Genasys Inc. $(GNSS)$, a leader in Protective Communications, has announced its fiscal third-quarter results for the period ending June 30, 2025. The company reported a continuation of soft software bookings, impacted by increased scrutiny and uncertainty affecting customers from local to federal agencies. However, the software pipeline is expanding, and deal conversions are expected to improve as access to federal funds normalizes. In the third fiscal quarter, Genasys recorded $4.3 million in project-related revenue from the Puerto Rico EWS project, with very little profit margin. Cumulatively, the company has recognized $5.6 million of revenue with less than 30% gross margins. As project installations progress, revenue and profit growth are anticipated to accelerate, with expectations to realize between $15 million and $20 million in Puerto Rico-related revenue in fiscal 2025. Genasys has also implemented cost-reduction measures in its software business, projected to deliver approximately $2.5 million in annualized savings starting from the first fiscal quarter of 2026. The company continues to focus on its core operating performance, using adjusted EBITDA as a metric to evaluate trends and make strategic decisions.