Genasys

GNSS · NASDAQ

$1.33+$0.01 (+0.76%)TodayMarket closed · Oct 20, 7:39 PM ET

Prev close $1.32

GNSS analyst rating

BuyConsensus of 2 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy2
Hold0
Underperform0
Sell0

12-month price target · 5 analysts

Average $3.94 (+196.5% upside)

Low: $3.03
Now: $1.33
High: $5.25

Upgrades and downgrades

The latest rating actions, newest first

GNSS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Ascendiant Capital	Aug 28, 2026	Maintains	Buy	$6.00 → $5.00	28%
Ascendiant Capital	Jun 2, 2026	Maintains	Buy	$5.50 → $6.00	28%
Lake Street	Mar 13, 2026	Initiates	Buy	$4.00	46%
Ascendiant Capital	Mar 11, 2026	Maintains	Buy	$5.25 → $5.50	28%
Ascendiant Capital	Dec 22, 2025	Maintains	Buy	$5.75 → $5.25	28%

The case for and against

Updated Oct 18, 2026

Bull case

Genasys is supported by a compelling combination of contracted revenue visibility and expanding demand for protective communications, highlighted by the February 2024 Puerto Rico Early Warning System win that is worth about $75 million, with most revenue expected in FY26. The business also showed strong operating traction, including Q2 revenue of $15.5 million, gross margin of 63%, backlog of $58 million, and software revenue growth of 21% in FY25 after 93% growth in FY24, underscoring improving scale and diversification. Although Q3 EBITDA turned negative at -$3.1 million, management still expects a record year of revenue and profitability in FY26, with gross margins above ~50% and a return to positive EBITDA in Q4 FY26.

Bear case

Genasys is facing a weak fundamental setup, as fiscal Q3 FY26 revenue fell 26% year over year to $7.3 million, far below both the $18.5 million estimate and $19.6 million consensus, while pro forma EPS missed at $(0.10). The company’s balance sheet is strained with only $1 million in cash against $15 million in debt, and the apparent cash shortfall is tied to a delayed $13 million Puerto Rico payment, underscoring liquidity risk and execution dependence. With no Q3 guidance, reduced FY26 revenue expectations to $57 million, and leadership transition in the CFO role during September 2025 through December 2025, visibility remains limited amid reliance on hardware revenue and macro- and budget-sensitive demand.

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