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SoundThinking, Inc. (Nasdaq: SSTI) is a leading public safety technology company based in the Bay Area, renowned for its innovative solutions in gunshot detection, location, and forensic analysis. The company is dedicated to providing transformative tools and strategic advisory services to law enforcement agencies and civic leaders worldwide.
SoundThinking's flagship platform, SafetySmart™, is comprised of several key components:
- ShotSpotter®: An industry-leading acoustic gunshot detection system, trusted by over 200 cities globally, that rapidly identifies and locates gunfire incidents to enable swift police response and enhance community safety.
- CrimeTracer™: A cutting-edge law enforcement search engine that provides comprehensive data to assist in criminal investigations.
- CaseBuilder™: An all-in-one investigation management system designed to streamline the process of building and managing cases.
- ResourceRouter™: Software that optimizes the deployment of patrol and community anti-violence resources to maximize efficiency and impact.
- SafePointe®: An AI-driven concealed weapons detection system that enhances public safety in various environments.
Recent Achievements and Deployments
SoundThinking has recently expanded its reach into the Latin American market with the deployment of ShotSpotter in Montevideo, Uruguay. Additionally, the company has secured multiple agreements in the first quarter of 2024, including new deployments and expanded coverage areas in cities such as Hammond, Indiana; Paterson, Camden County, and Newark, New Jersey; Lancaster, California; and New Bern, North Carolina.
Financially, SoundThinking continues to demonstrate robust performance, with its latest financial results for the third quarter of 2023 showcasing significant growth and operational success. The company is set to discuss its fourth-quarter and full-year 2023 financial results in an upcoming conference call on February 27, 2024, followed by an investor day on March 14, 2024, in New York City.
SoundThinking prides itself on being a mission-driven company, committed to reducing gun violence and saving lives through constant innovation. Recognized as a Great Place to Work® company, SoundThinking continues to attract top talent to further its mission of making communities safer worldwide.
For more information about SoundThinking and its suite of public safety technologies, please visit www.SoundThinking.com.
SoundThinking (Nasdaq: SSTI), a public safety technology company, has announced its participation in the 27th Annual Needham Growth Conference. The event will take place at the Lotte New York Palace in New York City on January 14, 2025. Chief Financial Officer Alan Stewart will deliver a presentation at approximately 10:15 a.m. Eastern Time.
Investors can access both live webcast and replay of the presentation through SoundThinking's Investor Relations website. The company's management team will be available for one-on-one and small group meetings with investors. Interested parties can schedule meetings through their Needham representative or by contacting SoundThinking's investor relations team.
SoundThinking (Nasdaq: SSTI) has released its third annual Environmental, Social, and Governance (ESG) Report, showcasing its commitment to public safety technology and community impact. The report highlights four key areas: Public Safety Technology, featuring their SafetySmart™ platform for efficient law enforcement response; Social Impact, through community engagement and their Data for Good program; Governance and Transparency, emphasizing diversity and AI governance; and Environmental Sustainability, focusing on energy-efficient design and ecosystem preservation initiatives.
The report follows SASB framework standards and aligns with UN Sustainable Development Goals, demonstrating the company's dedication to creating positive community safety outcomes while maintaining high standards of transparency and accountability.
SoundThinking reported Q3 2024 financial results with a 10% revenue increase to $26.3 million, driven by new and existing customer growth. Gross profit rose 11% to $15.2 million, while the GAAP net loss improved to $1.4 million from $1.9 million in Q3 2023. The company reaffirmed its FY 2024 revenue guidance of $104.0-$106.0 million and introduced FY 2025 guidance of $107.0-$109.0 million. Adjusted EBITDA for Q3 2024 was $4.5 million. Operational highlights include ShotSpotter going live in four new cities and one university and expanding in eight cities. SafePointe enhancements and a new agreement in Montevideo were noted. The company repurchased 284,790 shares for $4.0 million and reported a cash position of $15 million. CEO Ralph Clark emphasized strong customer relationships and market reach as key growth drivers.
SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, has announced its third quarter 2024 earnings conference call and participation in upcoming investor conferences. The earnings call is scheduled for Tuesday, November 12, 2024, at 4:30 p.m. Eastern time. Financial results will be released prior to the call.
The company will also participate in three investor conferences:
- The ROTH Technology Conference in New York City on November 20, 2024
- The Benchmark Discovery One-on-One Conference in New York City on December 11, 2024
- The Imperial Capital Security Investor Conference in New York City on December 12, 2024
A live audio webcast of the earnings call will be available on the company's website, with a replay accessible until November 26, 2024.
SoundThinking, Inc. (Nasdaq: SSTI) has announced a significant expansion of its ShotSpotter gunshot detection system in Montevideo, Uruguay. The Ministry of Interior for Uruguay has signed a 3-year contract to extend ShotSpotter's coverage by 12 square kilometers, effectively doubling its current footprint in the capital city.
This expansion follows the successful initial deployment of ShotSpotter in Montevideo in December 2023. The system has become a important part of Uruguay's strategy to combat gun violence. As part of this expansion, a localized Spanish-language version of the ShotSpotter InSight application has been introduced, potentially opening doors to other Spanish-speaking markets.
The contract not only highlights Uruguay's satisfaction with the initial deployment but also reflects SoundThinking's growing international presence, particularly in Latin America. This expansion demonstrates the company's commitment to enhancing public safety and saving lives through advanced technology.
SoundThinking, Inc. (Nasdaq: SSTI) has delivered a comprehensive 30-page report to Oakland city officials, highlighting the critical role of ShotSpotter in the city's public safety strategy since 2006. The report, based on data from the Oakland Police Department (OPD) and independent studies, comes as the Oakland City Council's Public Safety Committee prepares to discuss the potential renewal of the ShotSpotter contract.
Key findings include:
- ShotSpotter directed OPD to 386 gunshot victims from 2020 to 2023 who had no corresponding 911 call
- Enhanced faster police response to criminal gunfire incidents
- Supported major crime-fighting initiatives like Operation Ceasefire
- Demonstrated cost-effectiveness with an estimated $3.2 million savings per prevented fatal shooting
- Achieved a 97% accuracy rate, exceeding its 90% contractual commitment
The report addresses criticisms and highlights support from Oakland's business leaders, residents, and city officials for the continued use of ShotSpotter technology.
SoundThinking (Nasdaq: SSTI) has unveiled the next generation of SafePointe, its advanced weapons detection system. This major upgrade features AI-driven software and new hardware components to enhance threat detection in high-traffic areas. Key improvements include:
1. Advanced hardware with a 3D camera and NVIDIA-driven edge processor
2. New AI model with patent-pending technology combining person-motion data and magnetic signature analysis
3. Enhanced enterprise features with comprehensive reporting and monitoring tools
4. Improved user experience with a new mobile app
The company has initiated SOC2 and HIPAA certification processes, expected to complete by early 2025. CEO Ralph Clark emphasized the company's commitment to innovation and meeting complex security needs.
SoundThinking, Inc. (Nasdaq: SSTI) has released a report highlighting the success of its ShotSpotter program in Winston-Salem. The report, based on independent research by the Center for Crime Science and Violence Prevention at Southern Illinois University Edwardsville, demonstrates significant benefits across four key metrics:
1. Lives saved: 27 gunshot victims received medical aid, with at least two lives saved directly due to ShotSpotter.
2. Crime reduced: 24% reduction in aggravated assaults and homicides within ShotSpotter's coverage area.
3. Evidence recovered: 4,400% increase in shell casing recovery.
4. Financial ROI: $8.4 to $8.8 million saved annually, yielding a return of $26 for every $1 invested.
The report also suggests that Winston-Salem's proposed drone program would be most effective when paired with existing ShotSpotter technology.
SoundThinking Inc (Nasdaq: SSTI) has appointed Adan Pope as Senior Vice President of Data and Artificial Intelligence, a newly created role to lead the company's AI and machine learning initiatives across its SafetySmart™ Platform and internal operations. Pope brings over 30 years of technology leadership experience, most recently serving as CTO at Intrado Life and Safety.
This strategic hire aims to accelerate AI-driven innovation in public safety technology, reinforcing SoundThinking's market leadership. Pope will establish a Center of Excellence for AI/ML within the company and oversee the centralization and expansion of AI/ML capabilities. He will also lead the Engineering Organization for CrimeTracer, which manages over 1 billion law enforcement Criminal Justice Information Services Division records.
SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, is set to present at the 2024 Annual Gateway Conference in San Francisco. The company's management team will deliver a presentation on Thursday, September 5th at 10:30 a.m. Pacific Time at the Four Seasons Hotel. This event provides an opportunity for investors and analysts to gain insights into SoundThinking's operations and strategy.
The presentation will be webcast live and available for replay, allowing remote access for interested parties. Additionally, SoundThinking executives will be available for one-on-one meetings throughout the conference, offering a more personalized interaction with potential investors and industry professionals.