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Thursday, May 19, 2022

Genasys Inc. (GNSS) Stock Surged 4.56% Today, Here’s Why

Genasys Inc. (GNSS) stock soared 4.56% in the current-market trading session at the price of $3.21 following SaaS revenue contracts in six states of the U.S.

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GNSS SaaS Contracts

On 21st April 2022, GNSS announced multi-year GEM and Zonehaven SaaS revenue contracts in Colorado, California, Georgia, Missouri, Kentucky, and Texas. The agreements include Colorado Springs, the first city in Colorado to enforce the Zonehaven emergency evacuation system.

GEM authorizes emergency managers to institute and track warnings and respond to assist thousands of people during natural disasters and other emergencies. GEM provides alarms via SMS, voice calls, email, social media, desktop alerts, IPAWS, and other communication platforms. Zonehaven lessens the evacuation span from hours to just minutes by leveraging the hyperlocal technique to model emerging disasters.

GNSS Stock

Genasys is a leading provider of urgent communications techniques and solutions to protect and safeguard people. The stock leverages a multichannel strategy to provide geo-targeted warnings, alerts, instructions, information, and notifications before, during, and after emergency crises and enterprise threats. The company’s critical communications medium includes GMS SaaS, IMNS, Zonehaven emergency evacuation system, LRAD voice broadcast platform, and many more.

GNSS Business Outlook

The stock has reaffirmed its fiscal 2022 business outlook for another year of record revenue growth. The company’s revenue anticipation remains unchanged from the previous earnings release. However, the management is cautious about any adverse impact from unexpected supply chain upheavals. The stock believes that its working capital will be satisfactory for executing its future projects and growth objectives.

The company witnessed rising demand for its critical communications solutions from governments and private companies. The management is hopeful about growing market prospects given the power of its integrated forum, competitive differentiators, and levels of active discussion with potential clients. The company is investing in resources and staffing to grow its SaaS business, which will shift its revenue mix towards a higher margin.

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