Question · Q4 2025
Jarrod Cohen inquired about the types of new projects in the pipeline, specifically if they are similar to the Puerto Rico dam project, and sought clarity on the company's revenue growth expectations for fiscal year 2026. He also asked if the company anticipates being profitable on both an operating and net income basis in FY26, and when the software business might reach a cash flow break-even point.
Answer
CEO Richard Danforth confirmed that new pipeline projects are very similar to Puerto Rico, involving large numbers of basins prone to flooding. He stated the company expects to be profitable on both an operating and net income basis in FY26, pointing to a $60 million addressable backlog for the fiscal year. Regarding the software business, Richard Danforth indicated it would not reach cash flow break-even in the current fiscal year but might by the end of the following fiscal year, citing a 100%+ pipeline growth and high expectations for SaaS bookings and ARR in FY26 due to improving grant funding.
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