Genasys Inc. announced its fiscal third quarter 2025 financial results on August 14, 2025, reporting a 38% increase in revenue to $9.9 million compared to $7.2 million in the prior year's quarter. Hardware revenue surged by 50%, while software revenue increased 7%, with Annual Recurring Revenue (ARR) reaching $8.7 million.
The company's gross profit margin significantly declined to 26.3% from 52.8% in Q3 FY24, primarily due to the percentage-of-completion accounting associated with the Puerto Rico project and underutilization of hardware revenue. The GAAP net loss for the quarter was $6.5 million, or $0.14 per share, compared to a net loss of $6.7 million, or $0.15 per share, in the prior year period.
Genasys' cash, cash equivalents, and marketable securities totaled $5.5 million as of June 30, 2025. The company recorded $4.3 million in Puerto Rico project-related revenue in Q3, with low profit margins, and expects $15 million to $20 million in total FY25 Puerto Rico revenue. The U.S. Army issued an RFQ for an initial production order for the CROWS AHD program, which Genasys expects to be $8.0 million to $8.5 million, significantly boosting hardware bookings and backlog.
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