SoundThinking Inc Stock Price, News & Analysis

SoundThinking (Nasdaq: SSTI) has announced the beta release of generative AI capabilities for its CrimeTracer law enforcement search engine. The new chatbot technology enables natural language processing for investigators to search and discover critical information across billions of records.

The AI-powered functionality, currently in beta testing with select agencies, will be available to all CrimeTracer customers this summer at no additional cost. CrimeTracer is presently used by approximately 2,100 law enforcement agencies nationwide, with users conducting millions of searches annually.

Key benefits include:

• Natural language queries replacing complex search syntax
• More comprehensive results across disparate data sources
• Increased efficiency in search formulation and analysis
• Democratized access to advanced search capabilities

SoundThinking (SSTI), a public safety technology company, has announced its first quarter 2025 earnings conference call scheduled for Tuesday, May 13, 2025, at 4:30 p.m. ET. The company will release its financial results for Q1 2025 (ended March 31) prior to the call.

Management will host a presentation followed by Q&A, with both domestic and international dial-in options available. A live audio webcast will be accessible via the company's website, with replay available until May 27, 2025.

Additionally, company executives will participate in three upcoming investor conferences:

• Ladenburg Thalmann Innovation Expo 2025 in New York (May 21)
• Wolfe Research Small and Mid-Cap Conference virtually and in NYC (June 4-5)
• ROTH London Conference at Four Seasons Hotel London (June 25)

SoundThinking (NASDAQ: SSTI) has appointed Burton Goldfield, former President and CEO of TriNet, to its Board of Directors effective April 17, 2025. Goldfield will serve on both the Audit Committee and Compensation and Human Capital Committee.

Goldfield brings extensive executive leadership experience, notably from his tenure at TriNet Group where he led the company through its IPO in March 2014 and executed multiple strategic acquisitions including Gevity, AccordHR, SOI, ExpenseCloud, Ambrose, Zenefits, and Clarus R+D Solutions. Prior to TriNet, he served as CEO at Ketera Technologies and held senior positions at Hyperion Solutions and IBM's Rational Software division.

Currently, Goldfield serves on the Board of Directors of EvoNexus and as Chairman of the Board at FinancialForce. He has been recognized as 'Most Admired CEO' by San Francisco Business Times and received the Gold Award for 'CEO of the Year' from CEO World Awards.

SoundThinking (SSTI) has announced the integration of PlateRanger, its advanced license plate recognition solution, into the SafetySmart platform alongside ShotSpotter and CrimeTracer. This integration enables law enforcement agencies to combine real-time gunshot detection with vehicle identification and cross-jurisdictional investigative insights.

The platform now integrates with Axon's Fusus, expanding its Real-Time Crime Center capabilities. The integration offers multiple benefits including enhanced investigations linking gunfire events with suspect vehicle data, expanded investigative reach through the Rekor Public Safety Network (RPSN), and improved multi-agency collaboration.

The company's market footprint includes over 175 ShotSpotter customers and approximately 2,100 CrimeTracer agencies with access to more than 1 billion records. The RPSN operates as a federated, peer-to-peer data sharing platform enabling secure vehicle recognition data exchange across jurisdictions.

SoundThinking (Nasdaq: SSTI) announced that its ResourceRouter™ patrol operations solution customer base more than doubled in 2024, driven by new features that enhance patrol efficiency amid staffing challenges. The platform now provides officers with critical field information through mobile devices, including building gate codes, gang areas, patrol zones, BOLOs, and warrant information in a unified interface.

Chief Jose Rivera of East Chicago Police Department highlighted that ResourceRouter helped his department operate effectively despite losing 45% of manpower. The platform's map overlay system serves as a centralized patrol information depot, reducing time spent searching through multiple systems and improving response times.

The solution provides analytical tools for data-driven policing and resource allocation transparency. South Bend Police Department's Operations Division Chief Dan Skibins credited ResourceRouter for reducing violent crime through strategic officer deployment and enhanced accountability tools.

SoundThinking (Nasdaq: SSTI) announced new deployments and renewals of its ShotSpotter acoustic gunshot detection system across four Greater Los Angeles cities. The announcement includes one new customer agreement and three contract renewals in Pasadena, Lancaster, Hawaiian Gardens, and Lakewood.

Key highlights include:

• Pasadena: Detected over 125 shootings since 2022, addressing 60% of unreported gunfire incidents
• Hawaiian Gardens: Recorded 176 alerts in 2023, leading to evidence recovery and 18 witness statements
• Lakewood: Implemented in July 2024, serving 80,000+ residents
• Lancaster: Completed six-month pilot with 36 confirmed alerts, converting to three-year term

The technology has demonstrated success in improving response times, evidence collection, and community trust across these jurisdictions, while helping law enforcement detect unreported gunfire and provide faster emergency response.

SoundThinking (Nasdaq: SSTI) has announced the renewal of its contract with the New York City Police Department (NYPD) through its subsidiary TechnoLogic Solutions. The contract, valued at $43 million over 3 years, continues a 19-year partnership for providing enterprise resource and investigative case management software services.

The comprehensive software solution serves over 35,000 active NYPD users and includes various applications such as:

• Police Records Management
• Prisoner Arraignment
• Summonses, Complaints and Arrests
• Personnel Management
• Juvenile Apprehension
• Warrants
• Property and Evidence Management
• Command Discipline
• Medical Case Management

SoundThinking (Nasdaq: SSTI) has announced a significant expansion in Latin America through a three-year agreement to deploy ShotSpotter in Niterói, Brazil. The contract, valued at approximately $1.7 million, covers 10 square kilometers in this city of 500,000 residents near Rio de Janeiro.

The ShotSpotter system will be integrated with Niterói's Integrated Public Security Center (CISP), which includes 120 fencing cameras, 522 monitoring devices, and 10 security portals. The deployment is part of the Niterói Pact Against Violence and builds on SoundThinking's successful expansion in Montevideo, Uruguay.

The acoustic gunshot detection solution is expected to go live in the second quarter of 2025, enhancing the city's emergency response capabilities and law enforcement operations.

SoundThinking (SSTI) reported record revenues of $102.0 million for FY 2024, marking a 10% increase from 2023. However, Q4 2024 saw a revenue decline of 10% to $23.4 million, impacted by $3.5 million in delayed contract renewals.

The company reported a full-year GAAP net loss of $9.2 million, compared to a $2.7 million loss in 2023. Annual recurring revenue (ARR) stood at $95.6 million at the start of 2025, with a revenue retention rate of 105%.

For FY 2025, SoundThinking has raised its guidance, projecting revenues of $111.0-113.0 million (10% YoY growth at midpoint) and increased Adjusted EBITDA margin to 21-23%. The company expects ARR to reach approximately $110.0 million by early 2026.

Operational highlights include ShotSpotter going live in 20 new cities, 5 universities, and 24 expansions with existing customers during 2024.