SoundThinking Delivers Comprehensive Report to Oakland Officials Highlighting ShotSpotter's Critical Role in Public Safety

Rhea-AI Summary

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.

Positive

• Directed OPD to 386 gunshot victims from 2020 to 2023 without corresponding 911 calls, potentially saving lives
• Enhanced faster police response to criminal gunfire incidents
• Supported major crime-fighting initiatives like Operation Ceasefire
• Demonstrated cost-effectiveness with $3.2 million estimated savings per prevented fatal shooting
• Achieved 97% accuracy rate, exceeding 90% contractual commitment
• Accepted as reliable evidence in over 340 court cases across 24 states
• Strong support from Oakland's business leaders, residents, and city officials

Negative

• None.

Insights

Public Safety Technology Analyst

SoundThinking's comprehensive report on ShotSpotter's impact in Oakland presents a strong case for the technology's effectiveness in public safety. The data-driven analysis highlights several key benefits:

• Identification of 386 gunshot victims from 2020 to 2023 without corresponding 911 calls, potentially saving numerous lives
• Enhanced police response to gunfire incidents, important given that less than 10% of such incidents are reported via 911
• Support for major crime-fighting initiatives like Operation Ceasefire
• Cost-effectiveness, with potential savings of $3.2 million per prevented fatal shooting compared to the $800,000 annual investment

The 97% accuracy rate and acceptance as reliable evidence in over 340 court cases further bolster ShotSpotter's credibility. The strong support from local businesses and officials suggests a positive community reception. However, the upcoming City Council discussion indicates some controversy, which investors should monitor closely for potential impact on SoundThinking's contract renewal and future growth prospects.

Financial Analyst

From a financial perspective, SoundThinking's (SSTI) report on ShotSpotter's impact in Oakland presents several positive indicators for investors:

• Long-term partnership: The 18-year relationship with Oakland since 2006 demonstrates product longevity and customer retention.
• Quantifiable ROI: The $3.2 million estimated cost savings per prevented fatal shooting vs. the $800,000 annual investment showcases a strong value proposition.
• Market validation: Support from major corporations like Blue Shield, Clorox and Kaiser Permanente indicates broader market acceptance.
• Legal credibility: Acceptance in 340+ court cases reduces legal risk and strengthens the product's defensibility.

However, the pending contract renewal discussion by the City Council introduces some uncertainty. Investors should watch this closely, as Oakland represents a significant, long-standing client. The outcome could impact SSTI's revenue stability and potentially influence other municipalities' decisions. The company's ability to retain and expand such partnerships is important for sustained growth in the competitive public safety technology sector.

Summary: SoundThinking, Inc. today announced the delivery of a detailed report to Oakland city officials, demonstrating how OPD’s use of ShotSpotter has made an impact on public safety since 2006, including lives saved, reduced gun violence, enhanced evidence collection, and substantial cost savings.

FREMONT, Calif., Oct. 08, 2024 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, today delivered a 30-page report to Oakland city officials detailing the crucial role of the Oakland Police Department’s (OPD) use of ShotSpotter in the city's public safety strategy. The report comes as the Oakland City Council's Public Safety Committee prepares to discuss the potential renewal of the ShotSpotter contract.

SoundThinking's report, based on data from the OPD and independent studies, found that since its deployment in Oakland in 2006, ShotSpotter has:

• Directed OPD to 386 gunshot victims from 2020 to 2023 who did not have a corresponding 911 call within 15 minutes or 1,000 feet of the location, potentially saving numerous lives.
• Enhanced faster and more comprehensive police response to criminal gunfire incidents, crucial as less than 10% of such incidents are reported via 911.
• Supported major crime-fighting initiatives like Operation Ceasefire with accurate gunfire data for effective resource deployment and strategic violence reduction efforts.
• Demonstrated cost-effectiveness and ROI: every life is immeasurable, but the National Institute for Criminal Justice Reform (NICJR) estimates the cost savings of preventing each fatal shooting to be $3.2 million. This compares very favorably to the roughly $800,000 annual investment in ShotSpotter in Oakland.

The report addresses and refutes several claims made against ShotSpotter, providing evidence of its effectiveness in reducing response times, improving evidence collection, and its impact on arrest outcomes. It highlights ShotSpotter's high accuracy rate of 97%, which exceeds its contractual commitment of 90%, and its acceptance as reliable evidence in over 340 court cases across 24 states.

“SoundThinking and Oakland have worked hand-in-hand since 2006 to combat gun violence, a partnership that has helped yield significant results in public safety,” said SoundThinking CEO Ralph Clark. “This report shows how ShotSpotter has helped empower Oakland's police to respond rapidly to gunfire, save lives, and gather crucial evidence. We remain committed to Oakland, continuing our shared mission of addressing the scourge of gun violence and keeping Oaklanders safe.”

The report also includes strong support for ShotSpotter from Oakland's business leaders, residents, and city officials, including Mayor Sheng Thao and Chief of Police Floyd Mitchell. Notable companies in Oakland such as Blue Shield of California, The Clorox Company, Kaiser Permanente, and Pacific Gas & Electric have expressed their “vehement” opposition to cutting ShotSpotter funding.

Read the formal response here.

To learn more about SoundThinking’s full range of public safety technologies, please visit www.SoundThinking.com.

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 approximately 250 customers and has worked with over 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 & Marketing Specialist
SoundThinking, Inc.
+1 (510) 203-0934
jfilip@soundthinking.com 

Investor Relations Contacts:
Matt Glover and Greg Bradbury
Gateway Group, Inc.
+1 (949) 574-3860
SSTI@gateway-grp.com

Ankit Hira and Sean Daly
Solebury Strategic Communications
+1 (203) 546-0444
ahira@soleburystrat.com

FAQ

What is the accuracy rate of ShotSpotter in Oakland according to the report?

According to the report, ShotSpotter has achieved a 97% accuracy rate in Oakland, which exceeds its contractual commitment of 90%.

How many gunshot victims did ShotSpotter help identify in Oakland from 2020 to 2023?

ShotSpotter directed the Oakland Police Department to 386 gunshot victims from 2020 to 2023 who did not have a corresponding 911 call within 15 minutes or 1,000 feet of the location.

What is the estimated cost savings of preventing a fatal shooting in Oakland using ShotSpotter (SSTI)?

According to the National Institute for Criminal Justice Reform (NICJR), the estimated cost savings of preventing each fatal shooting is $3.2 million, compared to the roughly $800,000 annual investment in ShotSpotter in Oakland.

How long has ShotSpotter (SSTI) been deployed in Oakland?

ShotSpotter has been deployed in Oakland since 2006, working in partnership with the city to combat gun violence.