Aug 13, 2026 earnings call — Timing-driven revenue shortfall and software growth
Revenue fell to $7.3 million in Q3, and 12-month backlog rose to approximately $69 million.
Revenue $0.0B (est $0.0B) · EPS $-0.10 (est $-0.02)
Key quotes
"This included only $1.3 million in contribution from the Puerto Rico project due to our deliberate decision to halt work on the island until customer payment resumes."
"Genasys Protect now covers approximately 15% of the US population and 20% of the country's land area."
"Last week, we announced a $2.4 million critical infrastructure protection order from 1 of the largest utilities in The United States."
Analyst Q&A 2
Idaho county win and Puerto Rico timing
Q (Ed Woo · Ascendiant Capital): He asked if the Idaho (Ada County) win means it is easier to displace competitors and expand across the state and other counties. He also asked whether the Puerto Rico pause changes project timing or affects profitability.
A: Management said Ada County is an evacuation customer and likes the product’s simplicity and alert software, and they expect counties to switch to Genasys when existing contracts expire. They said Ada is the largest county with over half a million people and they intend to land the whole state. On Puerto Rico, they said the pause does not affect profitability, they had avoided scheduling work in fiscal fourth quarter for hurricane season, but are now doing work in the fourth quarter and will get as much done as possible despite weather challenges.
"And I think when the contract runs out with their existing supplier, not only in Ada but in counties all across the country, they will switch to Genasys." — Richard S. Danforth (CEO)
Puerto Rico payments and market size
Q (Luke Fingerson · Lake Street): He asked how collections from Puerto Rico are progressing and the timing of those collections. He also asked how management views the size of the market and where future hardware sales may come from.
A: Management said in the last 4 weeks they have collected $2.99 million, paid roughly every other Friday, and payments are against specific invoices so cash is flowing. They said Puerto Rico is working through a backlog and they will invoice as they finish work. On market size, they said they have not given a number but it is large, hardware bookings non-military will be higher than ever, they expect about $9 million in revenue from the CROWS program this fiscal year, and one utility bought $4.4 million of NXT's this fiscal year (about $1 million last fiscal year, over $5 million total); the pipeline is robust and growing.
"In the last 4 weeks, Luke, we have collected $2.99 million, like, every other Friday." — Richard S. Danforth (CEO)