SoundThinking Announces ShotSpotter Renewal with New York Police Department
SoundThinking (Nasdaq: SSTI) announced a multi-year renewal of its partnership with the New York Police Department (NYPD) for its ShotSpotter acoustic gunshot detection service. The contract renewal is valued at $21.8 million.
ShotSpotter has been deployed in New York City since 2015, helping to address unreported gunfire incidents, which can exceed 80% of total instances. The system maintains high accuracy rates, achieving 94% in 2024, exceeding the contractually required 90%. The technology has contributed to reduced response times, improved evidence collection, and enhanced community trust.
The three-year extension reinforces the successful partnership between SoundThinking and NYPD in their efforts to combat gun violence and protect New York City communities.
SoundThinking (Nasdaq: SSTI) ha annunciato il rinnovo della sua partnership pluriennale con il Dipartimento di Polizia di New York (NYPD) per il servizio di rilevamento acustico degli spari ShotSpotter. Il rinnovo del contratto ha un valore di 21,8 milioni di dollari.
ShotSpotter è stato implementato a New York City dal 2015, aiutando a affrontare gli incidenti di spari non segnalati, che possono superare l'80% del totale. Il sistema mantiene tassi di precisione elevati, raggiungendo il 94% nel 2024, superando il 90% richiesto contrattualmente. La tecnologia ha contribuito a ridurre i tempi di risposta, migliorare la raccolta di prove e rafforzare la fiducia della comunità.
Questa estensione di tre anni rafforza la partnership di successo tra SoundThinking e NYPD nei loro sforzi per combattere la violenza armata e proteggere le comunità di New York City.
SoundThinking (Nasdaq: SSTI) anunció la renovación por varios años de su asociación con el Departamento de Policía de Nueva York (NYPD) para el servicio de detección acústica de disparos ShotSpotter. La renovación del contrato está valorada en 21,8 millones de dólares.
ShotSpotter se ha implementado en la ciudad de Nueva York desde 2015, ayudando a abordar los incidentes de disparos no reportados, que pueden superar el 80% del total. El sistema mantiene altas tasas de precisión, alcanzando el 94% en 2024, superando el 90% requerido por contrato. La tecnología ha contribuido a reducir los tiempos de respuesta, mejorar la recopilación de pruebas y aumentar la confianza de la comunidad.
Esta extensión de tres años refuerza la exitosa asociación entre SoundThinking y el NYPD en sus esfuerzos por combatir la violencia armada y proteger a las comunidades de la ciudad de Nueva York.
사운드씽킹(SoundThinking, Nasdaq: SSTI)은 뉴욕 경찰청(NYPD)과의 ShotSpotter 총격 탐지 서비스 파트너십을 다년간 갱신한다고 발표했습니다. 계약 갱신 금액은 2180만 달러입니다.
ShotSpotter는 2015년부터 뉴욕시에서 운영되고 있으며, 총 사건의 80%를 초과할 수 있는 보고되지 않은 총격 사건을 해결하는 데 도움을 주고 있습니다. 이 시스템은 2024년 94%의 높은 정확도를 유지하며, 계약상 요구되는 90%를 초과했습니다. 이 기술은 응답 시간을 줄이고, 증거 수집을 개선하며, 지역 사회의 신뢰를 강화하는 데 기여했습니다.
3년의 연장은 사운드씽킹과 NYPD 간의 성공적인 파트너십을 강화하여 총기 폭력을 퇴치하고 뉴욕시 지역 사회를 보호하기 위한 노력에 기여하고 있습니다.
SoundThinking (Nasdaq: SSTI) a annoncé le renouvellement de son partenariat pluriannuel avec le Département de police de New York (NYPD) pour son service de détection acoustique de coups de feu ShotSpotter. Le renouvellement du contrat est évalué à 21,8 millions de dollars.
ShotSpotter est déployé à New York depuis 2015, aidant à traiter les incidents de coups de feu non signalés, qui peuvent dépasser 80 % du total. Le système maintient des taux de précision élevés, atteignant 94 % en 2024, dépassant les 90 % requis par contrat. La technologie a contribué à réduire les temps de réponse, à améliorer la collecte de preuves et à renforcer la confiance de la communauté.
Cette extension de trois ans renforce le partenariat réussi entre SoundThinking et le NYPD dans leurs efforts pour lutter contre la violence armée et protéger les communautés de New York.
SoundThinking (Nasdaq: SSTI) gab bekannt, dass die Partnerschaft mit dem New Yorker Polizeidepartement (NYPD) für den ShotSpotter akustischen Schussdetektionsdienst um mehrere Jahre verlängert wird. Die Vertragsverlängerung hat einen Wert von 21,8 Millionen Dollar.
ShotSpotter ist seit 2015 in New York City im Einsatz und hilft dabei, nicht gemeldete Schusswaffenvorfälle zu bearbeiten, die über 80 % der Gesamtvorfälle ausmachen können. Das System weist hohe Genauigkeitsraten auf und erreicht im Jahr 2024 94 %, was die vertraglich geforderten 90 % übertrifft. Die Technologie hat zur Reduzierung der Reaktionszeiten, zur Verbesserung der Beweissammlung und zur Stärkung des Vertrauens der Gemeinschaft beigetragen.
Die dreijährige Verlängerung festigt die erfolgreiche Partnerschaft zwischen SoundThinking und NYPD in ihren Bemühungen, die Waffengewalt zu bekämpfen und die Gemeinschaften von New York City zu schützen.
- Secured $21.8 million multi-year contract renewal with NYPD
- Demonstrated strong performance with 94% accuracy rate in 2024, exceeding 90% requirement
- Maintains long-term partnership since 2015 with major law enforcement agency
- None.
Insights
The $21.8 million contract renewal with NYPD represents approximately 12.8% of SoundThinking's current market capitalization, making this a substantial win for the company. The three-year extension provides essential revenue visibility and strengthens the company's recurring revenue base, a important metric for SaaS investors.
The renewal carries strategic significance beyond its monetary value. SoundThinking's 94% accuracy rate, exceeding the contractual requirement of 90%, demonstrates superior technology performance and creates a formidable barrier to entry for competitors. The nearly decade-long relationship with NYPD has resulted in significant switching costs, as the department has integrated ShotSpotter into its operations and built institutional knowledge around the system.
From a market perspective, the 80% unreported gunfire statistic reveals a persistent need for gunshot detection technology, suggesting a stable, long-term market opportunity. The NYPD renewal serves as a powerful reference case for other major metropolitan areas, potentially catalyzing additional contract wins or renewals. This is particularly relevant as cities globally focus on modernizing their law enforcement technology infrastructure.
The contract's structure as a multi-year agreement contributes to predictable cash flows and reduces customer churn risk. For investors, this translates to improved revenue quality and potentially lower cost of capital, as the company demonstrates its ability to maintain and expand relationships with flagship customers.
Summary: SoundThinking, Inc. today announced a multi-year renewal of its partnership with the New York Police Department for the deployment of ShotSpotter, the industry-leading acoustic gunshot detection system.
FREMONT, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology provider, today announced that the New York Police Department (NYPD) renewed its ShotSpotter acoustic gunshot detection service. The multi-year contract renewal is valued at approximately
Since it was first deployed in New York City in 2015, ShotSpotter has been an effective, accurate, and unbiased tool utilized by the NYPD to fill the gap in the amount of gunfire that goes unreported to 911, which can exceed
“SoundThinking has partnered with NYPD for nearly ten years, and this three-year extension demonstrates our continued shared commitment to that partnership,” added Ralph Clark, President and CEO of SoundThinking. “We are grateful to know that our technology is seen as making a real difference in NYPD’s gun violence response strategy to have officers rapidly pinpoint and respond to gunfire, ultimately helping to save lives and better protect New York City communities.”
About SoundThinking
SoundThinking, Inc. (Nasdaq: SSTI) is a leading public safety technology company that delivers AI- and data-driven solutions for law enforcement, civic leadership, and security professionals. SoundThinking is trusted by more than 300 customers and has worked with approximately 2,100 agencies to drive more efficient, effective, and equitable public safety outcomes. The company’s SafetySmart™ platform includes ShotSpotter®, the leading acoustic gunshot detection system; CrimeTracer™, the leading law enforcement search engine; CaseBuilder™, a one-stop investigation management system; ResourceRouter™, software that directs patrol and community anti-violence resources to help maximize their impact; SafePointe®, an AI-based weapons detection system; and PlateRanger powered by Rekor, a leading ALPR solution. SoundThinking has been designated a Great Place to Work® Company.
Company Contact:
Jerome Filip, PR Manager
SoundThinking, Inc.
+1 (510) 203-0934
jfilip@soundthinking.com
Investor Relations Contact:
Ankit Hira
Solebury Strategic Communications for SoundThinking, Inc.
+1 (203) 546-0444
ahira@soleburystrat.com
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