GNSS Genasys Inc. - Common Stock

NASDAQ · Communications · View on SEC EDGAR ↗
$1.87
Price · Aug 18, 2026
Fundamentals as of Aug 13, 2026

About Genasys Inc. - Common Stock Company overview from Wikipedia

Genasys Inc. is based in San Diego, California. Its long-range acoustic device (LRAD) products are used for long-range acoustic hailing and mass notification. Its software-as-a-service products Genasys Protect and Evertel are used for zone-based multi-channel communication and secure messaging and collaboration, respectively. Genasys Acoustics are integrated speakers used to send long range voice broadcasts. The company was previously named American Technology Corporation (ATC) until 2010 and LRAD Corporation until 2019. The company's stock trades on the NASDAQ Capital Market with the ticker symbol "GNSS".

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Genasys Inc. is based in San Diego, California. Its long-range acoustic device (LRAD) products are used for long-range acoustic hailing and mass notification. Its software-as-a-service products Genasys Protect and Evertel are used for zone-based multi-channel communication and secure messaging and collaboration, respectively. Genasys Acoustics are integrated speakers used to send long range voice broadcasts. The company was previously named American Technology Corporation (ATC) until 2010 and LRAD Corporation until 2019. The company's stock trades on the NASDAQ Capital Market with the ticker symbol "GNSS".

History

Genasys was founded in Utah by Elwood "Woody" Norris as the American Technology Corporation in 1980. From 1988 to early 1992 the company was inactive. Norris recapitalized the company as a Delaware Corporation in 1992. In 1996, the company launched its first directed sound technology and began engineering sound solutions for the commercial, government, and military markets.

In response to the October 2000 attack on the USS Cole, the company's engineering team developed their long-range acoustic device (LRAD) product line. With the introduction of LRAD systems in 2003, the company created the acoustic hailing device (AHD) market, followed by the introduction of multidirectional mass notifications systems in 2012.

The company acquired Genasys, a Madrid, Spain-based software provider of location-based mass messaging solutions for emergency warning and workforce management in January 2018, and subsequently adopted the name Genasys for itself.

In 2020, Genasys acquired Amika Mobile, an Ottawa, Canada-based enterprise software provider of critical event situational awareness, communication and control products. It was subsequently renamed Genasys Communications Canada. In a June 2021 acquisition, Genasys added Zonehaven, a California-based company specializing in emergency evacuation software services and resources.

In May 2021, the Greek police held a press call which showed them using a Genasys LRAD 450XL to deter migrants from entering at the border. The European Union has expressed concern over Greece's use of the technology and whether it contravenes the European Union's laws on fundamental rights.

In September 2023, Genasys acquired Evertel Technologies from Word Systems Operations for about $5.8 million.

Los Angeles County suspended use of Genasys during the January 2025 Southern California wildfires after an "alert was erroneously sent out to nearly 10 million residents". The County resumed use of Genasys later that month.

After San Diego County implemented Genasys in 2024, the technology was used by the county and City of San Diego in January 2025 to safely evacuate residents from wildfires.

In 2025, LRAD was referenced in a controversy surrounding the alleged use of Long-range acoustic devices by law enforcement as a weapon during anti-corruption protests on March 15 in Belgrade, Serbia. In a social media post, Genasys claimed that evidence they had seen did not point directly to the involvement of their devices, however purchase reporting suggestions their technology was installed on law enforcement vehicles present at the protests.

The Maui Emergency Management Agency launched Genasys on May 1, 2025, to enhance emergency operations and evacuations for residents and visitors on Maui, Molokai and Lanai.

In June 2025, Santa Barbara County began using Genasys Protect mapping software to assist first responders and county residents during evacuations and other emergencies.

The City of San Jose, California implemented Genasys Protect hours before the Ranch Fire started in the East San Jose hills June 17, 2025.

Products

Genasys Protect - Zone-based communication and targeted multi-channel alerting software. Genasys Protect is used to help alert in harm's way quickly with targeted geographical zones, tested evacuation plans, and consistent communication during and after a critical event The State of New Hampshire selected Genasys to send emergency and non-emergency notifications through single or multiple communication methods to keep residents and visitors informed public safety messaging and severe weather-related notifications. The State of Oregon's Office of Resilience and Emergency Management entered into a multi-year contract with Genasys to provide emergency response planning and evacuation management.

Acoustics The City of Berkeley introduced a new outdoor warning system to alert people of wildfires and other critical events. The system includes 15 Acoustics outdoor speakers installed on buildings throughout Berkeley. The Acoustics systems broadcast siren tones, audible warnings and voice instructions.

Evertel Evertel provides secure, real-time communication and collaboration for public safety agencies, financial services, and secure business communication.

Long Range Acoustic Device (LRAD), is a directional acoustic system designed for long-range communication and mass notification.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

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GNSS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$1.87
Market Cap
$84M
P/E (TTM)
-4.7
EPS (TTM)
$-0.40
Revenue (TTM)
$41M
Div Yield
ROE
-354.3%
Debt/Equity
8.3
52W Range
$1 – $3

GNSS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $41M
10-point trend, +149.1%
2016-09-30 2025-09-30
EPS $-0.40
10-point trend, -900.0%
2016-09-30 2025-09-30
Free Cash Flow $-9M
9-point trend, -587.6%
2016-09-30 2025-09-30
Margins -44.4%
9-point trend, -11.3%
2016-09-30 2025-09-30

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
GNSS
Peer Median
P/E (TTM)
5-point trend, -102.4%
-4.7
40.4
P/S (TTM)
5-point trend, -43.4%
2.1
1.2
P/B
5-point trend, +1115.6%
39.0
1.5
EV / EBITDA
5-point trend, -132.1%
-5.6
Price / FCF
5-point trend, -140.3%
-9.4

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
GNSS
Peer Median
Gross Margin
5-point trend, -21.0%
41.6%
34.2%
Operating Margin
5-point trend, -393.5%
-41.2%
Net Profit Margin
5-point trend, -261.0%
-44.4%
-1.3%
ROA
5-point trend, -253.4%
-30.8%
-2.5%
ROE
5-point trend, -1418.2%
-354.3%
-3.8%
ROIC
5-point trend, -458.8%
-83.9%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
GNSS
Peer Median
Debt / Equity
5-point trend, +49666.5%
8.3
40.4
Current Ratio
5-point trend, -75.3%
0.7
1.8
Quick Ratio
5-point trend, -86.5%
0.3

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
GNSS
Peer Median
Revenue YoY
5-point trend, -13.3%
69.8%
Revenue CAGR 3Y
5-point trend, -13.3%
-9.0%
Revenue CAGR 5Y
5-point trend, -13.3%
-1.1%

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
GNSS
Peer Median
EPS (Diluted)
5-point trend, -2100.0%
$-0.40

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
GNSS
Peer Median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
Payout Ratio
5Y Div CAGR
Ex-dateAmount
June 13, 2016$0.0100
March 11, 2016$0.0100
Jan. 13, 2016$0.0100

GNSS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 9 analysts
  • Strong Buy 2 22.2%
  • Buy 6 66.7%
  • Hold 1 11.1%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

3 analysts · 2026-08-14
Median target $4.50 +140.7%
Mean target $4.50 +140.7%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
-0.02%
Period EPS Actual EPS Est Surprise
June 30, 2026 $-0.10 $0.02 -0.12%
March 31, 2026 $0.02 $-0.02 0.04%
Dec. 31, 2025 $-0.02 $-0.01 -0.01%
Sept. 30, 2025 $-0.03 $-0.03 -0.00%
June 30, 2025 $-0.14 $-0.11 -0.03%
March 31, 2025 $-0.14 $-0.13 -0.01%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
GNSS $111M -6.1 69.8% -44.4% -354.3% 41.6%
LTRX $112M -9.9 -23.3% -9.2% -14.9% 42.1%
AVNW $304M 239.4 6.5% 0.31% 0.52% 32.1%
OCC $65M 9.6% -2.0% -8.2% 30.9%
KVHI $136M -18.3 -2.5% -6.7% -5.5%
INSG $158M -57.1 -13.1% 0.50% -11.5% 42.7%
CMTL -0.3 -7.6%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 18
Annual Income Statement data for GNSS
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +65.7% $41M $24M $47M $54M $47M $43M $37M $26M $20M $16M $17M $25M
Cost of Revenue 12-point trend, +119.8% $24M $14M $25M $27M $24M $20M $19M $14M $10M $9M $8M $11M
Gross Profit 12-point trend, +23.2% $17M $10M $22M $27M $23M $23M $18M $13M $10M $8M $9M $14M
R&D Expense 12-point trend, +226.7% $8M $10M $8M $7M $5M $5M $5M $4M $3M $2M $2M $2M
SG&A Expense 12-point trend, +222.4% $26M $27M $25M $23M $17M $12M $11M $11M $9M $7M $5M $8M
Operating Expenses 12-point trend, +223.4% $34M $37M $33M $43M $22M $17M $15M $14M $11M $9M $7M $10M
Operating Income 12-point trend, -605.9% $-17M $-27M $-11M $-16M $1M $6M $3M $-1M $-807.7K $-2M $1M $3M
Interest Expense · · · · · · · $20.9K · · · ·
Interest Income 3-point trend, +109.6% $285.0K $237.0K $136.0K · · · · · · · · ·
Other Non-op 12-point trend, -5864.3% $-1M $-5M $-10.0K $60.0K $54.0K $127.0K $221.0K $107.0K $128.6K $125.5K $121.8K $20.5K
Pretax Income 12-point trend, -638.2% $-18M $-32M $-11M $-15M $1M $6M $3M $-1M $-679.2K $-1M $1M $3M
Income Tax 12-point trend, +632.2% $119.0K $-405.0K $7M $741.0K $434.0K $-6M $572.0K $2M $197.6K $-186.2K $-8M $16.3K
Net Income 12-point trend, -644.4% $-18M $-32M $-18M $-16M $704.0K $12M $3M $-4M $-876.8K $-1M $10M $3M
EPS (Basic) 12-point trend, -500.0% $-0.40 $-0.72 $-0.50 $-0.44 $0.02 $0.36 $0.09 $-0.12 $-0.03 $-0.04 $0.29 $0.10
EPS (Diluted) 12-point trend, -500.0% $-0.40 $-0.72 $-0.50 $-0.44 $0.02 $0.35 $0.08 $-0.12 $-0.03 $-0.04 $0.29 $0.10
Shares (Basic) 12-point trend, +36.2% 45,056,436 44,316,865 36,939,335 36,495,012 34,409,478 33,220,915 32,689,028 32,492,645 31,855,430 31,970,600 33,174,546 33,077,556
Shares (Diluted) 11-point trend, +34.7% 45,056,436 44,316,865 36,939,335 36,495,012 35,589,148 34,092,328 33,397,095 32,492,645 · 31,970,600 33,574,919 33,437,124
EBITDA 10-point trend, -605.9% $-17M · $-8M $-13M $3M $7M $4M $-993.4K $-807.7K $-2M · $3M
Balance Sheet 30
Annual Balance Sheet data for GNSS
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 12-point trend, -66.6% $8M $5M $9M $13M $13M $23M $19M $11M $13M $13M $18M $24M
Short-term Investments 11-point trend, -94.4% $70.0K $8M $1M $6M $6M $4M $4M $4M $4M $3M $1M ·
Receivables 12-point trend, +77.3% $8M $3M $6M $7M $8M $5M $4M $3M $6M $3M $2M $4M
Inventory 12-point trend, +126.0% $9M $7M $7M $6M $6M $6M $6M $7M $5M $5M $5M $4M
Prepaid Expense 12-point trend, +1568.5% $9M $2M $2M $4M $2M $860.0K $860.0K $3M $983.3K $595.6K $565.7K $523.9K
Other Current Assets 9-point trend, -78.3% $38.0K $56.0K $66.0K $244.0K $315.0K $288.0K $288.0K $244.6K $175.3K · · ·
Current Assets 12-point trend, +20.6% $39M $26M $25M $36M $35M $40M $34M $28M $29M $25M $27M $33M
PP&E (Net) 12-point trend, +212.4% $1M $1M $2M $2M $2M $2M $2M $2M $509.6K $473.3K $472.0K $360.1K
PP&E (Gross) 12-point trend, +231.5% $6M $6M $5M $5M $5M $4M $5M $4M $2M $2M $2M $2M
Accum. Depreciation 12-point trend, +236.7% $4M $4M $4M $3M $3M $2M $2M $2M $2M $2M $1M $1M
Goodwill 8-point trend, +449.9% $13M $13M $10M $10M $24M $2M $2M $2M · · · ·
Intangibles 12-point trend, +11318.2% $6M $9M $8M $11M $13M $943.0K $1M $2M $55.7K $62.9K $58.4K $53.8K
Total Assets 12-point trend, +89.1% $64M $54M $50M $72M $90M $66M $47M $42M $39M $37M $40M $34M
Accounts Payable 12-point trend, +885.1% $8M $4M $3M $2M $2M $1M $860.0K $3M $1M $574.6K $703.9K $830.5K
Accrued Liabilities 12-point trend, +82.3% $7M $7M $7M $12M $14M $8M $8M $3M $3M $2M $870.6K $4M
Short-term Debt 7-point trend, -100.0% $0 $0 · $0 $296.0K $300.0K $280.0K $296.6K · · · ·
Current Liabilities 12-point trend, +1006.8% $54M $14M $11M $15M $17M $10M $9M $7M $4M $2M $2M $5M
Capital Leases 6-point trend, -65.3% $2M $3M $4M $5M $6M $6M · · · · · ·
Deferred Tax · · · · · $0 · · · · · ·
Other Non-current Liabilities 9-point trend, +249.7% · · $551.0K $907.0K $995.0K $293.0K $2M $2M · $165.0K $148.0K $157.6K
Total Liabilities 12-point trend, +1115.6% $62M $36M $16M $21M $24M $17M $12M $8M $4M $2M $2M $5M
Long-term Debt 5-point trend, -100.0% · · · $0 $296.0K $318.0K $312.5K $349.0K · · · ·
Total Debt 6-point trend, +2689.1% $18M · · $0 $296.0K $618.0K $592.1K $645.7K · · · ·
Common Stock 11-point trend, -100.0% $0 $0 $0 $0 $0 $0 · $332 $322 $318 $329 $332
Paid-in Capital 12-point trend, +44.7% $127M $126M $110M $109M $107M $91M $90M $90M $88M $86M $88M $88M
Retained Earnings 12-point trend, -112.2% $-126M $-108M $-76M $-57M $-41M $-42M $-54M $-57M $-53M $-52M $-50M $-59M
AOCI 11-point trend, +228339.2% $687.0K $-335.0K $-505.0K $-792.0K $2.0K $-250.0K $-459.0K $-245.4K $-1.3K $-1.5K $-301 ·
Stockholders' Equity 12-point trend, -92.5% $2M $18M $34M $50M $50M $49M $35M $33M $35M $35M $38M $29M
Liabilities + Equity 12-point trend, +89.1% $64M $54M $50M $72M $90M $66M $47M $42M $39M $37M $40M $34M
Shares Outstanding 12-point trend, +35.9% 45,161,172 44,631,030 36,611,240 36,611,240 36,403,833 33,561,544 32,949,987 33,176,146 32,158,436 31,800,103 32,898,461 33,236,489
Cash Flow 19
Annual Cash Flow data for GNSS
Metric Trend 202520242023202220212020201920182017201620152014
D&A 12-point trend, +1223.5% $3M $3M $3M $3M $2M $800.0K $825.0K $483.1K $153.3K $167.7K $238.3K $210.0K
Stock-based Comp 12-point trend, +183.9% $2M $2M $2M $2M $1M $980.0K $735.0K $584.9K $1M $605.4K $619.2K $585.8K
Deferred Tax 12-point trend, +100.0% $0 $-525.0K $7M $668.0K $433.0K $-6M $570.0K $2M $196.0K $-188.0K $-8M $-3M
Amort. of Intangibles 12-point trend, +41070.3% $2M $2M $2M $2M $1M $302.0K $304.0K $231.9K $7.2K $6.8K $5.9K $5.7K
Other Non-cash 6-point trend, -278.1% · · $-3M $11M $2M $-1M $5M $2M · · · ·
Operating Cash Flow 12-point trend, -204.3% $-9M $-19M $-10M $468.0K $6M $7M $10M $1M $-666.8K $-1M $135.8K $8M
CapEx 12-point trend, -22.0% $255.0K $191.0K $239.0K $381.0K $208.0K $140.0K $343.0K $625.8K $182.3K $162.3K $344.3K $327.0K
Investing Cash Flow 11-point trend, +2411.6% $8M $-9M $6M $-89.0K $-16M $-3M $-610.0K $-3M $-129.1K $-999.4K · $-341.8K
Debt Issued 2-point trend, +4000000.00 $4M $0 · · · · · · · · · ·
Net Debt Issued 3-point trend, +21152.6% $4M · · $-277.0K $-19.0K · · · · · · ·
Stock Issued 3-point trend, +0.00 $0 $10M $0 · · · · · · · · ·
Stock Repurchased 9-point trend, -100.0% · · $0 $998.0K $0 $398.0K $2M $725.4K · $2M $2M $516.4K
Net Stock Activity 9-point trend, +100.0% $0 · $0 $-998.0K $0 $-398.0K $-2M $-725.4K · $-2M · $-516.4K
Dividends Paid 4-point trend, -100.0% · · · · · · $0 $0 $0 $954.6K · ·
Financing Cash Flow 11-point trend, +14023.5% $4M $24M $-114.0K $-1M $13.0K $679.0K $-1M $596.9K $133.0K $-3M · $28.5K
Net Change in Cash 12-point trend, -59.7% $3M $-4M $-4M $-869.0K $-9M $4M $8M $-997.8K $-662.8K $-5M $-6M $8M
Taxes Paid 3-point trend, +235000.00 $235.0K $52.0K $0 · · · · · · · · ·
Free Cash Flow 10-point trend, -211.7% $-9M · $-10M $87.0K $6M $7M $10M $626.0K $-849.1K $-1M · $8M
Levered FCF · · · · · · · $568.7K · · · ·
Profitability 8
Annual Profitability data for GNSS
Metric Trend 202520242023202220212020201920182017201620152014
Gross Margin 10-point trend, -25.7% 41.6% · 46.6% 48.8% 49.8% 52.6% 49.9% 48.4% 50.6% 46.9% · 56.0%
Operating Margin 10-point trend, -405.3% -41.2% · -23.5% -28.7% 2.3% 14.1% 8.5% -5.6% -4.0% -9.7% · 13.5%
Net Margin 10-point trend, -428.5% -44.4% · -39.4% -30.0% 1.5% 27.6% 7.5% -14.2% -4.3% -7.8% · 13.5%
Pretax Margin 10-point trend, -424.6% -44.1% · -23.6% -28.6% 2.4% 14.3% 9.1% -5.2% -3.3% -9.0% · 13.6%
EBITDA Margin 10-point trend, -405.3% -41.2% · -18.1% -24.0% 5.7% 15.9% 10.7% -3.8% -4.0% -9.7% · 13.5%
ROA 10-point trend, -383.4% -30.8% · -30.2% -20.0% 0.90% 20.0% 6.3% -9.3% -2.3% -3.4% · 10.8%
ROE 10-point trend, -2946.1% -354.3% · -47.5% -28.4% 1.1% 26.9% 7.9% -11.0% -2.5% -3.5% · 12.4%
ROIC 10-point trend, -828.0% -83.9% · -54.4% -32.3% 1.0% 23.4% 7.2% -11.8% -3.0% -4.0% · 11.5%
Liquidity & Solvency 5
Annual Liquidity & Solvency data for GNSS
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 10-point trend, -89.1% 0.7 · 2.2 2.3 2.0 2.9 3.7 4.2 7.9 12.1 · 6.6
Quick Ratio 10-point trend, -95.0% 0.3 · 1.4 1.7 1.5 2.1 2.8 2.7 6.2 9.5 · 5.7
Debt / Equity 6-point trend, +42962.2% 8.3 · · 0.0 0.0 0.0 0.0 0.0 · · · ·
LT Debt / Equity 3-point trend, -75.0% · · · · · 0.0 0.0 0.0 · · · ·
Interest Coverage · · · · · · · -70.5 · · · ·
Efficiency 3
Annual Efficiency data for GNSS
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 10-point trend, -13.7% 0.7 · 0.8 0.7 0.6 0.7 0.8 0.7 0.5 0.4 · 0.8
Inventory Turnover 10-point trend, +15.7% 3.0 · 4.0 4.5 3.8 3.5 2.9 2.3 2.0 1.8 · 2.6
Receivables Turnover 10-point trend, +40.8% 7.5 · 7.4 7.5 7.2 9.5 11.5 6.2 4.5 5.9 · 5.3
Per Share 6
Annual Per Share data for GNSS
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share 10-point trend, -94.4% $0.05 · $0.91 $1.38 $1.81 $1.46 $1.07 $1.01 $1.09 $1.09 · $0.86
Revenue / Share 8-point trend, +23.0% $0.90 · $1.26 $1.48 $1.32 $1.26 $1.11 · · $0.51 · $0.74
Cash Flow / Share 8-point trend, -177.4% $-0.19 · $-0.26 $0.01 $0.17 $0.20 $0.30 · · $-0.04 · $0.25
Cash / Share 10-point trend, -75.4% $0.18 · $0.23 $0.35 $0.36 $0.69 $0.57 $0.33 $0.40 $0.42 · $0.72
Dividend / Share 4-point trend, -100.0% $0 $0 $0 · · · · · · $0 · ·
EPS (TTM) 12-point trend, -500.0% $-0.40 $-0.72 $-0.50 $-0.44 $0.02 $0.35 $0.08 $-0.12 $-0.03 $-0.04 $0.29 $0.10
Growth Rates 5
Annual Growth Rates data for GNSS
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, +651.7% 69.8% -48.5% -13.6% 15.0% 9.3% · · · · · · ·
Revenue CAGR 3Y 3-point trend, -426.2% -9.0% -20.1% 2.8% · · · · · · · · ·
Revenue CAGR 5Y -1.1% · · · · · · · · · · ·
EPS YoY · · · · -94.3% · · · · · · ·
Net Income YoY · · · · -94.1% · · · · · · ·
Valuation (TTM) 17
Annual Valuation (TTM) data for GNSS
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +65.7% $41M $24M $47M $54M $47M $43M $37M $26M $20M $16M $17M $25M
Net Income TTM 12-point trend, -644.4% $-18M $-32M $-18M $-16M $704.0K $12M $3M $-4M $-876.8K $-1M $10M $3M
Market Cap 10-point trend, +22.8% $111M · $75M $101M $189M $206M $110M $102M $68M $59M · $90M
Enterprise Value 6-point trend, +37.8% $121M · · $82M $170M $179M $88M $88M · · · ·
P/E 12-point trend, -122.6% -6.1 -4.9 -4.0 -6.3 259.0 17.6 41.9 -25.5 -71.0 -46.8 5.8 27.1
P/S 10-point trend, -25.9% 2.7 · 1.6 1.9 4.0 4.8 3.0 3.9 3.4 3.6 · 3.7
P/B 10-point trend, +1527.1% 51.1 · 2.2 2.0 2.9 4.2 3.1 3.0 1.9 1.7 · 3.1
P / Tangible Book 4-point trend, +9.7% · · 5.0 3.4 13.7 4.5 · · · · · ·
P / Cash Flow 10-point trend, -217.8% -12.6 · -7.8 216.7 30.7 29.8 11.2 81.1 -102.7 -51.8 · 10.7
P / FCF 10-point trend, -210.0% -12.3 · -7.6 1165.7 31.7 30.5 11.6 162.2 -80.7 -45.3 · 11.2
EV / EBITDA 6-point trend, +91.9% -7.2 · · -6.3 63.4 26.2 22.3 -88.1 · · · ·
EV / FCF 6-point trend, -109.6% -13.4 · · 945.7 28.6 26.5 9.3 139.8 · · · ·
EV / Revenue 6-point trend, -11.0% 3.0 · · 1.5 3.6 4.2 2.4 3.3 · · · ·
Dividend Yield 4-point trend, -100.0% · · · · · · 0.00% 0.00% 0.00% 1.6% · ·
Earnings Yield 12-point trend, -542.5% -16.3% -20.2% -24.9% -15.9% 0.39% 5.7% 2.4% -3.9% -1.4% -2.1% 17.4% 3.7%
Payout Ratio 4-point trend, +100.0% · · · · · · 0.00% 0.00% 0.00% -74.5% · ·
Annual Payout 4-point trend, -100.0% · · · · · · $0 $0 $0 $954.6K · ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-09-302024-09-302023-09-302022-09-302021-09-30
Revenue $41M$24M$47M$54M$47M
Gross Margin % 41.6%46.6%48.8%49.8%
Operating Margin % -41.2%-23.5%-28.7%2.3%
Net Income $-18M$-32M$-18M$-16M$704.0K
Diluted EPS $-0.40$-0.72$-0.50$-0.44$0.02
Balance Sheet
2025-09-302024-09-302023-09-302022-09-302021-09-30
Debt / Equity 8.30.00.0
Current Ratio 0.72.22.32.0
Quick Ratio 0.31.41.71.5
Cash Flow
2025-09-302024-09-302023-09-302022-09-302021-09-30
Free Cash Flow $-9M$-10M$87.0K$6M

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Institutional owners (13F) 47 filers · $40.3M total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
5 (-3 vs prior Q) 10 (+4 vs prior Q) 13 (+1 vs prior Q) 14 (+1 vs prior Q) -4.0M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
INTEGRITY WEALTH ADVISORS, INC. $11,806,720 6,487,209 29.26% Shares
AWM Investment Company, Inc. $9,604,225 5,649,544 23.80% Shares
VANGUARD CAPITAL MANAGEMENT LLC $3,096,168 1,821,275 7.67% Shares
Pacific Ridge Capital Partners, LLC $2,449,566 1,440,921 6.07% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $2,119,550 1,246,794 5.25% Shares
AlphaCore Capital LLC $1,782,731 1,048,665 4.42% Shares
Manatuck Hill Partners, LLC $1,700,000 1,000,000 4.21% Shares
Fi3 FINANCIAL ADVISORS, LLC $969,704 825 2.40% Shares
Sequoia Financial Advisors, LLC $939,131 552,430 2.33% Shares
GEODE CAPITAL MANAGEMENT, LLC $690,500 405,869 1.71% Shares
VANGUARD GROUP INC $586,346 273,355 1.45% Shares
CITADEL ADVISORS LLC $544,530 320,312 1.35% Shares
Prospera Financial Services Inc $513,655 302,150 1.27% Shares
Evernest Financial Advisors, LLC $493,587 290,345 1.22% Shares
VANGUARD FIDUCIARY TRUST CO $467,811 275,183 1.16% Shares
Cutter & CO Brokerage, Inc. $450,368 198,400 1.12% Shares
BOKF, NA $311,270 183,100 0.77% Shares
STATE STREET CORP $270,587 159,169 0.67% Shares
Aristides Capital LLC $216,672 127,454 0.54% Shares
RENAISSANCE TECHNOLOGIES LLC $186,891 109,936 0.46% Shares
NORTHERN TRUST CORP $170,964 100,567 0.42% Shares
GOLDMAN SACHS GROUP INC $165,084 97,108 0.41% Shares
ESSEX INVESTMENT MANAGEMENT CO LLC $123,609 72,711 0.31% Shares
Peterson Wealth Advisors, LLC $121,081 71,224 0.30% Shares
Integrated Wealth Concepts LLC $69,399 40,823 0.17% Shares
UBS Group AG $60,374 35,514 0.15% Shares
XTX Topco Ltd $55,729 32,782 0.14% Shares
CAPITAL ADVISORS INC/OK $51,904 30,532 0.13% Shares
Qube Research & Technologies Ltd $40,909 24,064 0.10% Shares
Creative Planning $37,050 21,794 0.09% Shares
LPL Financial LLC $36,185 21,285 0.09% Shares
Vanguard Global Advisers, LLC $36,115 21,244 0.09% Shares
TWO SIGMA SECURITIES, LLC $28,116 16,539 0.07% Shares
CITADEL ADVISORS LLC $22,100 13,000 0.05% Call option
MTM Investment Management, LLC $21,653 12,737 0.05% Shares
Cetera Investment Advisers $19,550 11,500 0.05% Shares
Jaffetilchin Investment Partners, LLC $18,473 10,150 0.05% Shares
CAPTRUST FINANCIAL ADVISORS $17,000 10,000 0.04% Shares
RAYMOND JAMES FINANCIAL INC $17,000 10,000 0.04% Shares
BlackRock, Inc. $16,133 9,490 0.04% Shares
MORGAN STANLEY $13,005 7,650 0.03% Shares
FNY Investment Advisers, LLC $1,947 1,145,726 0.00% Shares
OSAIC HOLDINGS, INC. $1,870 1,100 0.00% Shares
Smartleaf Asset Management LLC $1,770 1,000 0.00% Shares
BARCLAYS PLC $529 311 0.00% Shares
Caitong International Asset Management Co., Ltd $20 12 0.00% Shares
ROYAL BANK OF CANADA $0 280 0.00% Shares

Company insiders 38 insiders · 15 officers · 18 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
James M Irish CEO Sept. 19, 2003 S 0 0 $0
Dennis D Klahn CFO/Secretary Feb. 14, 2025 F 72,389 0 0 $0
Katherine H Mcdermott Chief Financial Officer May 21, 2012 P 17,800 0 0 $0
Steven Dale Stringer Chief Financial Officer April 3, 2006 A 0 0 $0
John R Zavoli President and COO Nov. 1, 2005 A 0 0 $0
Kalani Jones President & COO Jan. 27, 2005 A 0 0 $0
Norman Carmichael Vice President, Operations Dec. 8, 2008 A 0 0 $0
Karen Jordan Chief Accounting Officer Feb. 16, 2007 A 0 0 $0
James Croft III Chief Technology Officer Feb. 16, 2007 A 4,050 0 0 $0
Charles Peacock VP, Gov't and Military Sales July 5, 2006 A 0 0 $0
James T Taylor III Vice Pres, General Counsel April 17, 2006 A 0 0 $0
David A Carnevale Vice President, Marketing Jan. 23, 2006 A 0 0 $0
Rose Tomich-Litz Vice President, Operations Dec. 9, 2005 A 0 0 $0
Bruce Allen Gray Vice President Business Group March 22, 2005 A 0 0 $0
Joseph Allen Zerucha Vice President Sales & Mkting May 20, 2004 A 0 0 $0
Lawrence F Hagenbuch Director March 26, 2026 A 48,498 0 0 $0
William H Dodd Director March 17, 2026 A 176,783 2 0 $50,404
Susan Lee Schmeiser Director March 17, 2026 A 193,256 0 0 $0
William Craig Fugate Director March 17, 2026 A 115,821 0 0 $0
Rimmy R. Malhotra Director March 17, 2026 A 196,285 0 0 $0
Richard Hoe Osgood III Director Oct. 1, 2025 A 552,430 0 0 $0
Mark Culhane Director Oct. 1, 2025 A 114,547 0 0 $0
George William Vandeweghe Jr Director Aug. 20, 2012 A 0 0 $0
Thomas R Brown Director May 16, 2012 P 37,400 0 0 $0
Helen C. Adams Director May 10, 2012 A 0 0 $0
Laura Clague Director May 10, 2012 A 2,000 0 0 $0
Raymond C Smith Director May 10, 2012 A 0 0 $0
Daniel Hunter Director March 10, 2010 M 191,500 0 0 $0
David J Carter Director March 10, 2006 S 8,695 0 0 $0
Richard Wagner Director Feb. 16, 2006 M 109,100 0 0 $0
MARXE AUSTIN W & GREENHOUSE DAVID M 10% owner June 7, 2013 P 4,667,710 0 0 $0
LRAD Corp 10% owner Sept. 27, 2010 J 0 0 0 $0
Cassandra L Hernandez-Monteon May 14, 2026 D 76,039 0 0 $0
Richard Danforth May 14, 2026 D 394,692 0 0 $0
NORRIS ELWOOD G March 31, 2011 S 2,370,624 0 0 $0
Carl Gruenler Nov. 16, 2004 A 1,500 0 0 $0
Michael Allan Russell June 30, 2004 A 0 0 $0
Bruce Ehlers May 20, 2004 A 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 3 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Iroquois Capital Management, LLC, Iroquois Master Fund Ltd., Joshua Silverman, Richard Abbe, American Capital Management, LLC, Talia Abbe Irrevocable Trust, Bennett Abbe Irrevocable Trust, Samantha Abbe Irrevocable Trust, The Merav Abbe Irrevocable Trust, Scott L. Anchin, Daniel H. McCollum ×3 filings March 15, 2016 Initial filing SEC
Thomas R. Brown Jan. 27, 2016 Initial filing SEC
IROQUOIS CAPITAL MANAGEMENT LLC, JOSHUA SILVERMAN, RICHARD ABBE ×4 filings June 13, 2013 Initial filing SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 3 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
IWC · iShares Trust 0.02% 143,066 SH Aug. 8, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.00% 489,727 SH Aug. 8, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 1,303,758 SH Aug. 8, 2026 Daily