GNSS - Earnings call transcript Q3 2021

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Operator

Good day, ladies and gentlemen, and welcome to the Genasys Inc. Fiscal Third Quarter 2021 Conference Call. [Operator Instructions] At this time, it is my pleasure to turn the floor over to your host, Kim Rogers, Investor Relations for Genasys. Ma'am, the floor is yours.

Kim Rogers

Thank you, Padma. welcome Genasys and everyone, afternoon, to Inc. the Good Results Third Quarter Call. Financial XXXX Fiscal Conference with the Hayden for Rogers Kim I'm IR, Genasys. Investor firm Relations Executive With Richard Chief call the Officer Officer; Chief Financial me Klahn, and Genasys. today of Dennis on Danforth, are

based like this during forward-looking we of of opportunity to the management historical our than this statements will are make on facts, take remind Before to are this made that call expectations. you that statements I'd during Other statements begin, call, course current forward-looking statements.

our During uncertainties, we are such Future or how circumstances impact a or our business These including, expectations from of call, information are other chain epidemics as are supply These may current this uncertainties, plans, discuss which expectations. and as the of diseases, to expectations, they involve forecast forward-looking forward-looking of and or pandemics may the health outlook number on subject control. many materially performance. company's and limitation, factors may risks company's differ affect of crises risks management's statements for beyond the or future that and without based results of statements and today. outbreaks

of risks Factors potential ended Form of backlog, otherwise the except regarding and please investors information as the We the XXXX. uncertainties, Genasys metrics Risk evaluating respect to XX, September may operational stated. helpful to statements, company's specifically forward-looking more For for the those to update or we bookings with believe intent section information discuss non-GAAP which provide also to obligation refer company's the year of and XX-K fiscal disclaims the any the to period, XX total that of of months. that orders operational is to these recognition. revenue Backlog Bookings production We of given is a of next an a orders the scheduled consider ship purchase support in indicators metric executed in related purchase the future measure received and revenues timing use bookings dollar customer metrics performance. backlog and planning. regardless are internal measures value leading

call the on be my in ahead, this to this a the through time, will available Officer, Relations Danforth. X page of Executive turn to Go Chief Richard hours over approximately Richard. Finally, call pleasure replay Genasys, our website. it's At Investor

Richard Danforth

and Kim open on the an you, welcome, everybody. Thank call with will today's I business. update

Following my opening months will X recap third XXXX and a remarks, financial results. Dennis the of provide quarter fiscal

the strong Fiscal closing emergency open call my software for record Robust remarks, third Following quarter. in we management public history. and the provider, questions. fiscal bookings will acquisition third fast-growing were million, company's quarter very the a revenues highlighted and fiscal the safety a and of bookings quarter Zonehaven, largest $XX.X

we evacuation Total period our quarter, revenue. $XX a record our record are and training, of to prior tools The X comprehensive enterprise continues achieved last backlog have another cash. expected drills, million, of to we essential opportunities. serving XXXX, Zonehaven and first and backlog have layer as warning management our Through June a business people a Notification that year Both significant catalyst serve. continuing generate backlog and software was Zonehaven with revenue added position System, By provides Genasys XXXX protect operating record software the the of is, public. generated software another June in and Integrated the between help Integrated Know booked Notification Mass fiscal are June, in On and and strong and a acquisitions I bookings in hardware positive integrating year year repopulation fiscal as $XX.X responders community to empowers completed our have program earlier first for revenue fiscal year, regional in months was quarter, over and total. exceeding to third Zonehaven. in national offer million key XX-month acquisition achieve we we million, the GEM and In they outreach planning, emergency Mass quarter, our and prior to Systems year. and we XX, acquired year securing increase Amika fiscal gap we a company agencies competitive Over backlog fiscal Mobile For third XXXX, $XX.X management XX, advantages as and will the with GEM to calls first same and years, Your bridge we at the fiscal it X operating alerting local, at XXXX, XXXX. record software-as-a-Service And safety X the any bookings, contracts. Zonehaven Addressable public enterprise in software produce fiscal that. $XX.X this $X said Zone million XX% million. cash.

profit Our to combined revenues margins. enhance systems software solutions and are recurring sales, and increase grow expected

system discussed made Union are increasing. France warning its selected to call, award. French The system. an European month, of RFPs last country this our Estonia As public warning a implement on company Earlier public

The in was than has longer went price for to due decision-making to we contracts are the each price lowest number rated timeline the anticipated, taken and technically, Genasys the issues originally award COVID-related process bidder. of EU. The country's mainly X Although were awards at varied and ongoing dynamics second complex.

safety and in Europe Australians XX and NEWS features we SMS and endangered teams development over location-based we completed winning EU and advanced network engineered, and technology, flexible confident for continue telecommunication utilities, and competing and are or public team. awards. system cell-broadcast Multichannel voice turned operate Notification industry-leading With mobile and power business notification participating commissioned fails quarter, Our for calls, disasters system voice events. to built arrays off PSPS protocol, citywide European-based Last in are software X solar and power and Union or our e-mails, public more deliver alerts U.S.'s satellite social early Genasys and warning than desktop in activation customizable other by GEM California. European alerts, acoustic customers countries mobile and warning alert supported Integrated SMS, by Laguna Genasys enables to connectivity, a Genasys multiple all is Featuring options warning via Beach, Mass when sent the years, power and operators. industry-leading XXX and million media, infrastructure [iPause] by more. last engineering the to common geo-specific emergency Genasys-powered shutoffs alerts government delivered life-saving

the a on or yards wildfires, storm and own Management projects have opportunities of States. California capable announced coordination from carelessness In more. fires creating Because Western at drought, planning, shifting per expected safe. mega and conditions, ongoing local protect up speed the Mass Zonehaven dry systems weather, combination be roles wildfires other created finalized management better business help Emergency moving intensity their In and pipeline to The weather. Notification perfect is human of rapidly the large with tender training evacuation alerting of this and second addition of United with firefighter's are System law filling lightning strikes to and XXX for and enforcement keep Genasys increasing these hot integrated to software software people evacuations for and capable successfully towards regional year, of Integrated conditions, is wind, manage

integrated anticipate fiscal warning public and systems growth and and in only substantial in unifies and our notification management beyond. provider Zonehaven inputs, mass international sensor the solutions, that U.S. multichannel segments evacuation of systems As we XXXX safety alerting

software Our North gaining Genasys momentum business enterprise is throughout America.

America international The to cities, software are enhance feature is part and adding resellers. teams sales outside expected and government GEM with opportunities enterprise to year. U.S. to with North finalized. continue software software to contract counties customers' business international and to departments major this other continue facilities meet are our and enterprise also We and its a pipeline. our close and and fiscal automaker our with service U.S. services calendar grow expansion global being software sets of needs internal GEM robust a software contracts growing corporations of

last lighter the project addition of system In on program The U.S. make received to technologies record we next-generation focusing and smaller, and development acoustic louder. completed project announced last orders research quarter, December. of Phase army SBIR the mass is mobile Navy to devices X and the large developing notification

this anticipate decision submitted proposal we year. Our award and Phase has X been an calendar

defense New this With business fiscal the to is over that, call Dennis. and international expected XXXX. year I'll and and in turn U.S. follow-on

Dennis Klahn

million, Thank you, Richard. X% from XXXX $XX.X prior third up the Revenues year quarter. for were quarter the fiscal

As compared X%. prior the up $XX.X year same to period, revenue million, LRAD was

million, quarter from Software higher $X.X quarter was Mobile due quarter revenue was or revenue due to year third our per $X.X to the third United marketing Gross sales growth support license. XX%. administrative decrease for the the a the was was were GEM new including million Higher quarter $X.X million compared personnel, were in in due revenue the with opening and ago, The was fiscal in a as due percentage to million expenses Gross XX.X% and of general expenses Australia, same and employees selling, IMNS largely lower additional up to software personnel on share, in quarter the revenue from this Singapore, offsetting software XX% subsidiary, in largely enterprise revenue decrease $XXX,XXX, fiscal primarily profit and third sale in XXXX. the to margin XXXX the increase Canada; XXXX additions for revenue services from $X.XX related. recent Emirates EU future growth. a The of income support resources $XXX,XXX, XX% gross increase Net increased of professional of the Puerto in of up and down initiatives a quarter. contracts software Zonehaven Communication Amika the in in and $X.X Operating Genasys fiscal was the period software third to profit future and to Rico. increase primarily and Arab was a Canadian year software profit sales fiscal XXX% opportunities, XXXX. XX% software the expenses, and offices engineering and revenue the

year, were the XX% fiscal the the For with for profit the XX.X% from due $XX a over X million, year-to-date to $XX due percentage margin primarily months in was last in in of as expenses, largely of $X.X revenues Operating to in Gross the X up million business months XXXX. increase million in loss net for the revenue $X.XX year the last personnel year of future diluted of fiscal from $XX.X million $X.X gross support expenses with was software XX% marketing personnel the were first first enterprise year. of over up million months period. engineering the higher Net to in compared XXXX. lower income period, million, same compared decrease and prior compared initiatives. months a Gross last profit to $XX.X or per same and in opportunities. XX% XX% the per X increase X revenue first to was by prior XXXX, breakeven period growth a share profit Australia, was operating EU period fiscal year due the offset higher primarily to support the and or the year diluted partially This share current sales

Our $XX.X XXXX. securities to September compared balance The September with million capital totaled of offset and of sheet in fiscal of Working XX, primarily respectively, in XXXX, XXXX. $XX.X Amika marketable back the purchase equivalents was deposits. that, on the the acquisition due on and working remains to the quarters compared Cash, Zonehaven million on use totaled June XX, strong. call million $XX.X cash to larger XX Richard. turn Mobile complete amount customer million With on asset I'll a capital decrease June and first $XX.X over year by XXXX, cash XX, third to

Richard Danforth

continues of a X With demand warning, and year Genasys's fiscal on multichannel the the East revenue uniquely synergistic our backlog Pacific the and rapid to fiscal needs communications important company Dennis. to on staffing XXXX offices suite I'll revenue accelerate Middle and teams, in growth unified of business and our and are for software augmenting positioned Genasys shareholder achieve global elements be growth hardware the opening sales engineering software and notification fiscal value. you, full strongly adding for Increasing and mass back robust software driving maximize and fiscal enterprise transformative Thank it year in year emergency turn business safety and Q&A. systems platform record Based and capitalize and public revenue year in our acquisitions, and for and Asia markets. sales another to positioned record critical to is and solutions. bookings record operator pipeline, XXXX. now backlog to is

Operator

Latimore Mike from first Capital question Our Instructions] [Operator with Market. comes

Anchal Sahu

This is pipeline UAE Anchal focused enterprises reasons? of the Singapore you sales or an offices. More and business Sahu those the update on out for just give government and me Mike. or Could on

Richard Danforth

UAE, Well, the with systems impacted the the are solutions. multiple But opportunities office, of there's much system we we're both APAC That is in opportunities APAC In the largely With shutdown. in integrated similarly, that most region countries still is. we that East part countries. Eastern shutdowns have down of world COVID-related is as significant prosecuting include a and APAC that most region shut said, across the not region. software-only it's Middle that not the prosecuting Middle across countries as

later but We office a out can well. office and of or that countries have specific in of those I Eastern have me, Africa, provide European new we're region, don't date. at in opportunities the by numbers prosecuting we as The front

Anchal Sahu

in how much quarter? software And the booking total Okay. of was

Richard Danforth

do have I have number? revenue booking, the you

Dennis Klahn

mean I revenue any in about we've $XXX,XXX. than which total was is bookings. year X software Year-to-date revenue $X.X last don't is have had I years. million, the more the the in

Anchal Sahu

the Right. revenue? you And like -- don't give higher revenue than but XQ could specific should you guidance, the QX be as

Richard Danforth

the repeat you question? Could

Anchal Sahu

Yes. should XQ than specific the higher Like XQ be as revenue? revenue you give guidance, don't

Richard Danforth

yet What fiscal another is I've XXXX year. be that said our will revenue record

So $XX we year in year, We're revenue. million at last total $XX? did

Dennis Klahn

Yes.

Richard Danforth

revenue QX. million $XX through in

in last will total do we do match supply QX, that, more issues, just year's addition said, to revenues have record and would So chain to record I And to the but as than QX. revenues with of $XX expect we year related total, notwithstanding other still million. do we

Operator

Martin comes with Our Yang next Oppenheimer. from question

Martin Yang

do My first expect maybe to near-term outlook expect you about the you for total? achieve question your is of when it revenues. of XX% to software maybe Do share -- it

Richard Danforth

For software? Is that the question?

Martin Yang

Yes.

For software.

Richard Danforth

certainly exceeding was next expectation XX% be year. My we'll

Martin Yang

expand near-term the priorities? organization, is, the breakeven And your you structure force to software is or the and operating Got follow-up achieving part of it. for as of that support sales midterm

Richard Danforth

Sure.

you emerge grows, point -- will we software covering that, company. then very a high as still will be the it year as beyond it business that, know, where gross a very the As cost. -- a provide stages company. to position the early to from own again, the position I next to And it favorable has in -- but expect We're reaches its margin that from of for to

Martin Yang

on question context us able kind last from be you level operate Got business Can would maybe what revenue it. And profitably? provide software to you more me. of with when and

Richard Danforth

I publicly. don't think we've provided that information

Dennis Klahn

We've not.

Richard Danforth

that We'll answer work on and to get that. something out publicly

Operator

question next with comes Ascendiant Our Capital. from Ed Woo

Ed Woo

quarter. the on Congratulations

of chip shortages all, that at terms supply any In shortages, chain the transportation delays? any issue issue impacted your or business and have

Richard Danforth

been in redesign that supply We've available Sure. to are We've the had delays. commodities to chain. required

exactly we And internal we We have forecast, to than that, all that be our met have -- have more of we said revenue be. to year forecast, albeit, it ago. expect QX a had put where planned having forward we we

together that. working needed challenges, it chain team operations engineering to solve we been the the have redesign redesign, that fundamentally be by by and when do to So team supply the

Ed Woo

Great.

like you it really you your that So sounds targets? impacted able hasn't if much, to were still guys it meet

Richard Danforth

though, successful. Underneath that Ed, lot We very I sure to have. impact And the they've they'll to people there's been doesn't working covers, a expect be make successful. us. it fully And continue of

Ed Woo

on Great. is the And my then question EU. last

as do I did feel with you announcing these Estonia. mentioned opportunities Do now guess, there their than the and still confident to, countries you You France as contracts? X you prior

Richard Danforth

I do.

simple in wins, so that. or disappointing to a And year that Estonia that's be people a more many is be experienced a that one reassuring X against low will than that but I been with people On field the I'd not a was that advantage. in is what where live going million there, not feel business cases home country there of a technically small we lose in win number fact, for think more long people, for that price have time very probably In France. I to very validation strategy. I mentioned coming in will confident. state we're a our there have

and will. countries I in are are There's on to then countries my several mobile our RFPs RFPs government XX quarter, There's all And not else not as criteria mix. QX There QX price. again be are simply network There price, fiscal XX now. additional out believe now. remarks. somebody our out But larger. put large in and we based that fiscal in announcements mentioned based speak on award I countries And going next and small operator number in expect will when beyond. that award I

Operator

with Richard Our next comes Neaton Rivershore Investments. from question

Richard Neaton

Zonehaven the the for ROI acquisition the company stock and the of of given your question paid concerns in in price terms My thinking involved cash.

this the a shares acquisition. and return period short-term you thinking of over in new You primarily of dilution preexisting of what issued number time How mentioned isn't your are what shareholders? financial-based investment terms that percentage to on in you the given of return,

Richard Danforth

for a been A comments. X One, years. Zonehaven couple start-up company. It's a is business of

So the multiple revenue work. see will or believe doesn't and their is from if multiple say that earnings, it pipeline to and -- range. XXXX, try our it. in we're I won't you XX-month growth Zonehaven, of ahead X explosive will I fiscal expect just beginning to be look I it do on a multiple on our expectation robust, on a

Richard Neaton

at And was that primary the determinant an expectation acquisition multiple that of price? arriving

Richard Danforth

diligence, was the users sales met users there And it customer for line. base, into software due people. is force It we product the certainly product. zealots. the was But are the best was was it. of part that -- with this the the weighed They're It the of

fires digits year in are season ago. using those, the XX we're Zonehaven early California, of Northern up from software. season, just and about a the That's at single you If fire in look this

that as excess if in grow, believe, will continue at we So believe I we XX another a what the Zonehaven, paying year be basis for I on months. said explosively. for of, to I we it go-forward multiple would revenue waited of next And a for it valued was

Richard Neaton

Okay.

say, software what see do and U.S.? presenting your opportunities APAC other business, in you and -- for the So of Australia, Zonehaven parts Europe,

Richard Danforth

that to answers Several question.

A also platform Zonehaven be integrated I with as in sold of system continue to my will layer not Genasys it outside software version be has sells. as a remarks, enterprise Zonehaven and reached in will California. as is. of Northern the mentioned be offered that offered GEM So the will Zonehaven

plans have the the for is Australia no-brainer. opportunity a The where evacuation outside U.S., great Zonehaven all already software of in are. from We expansion the is Zonehaven. software a to me knows Genasys Layering phones

APAC have the throughout the and We opportunities in Asia, East. States, the Middle region United

our from was our and So our said least And should believe year and -- of both marketing expansion at fiscal stop my this we software. I and that, was and both a GEM, XXXX. rewards remarks, part to sales Zonehaven part year reaping for effort hardware the as transformative expand a in in I in

Operator

with next Our UBS. Myles from question Wittenstein comes

Myles Wittenstein

questions. A couple of

Britain And there's competitor. market? one. think they in Is compete stock First to The our awarded last if so, went we enough buybacks? second second, mentioned up justify that is, in And buying? you other we question added where Estonia in finally, that we those are were ended Number that versus actually Great that contracts value you what actively the in did of on way? Are all, why pricing are think you where And came -- -- you to what do the do price.

Richard Danforth

Last question first.

EU. is we're a mass they're U.K. of way, not active almost -- and We not they U.K., And the to have have program, it. part old. using Relative decade notification requirement the the for had but the by an

So regarding they comments never my part the EU. were of

chain was which occurred, urgency that that place, pandemic a felt they working did system get not a been the in and and system to include only country they there that had supply Genasys. from did XG XG the since cell part XXXX, broadcast buy With an for of that

case the country, Estonia, In XX% some simple, second each out your each case, price of complex the with, the case as terms remarks, recall, I my was I comes and the was technical In on in some of mentioned criteria. way very question and evaluation as country weighed Estonia weighed price, XX%.

imbalance. it's So

it's to your So I if agree XX-XX, do. with were impossible XX/XX, would comments. almost it

Operator

Our comes [Michael next question from Morelli].

Unidentified Analyst

stockholder. long-time a I’m

we're point for "in all because fact, in that investing for XX old, and and saying to spending at the do you comes is, last where think we're following I'm and growth, stop growth. this question turning the long saying In Keynes And and run, in old everything in, into years what company several years. quarters, all point the you've it I've future I'm from I that I'm been dead. else future yes, XX start this been my " the now And money getting the saying, profits.

Richard Danforth

that would part X fiscal the We've at investment despite a for positive, Well, in investments generated months. the we are in for million we've also even first, cash that Those despite our $XX million investments. cash. past least flow $XX operating XXXX booking stated in X the through we responsible $XX been be profitable and profitable years. significant that I've million, planned for

prior to We're was have million, I higher Our substantially go. full $XX.X year that, and booking full record than quarter we a think.

So revenue for that again, we record XXXX. backlog of year with fiscal excuse Michael, enter XXXX, another will our fiscal me, support, will our a

and from XX% That's world company. top has our line last CAGR and for net marketing. years. So And income, X of the we've while delivered the and under cash, operating income in lots at a around engineering revenue been just the growing investing

Unidentified Analyst

I sticking all of appreciate time. course, such long been a that. know for that. all I've you I And with

when are to I'm stocks to are up. earnings I because the However, still profits question even earnings, stockholders to are why reason the see the going miniscule, looking net are we the to which for reform guess, operating go I compared only still price. should going the their And say maybe reported buy

Richard Danforth

said, earnings as every I years. for up Our have year, the last gone X fiscal

Unidentified Analyst

that to me wait. waiting and much to And I more and right. Well. don't seems have All waiting It time waiting.

Operator

[Lloyd Corton] with from Unique comes question Investments. next Our

Unidentified Analyst

few Zonehaven incorporated questions. be for will in a Well, into RFPs those? the Europe, have I

Richard Danforth

Not initially.

like but clearly no for that system I -- requirement countries SMS where the Lloyd, mentioned, yet, of the where there's upsell the all opportunity, that particularly in location Australia, put the as of all I where, a So an we of location that's in is integrating known, already no-brainer of you said, the platform, all the of the software -- all phones, excuse the the people is me. phones as because Zonehaven have in

Unidentified Analyst

wouldn't an It that have else which advantageous has? as we this, be upsell nobody

Richard Danforth

It will the certainly but it our won't be of going part into pricing. be proposals,

Unidentified Analyst

of there Okay. are is that In the rest Europe, multiple carriers in correct? each country,

Richard Danforth

Yes.

Unidentified Analyst

are the with or And negotiating we individual or government what? carriers with

Richard Danforth

depends cases, In It the depends. It government the the the of country structure thing. on RFP. of some the like whole ran Estonia,

for I government. X end Estonia the individual carriers then and were in front As recall, there the

So there cover to other RFPs. RFP would X countries, activities. that In X be were X

Unidentified Analyst

us more there have advantageous for feel to each RFPs country? You separate it's in

Richard Danforth

gives you It win. better opportunity do. a I to

country. may the may and better you relationship a a have You have better with network a one And of partner another carriers.

Unidentified Analyst

in a have we strong Spain? position Don't

Richard Danforth

certainly Sure. do. We

Unidentified Analyst

there's country like we'll that if good possibility there now remembered. out another you have already feel that you we're Do something seeing of capacity, a get and

Richard Danforth

fair think RFP and going to be process. I it's open a

Unidentified Analyst

in release acquisition. I you the cost come on of SEC Also, saw that going through. call, never last Okay. to an an the were something

Dennis Klahn

There disclosed, price. that the believe. was disclosed an was I sure that I'm that X-K purchase filed it -- pretty

footnote or sized first in good filed the it's the In today be thing addition, a XX-Q morning. will that in

Unidentified Analyst

What purchase was that price?

Dennis Klahn

It million. was $XX.X

Unidentified Analyst

Say it sorry. again. I'm

Dennis Klahn

million. $XX.X

Unidentified Analyst

acquisition? which for was That

Dennis Klahn

Zonehaven. For

Unidentified Analyst

or stock what? cash, in million $XX

Dennis Klahn

and Yes, stock. both. Cash

Richard Danforth

XX-XX.

Unidentified Analyst

the RFPs, that's countries software. in doesn't, how you the believe. our because you that speaker How the Okay. only much competitor or I be stated, to addition ones have system our are we we're think have physical important to as and going that showing these interest In do

Richard Danforth

but a manufacturer that the expect an only come we enterprise proposals. warning side from put awarded factories the would part sure. we and factories that automobile quarter, it's America counties I is to last for national their in again, enterprise our the acoustic of outside It's upsell that not it's opportunity. devices, it North contracts And we're do inside both more correct. In here And mentioned the in and Laguna the requirement, shortly. in cities systems, their difference You're emergency there's the market, say, that. like that significant to Beach, to ones in be

So County Beach We acoustic devices, win. Riverside software has all software. Laguna announced the has

sensors. opportunities other additional the it's in and of the It's counties the And hardware, the in and Lloyd. lots software, expect here control whole the and it's software. beyond. We Riverside command package, It's California it's

Unidentified Analyst

It just a their opportunity. everybody phone has not reception. And out die, a that an they selling In speaker I it's would don't there. lot critical that batteries them, would cell for emergency, have the people of on seems be system their think

Richard Danforth

assessment Your is correct.

Unidentified Analyst

like, or what nobody we with an It contract just something a their seems Also, have has. college college? else was you there Cambridge was redid that of announcement guys. that something,

Richard Danforth

Canada. in Lambton College

Unidentified Analyst

we in Are anywhere Are other any country? with working colleges? getting we with other colleges this country or

Richard Danforth

we're down States colleges Coast. colleges Canada. in United and the in several And several in up the in We're sorry, -- Sure. I'm East

Unidentified Analyst

-- or I announced Oh, they just have been been... know didn't

Richard Danforth

we're Frequently, announced we're They're them. from when allowed prohibited to doing that. announce

Operator

Wealth. Our with Wagner next Stephen question Integrity from comes

Stephen Wagner

any you personal mean guys mean, any to little headwinds expecting talked recognition Were have Kim. for actual Obviously, the there? really my was quarter. I just COVID there welcome delays -- -- aboard, much revenue I view. That's own as that? I think A -- shutdowns. And about bit fantastic. did bookings to a that Do delays, of larger you are the contributed curious

Richard Danforth

No.

Steve, As -- I expected me, QX, it right was in excuse to be. our said, revenue QX where we in

Stephen Wagner

Understood.

if... And Okay.

Richard Danforth

of converted we quarter plus backlog $XX.X million million ahead remember, us. And came backlog. $XX and with into we fiscal another year book have of the And Now in this we that fourth bill. Steve, still have

Stephen Wagner

should I getting next split be and bleeds that It just into and achieving of XX-XX is another should fantastic. my year. in kind think had, Understood. then another the next And talked call years. the -- before be fantastic It achieving last X And between to prior, you call in revenue, you X $XXX I software million this hardware in and about Zonehaven, question.

CAGR if personally, from XX math that's bit encourage be of this you forward, going do at look those that. today numbers X on talking million, that's And CAGR. years, they've call a the little that an that a we're XX% single-digit trailing on communicated And $XX should be the I and yet may just On feel, those make analysts at CAGR. statement. their XX% estimates, years, So I you to when numbers. look do close X months, math I mean on you I some heard a that better. would mean think you to about like

an of editorial more just that's comment. So

that. to was But a You question. don't before acquisition. reply That up need with to would follow the I quick that Zonehaven like to

that we've acquisition. Now made

you very And have What expect theme and that us it's a now. come, of be confidently it it would should time years? has now be but this agree I You earlier terms $XXX It's more. revenue be? powerful should to right only growth now Could say million that than in think what that this. product on thoughts? that? number to are What appropriately call couldn't Should from your I revenue and closer X not we indicated

Richard Danforth

X. As closer X said company $XXX million that us Zonehaven in The years. times X to acquisition to get multiple than before the you Steve, be I've pointed there would out, X will

think... I So

Stephen Wagner

are, here got company... So we we the

Richard Danforth

is a deal. FY big XXXX Yes.

Stephen Wagner

Yes.

our so company over have going institutional I'm more seen I of I've been opportunity just that's shareholders a from software declined interest still for got what CAGR, well, story remarkable. interest. revenue of an ownership or to XX% of than significant can would yet a these our of not to radars the that or in and that to many funds, got need terms of very get they now we But folks Kim, shareholders, of there standpoint. we a think able X lackluster front out are X to an And cap more more this lose you've cap, in years. and alone has more because that years to the appreciative And They're growth We don't we it. over institutional need just growth I a we're last kinds micro growing I we're the if these see and here good been will here, wonder wait wonderful buy in for, institution. So shares is to opportunity create with that has there doubled they're our news just I couple need hope that million. other when in story. on company years. that And and get loyal us potential. get see at that in we mean small and noticed last massive

earlier, I other I that some have Europe, I alluded that and appreciate to you is your The and delays. question comments know regarding

call things in was One more that X of an of mentioned to there would last in second Genasys that award than the be the expectation the you quarter.

quarter. wouldn't Are Now second that are Are still been obviously, to in to announced there? we sometime comment you all accomplished? it quarter, we the to with regard following in Where on Has that? the at expect but be confident that? able you

Richard Danforth

announced, X that Steve, been France have and Estonia. the Only

Stephen Wagner

But Fair enough. you're Okay. still...

Richard Danforth

position highly the in About my EU. remarks -- in my -- towards remarks pointed our confident we're

Stephen Wagner

different their the I importance, product be. and that you been have who offer. opportunity have of But should and that's we Estonia terms have and as that. again, mean, Again, we in you goes. in the said, they if would they it's parameters, just a to have are own way won waiting it clearly Understood, would are as they fantastic

gigantic were for you preparing North us or in an our versus competition another competitor Moving have, on in of them I give in you for America. in had fact I know the update world. question throughout largest us that other locations on anticipated wins other to our that? proposals Can larger face that seating obviously, in competitor, X the BMW,

Richard Danforth

that mentioned my remarks. I Sure. in

sorry, expect a I'm American a country. Latin -- for a North and contract We American

the from a are another country. contract country European a Latin American expect working third company. we for And same We

Stephen Wagner

Fair enough. now year by Fair it. and it enough. that would And prohibited. Waiting the time and acquisition expensive, that lot on to I Zonehaven do completely way, agree have the even completely more a maybe made a is love

that. on congratulations So

But fiscal on to would now detail one guidance explosive a out and we think comments that's but think it going dividends. comment. the us a the of more forward going this bit very if work, regarding that. to find knows think us just means. your what growth, your significant in I that a it just projected I to dollar give our And of do maybe way That's fantastic think amount. if what from I fantastic a an appreciate help, XXXX. did to that's would helpful rest pay none hard really little you somehow here be a editorial on you I I appreciate were that we and And future thing to year look in able investment is to guys think about. is again,

Operator

was looks our like question. final that It

Richard Danforth

business We events you. discuss during at Thank year. the investor regularly our

to we for participating these year join invited you this You're today's forward report year, call. Thank We XXXX to when look you again fiscal in results. speaking with us events. later for

Operator

Thank call. We thank today's your you. participation. This conference for concludes you

your time, great may You a day. disconnect have lines and at this

Genasys (GNSS) 29 Jul 212021 Q3 Earnings call transcript