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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.
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ShotSpotter, Inc. (NASDAQ: SSTI) reported a robust FY 2022 with revenues increasing 39% year-over-year to a record $81.0 million. The GAAP net income stood at $6.4 million, a significant turnaround from the previous year's loss of $4.4 million. For Q4 2022, revenues surged 50% to $21.0 million, bolstered by a 58% increase in gross profit. The company reaffirms FY 2023 revenue guidance of $94 million to $96 million, projecting a 17% growth at the midpoint. Adjusted EBITDA is expected to range from 24% to 26% of revenue in 2023, reflecting strong operational performance.
ShotSpotter (NASDAQ: SSTI) will hold a conference call on February 22, 2023, at 4:30 p.m. ET to discuss its financial results for Q4 and full year 2022. A press release with the financials will be issued prior to the call. The company provides precision-policing technology solutions to enhance law enforcement responses to crime. ShotSpotter serves over 200 customers with its flagship product, ShotSpotter Respond™, which is designed for rapid gunfire detection. The call will include a presentation followed by a Q&A session. A replay of the call will be available until March 22, 2023.
ShotSpotter, Inc. (NASDAQ: SSTI) is set to participate in several financial conferences in Q1 2023 aimed at enhancing investor engagement. Key events include the A.G.P. Emerging Growth Technology Conference on February 16, and the JMP Securities Technology Conference on March 6. The company will also have a presence at the 35th Annual Roth Conference on March 13-14. Executives CEO Ralph Clark and CFO Alan Stewart will represent the company at these events, focusing on its precision-policing technology solutions that aid law enforcement. For more information or to schedule meetings, interested parties can contact Gateway Group.
ShotSpotter, a leader in precision-policing technology, will present at the 25th Annual Needham Growth Conference on January 10-11, 2023, in New York. The company's management is scheduled to present on January 10 at 3:45 p.m. Eastern time, with a webcast available for replay. The firm focuses on enhancing public safety with advanced solutions like ShotSpotter Respond™, Coplink X, and case management software. With over 200 customers and 2,500 agencies, ShotSpotter is dedicated to making communities safer.
On Dec. 13, 2022, ShotSpotter (Pty) Ltd., a subsidiary of ShotSpotter, Inc. (Nasdaq: SSTI), announced the rollout of a new phase in Hanover Park, Cape Town, to enhance gunshot detection through its technology. This initiative aims to support local law enforcement in effectively addressing rising gun violence. The previous phase from 2016 to 2019 saved over 200 lives and significantly reduced shooting incidents. Since the new deployment began, ShotSpotter has detected 68 incidents, aiding police in identifying high-risk areas for targeted actions against illegal firearms.
ShotSpotter, Inc. (Nasdaq: SSTI) has contracted with the Commonwealth of Massachusetts for a multi-year subscription of Coplink X valued over $4 million. This investigative tool enhances crime-solving capabilities with the largest police data database. The system will benefit local and state law enforcement in Massachusetts. Additionally, ShotSpotter has secured contracts for its investigatory tools, including ShotSpotter Investigate™ and ShotSpotter Gun Crime Management™, with various law enforcement agencies. The expansion of these services aims to improve investigation efficiency and case closure rates.
ShotSpotter, Inc. (NASDAQ: SSTI), a leader in precision-policing technology, is scheduled to attend two major financial conferences in December 2022. The first is the Ladenburg Thalmann Virtual Tech Expo on December 7 at 1:30 p.m. ET, followed by the Imperial Capital 19th Annual Security Investor Conference on December 15 at 1:45 p.m. ET. These appearances reflect ShotSpotter's commitment to engage with investors and share insights into its innovative technology solutions that enhance public safety.
ShotSpotter, Inc. (SSTI) reported a 29% increase in revenues for Q3 2022, totaling $18.8 million, up from $14.5 million in Q3 2021. GAAP net income reached $4.0 million, contrasting with a net loss of $949,000 a year prior. The company maintained its FY 2022 revenue guidance at $81-$82 million, forecasting 40% growth at the midpoint and introduced FY 2023 revenue guidance of $94-$96 million, indicating 17% growth. Adjusted EBITDA also increased by 37% to $3.1 million.
ShotSpotter, Inc. (NASDAQ: SSTI) announced a conference call scheduled for November 8, 2022, at 4:30 p.m. Eastern time to discuss its third quarter financial results for the period ending September 30, 2022. The call will follow a press release detailing the financial results, with management providing insights and answering questions. A live audio webcast will be accessible, and a replay will be available until December 8, 2022. ShotSpotter is recognized for its public safety technology solutions, serving over 200 customers and 2,500 agencies.