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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.
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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