In a recent SEC filing, William H. Dodd, a director at Genasys Inc. (NASDAQ:GNSS), reported the acquisition of 16,327 shares of the company's common stock. The timing is notable as the stock has declined over 33% in the past week, though it maintains a 40% gain over the last six months, according to InvestingPro data. The shares were purchased at a price of $2.65 each, totaling $43,266. Following this transaction, Dodd now holds 59,159 shares of Genasys, a company known for its household audio and video equipment. The purchase was executed on December 11, 2024, and the filing was signed by Dennis D. Klahn as attorney-in-fact for Dodd. InvestingPro analysis indicates the stock is currently undervalued, with 12 additional exclusive insights available for subscribers, including detailed financial health metrics and growth projections.
In other recent news, Genasys Inc. reported a larger-than-expected loss in its fiscal fourth-quarter earnings, with an EPS of -$0.26 against a forecast of -$0.11. The company's revenue also missed expectations, coming in at $6.7 million compared to the projected $9.03 million. Despite these financial setbacks, Genasys' stock remained steady, indicating a cautious investor stance. The company's total revenue for the fiscal year dropped by 49%, primarily due to a significant decrease in hardware sales. However, software revenue exhibited robust growth, suggesting potential for future growth. The company is looking to expand its software offerings to offset hardware losses. Analysts noted that Genasys' EPS missed forecasts by $0.15, underscoring the financial challenges the company faces. Despite this, Genasys is optimistic about its software business, entering FY 2025 with an annual recurring revenue (ARR) of $8.3 million. The company is focused on expanding its market presence in emergency management and communication systems, with significant projects like the Puerto Rico dam project expected to drive future growth.
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