Genasys Inc Shares Dropped 14% Despite Strong Q4 Results
<p><a href='https://financialmodelingprep.com/financial-summary/GNSS'>Genasys Inc. (NASDAQ:GNSS) </a>shares closed more than 14% lower on Tuesday, despite the company’s reported strong Q4 results, with record revenue of $15 million, which represents an 8% year-over-year growth. The revenue came in better than the consensus estimate of $14.23 million. Backlog grew to $36.1 million. Management remains very bullish on its software revenue growth outlook, expecting 50% growth in 2022. </p>
<p>The reason for the sharp decline in the stock price is probably the management’s note on rising prices and growing lead times for its components into 2022, and the company’s plans on passing this price increase to its commercial customers. Given a tightening in the supply chain in Q4, visibility for 2022 sales and bookings are trending lower.</p>

NASDAQ:GNSS