FREMONT, Calif., April 22, 2025 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI) (“SoundThinking” or the “Company”), a leading public safety technology company, today announced the date for the release of its first quarter 2025 earnings and its participation in upcoming investor conferences. First Quarter 2025 Earnings Date SoundThinking will hold a conference call on Tuesday, May 13, 2025 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the first quarter ended M ...

SoundThinking announces the addition of Burton Goldfield, former President and CEO of TriNet, to its Board of DirectorsFREMONT, Calif., April 17, 2025 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI) (“SoundThinking” or the “Company”), a leading public safety technology company, today announced the appointment of Burton Goldfield to its Board of Directors effective April 17, 2025. He will also serve as a member of the Company’s Audit Committee and Compensation and Human Capital Committee, with the com ...

FREMONT, Calif. and COLUMBIA, Md., April 15, 2025 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology provider, today announced the integration of PlateRanger™ powered by Rekor® (Nasdaq: REKR) – its advanced license plate and vehicle recognition (ALPR) solution – into the company's SafetySmart™ platform alongside ShotSpotter® and CrimeTracer™. These milestones strengthen SoundThinking's commitment to open standards and seamless interoperability, empowering law enforcem ...

Core Insights - SoundThinking's ResourceRouter customer base more than doubled in 2024, driven by new patrol operations capabilities that enhance efficiency amid staffing challenges [2][5] - The platform provides officers with critical field information, enabling more effective and safer patrol operations [2][3] Company Overview - SoundThinking, Inc. (NASDAQ:SSTI) is a leading public safety technology provider, delivering AI- and data-driven solutions for law enforcement and security professionals [6] - The company has over 300 customers and has collaborated with approximately 2,100 agencies to improve public safety outcomes [6] Product Features - ResourceRouter includes advanced features that allow officers to access vital operational intelligence on mobile devices, facilitating centralized communication of time-sensitive information [3][4] - The platform's map overlay system serves as a centralized information depot, improving response times and operational efficiency [4] Impact on Law Enforcement - ResourceRouter has been credited with reducing violent crime and enhancing community trust through data-driven policing [5] - The system provides accountability tools for supervisors to track patrol completion in real time, fundamentally changing operational practices [5] Market Demand - The rapid growth of ResourceRouter indicates a strong demand for technology that addresses staffing shortages and enhances patrol efficiency [5]

Customer Base and Market Penetration - As of December 31, 2024, the company had approximately 328 customers and had worked with about 2,100 agencies to enhance public safety outcomes[16] - The company serves law enforcement agencies in three of the ten largest U.S. cities as ShotSpotter customers, indicating early-stage penetration in the public safety market[118] - The two largest customers, the City of New York and the City of Chicago, accounted for 23% and 10% of revenues, respectively, for the year ended December 31, 2024[131] - Approximately 39% of ShotSpotter customers have expanded their coverage areas by an average of almost eight square miles, contributing to a revenue retention rate of 105% for 2024[119] - The company has identified a significant demand for its ResourceRouter solution, estimating a market of up to 1,500 cities with an average investment of $50,000 to $100,000 per year per customer[113] Product Offerings and Innovations - The SafetySmart platform includes six data-driven tools, with ShotSpotter® being the flagship product trusted by 177 cities and 20 universities and corporations[17] - The company has introduced PlateRanger™ powered by Rekor®, an advanced license plate recognition solution launched in July 2024[17] - The integration of solutions with drones and video surveillance enhances situational awareness and improves evidence collection for law enforcement[60] - The CrimeTracer search engine allows law enforcement to access over 1.3 billion structured and unstructured data points, facilitating immediate tactical leads[74] - The CaseBuilder solution aims to improve homicide clearance rates, which were below 50% in 2021, by providing a complete digital case management system[81] - ResourceRouter utilizes AI-driven analysis to optimize patrol deployment, ensuring officers are in the right place at the right time for crime prevention[91] - The PlateRanger solution, launched in partnership with Rekor Systems, enhances investigative efficiency through real-time data sharing and vehicle identification[95] - Detailed Forensic Reports provide comprehensive, court-admissible analysis of shooting incidents, supporting investigations and legal proceedings[61] - The ShotSpotter Insight application allows users to view, search, and filter historical incident data, aiding in investigative efforts[59] - The company invested in enhancing its advanced signal processing and classification algorithms, and deployed a complete overhaul of its SafePointe solution called NextGen in September 2024[137] Financial Performance and Revenue - The company reported a net loss of $9.2 million for the year ended December 31, 2024, with an accumulated deficit of $104.3 million[180] - The company recognizes subscription revenues ratably over the term of contracts, which can lead to fluctuations in reported revenues[174] - The company estimates that a customer in the domestic market for public safety solutions could invest approximately $400,000 per year for ShotSpotter, while smaller cities may invest between $50,000 to $100,000 annually[110] - The company has increased its revolving credit commitment from $20.0 million to $25.0 million and extended the maturity date of its credit agreement to October 15, 2025[227] - As of December 31, 2024, there was $4.0 million outstanding on the company's line of credit[227] Strategic Partnerships and Acquisitions - The acquisition of SafePointe has expanded the total addressable market (TAM) into the estimated $20 billion weapons detection market, broadening the customer base into healthcare, casinos, and enterprise-level corporations[125] - The strategic partnership with Rekor to launch the PlateRanger™ solution is expected to tap into a fast-growing advanced license plate recognition (ALPR) market, with an additional TAM expansion of $3.2 billion[116][125] - The company has acquired complementary technologies or businesses, including LEEDS, LLC in November 2020, Forensic Logic in January 2022, and SafePointe in August 2023[183] Challenges and Risks - The company faces risks related to funding availability for its customers, particularly local governments, which could impact sales[185] - The company’s contract with the City of Chicago ended in November 2024, representing a significant revenue loss of 10%[186] - Macroeconomic pressures, such as inflation and rising interest rates, could adversely affect the company’s ability to maintain or increase revenues[188] - Economic uncertainties, including geopolitical tensions and inflation, may impact customer funding and purchasing decisions, leading to unpredictable revenue growth[205] - A significant portion of customers rely on federal funding for purchasing solutions, and any reduction in such funding could adversely affect sales[200] - New competitors entering the public safety solutions market could increase competition and impact revenue growth[208] - Privacy concerns regarding government surveillance may deter potential customers from purchasing the company's solutions[209] - The ongoing social unrest may adversely affect police agency budgets and funding available to current and potential customers, impacting the company's revenues and operations[211] Growth Strategy and Market Expansion - The company plans to increase investment in international product, sales, and marketing efforts to penetrate new geographies, with only four current ShotSpotter customers outside the U.S.[120] - The company aims to build a global sales organization to further penetrate the market for ShotSpotter and expand its security solutions customer base[132] - The company focuses on new customer acquisition, customer renewal, add-on sales, and coverage expansion through its direct sales teams[132] - The company aims to increase cross-selling efforts to existing customers but faces uncertainty regarding their receptiveness to new solutions[213] Employee Relations and Corporate Culture - The company has been designated a Great Place to Work® Company for the last six years, reflecting its commitment to employee relations and well-being[152] - As of December 31, 2024, the company employed 316 people, with a total attrition rate of less than 20%[152] - The company has a three-pronged strategy to grow diversity over time, focusing on attracting diverse talent, creating an inclusive workplace, and collaborating with customers and partners[154] Research and Development - The company has engaged in research and development activities with manufacturing partners and outsourced certain activities to engineering firms to supplement its internal team[137] - The company continues to evaluate new technologies for integration, aiming to enhance the value of its solutions for customers[60] - The marketing function's largest investment is in demand generation, aimed at driving a new and qualified pipeline for each product in the SafetySmart platform[133] Compliance and Regulatory Issues - Compliance with CJIS standards is necessary for certain customers, and failure to meet these requirements could harm sales and reputation[197] - Changes in federal funding availability and political landscapes may lead to operational changes in federal agencies, impacting the company's business[206]

Core Insights - SoundThinking, Inc. has secured four contracts in the Greater Los Angeles area for its ShotSpotter acoustic gunshot detection system, including one new customer agreement and three renewals [2][3] - The cities adopting or renewing ShotSpotter include Pasadena, Lancaster, Hawaiian Gardens, and Lakewood, all aiming to combat gun violence and enhance community safety [2][4] Company Overview - SoundThinking, Inc. is a public safety technology provider listed on NASDAQ under the ticker SSTI, offering AI- and data-driven solutions for law enforcement and civic leadership [10] - The company has over 300 customers and has collaborated with approximately 2,100 agencies to improve public safety outcomes [10] ShotSpotter Impact - In Pasadena, ShotSpotter has detected over 125 shootings since its deployment in 2022, addressing the issue of unreported gunfire, which exceeded 60% in Q3 2024 [4][5] - Hawaiian Gardens reported 176 ShotSpotter alerts in 2023, leading to the recovery of critical ballistic evidence and improved community relations due to reduced crime [6][7] - Lancaster completed a six-month pilot of ShotSpotter and is now entering a three-year term, with 36 confirmed alerts related to gunshots since its implementation in 2024 [8][9] Community and Law Enforcement Relations - The deployment of ShotSpotter has been recognized as a tool that enhances situational awareness for law enforcement, allowing for quicker responses and better evidence collection [5][9] - Local officials in Hawaiian Gardens and Lakewood have noted improved relationships with community members as a result of the technology's effectiveness in reducing crime [6][7][8]

Company Overview - SoundThinking, Inc. (SSTI) shares increased by 6.1% to close at $18.54, with a notable trading volume that exceeded normal levels. The stock has gained 15.5% over the past four weeks [1][2]. Business Momentum - The recent rally in SoundThinking's stock is attributed to strong business momentum driven by high demand for its transformative solutions and strategic advisory services. A key factor is the renewal of its partnership with the New York City Police Department for law enforcement software and services [2]. Financial Expectations - The company is projected to report a quarterly loss of $0.06 per share, reflecting a year-over-year improvement of 73.9%. Expected revenues are $26.89 million, which is a 5.8% increase from the same quarter last year [3]. Earnings Estimate Revisions - The consensus EPS estimate for SoundThinking has been revised 53.1% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation. This suggests potential for further strength in the stock [4]. Industry Context - SoundThinking operates within the Zacks Security and Safety Services industry. In contrast, Alarm.com Holdings (ALRM), another company in the same sector, saw its stock decline by 3.9% to $56.94, with a negative return of 2.4% over the past month [4]. Competitor Analysis - Alarm.com has experienced a 3.5% downward revision in its consensus EPS estimate to $0.48, which is a 4% decrease compared to the previous year. Alarm.com currently holds a Zacks Rank of 3 (Hold) [5].

Core Insights - SoundThinking, Inc. has renewed its partnership with the New York City Police Department (NYPD) for its subsidiary TechnoLogic Solutions to provide enterprise resource and investigative case management software and services [2][4] - The total contract value for this renewal is approximately $43 million over a 3-year term [2] - TechnoLogic has been supporting NYPD for the past 19 years, providing a customized software solution that serves over 35,000 active users [3] Company Overview - SoundThinking, Inc. is a leading public safety technology provider, delivering AI- and data-driven solutions for law enforcement and security professionals [4] - The company has worked with approximately 2,100 agencies and is trusted by more than 300 customers [4] - SoundThinking's SafetySmartTM platform includes various advanced technologies such as ShotSpotter®, CrimeTracerTM, and CaseBuilderTM, aimed at enhancing public safety outcomes [4]

Company Performance - SoundThinking (SSTI) has returned 20.4% year-to-date, significantly outperforming the average loss of about 3% in the Industrial Products sector [4] - The Zacks Consensus Estimate for SSTI's full-year earnings has increased by 4.7% over the past three months, indicating improving analyst sentiment [3] - SoundThinking belongs to the Security and Safety Services industry, which has seen a loss of about 3.1% this year, further highlighting SSTI's strong performance relative to its peers [5] Industry Context - The Industrial Products sector, which includes 200 individual stocks, is currently ranked 13 in the Zacks Sector Rank [2] - The Security and Safety Services industry, where SoundThinking operates, is ranked 70 in the Zacks Industry Rank [5] - Another outperforming stock in the Industrial Products sector is UniFirst (UNF), which has returned 23.1% year-to-date and has a Zacks Rank of 2 (Buy) [4][5]

Core Viewpoint - SoundThinking, Inc. has announced a significant milestone in its expansion into South America with a three-year agreement to deploy its ShotSpotter gunshot detection solution in Niterói, Brazil, valued at approximately $1.7 million [1][4] Group 1: Deployment Details - The ShotSpotter system will cover an area of 10 square kilometers in Niterói, a city with nearly 500,000 residents [1] - The deployment is part of the Niterói Pact Against Violence, which aims to enhance public safety through investments in technology and intelligence [3] - ShotSpotter is expected to go live in Niterói in the second quarter of 2025 [4] Group 2: Integration and Impact - The ShotSpotter system will be integrated with Niterói's Integrated Public Security Center (CISP), which includes extensive surveillance infrastructure [2] - The deployment is anticipated to enable faster emergency response and more effective law enforcement operations, contributing to the reduction of crime and violence [2][3] Group 3: Company Perspective - The CEO of SoundThinking expressed excitement about the expansion in South America, highlighting the company's commitment to enhancing public safety through advanced technology [4] - SoundThinking is recognized as a leading public safety technology provider, trusted by over 300 customers and approximately 2,100 agencies [7]