SoundThinking Expands ShotSpotter Coverage in Montevideo, Uruguay, Doubling Deployment Footprint

Rhea-AI Summary

SoundThinking, Inc. (Nasdaq: SSTI) has announced a significant expansion of its ShotSpotter gunshot detection system in Montevideo, Uruguay. The Ministry of Interior for Uruguay has signed a 3-year contract to extend ShotSpotter's coverage by 12 square kilometers, effectively doubling its current footprint in the capital city.

This expansion follows the successful initial deployment of ShotSpotter in Montevideo in December 2023. The system has become a important part of Uruguay's strategy to combat gun violence. As part of this expansion, a localized Spanish-language version of the ShotSpotter InSight application has been introduced, potentially opening doors to other Spanish-speaking markets.

The contract not only highlights Uruguay's satisfaction with the initial deployment but also reflects SoundThinking's growing international presence, particularly in Latin America. This expansion demonstrates the company's commitment to enhancing public safety and saving lives through advanced technology.

Positive

• Expansion of ShotSpotter coverage in Montevideo, doubling the deployment footprint
• 3-year contract signed with Uruguay's Ministry of Interior
• Successful initial deployment leading to expansion decision
• Introduction of localized Spanish-language version of ShotSpotter InSight application
• Growing international presence, particularly in Latin America

Negative

• None.

Insights

Technology Analyst

The expansion of ShotSpotter coverage in Montevideo represents a significant growth opportunity for SoundThinking. Doubling the deployment footprint in a major international market demonstrates strong product validation and potential for further expansion. The 3-year contract provides stable, recurring revenue and enhances the company's international presence.

The localized Spanish-language version of ShotSpotter InSight is a strategic move, opening doors to other Spanish-speaking markets in Latin America. This could lead to accelerated growth in the region, diversifying SoundThinking's revenue streams beyond its primary U.S. market.

However, investors should note that international expansions often come with challenges such as regulatory hurdles and geopolitical risks. The impact on SoundThinking's financials may be in the short term, given the company's $151 million market cap, but it sets a foundation for long-term growth in emerging markets.

Public Safety Expert

The expansion of ShotSpotter in Montevideo signifies a growing acceptance of gunshot detection technology in law enforcement strategies outside the United States. Uruguay's decision to double the coverage after less than a year of initial deployment suggests strong performance and tangible benefits in addressing gun violence.

This success story could serve as a powerful case study for SoundThinking to attract other international clients, particularly in regions facing similar public safety challenges. The endorsement from Uruguay's Minister of the Interior adds credibility to ShotSpotter's effectiveness.

From a public safety perspective, the expanded coverage should lead to faster response times and more accurate localization of gunshot incidents, potentially reducing gun violence and improving community safety. This positive impact could further enhance SoundThinking's reputation and drive adoption in other cities and countries.

Summary: SoundThinking, Inc. today announced a 3-year agreement with the Ministry of Interior of Uruguay to double ShotSpotter’s coverage in Montevideo, expanding its gunshot detection system coverage by an additional 12 square kilometers.

BOSTON, Oct. 21, 2024 (GLOBE NEWSWIRE) -- IACP – SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology provider, today announced a major expansion of its ShotSpotter gunshot detection system in Montevideo, Uruguay. The Ministry of Interior for the Oriental Republic of Uruguay has signed a 3-year contract to extend ShotSpotter’s coverage by 12 square kilometers, doubling its current footprint in the capital city.

This expansion builds upon the successful initial deployment of ShotSpotter in Montevideo and underscores the Ministry's confidence in ShotSpotter’s proven ability to enhance public safety and save lives. Since its original deployment in December 2023, ShotSpotter has become a vital component of Uruguay's comprehensive strategy to address gun violence, prompting the decision to expand coverage.

“We are pleased to extend our partnership with SoundThinking to further enhance public safety in Montevideo,” said Nicolás Martinelli, Minister of the Interior of Uruguay. “ShotSpotter has delivered positive results since its initial deployment, and we believe this expansion will strengthen our ability to protect our citizens in communities similarly affected by gun violence.”

The contract expansion not only highlights Uruguay’s successful initial deployment but also reflects SoundThinking’s growing momentum internationally. Importantly, a localized Spanish-language version of the ShotSpotter InSight application has been rolled out and provides a foundation for other Spanish-speaking markets.

“We are excited to deepen our collaboration with Uruguay’s Ministry of Interior and to see further deployment of ShotSpotter in Montevideo,” said Ralph Clark, CEO of SoundThinking. “This expansion demonstrates our shared commitment to making cities safer and saving lives. It also marks another significant milestone in SoundThinking’s growth across Latin America, where our advanced technology is being trusted to address critical public safety challenges.”

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

Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the expansion of ShotSpotter’s coverage in Montevideo and the impact on the ability to protect citizens, and SoundThinking’s growth internationally. Words such as “expect,” “anticipate,” “should,” “believe,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the company’s control. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to the effective use of the company’s technology and achieving its intended benefits, as well as other risk factors included in the company’s most recent annual report on Form 10-K and quarterly report on Form 10-Q and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this press release and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

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^TM platform includes ShotSpotter^®, the leading acoustic gunshot detection system; CrimeTracer^TM, the leading law enforcement search engine; CaseBuilder^TM, a one-stop investigation management system; ResourceRouter^TM, 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:
Alan Stewart, CFO
SoundThinking, Inc.
+1 (510) 794-3100
astewart@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 new contract between SoundThinking and Uruguay's Ministry of Interior for ShotSpotter (SSTI)?

SoundThinking (SSTI) has signed a 3-year contract with Uruguay's Ministry of Interior to expand ShotSpotter coverage in Montevideo by an additional 12 square kilometers, doubling its current footprint in the capital city.

When was ShotSpotter (SSTI) initially deployed in Montevideo, Uruguay?

ShotSpotter (SSTI) was initially deployed in Montevideo, Uruguay in December 2023.

What new feature has SoundThinking (SSTI) introduced for the Spanish-speaking market?

SoundThinking (SSTI) has introduced a localized Spanish-language version of the ShotSpotter InSight application, which provides a foundation for expansion into other Spanish-speaking markets.

How does the ShotSpotter expansion in Montevideo affect SoundThinking's (SSTI) international presence?

The expansion in Montevideo reflects SoundThinking's (SSTI) growing momentum internationally, particularly in Latin America, where its advanced technology is being trusted to address critical public safety challenges.