SoundThinking Inc Stock Price, News & Analysis

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), a public safety technology company, has announced its upcoming fourth quarter and full year 2024 earnings conference call scheduled for Tuesday, February 25, 2025, at 4:30 p.m. ET. The financial results will be released via press release before the call.

The company will host a conference call with management, including a Q&A session, accessible via U.S. dial-in (877-407-8029) and International dial-in (1-201-689-8029). A live audio webcast will be available simultaneously, with a replay accessible until March 11, 2025.

Additionally, CEO Ralph Clark and CFO Alan Stewart will present at the ROTH Conference on March 17, 2025, at The Laguna Cliffs Marriott Resort & Spa in Dana Point, California. The presentation will be webcast live and available for replay through SoundThinking's Investor Relations website. Management will also be available for one-on-one and small group investor meetings.

SoundThinking (Nasdaq: SSTI) organized a community bike building event in New Orleans on January 7, 2025, partnering with the New Orleans Police Department (NOPD) and New Orleans Recreation Development Commission (NORD). During the company's annual retreat, approximately 275 SoundThinking employees and 10 NOPD officers assembled bicycles for children aged 5-9. The initiative included providing helmets and bike locks, with teams writing custom messages for recipients.

The event, held at the Hyatt Regency Hotel, demonstrated the company's commitment to supporting under-resourced communities beyond their core business of providing public safety technologies. The timing was particularly significant following a recent tragedy in New Orleans, with both NOPD Superintendent Anne Kirkpatrick and NORD CEO Larry Barabino, Jr. expressing gratitude for SoundThinking's community engagement efforts.

SoundThinking (Nasdaq: SSTI), a public safety technology company, has announced its participation in the 27th Annual Needham Growth Conference. The event will take place at the Lotte New York Palace in New York City on January 14, 2025. Chief Financial Officer Alan Stewart will deliver a presentation at approximately 10:15 a.m. Eastern Time.

Investors can access both live webcast and replay of the presentation through SoundThinking's Investor Relations website. The company's management team will be available for one-on-one and small group meetings with investors. Interested parties can schedule meetings through their Needham representative or by contacting SoundThinking's investor relations team.

SoundThinking (Nasdaq: SSTI) has released its third annual Environmental, Social, and Governance (ESG) Report, showcasing its commitment to public safety technology and community impact. The report highlights four key areas: Public Safety Technology, featuring their SafetySmart™ platform for efficient law enforcement response; Social Impact, through community engagement and their Data for Good program; Governance and Transparency, emphasizing diversity and AI governance; and Environmental Sustainability, focusing on energy-efficient design and ecosystem preservation initiatives.

The report follows SASB framework standards and aligns with UN Sustainable Development Goals, demonstrating the company's dedication to creating positive community safety outcomes while maintaining high standards of transparency and accountability.

SoundThinking reported Q3 2024 financial results with a 10% revenue increase to $26.3 million, driven by new and existing customer growth. Gross profit rose 11% to $15.2 million, while the GAAP net loss improved to $1.4 million from $1.9 million in Q3 2023. The company reaffirmed its FY 2024 revenue guidance of $104.0-$106.0 million and introduced FY 2025 guidance of $107.0-$109.0 million. Adjusted EBITDA for Q3 2024 was $4.5 million. Operational highlights include ShotSpotter going live in four new cities and one university and expanding in eight cities. SafePointe enhancements and a new agreement in Montevideo were noted. The company repurchased 284,790 shares for $4.0 million and reported a cash position of $15 million. CEO Ralph Clark emphasized strong customer relationships and market reach as key growth drivers.

SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, has announced its third quarter 2024 earnings conference call and participation in upcoming investor conferences. The earnings call is scheduled for Tuesday, November 12, 2024, at 4:30 p.m. Eastern time. Financial results will be released prior to the call.

The company will also participate in three investor conferences:

• The ROTH Technology Conference in New York City on November 20, 2024
• The Benchmark Discovery One-on-One Conference in New York City on December 11, 2024
• The Imperial Capital Security Investor Conference in New York City on December 12, 2024

A live audio webcast of the earnings call will be available on the company's website, with a replay accessible until November 26, 2024.

SoundThinking, Inc. (Nasdaq: SSTI) has announced a significant expansion of its ShotSpotter gunshot detection system in Montevideo, Uruguay. The Ministry of Interior for Uruguay has signed a 3-year contract to extend ShotSpotter's coverage by 12 square kilometers, effectively doubling its current footprint in the capital city.

This expansion follows the successful initial deployment of ShotSpotter in Montevideo in December 2023. The system has become a important part of Uruguay's strategy to combat gun violence. As part of this expansion, a localized Spanish-language version of the ShotSpotter InSight application has been introduced, potentially opening doors to other Spanish-speaking markets.

The contract not only highlights Uruguay's satisfaction with the initial deployment but also reflects SoundThinking's growing international presence, particularly in Latin America. This expansion demonstrates the company's commitment to enhancing public safety and saving lives through advanced technology.

SoundThinking, Inc. (Nasdaq: SSTI) has delivered a comprehensive 30-page report to Oakland city officials, highlighting the critical role of ShotSpotter in the city's public safety strategy since 2006. The report, based on data from the Oakland Police Department (OPD) and independent studies, comes as the Oakland City Council's Public Safety Committee prepares to discuss the potential renewal of the ShotSpotter contract.

Key findings include:

• ShotSpotter directed OPD to 386 gunshot victims from 2020 to 2023 who had no corresponding 911 call
• Enhanced faster police response to criminal gunfire incidents
• Supported major crime-fighting initiatives like Operation Ceasefire
• Demonstrated cost-effectiveness with an estimated $3.2 million savings per prevented fatal shooting
• Achieved a 97% accuracy rate, exceeding its 90% contractual commitment

The report addresses criticisms and highlights support from Oakland's business leaders, residents, and city officials for the continued use of ShotSpotter technology.