Genasys Receives $2.7 Million U.S. Navy Order for LRAD Maritime Systems

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SAN DIEGO, May 15, 2024 (GLOBE NEWSWIRE) --  Genasys Inc. (NASDAQ: GNSS), the global leader in Protective Communications, today announced a $2.7 million LRAD systems order from the U.S. Navy (Navy). The order is part of the Navy’s ongoing replacement of first generation LRADs with new, upgraded long range communication LRAD 1000Xi systems.

“LRAD systems have enhanced Navy ships’ over-the-water communications and self-protection for more than 20 years,” said Richard Danforth, Chief Executive Officer of Genasys. “LRAD provides operators more time and distance to determine the intent of potential threats not responding to radio calls and to initiate and scale escalation of force (EOF) protocols accordingly.”

Mr. Danforth continued, “In addition to the more than 4,000 LRAD systems deployed with the U.S. Military, thirty-one (31) international Navies and Coast Guards are using LRADs for a variety of missions including establishing vessel exclusion zones and restricted areas, port and harbor security, search and rescue, boarding and interdiction operations, and ship self-defense.”

Featuring rugged military construction for reliable operation in extreme maritime conditions, the LRAD 1000Xi delivers audible hails, notifications, warnings and commands that are clearly heard and understood over wind, engine and background noise. LRAD's ultra-intelligible voice messages and attention-commanding alert tones ensure communication from close range out to 3,000 meters (about 1.9 miles) to determine intent, de-escalate dangerous situations and save lives.

About Genasys Inc.

Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications Solutions and Systems, designed around one premise: ensuring organizations and public safety agencies are “Ready when it matters™.” The company provides the Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as Genasys Long Range Acoustic Devices (LRAD®) that deliver directed, audible voice messages with intelligible vocal clarity from close range to 5,500 meters. Genasys serves state and local governmental agencies, and education (SLED); enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive; and federal governments and the military. Genasys Protective Communications Solutions have diverse applications, including emergency warning and mass notification for public safety, critical event management for enterprise companies, de-escalation for defense and law enforcement, and automated detection of real-time threats like active shooters and severe weather. Protecting people and saving lives for over 40 years, Genasys covers more than 70 Million people in over 100 countries worldwide, including more than 500 U.S. cities, counties and states. For more information, visit genasys.com.

Forward-Looking Statements

Except for historical information contained herein, the matters discussed are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these statements. We base these statements on particular assumptions that we have made in light of our industry experience, the stage of product and market development as well as our perception of historical trends, current market conditions, current economic data, expected future developments and other factors that we believe are appropriate under the circumstances. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in any forward-looking statement. The risks and uncertainties in these forward-looking statements include without limitation the business impact of geopolitical conflicts, epidemics or pandemics, and other causes that may affect our supply chain, and other risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. Risks and uncertainties are identified and discussed in our filings with the Securities and Exchange Commission. These forward-looking statements are based on information and management’s expectations as of the date hereof. Future results may differ materially from our current expectations. For more information regarding other potential risks and uncertainties, see the “Risk Factors” section of the Company’s Form 10-K for the fiscal year ended September 30, 2023. Genasys Inc. disclaims any intent or obligation to publicly update or revise forward-looking statements, except as otherwise specifically stated.

Investor Relations Contact Brian Alger, CFA SVP, IR and Corporate Development ir@genasys.com (858) 676-0582

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Source: Genasys Inc.

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