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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.
ShotSpotter, Inc. (NASDAQ: SSTI) has introduced the ShotSpotter SiteSecure™ for Retail program, which enhances outdoor gunfire detection for retail sites amid a 40% spike in violent incidents in 2020. The system alerts security personnel within seconds of gunfire, providing crucial information for a timely response. ShotSpotter data indicates a 42% rise in retail area shootings from 2019 to 2020. The program aims to create a safer shopping environment and integrates seamlessly with existing security technologies. ShotSpotter continues to partner with authorities to promote retail safety.
On March 23, 2021, ShotSpotter, Inc. (NASDAQ: SSTI) announced it will host virtual Investor Days on March 30 and April 1, 2021, from 12:00 p.m. to 2:30 p.m. Pacific Time. The executive management team will present the company's advancements in precision policing technology, aimed at enhancing law enforcement's effectiveness. A live video webcast and slide presentation will be available on the investor relations page of the company's website, with a replay accessible afterward.
ShotSpotter's technologies, used by over 100 U.S. cities, include ShotSpotter Respond™, ShotSpotter Connect™, and the upcoming ShotSpotter Investigate™.
ShotSpotter, Inc. (NASDAQ: SSTI) will participate in the 33rd Annual Roth Conference from March 15-17, 2021. The conference will be held virtually, with recorded presentations available for review. Management is scheduled for one-on-one meetings with institutional investors and analysts during the event. ShotSpotter provides precision policing solutions, helping law enforcement respond to crime effectively, with its flagship products including ShotSpotter Respond™ and ShotSpotter Connect™. For inquiries, contact ShotSpotter's IR team.
ShotSpotter (SSTI) reported a 12% revenue increase to $45.7 million in 2020, with a 16% rise to $12.6 million for Q4. Despite a net loss of $220,000 in Q4, adjusted EBITDA remained stable at $3.1 million. Gross profit rose to $27.0 million (59% of revenues), but margins were impacted by equipment write-offs and rising maintenance costs. The company acquired LEEDS for $15 million, bolstering its service suite. For 2021, SSTI projects revenues of $58-60 million and reaffirms GAAP profitability.
ShotSpotter, Inc. (NASDAQ: SSTI) will hold a conference call on February 25, 2021, at 4:30 p.m. Eastern time to discuss its Q4 and full-year financial results for 2020. The call will follow the release of financial results earlier that day. Participants can join via a U.S. dial-in number or an international dial-in. A replay will be available post-call until March 25, 2021. ShotSpotter is known for its innovative policing solutions, including ShotSpotter Respond™, that support over 100 U.S. cities in crime response and investigation.
ShotSpotter Launches New Program for Outdoor Security
On January 21, 2021, ShotSpotter (Nasdaq: SSTI) announced a program to enhance security at government campuses nationwide. This initiative follows the January 6 Capitol assault, addressing rising threats against public officials and citizens. The SecureCampus program utilizes advanced acoustic gunshot detection technology similar to the established ShotSpotter Respond™ system. Key features include rapid incident verification, customized security solutions, and integration with existing security systems, aimed at effectively mitigating threats and improving public safety.
ShotSpotter, a leader in precision policing solutions, will present at the 23rd Annual Needham Growth Conference from January 11-15, 2021. The presentation is scheduled for January 14 at 4:15 p.m. Eastern time, with one-on-one meetings available on January 13-14. ShotSpotter's innovative products, including ShotSpotter Respond™ and ShotSpotter Connect™, are utilized by over 100 U.S. cities to improve crime response and investigation. The webcast of the presentation will be available for replay.
ShotSpotter, Inc. (Nasdaq: SSTI) reported a 48% increase in gunshot incidents during 2020 compared to 2019, coinciding with social unrest and a pandemic. New Year’s Eve 2021 logged 12,266 gunshot alerts, nearly double the three-year average of 6,803. The Midwest saw the highest increase at 58%, while the South reported a 19% increase. The report underscores growing violence, with over 19,000 homicides in the U.S. in 2020. Company leaders express hope for improved policing strategies to address these issues in the coming year.
ShotSpotter, Inc. (NASDAQ: SSTI) has secured contracts with seven small U.S. cities to implement its ShotSpotter Respond™ gunshot detection technology. This initiative reflects a growing trend among smaller municipalities to adopt advanced crime prevention tools amid rising gun violence. Cities like North Chicago and Kankakee report positive early results, enhancing police response capabilities. ShotSpotter aims to broaden its reach, targeting over 850 potential law enforcement agencies, and emphasizes that addressing gun violence is universally relevant across city sizes.
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