Welcome to our dedicated page for SoundThinking news (Ticker: SSTI), a resource for investors and traders seeking the latest updates and insights on SoundThinking stock.
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.
Nautilus, Inc. (NYSE:NLS) has appointed Ruby Sharma to its Board of Directors, effective May 18, 2022. With over 30 years of experience in business transformation and investor relations, Sharma's expertise is expected to enhance the company's strategic direction. Her role comes as the company advances its long-term goals in the connected home fitness industry. The announcement also includes the retirement of long-time board members Richard Horn and Marvin Siegert at the upcoming shareholders' meeting on August 2, 2022.
ShotSpotter, Inc. (NASDAQ: SSTI) announced a strong first quarter for 2022, with revenues soaring 41% year-over-year to a record $21.2 million. Gross profit increased by 46% to $12.7 million, improving margins. The company reported GAAP net income of $387,000 and a 35% rise in Adjusted EBITDA to $4.5 million. Reiterating its full-year revenue guidance of $81 million to $83 million, SSTI also raised its Adjusted EBITDA margin outlook to 19% to 21%. Notably, the company completed the acquisition of Forensic Logic and expanded its service offerings in several cities.
Thomas Chittum, Esq. has been appointed Vice President of Analytics and Forensic Services at ShotSpotter (NASDAQ: SSTI), effective June 1, 2022. Previously serving as Associate Deputy Director at the ATF for over 20 years, Chittum brings extensive experience in investigating gun crime and promoting crime gun intelligence tools. His new role will focus on enhancing ShotSpotter's forensic services and supporting law enforcement partners in analyzing gun violence data. Chittum expresses enthusiasm about leveraging ShotSpotter’s technology for improving public safety.
ShotSpotter, Inc. (Nasdaq: SSTI) has released a significant upgrade to its ShotSpotter Connect patrol management software, introducing new analytical tools aimed at enhancing crime prevention efforts. This upgrade includes advanced reporting features, interactive data visualizations, and a streamlined interface, allowing law enforcement to better assess patrol effectiveness. Key features include a new Crime & Dosage report, custom data layers, and heatmaps to visualize patrol activity. The enhancements are designed to improve resource allocation and community engagement without increasing policing pressure.
ShotSpotter, Inc. (NASDAQ: SSTI) will host a conference call on May 10, 2022, at 4:30 p.m. ET to discuss its Q1 2022 financial results. The call will include a presentation followed by a Q&A session. Interested parties can dial in using U.S. number 1-844-826-3033 or international number 1-412-317-5185. A live audio webcast will be available simultaneously and can be accessed via the company's website. A replay will be available post-call until June 10, 2022.
ShotSpotter is known for its precision policing technology used by over 200 cities.
ShotSpotter (Nasdaq: SSTI) announced that the Associated Press has corrected a previous false report from VICE Media regarding its gunshot detection technology. The AP retracted claims that ShotSpotter altered gunfire coordinates in a 2014 case involving Chicago’s Michael Williams. Other media entities, including the Daily Mail and The Register, also retracted similar claims. ShotSpotter emphasized the integrity of its forensic evidence and expressed concern over the impact of misinformation on its reputation and trust built over 25 years.
ShotSpotter, Inc. (SSTI) reported a 10% revenue increase for Q4 2021, reaching $14.0 million, and has raised its full-year 2022 revenue guidance to $81 million to $83 million, indicating a 41% growth at the midpoint compared to 2021. Despite this growth, the company reported a GAAP net loss of $3.3 million for Q4 2021, compared to a lesser loss of $220,000 in Q4 2020. The full year 2021 also showed a GAAP net loss of $4.4 million, down from a $1.2 million profit in 2020. The company’s revenue retention rate improved to 125%.
ShotSpotter, Inc. (NASDAQ: SSTI) will host a conference call on February 22, 2022, at 4:30 p.m. ET to discuss its fourth quarter and full-year financial results for 2021. The results will be released prior to the call. Interested participants can join the call by dialing in at the provided numbers, and a live audio webcast will be available. Following the presentation, there will be a question-and-answer session. A replay of the call will be accessible after the event through March 22, 2022.
ShotSpotter, Inc. (NASDAQ: SSTI) will participate in the 24th Annual Needham Virtual Growth Conference from January 10-14, 2022. The company's management is set to present on January 13 at 2:45 p.m. Eastern time, and the presentation will be available for replay. ShotSpotter specializes in precision policing technology, helping law enforcement improve crime response and investigation. Its products are used by over 120 U.S. cities, including ShotSpotter Respond™, Connect™, and Investigate™.
FAQ
What is the current stock price of SoundThinking (SSTI)?
What is the market cap of SoundThinking (SSTI)?
What does SoundThinking, Inc. do?
What is the SafetySmart™ platform?
What is ShotSpotter®?
Where has SoundThinking recently deployed its technology?
How many customers does SoundThinking serve?
When will SoundThinking discuss its fourth-quarter and full-year 2023 financial results?
What is the significance of the SafetySmart™ platform?
Who are the key contacts for SoundThinking?
What are some recent financial highlights for SoundThinking?
Where can I find more information about SoundThinking?
