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. (Nasdaq: SSTI) is a public safety technology company that regularly issues news and updates about its AI- and data-driven solutions for law enforcement, civic leadership, and security professionals. The company’s news releases cover developments across its SafetySmart platform, which includes ShotSpotter, CrimeTracer, CaseBuilder, ResourceRouter, SafePointe, and PlateRanger.
Investors and public safety professionals following SoundThinking’s news can expect detailed announcements on quarterly financial results, including revenues, gross profit, net loss, Adjusted EBITDA, and Annual Recurring Revenue (ARR). The company uses these updates to explain its operating performance, recurring revenue base, and investments in AI modeling and tools that enhance its platform capabilities.
Product-focused news often highlights enhancements to key offerings. For example, SoundThinking has announced CrimeTracer Gen3 as the most significant upgrade in that product’s history, describing how it connects more than 1 billion CJIS-compliant records and introduces features such as automated patrol briefings, a patrol dashboard, a trends dashboard, enhanced natural language search, AI summarization, and entity summary pages. Other releases describe the growth of SafePointe, the AI-based weapons detection system, and the role of the Alert Review Center in providing real-time human review of alerts.
Corporate and capital markets updates appear in the form of conference participation notices, earnings call schedules, and disclosures about amendments to credit agreements. These items inform readers about SoundThinking’s interactions with investors, its revolving credit facilities, and the timing of key financial communications.
This news page aggregates these various announcements so readers can track SoundThinking’s financial reporting, product evolution, deployments with agencies and institutions, and broader public safety technology initiatives over time.
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.
SoundThinking (Nasdaq: SSTI) has unveiled the next generation of SafePointe, its advanced weapons detection system. This major upgrade features AI-driven software and new hardware components to enhance threat detection in high-traffic areas. Key improvements include:
1. Advanced hardware with a 3D camera and NVIDIA-driven edge processor
2. New AI model with patent-pending technology combining person-motion data and magnetic signature analysis
3. Enhanced enterprise features with comprehensive reporting and monitoring tools
4. Improved user experience with a new mobile app
The company has initiated SOC2 and HIPAA certification processes, expected to complete by early 2025. CEO Ralph Clark emphasized the company's commitment to innovation and meeting complex security needs.
SoundThinking, Inc. (Nasdaq: SSTI) has released a report highlighting the success of its ShotSpotter program in Winston-Salem. The report, based on independent research by the Center for Crime Science and Violence Prevention at Southern Illinois University Edwardsville, demonstrates significant benefits across four key metrics:
1. Lives saved: 27 gunshot victims received medical aid, with at least two lives saved directly due to ShotSpotter.
2. Crime reduced: 24% reduction in aggravated assaults and homicides within ShotSpotter's coverage area.
3. Evidence recovered: 4,400% increase in shell casing recovery.
4. Financial ROI: $8.4 to $8.8 million saved annually, yielding a return of $26 for every $1 invested.
The report also suggests that Winston-Salem's proposed drone program would be most effective when paired with existing ShotSpotter technology.
SoundThinking Inc (Nasdaq: SSTI) has appointed Adan Pope as Senior Vice President of Data and Artificial Intelligence, a newly created role to lead the company's AI and machine learning initiatives across its SafetySmart™ Platform and internal operations. Pope brings over 30 years of technology leadership experience, most recently serving as CTO at Intrado Life and Safety.
This strategic hire aims to accelerate AI-driven innovation in public safety technology, reinforcing SoundThinking's market leadership. Pope will establish a Center of Excellence for AI/ML within the company and oversee the centralization and expansion of AI/ML capabilities. He will also lead the Engineering Organization for CrimeTracer, which manages over 1 billion law enforcement Criminal Justice Information Services Division records.
SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, is set to present at the 2024 Annual Gateway Conference in San Francisco. The company's management team will deliver a presentation on Thursday, September 5th at 10:30 a.m. Pacific Time at the Four Seasons Hotel. This event provides an opportunity for investors and analysts to gain insights into SoundThinking's operations and strategy.
The presentation will be webcast live and available for replay, allowing remote access for interested parties. Additionally, SoundThinking executives will be available for one-on-one meetings throughout the conference, offering a more personalized interaction with potential investors and industry professionals.
SoundThinking, Inc. (Nasdaq: SSTI) has announced 4 new contracts and expansions for its ShotSpotter gunshot detection system and ResourceRouter software in Illinois and the Chicagoland area. The deployments include:
- Elmwood Park, IL: New 3-year contract for 2 square miles of ShotSpotter coverage
- Chicago Heights, IL: 2 square miles of ShotSpotter coverage for 3 years and ResourceRouter patrol management technology
- Freeport, IL: Doubled ShotSpotter coverage to 2 square miles under a new 3-year agreement
These implementations aim to enhance public safety, address gun violence, and optimize resource allocation for law enforcement agencies facing staffing shortages.
SoundThinking, Inc. (Nasdaq: SSTI) reported strong Q2 2024 financial results, with revenues increasing 22% to a record $27.0 million. The company saw growth from new and existing customers, as well as contributions from CaseBuilder. Key highlights include:
- Gross profit up 27% to $16.1 million (60% of revenues)
- Adjusted EBITDA increased over 110% to $5.1 million (19% of revenues)
- ShotSpotter went live in 3 new cities and expanded in 4 current cities
- Launched strategic partnership for 'PlateRanger, Powered by Rekor' LPR solution
SoundThinking reaffirmed its FY 2024 revenue guidance of $104.0-$106.0 million, representing 13% year-over-year growth at the midpoint, and Adjusted EBITDA margin guidance of 18-20%.