Genasys Secures $2M Order for LRAD Systems from Major U.S. Utility
GNSS sits 19% above its 52-week low of $1.4.
Summary
Genasys announced a $2 million order for its remotely operated LRAD systems from a large U.S. utility. This order provides a positive revenue stream following recent disclosures of significant liquidity challenges, including a high-interest $4.3 million loan obtained in June and a debt extension in May. The $2 million order is material, representing approximately 13% of the company's last reported quarterly revenue of $15.51 million, and helps to bolster the company's revenue pipeline.
At the time of this announcement, GNSS was trading at $1.67 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $73.8M. The 52-week trading range was $1.40 to $2.70. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.