported its Q2 2024 financial results for the period ending March 31, 2024. The company's fiscal year ends on September 30. Genasys Inc. was formerly known as LRAD Corp and American Technology Corp /DE/. The filing covers the period from October 1, 2023, to March 31, 2024. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking Genasys Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance data for Genasys Inc., crucial for assessing the company's current health and future prospects. Understanding the company's historical name changes and incorporation details offers context for its corporate evolution and legal structure.

Risk Assessment

Risk Level: low — Genasys Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine disclosure.

Analyst Insight

Review the detailed financial statements within the 10-Q to identify revenue trends, profitability, and any significant changes in assets or liabilities.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-05-15 — Filing Date (Filed as of Date)
• 09-30 — Fiscal Year End (Fiscal Year End)
• 2024-03-31 — Q2 2024 End Date (Fiscal Quarter End Date)
• 2023-10-01 — Q2 2024 Start Date (Fiscal Quarter Start Date)
• 2024-05-13 — Subsequent Event Date (Date of Subsequent Event)

Key Players & Entities

• Genasys Inc. (company) — Filer name
• LRAD Corp (company) — Former company name
• AMERICAN TECHNOLOGY CORP /DE/ (company) — Former company name
• DE (company) — State of incorporation
• San Diego (company) — Business address city
• CA (company) — Business address state
• 92127 (company) — Business address zip
• USD (dollar_amount) — Currency

FAQ

Industry Context

Genasys Inc. operates in the Household Audio & Video Equipment industry (SIC 3651), though its business may extend to other areas like public safety and defense technology.

Regulatory Implications

The filing is a standard Form 10-Q, a quarterly report required by the SEC for publicly traded companies to provide updates on their financial condition.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow trends.
2. Examine any disclosed risk factors or management discussion and analysis for potential business challenges.
3. Note any subsequent events that may impact the company's financial position.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q.
• 2024-05-15: Filing Date — Date the 10-Q was officially submitted to the SEC.
• 2024-05-13: Subsequent Event — Indicates events that occurred after the balance sheet date but before the filing date.

Year-Over-Year Comparison

This is the Q2 2024 10-Q filing, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.00001 — ecurities are registered Common stock, $0.00001 par value per share GNSS NASDAQ Cap

Filing Documents

• gnss20240331_10q.htm (10-Q) — 2003KB
• ex_670630.htm (EX-31.1) — 13KB
• ex_670631.htm (EX-31.2) — 13KB
• ex_670632.htm (EX-32.1) — 9KB
• logo01.jpg (GRAPHIC) — 13KB
• 0001437749-24-016942.txt (&nbsp;) — 11078KB
• gnss-20240331.xsd (EX-101.SCH) — 89KB
• gnss-20240331_def.xml (EX-101.DEF) — 643KB
• gnss-20240331_lab.xml (EX-101.LAB) — 498KB
• gnss-20240331_pre.xml (EX-101.PRE) — 686KB
• gnss-20240331_cal.xml (EX-101.CAL) — 64KB
• gnss20240331_10q_htm.xml (XML) — 2234KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Genasys Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par value and share amounts) March 31, 2024 September 30, (Unaudited) 2023 ASSETS Current assets: Cash and cash equivalents $ 3,544 $ 8,665 Short-term marketable securities 3,011 1,481 Restricted cash - 758 Accounts receivable, net of allowance for credit losses of $ 65 2,820 5,952 Inventories, net 6,564 6,501 Prepaid expenses and other 6,324 1,851 Total current assets 22,263 25,208 Long-term restricted cash 346 96 Property and equipment, net 1,483 1,551 Goodwill 13,251 10,282 Intangible assets, net 9,743 8,427 Operating lease right of use assets 3,507 3,886 Other assets 439 455 Total assets $ 51,032 $ 49,905 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 2,597 $ 2,785 Accrued liabilities 8,308 7,466 Operating lease liabilities, current portion 1,027 1,008 Total current liabilities 11,932 11,259 Other liabilities, noncurrent 445 551 Operating lease liabilities, noncurrent 3,773 4,283 Total liabilities 16,150 16,093 Stockholders' equity: Preferred stock, $ 0.00001 par value; 5,000,000 shares authorized; none issued and outstanding - - Common stock, $ 0.00001 par value; 100,000,000 shares authorized; 44,485,851 and 37,211,071 shares issued and outstanding, respectively - - Additional paid-in capital 125,051 110,379 Accumulated deficit ( 89,724 ) ( 76,062 ) Accumulated other comprehensive loss ( 445 ) ( 505 ) Total stockholders' equity 34,882 33,812 Total liabilities and stockholders' equity $ 51,032 $ 49,905 See accompanying notes 1 Genasys Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share and share amounts) (Unaudited) Three months ended Six months ended March 31, March 31, 2024 2023 2024 2023 Revenues: Product sales

View Full Filing

View this 10-Q filing on SEC EDGAR