SoundThinking Announces ShotSpotter Renewal with New York Police Department
Rhea-AI Summary
SoundThinking (Nasdaq: SSTI) announced a multi-year renewal of its partnership with the New York Police Department (NYPD) for its ShotSpotter acoustic gunshot detection service. The contract renewal is valued at $21.8 million.
ShotSpotter has been deployed in New York City since 2015, helping to address unreported gunfire incidents, which can exceed 80% of total instances. The system maintains high accuracy rates, achieving 94% in 2024, exceeding the contractually required 90%. The technology has contributed to reduced response times, improved evidence collection, and enhanced community trust.
The three-year extension reinforces the successful partnership between SoundThinking and NYPD in their efforts to combat gun violence and protect New York City communities.
Positive
- Secured $21.8 million multi-year contract renewal with NYPD
- Demonstrated strong performance with 94% accuracy rate in 2024, exceeding 90% requirement
- Maintains long-term partnership since 2015 with major law enforcement agency
Negative
- None.
News Market Reaction – SSTI
On the day this news was published, SSTI gained 13.42%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Summary: SoundThinking, Inc. today announced a multi-year renewal of its partnership with the New York Police Department for the deployment of ShotSpotter, the industry-leading acoustic gunshot detection system.
FREMONT, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology provider, today announced that the New York Police Department (NYPD) renewed its ShotSpotter acoustic gunshot detection service. The multi-year contract renewal is valued at approximately
Since it was first deployed in New York City in 2015, ShotSpotter has been an effective, accurate, and unbiased tool utilized by the NYPD to fill the gap in the amount of gunfire that goes unreported to 911, which can exceed
“SoundThinking has partnered with NYPD for nearly ten years, and this three-year extension demonstrates our continued shared commitment to that partnership,” added Ralph Clark, President and CEO of SoundThinking. “We are grateful to know that our technology is seen as making a real difference in NYPD’s gun violence response strategy to have officers rapidly pinpoint and respond to gunfire, ultimately helping to save lives and better protect New York City communities.”
About SoundThinking
SoundThinking, Inc. (Nasdaq: SSTI) is a leading public safety technology company that delivers AI- and data-driven solutions for law enforcement, civic leadership, and security professionals. SoundThinking is trusted by more than 300 customers and has worked with approximately 2,100 agencies to drive more efficient, effective, and equitable public safety outcomes. The company’s SafetySmart™ platform includes ShotSpotter®, the leading acoustic gunshot detection system; CrimeTracer™, the leading law enforcement search engine; CaseBuilder™, a one-stop investigation management system; ResourceRouter™, software that directs patrol and community anti-violence resources to help maximize their impact; SafePointe®, an AI-based weapons detection system; and PlateRanger powered by Rekor, a leading ALPR solution. SoundThinking has been designated a Great Place to Work® Company.
Company Contact:
Jerome Filip, PR Manager
SoundThinking, Inc.
+1 (510) 203-0934
jfilip@soundthinking.com
Investor Relations Contact:
Ankit Hira
Solebury Strategic Communications for SoundThinking, Inc.
+1 (203) 546-0444
ahira@soleburystrat.com
FAQ
What is the value of SoundThinking's (SSTI) new NYPD contract renewal?
What accuracy rate did SoundThinking's (SSTI) ShotSpotter achieve in 2024?
How long has ShotSpotter (SSTI) been deployed in New York City?
What percentage of gunfire incidents goes unreported to 911 according to SSTI's data?
How long is the new contract extension for SoundThinking (SSTI) with NYPD?
