After Making LRAD A Global Standard, This Company Is Looking To Repeat Its Success By Extending Its Critical Communications Platform

After Making LRAD A Global Standard, This Company Is Looking To Repeat Its Success By Extending Its Critical Communications Platform

Image provided by Genasys of LRAD 1000Xi, USS Essex, US Navy

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In 2003, Genasys Inc. GNSS created the Acoustic Hailing Device (AHD) industry by inventing and introducing its first critical communications system — the Long Range Acoustic Device (LRAD) — to the world. By adding new dimensions to mass notification systems that include controlled sound dispersion and audible voice broadcasts that feature exceptional vocal clarity and area coverage, LRAD is a paradigm shift in communications solutions that help keep people safe.

LRAD systems deliver live or recorded voice messages for any critical communications operational scenario. The system’s advanced driver and waveguide technology are meant to ensure every broadcast is clearly heard and understood, even above crowd, engine, and background noise.

Today, as the worldwide de facto global AHD standard, LRAD systems are being used for many communications and life safety applications in more than 100 countries and 500 U.S. cities. LRAD’s diverse applications include public safety, emergency warning, mass notification, critical event management, defense, law enforcement, and homeland security.

Building On LRAD’s Success

Building on the company’s successful LRAD hardware business, Genasys is aiming to achieve similar results by extending its critical communications platform with Software-as-a-Service (SaaS) solutions in an industry that has players including Everbridge Inc. EVBG and Cadre Holdings IncCDRE.

The San Diego-based company has grown rapidly  to become a global provider of critical communications systems and solutions that help keep people safe during emergencies. Industries the company serves include governmentutilitiesenterprise, and non-profit.

In addition to LRAD, the company’s unified critical communications platform includes Genasys Emergency Management (GEM)National Emergency Warning System (NEWS)Integrated Mass Notification System (IMNS), and Zonehaven emergency evacuation resources.

Richard S. Danforth, Genasys’ CEO, told Benzinga in an interview that the company has recently expanded its critical communications business with four SaaS-related solutions, including GEM, a solution that combines multiple sensor inputs with geo-targeted, multichannel alerting.

“GEM critical communication delivery channels include U.S. national warning system alerts, voice calls, emails, social media, desktop alerts, digital displays, TV, radio, and more. GEM addresses a worldwide $4.5 billion SaaS market, which includes $500 million in annual spend in North America alone,” he said.

The company’s second SaaS solution, Zonehaven, is reported to be the only complete emergency evacuation SaaS solution available, while NEWS is the third SaaS solution and features what Genasys says is the industry’s fastest location-based two-way SMS service.

“While other SMS alert providers can take up to 15 minutes to locate mobile phones of people in at-risk areas, NEWS sends location-based SMS alerts to tens of 1,000s of people in near real-time,” Danforth stated.  

At the heart of the fourth SaaS solution is the company’s cloud-based GEM software, which controls Genasys’ IMNS. IMNS is a comprehensive emergency warning platform that combines multiple sensor inputs, delivery channels, and outdoor voice speaker arrays that are not reliant on local telecom or power infrastructure.

Driving Forward

Recently, the company announced it had entered into multiple contracts with 18 California counties, including Los Angeles and Alameda. Contract opportunities with communities and counties in other states are in the works.

Genasys has had five consecutive years of revenue growth — the company generated $23 million in cash from operations while completing three SaaS acquisitions.

Genasys “expects a sixth consecutive year of record revenue in fiscal 2022. Our expectations are based on the current backlog, which was nearly $31 million at the end of December 2021,” Danforth explained.

With a growing business pipeline, the company targets $30 million in annual SaaS revenues and $80 million in total annual revenues in the next three to four fiscal years.

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