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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 Launches New Program for Outdoor Security
On January 21, 2021, ShotSpotter (Nasdaq: SSTI) announced a program to enhance security at government campuses nationwide. This initiative follows the January 6 Capitol assault, addressing rising threats against public officials and citizens. The SecureCampus program utilizes advanced acoustic gunshot detection technology similar to the established ShotSpotter Respond™ system. Key features include rapid incident verification, customized security solutions, and integration with existing security systems, aimed at effectively mitigating threats and improving public safety.
ShotSpotter, a leader in precision policing solutions, will present at the 23rd Annual Needham Growth Conference from January 11-15, 2021. The presentation is scheduled for January 14 at 4:15 p.m. Eastern time, with one-on-one meetings available on January 13-14. ShotSpotter's innovative products, including ShotSpotter Respond™ and ShotSpotter Connect™, are utilized by over 100 U.S. cities to improve crime response and investigation. The webcast of the presentation will be available for replay.
ShotSpotter, Inc. (Nasdaq: SSTI) reported a 48% increase in gunshot incidents during 2020 compared to 2019, coinciding with social unrest and a pandemic. New Year’s Eve 2021 logged 12,266 gunshot alerts, nearly double the three-year average of 6,803. The Midwest saw the highest increase at 58%, while the South reported a 19% increase. The report underscores growing violence, with over 19,000 homicides in the U.S. in 2020. Company leaders express hope for improved policing strategies to address these issues in the coming year.
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.
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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. (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. (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.