Genasys Inc.

Good day, everyone, and welcome to Genesis' fourth quarter and fiscal full year end results call. At this time, I would like to hand the call over to Mr. Clay Laiolis. Please go ahead, sir.

Good afternoon, everyone. Thank you for participating in today's conference call to discuss Genesis' fiscal fourth quarter and full year results ended September 30th, 2025. My name is Clay Laiolis, and I'm with The Gateway Group, the company's third-party investor relations firm. Joining us on today's call are Genesis Chief Executive Officer Richard Danforth and Interim Chief Financial Officer Cassandra Montillon. Before we begin, let me remind everyone of the company's safe harbor disclaimer. Certain portions of our comments today will concern future expectations, plans, and prospects of the company that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements containing verbs such as aims, anticipates, estimates, expects, believes, intends, plans, predicts, will, may, continue, projects, or targets, and negatives of these words and similar words or expressions. Forward-looking statements are subject to certain risk and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could affect our actual results include, among others, those that are discussed under the heading risk factors in our most recently filed reports with the SEC, including our annual report on Form 10-K, our quarterly reports on Form 10-Q, and our current reports on Form 8-K. In addition, this call includes discussions of certain non-GAAP financial measures, including adjusted EBITDA. The most directly comparable GAAP measures and reconciliation for non-GAAP measures are available in the earnings release and other documents posted on the company's website under investor relations. Additionally, a replay of the webcast will be available approximately four hours after the presentation through the conference call link on the events and presentations page of the company's website. With that, I would now like to turn the call over to Genesys CEO, Richard Danforth. Richard?

Thank you, Clay, and welcome, everyone. We finished fiscal 2025 on a very strong note. For the first time in seven quarters, we delivered both positive operating income and adjusted EBITDA. Additionally, we saw over 153% year-over-year revenue growth in the fourth quarter, underscored by a 50% gross margin. This success reflects the foundation we've built over the prior quarters, and we are now beginning to realize the benefits of all that work. Additionally, as of September 30th, 2025, we had a backlog of more than $60 million. The close of our fiscal year was not only defined by executing on major backlog orders, but by replacing them with new customers and new projects. This quarter marked a turning point for Genesis, allowing us to shift our focus towards the future and position the company for sustained growth. From an operational perspective, we believe we have right-sized, efficient, and strategically aligned to execute our existing backlog while simultaneously capturing new business opportunities. These two initiatives are also becoming increasingly synonymous. By this I mean, as we deliver on these large projects, we earn meaningful credibility in the market, hence growing the pipeline and the brand. For example, Over the past several months, we have been approached by multiple countries and government agencies expressing interest in Puerto Rico-like deployments for our technology. This strong inbound demand for similar large-scale projects not only represents a significant growth opportunity for us, but also underscores the quality of our technology and its implementation. This increased credibility is opening new opportunities, growing our pipeline, and further establishing us as a leader in protective communication space. Moreover, our hardware continues to display its utility in various end markets, as illustrated by several of our last announcements, including the $1 million nuclear security follow-on order and the $1 million order for wildlife preservation. There are countless applications for our products, and we are committed to driving new business and expanding access to our critical communications technologies. On the software side, we are seeing meaningful traction build across both law enforcement and government agencies. Genesis Protect is best in class, and we are committed to expanding this technology as demand for advanced safety and communications solutions continues to grow. In a world confronted with frequent emergencies and large-scale disasters, the need for reliable, proven, protective technology has never been greater. Our solutions are recognized as industry leading in helping agencies keep people safe, deliver clear communications, and manage critical events effectively. And as the government funding begins to ramp back up, we are confident that our software solutions will be a significant beneficiary, giving the critical role it plays to ensure safety and operational efficiencies. Furthermore, to strengthen our reach and deepen our relationship with these agencies, we partnered with Julie Parker Communication, a leading expert in public safety communication strategy. This partnership enhances our ability to support agencies, broaden our awareness, and position our software within key decision-making circles. We expect continued penetration of the software market, driven by our proprietary technology and growing customer relationships. I would now like to spend some time providing updates on our large projects, starting with Puerto Rico. As a reminder, the Puerto Rico project is a $75 million contract with PREPA and is fully funded by FEMA. The project covers 37 dams across the island, which all report into seven distinct groups. The Puerto Rico EWS projects is beginning to hit its stride. In fiscal 2025, we recognize $13.2 million in revenue, from this project. Looking at the next several phases, we expect the project to be completed in 2027 with the majority of the work taking place in 2026. We expect to complete group five and six this month and are actively working on group three and have been approved to proceed on group one. Next, an update on the CROWS initiative. The CROWS AHD effort, part of the tech refresh program of record, our initial funding in fiscal 22 and fiscal 23. The first production funding was included in the 2024 federal budget, and following the successful completion of the design, test, and qualification of the LRAD 450XLRT, the U.S. Army issued an RFQ in July of 2025. In late September, we announced that we won the $9 million order. This marks the first production contract for AHDs under the CROWS program following the qualification of the LRAD-RT model. We expect this contract to generate multi-year revenues while enhancing CROWS operators' ability to communicate with potential threats before employing lethal force. In summary, while fiscal 2025 presented its shares of challenges, the fourth quarter marked a strong and encouraging step forward. reinforcing our momentum and setting the stage for an exciting year ahead. The progress we made in these final months position us to enter the new year with confidence and renewed energy. Before speaking on our 2026 outlook, I want to hand the call over to Cassandra to speak in more depth of the financials. Cassandra?