Genasys Inc. announced its fiscal first quarter 2025 financial results on February 11, 2025, reporting a significant increase in revenue. Total revenue for the quarter was $6.9 million, a 59.1% increase compared to $4.4 million in the prior year's first quarter. Both software and hardware segments contributed to this growth, with software revenue increasing 63.5% and hardware revenue rising 57.1%.
The company's gross profit margin improved to 45.8% in Q1 FY25, up from 33.9% in Q1 FY24, primarily due to higher hardware revenue and improved software gross margins. The GAAP net loss for the quarter narrowed to $4.1 million, or $0.09 per share, compared to a net loss of $6.7 million, or $0.15 per share, in the same period last year.
Genasys reported cash, cash equivalents, and marketable securities totaling $13.9 million as of December 31, 2024, which included an $8.3 million deposit for the first group of dams in Puerto Rico. The company also received an additional $2.2 million in deposits for the second group of dams after the quarter end, signaling continued progress on the major Puerto Rico Early Warning System project.
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