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SoundThinking, Inc. reports developments in public safety technology for law enforcement, civic leadership, and security professionals. The company’s SafetySmart platform includes ShotSpotter acoustic gunshot detection, CrimeTracer crime-data search and investigative lead generation, CaseBuilder investigation management, ResourceRouter resource-deployment software, SafePointe AI-based weapons detection, and PlateRanger powered by Rekor for automatic license plate recognition.
Recurring news includes quarterly and annual financial results, revenue guidance, product upgrades, customer and agency adoption, go-to-market leadership changes, and operational investments supporting SafePointe alert review. Company updates also address investor conference participation and the expansion of AI- and data-driven capabilities across the SafetySmart portfolio.
ShotSpotter, Inc. (SSTI) reported a 29% increase in revenues for Q3 2022, totaling $18.8 million, up from $14.5 million in Q3 2021. GAAP net income reached $4.0 million, contrasting with a net loss of $949,000 a year prior. The company maintained its FY 2022 revenue guidance at $81-$82 million, forecasting 40% growth at the midpoint and introduced FY 2023 revenue guidance of $94-$96 million, indicating 17% growth. Adjusted EBITDA also increased by 37% to $3.1 million.
ShotSpotter, Inc. (NASDAQ: SSTI) announced a conference call scheduled for November 8, 2022, at 4:30 p.m. Eastern time to discuss its third quarter financial results for the period ending September 30, 2022. The call will follow a press release detailing the financial results, with management providing insights and answering questions. A live audio webcast will be accessible, and a replay will be available until December 8, 2022. ShotSpotter is recognized for its public safety technology solutions, serving over 200 customers and 2,500 agencies.
ShotSpotter reported a 37% increase in revenues for Q2 2022, totaling $20.0 million, up from $14.6 million in Q2 2021. The company also achieved a GAAP net income of $3.0 million, translating to $0.24 per diluted share. Adjusted EBITDA rose by 39% to $4.1 million, maintaining a 20% margin. The firm reiterated its full-year revenue guidance of $81-$83 million, indicating a potential 41% growth year-over-year. The operational highlights include new implementations and a digital case management solution, enhancing their service capability.
ShotSpotter, Inc. (Nasdaq: SSTI) announced that VICE Media has corrected misleading claims regarding its gunfire detection technology following a defamation complaint. An Editor’s Note by VICE states that ShotSpotter did not alter evidence in a criminal case, clarifying that it consistently identified the same gunfire location. Although disappointed with the lawsuit dismissal, CEO Ralph A. Clark expressed satisfaction that the public record has been corrected. ShotSpotter aims to refocus on improving public safety amidst rising crime rates.
ShotSpotter (NASDAQ: SSTI) will hold a conference call on August 9, 2022, at 4:30 p.m. ET to discuss its Q2 2022 financial results.
Participants can join via U.S. dial-in at 1-877-326-9228 or international at 1-412-542-4180. The call will be webcast live and available for replay on the company’s investor relations website.
ShotSpotter provides precision policing technology solutions to over 200 customers, improving public safety and law enforcement capabilities.
ShotSpotter, Inc. (Nasdaq: SSTI) has launched ShotSpotter GCM™, an innovative digital case management solution aimed at improving the investigative process for gun crimes. This new tool automates the input of critical information, identifies associated cases, and facilitates collaboration among law enforcement, addressing the challenges posed by staffing shortages and increasing gun violence. The system enhances operational efficiency by streamlining data sharing and analysis, ultimately aiming to solve more gun crime cases and improve closure rates.
ShotSpotter, Inc. (NASDAQ: SSTI) will participate in multiple financial conferences in June 2022. Key events include the William Blair 42nd Annual Growth Stock Conference on June 8, featuring CFO Alan Stewart, and the Stifel 2022 Cross Sector Insight Conference on June 9, presenting CEO Ralph Clark. Additionally, the company will engage in one-on-one meetings at the Roth Virtual London Conference from June 21-23 and participate in the Cantor Fitzgerald Technology ESG Conference on June 28-29. These conferences aim to enhance investor relations and showcase ShotSpotter's advancements in precision policing technology.
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.