SoundThinking Signs Over $8 Million in New & Expansion Contracts for ShotSpotter and SafetySmart Tools

Rhea-AI Summary

SoundThinking, Inc. (Nasdaq: SSTI), a key player in public safety technology, has announced over $8 million in new contracts and expansions for its ShotSpotter gunshot detection system. These contracts include a $4.7 million multi-year re-deployment in Suffolk County, NY, which will extend ShotSpotter coverage to 22 square miles—almost three times the original area. Additional contracts include a $910,000 contract in Erie, PA, a $434,000 deal in Montgomery County, PA, and a $2.1 million expansion in Cleveland, OH. This expansion follows a significant $7 million Detroit deployment, which has now gone live, bringing the total coverage to 37 miles in Detroit. These initiatives aim to enhance public safety and reduce police response times.

Positive

• Over $8 million in new contracts and contract expansions announced.
• Suffolk County re-deployment increases ShotSpotter coverage to 22 square miles.
• Erie, PA, and Montgomery County, PA, secured new contracts expanding ShotSpotter services.
• Cleveland, OH, sees a $2.1 million ShotSpotter coverage expansion.
• Detroit's $7 million deployment has gone live, with significant coverage increase.

Negative

• None.

Summary: Leading provider of public safety technologies SoundThinking, Inc. today announced more than $8 million in new contracts and expansions for the deployment of ShotSpotter, the nation’s leading acoustic gunshot detection technology, as well as other investigative tools from the company’s SafetySmart platform. These contracts include new technology deployments in Suffolk County, NY, Erie, PA and Montgomery County, PA, along with the expansion of coverage areas in Cleveland, OH.

FREMONT, Calif., April 25, 2023 (GLOBE NEWSWIRE) -- SoundThinking, Inc., (Nasdaq: SSTI) (formerly ShotSpotter, Inc.), a leading public safety technology company that combines data-driven solutions and strategic advisory services for law enforcement and community assistance groups, today announced more than $8 million in new contracts and contract expansions. The largest of the new customer contracts is a $4.7 million multi-year re-deployment of ShotSpotter - SoundThinking’s flagship acoustic gunshot detection system - in Suffolk County, New York.

Suffolk County’s original ShotSpotter deployment ended in December 2018 after six years of service. Under the new contract, ShotSpotter technology will be deployed across 22 square miles of the county, almost three times the size of the county’s original ShotSpotter deployment. The system is designed to alert law enforcement to virtually all gunfire within the ShotSpotter coverage area within 60 seconds, helping to reduce police response times and save lives.

The re-deployment of ShotSpotter comes on the heels of a 2022 agreement by the Suffolk County District Attorney’s Office to adopt CaseBuilder (formerly Investigate), SoundThinking’s centralized cloud-based investigation management software that helps detectives investigate crimes more efficiently and effectively. CaseBuilder helps crime investigators by organizing and storing case information, tracking and prioritizing assignments, and optimizing resources.

“Bringing back ShotSpotter to Suffolk County was a Day 1 priority as part of a coordinated information-driven approach to stopping gun violence,” said District Attorney Raymond A. Tierney. “This technology will allow police to get to the scene much more quickly following gunfire, which will save lives. Investigators from my office and the SCPD will use ShotSpotter to solve crimes and prevent future shootings. Every time a gun is fired illegally in Suffolk County, we will investigate and find those who threaten the safety of our citizens.”

Additional selected new contracts for SoundThinking also include:

• A new two-year, $910,000 contract with the city of Erie in Northwest Pennsylvania. ShotSpotter will be deployed across a six square mile area of the city after unanimous approval from Erie’s City Council.
• A new two-year, $434,000 contract with Montgomery County, Pennsylvania. The County District Attorney’s Office first adopted CaseBuilder, which led to the agreement to deploy ShotSpotter in Pottstown and Norristown, Pennsylvania.
• A three-year, $2.1 million expansion in Cleveland, Ohio. This new phase covers an additional 10 square miles across the city, representing a four-fold increase in ShotSpotter coverage. Over 33% of the expansion miles have been taken live and are operational.
  

Additionally, the previously-announced 31 square mile, three-year, $7 million expansion in Detroit, representing a five-fold increase of ShotSpotter coverage, has gone live. This makes Detroit, with a total of 37 miles of coverage, SoundThinking’s third largest ShotSpotter deployment behind Chicago and New York City.

SoundThinking’s CEO Ralph Clark added: “We are very excited to announce these new and expanded engagements and Detroit’s go-live with our law enforcement partners in communities across the United States. These communities have made the critical decision to make their neighborhoods safer by equipping law enforcement with cutting-edge technology that enables policing to be more efficient, effective and equitable.”

ShotSpotter and CaseBuilder are part of the SoundThinking SafetySmart platform, bringing together specialized software and objective data to help law enforcement and civic leadership better protect their communities. To learn more about SoundThinking’s full range of public safety solutions, visit www.SoundThinking.com.

About SoundThinking
SoundThinking, Inc. (Nasdaq: SSTI) is a leading public safety technology company that combines transformative solutions and strategic advisory services for law enforcement and civic leadership. We are trusted by more than 250 customers and 2,000 agencies to drive more efficient, effective, and equitable public safety outcomes, making communities healthier. Our SafetySmart™ platform includes ShotSpotter^®, the leading acoustic gunshot detection system, CrimeTracer™, the foremost law enforcement search engine, CaseBuilder™, a one-stop investigation management system, and ResourceRouter™, software that directs patrol and community anti-violence resources to help maximize their impact. SoundThinking has been designated a Great Place to Work^® Company.

Company Contact:
Alan Stewart, CFO
SoundThinking, Inc.
+1 (510) 794-3100
astewart@shotspotter.com

Investor Relations Contact:
Matt Glover
Gateway Group, Inc.
+1 (949) 574-3860
SSTI@gatewayir.com

FAQ

What is the recent contract announcement by SoundThinking, Inc. (SSTI)?

SoundThinking announced over $8 million in new contracts and expansions, including significant deployments of ShotSpotter in several U.S. locations.

How much is the Suffolk County contract worth?

The Suffolk County contract is valued at $4.7 million for a multi-year re-deployment of ShotSpotter.

What are the areas covered by the new SoundThinking contracts?

The new contracts cover areas including Suffolk County, NY, Erie, PA, Montgomery County, PA, and Cleveland, OH.

When did the Detroit expansion for ShotSpotter go live?

The Detroit expansion, valued at $7 million, has recently gone live, increasing coverage to 37 miles.

What is the purpose of SoundThinking's ShotSpotter technology?

ShotSpotter is designed to detect gunfire and alert law enforcement within 60 seconds, helping reduce response times and save lives.