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 (Nasdaq: SSTI) and Rekor Systems (Nasdaq: REKR) have announced a strategic partnership to launch PlateRanger, Powered by Rekor, a new end-to-end public safety solution. This collaboration combines SoundThinking's acoustic gunshot detection and investigative solutions with Rekor's vehicle and license plate recognition (LPR) technology.
PlateRanger is now available for demonstration and quotation, expected to be part of the SafetySmart™ platform in September 2024. This marks SoundThinking's expansion into the $3.2B global LPR market. The partnership aims to create synergies by combining SoundThinking's law enforcement customer base with Rekor's roadway intelligence capabilities.
The new offering bundles solar power, warranty, integrations, and customer service into a single subscription price, providing a cost-effective tool for law enforcement agencies. When used with ShotSpotter®, PlateRanger will enable streamlined gun crime investigations and improved operational efficiency.
SoundThinking (Nasdaq: SSTI) has issued a formal reply to the New York City Comptroller's audit report on ShotSpotter's accuracy and effectiveness. The company refutes two main conclusions from the report: (1) low rates of confirmed shots detected, and (2) negligible improvements in NYPD response times. SoundThinking's 47-page response includes empirical data, independent studies, and testimonials from law enforcement professionals and public officials.
The company argues that the report ignored critical components of the technology's effectiveness, such as providing real-time awareness of gunfire, enabling quick and safe police response, and saving lives. SoundThinking maintains that ShotSpotter consistently exceeds the 90% accuracy standard required by its contract with NYPD. This response follows support from 11 Massachusetts law enforcement chiefs praising ShotSpotter's accuracy and value.
SoundThinking (Nasdaq: SSTI), a leading public safety technology company, has scheduled its second quarter 2024 earnings conference call for Tuesday, August 6, 2024, at 4:30 p.m. Eastern time. The company will release its financial results for the quarter ended June 30, 2024, prior to the call. Management will host a presentation followed by a Q&A session.
Investors can access the call via U.S. dial-in (877-407-8029) or International dial-in (1-201-689-8029) using Conference ID 13747815. A live audio webcast will be available simultaneously, and a replay will be accessible until August 20, 2024. The webcast and replay can be found on the company's investor relations website at www.soundthinking.com.
SoundThinking shared an open letter from 11 Massachusetts law enforcement leaders supporting ShotSpotter technology. This letter counters claims made by four Congress members about ShotSpotter's accuracy and effectiveness. Released on July 2, 2024, the letter states that those on the ground, not distant officials, best judge ShotSpotter's value. Signatories include top officials from Boston, Cambridge, Revere, and other localities. The letter emphasizes ShotSpotter's role in saving lives and responding to gun violence. The full letter is available on GlobeNewswire.
SoundThinking (Nasdaq: SSTI) reported a 23% increase in Q1 2024 revenues to $25.4 million, driven by new customer subscriptions and contributions from SafePointe. Gross profit rose 32% to $14.9 million. However, the company experienced a net loss of $2.9 million, compared to a $1.8 million loss in Q1 2023. Adjusted EBITDA improved slightly to $3.0 million. The company reaffirmed its FY 2024 revenue guidance of $104-106 million and expects Adjusted EBITDA margins of 18-20%. Key developments include launching ShotSpotter in Philadelphia and expanding its SafetySmart™ platform.
SoundThinking, Inc. (Nasdaq: SSTI) will present at the 19th Annual Needham Technology, Media, & Consumer Conference on May 15, 2024. CFO Alan Stewart will present and hold meetings with investors. The presentation will be webcast live.
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