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. 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. (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.
Summary not available.
ShotSpotter, a leader in precision policing solutions, announced the launch of ShotSpotter Insight, a new analytics tool designed for law enforcement. This web-based software enables crime analysts and investigators to access a comprehensive database of historical gunshot incidents detected by the ShotSpotter system. It offers features like detailed incident analysis, shot-by-shot animations, and tools for visualizing gun violence trends, aiding agencies in effectively addressing and preventing crime.
ShotSpotter, Inc. (SSTI) has successfully acquired Leeds, LLC, known as CrimeCenter Software, for $17 million in cash and stock, with potential earn-outs of $5 million. This acquisition, announced on November 9, 2020, enhances ShotSpotter’s law enforcement solutions by adding CrimeCenter's investigative case management software. The merger is expected to boost ShotSpotter's U.S. law enforcement market by over 45%. Currently, CrimeCenter software serves over 4,000 users, including the NYPD, and aims to modernize investigations for law enforcement agencies.
ShotSpotter, Inc. (NASDAQ: SSTI) announces participation in various virtual financial conferences throughout November 2020. Key events include the ROTH Capital Technology Virtual Event on November 12 and the Annual Craig-Hallum Alpha Select Conference on November 17, where one-on-one meetings will be held. ShotSpotter specializes in acoustic gunshot detection and aims to enhance public safety by equipping law enforcement with advanced technology. This proactive approach has made ShotSpotter a trusted solution in over 100 cities, contributing to safer communities.
ShotSpotter, Inc. (SSTI) reported a 14% year-over-year revenue increase, reaching $11.4 million for Q3 2020. Gross profit rose 8% to $6.4 million, with a net income of $566,000, a 27% increase compared to the previous year. Adjusted EBITDA escalated by 44% to $3.3 million. The company maintains a robust cash position of $28.7 million and has narrowed its full-year revenue guidance to $44.5 million to $45.0 million, indicating a strong outlook for 2021, with projected revenues of $58.0 million to $60.0 million including LEEDS, LLC acquisition benefits.
ShotSpotter, Inc. (Nasdaq: SSTI) has announced an acquisition of Leeds, LLC, which operates as CrimeCenter Software, for approximately $22 million in cash and stock. The transaction aims to strengthen ShotSpotter’s law enforcement offerings and is expected to expand its total addressable market by over 45% for U.S. law enforcement software. The acquisition, set to close in November 2020, will integrate CrimeCenter’s investigative case management software into ShotSpotter’s existing solutions, enhancing police efficiency and investigative capabilities.
ShotSpotter, Inc. (NASDAQ: SSTI) is set to hold a conference call on November 9, 2020, at 4:30 p.m. ET to discuss its Q3 financial results for the period ending September 30, 2020. A press release detailing these results will be issued prior to the call. Interested parties can participate via U.S. dial-in at +1 (877) 300-8521 or internationally at +1 (412) 317-6026, with a conference ID of 10149645. The call will also be available through a live audio webcast and subsequent replay until December 9, 2020, enhancing accessibility for investors.
ShotSpotter, Inc. (Nasdaq: SSTI) has rebranded its patrol management solution from ShotSpotter Missions to ShotSpotter Connect as of September 15, 2020. This upgrade introduces advanced reporting capabilities aimed at enhancing law enforcement's resource deployment and accountability. Officers can now access data on their patrol areas and tactics, with an emphasis on community engagement and crime deterrence. The system incorporates a Community First approach to minimize bias and over-policing, ensuring fair and effective patrol strategies.
ShotSpotter, Inc. (NASDAQ: SSTI) has unveiled the upgraded ShotSpotter Connect™, enhancing its patrol management solution previously known as ShotSpotter Missions™. This upgrade introduces a comprehensive reporting platform to assist law enforcement in monitoring officer activities and improving resource allocation. The new features aim to boost crime deterrence and enhance community engagement by providing insights into patrol effectiveness and tactics used. ShotSpotter's approach prioritizes impartiality in patrol assignments, addressing accountability pressures faced by law enforcement agencies.