SoundThinking(SSTI)
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SoundThinking(SSTI) - 2020 Q2 - Earnings Call Transcript
2020-08-08 14:45
Financial Data and Key Metrics Changes - The company reported quarterly revenues of $11.3 million, a 10% increase from $10.3 million in the same quarter last year [8][33] - Net income for the quarter was $866,000 or $0.07 per diluted share, compared to $387,000 or $0.03 per diluted share in Q2 2019 [8][37] - Adjusted EBITDA for the second quarter was $3.4 million, a 41% increase from $2.4 million in the prior-year period [34] Business Line Data and Key Metrics Changes - The company went live with 26 new mines, including expansions in Cincinnati and New York City, and new deployments in Springfield, Illinois, Albuquerque, the U.S. Virgin Islands, and Mammoth County, New Jersey [8][9] - Six multiyear contracts were renewed in Q2, representing nearly $7 million in bookings [14] Market Data and Key Metrics Changes - The number of ShotSpotter loaded gunfire incidents increased by 34.6% year-to-date 2020 compared to 2019, and over 68% since the George Floyd incident [23] - The company has expanded its presence in New York City to cover approximately 74 miles [21] Company Strategy and Development Direction - The company aims to enhance its value by providing complementary solutions to its core gunshot detection technology, including an emissions platform for crime trend analysis [27] - The management believes that the "Defund the Police" movement may represent a potential catalyst for the business, as it aligns with the demand for precision policing [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's long-term opportunities, noting that public safety remains a priority for municipal budgets [42] - The company expects to remain profitable in both Q3 and Q4, as well as for the entirety of 2020 [39] Other Important Information - The company ended the quarter with $25.8 million in cash and no short or long-term debt, while planning to raise the borrowing limit on its revolving line of credit [38] - Deferred revenue at the end of the quarter was $23.3 million, down from $24.6 million at the end of Q1 2020 [37] Q&A Session Summary Question: Can you provide clarity on the revised guidance range? - Management narrowed the guidance due to increased visibility, expecting attrition to be around 2% to 3% instead of the previously anticipated 5% [46][47] Question: What is the potential for further expansion in New York City? - Management indicated that New York City is fairly well deployed, covering over 70 square miles, and further significant expansion is not expected at this time [48][49] Question: How is the selling cycle changing in the work-from-home environment? - The company is finding innovative ways to engage prospects digitally and has seen increased inbound interest due to social unrest and rising gun violence [54][56] Question: Can you comment on the disinformation campaign mentioned? - Management noted that while there is energy around the "Defund the Police" movement, the core of the movement focuses on reimagining policing rather than abolishing it [61][63] Question: How is the company addressing budgetary meetings for municipalities? - Management is optimistic about maintaining normal attrition rates and is prepared to assist municipalities in finding funding to support their ShotSpotter services [70][72] Question: Are there challenges in deployments due to COVID-19 restrictions? - While some mobility has returned, challenges remain in certain areas where restrictions are still in place [74][90] Question: How are Latin American opportunities progressing? - The pipeline for Latin American opportunities is strong, with expectations for at least one booking before the end of the year [83] Question: How does the current level of interest compare to last year? - The current pipeline is stronger than last year, driven by the increase in gun violence [87]
SoundThinking(SSTI) - 2020 Q2 - Quarterly Report
2020-08-07 23:09
[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the company's unaudited condensed consolidated financial statements and management's analysis [Item 1. Condensed Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) The company presents its unaudited condensed consolidated financial statements for the period ended June 30, 2020, showing decreased assets and liabilities, improved net income, and positive operating cash flow [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section details the company's financial position, including assets, liabilities, and equity, as of June 30, 2020, and December 31, 2019 Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2020 (Unaudited) | December 31, 2019 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $25,824 | $24,550 | | Accounts receivable and contract asset | $7,839 | $13,883 | | Total current assets | $36,250 | $40,197 | | Total assets | $56,406 | $60,571 | | **Liabilities & Stockholders' Equity** | | | | Deferred revenue, short-term | $21,957 | $26,360 | | Total current liabilities | $26,621 | $32,424 | | Total liabilities | $27,538 | $33,320 | | Total stockholders' equity | $28,868 | $27,251 | | Total liabilities and stockholders' equity | $56,406 | $60,571 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This section presents the company's revenues, gross profit, operating income, and net income for the three and six months ended June 30, 2020 and 2019 Condensed Consolidated Statements of Operations Highlights (in thousands) | Metric | Three Months Ended June 30, 2020 | Three Months Ended June 30, 2019 | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | :--- | :--- | | Revenues | $11,277 | $10,260 | $21,735 | $19,853 | | Gross profit | $6,924 | $5,983 | $13,040 | $11,572 | | Operating income (loss) | $910 | $290 | $887 | $(30) | | Net income | $866 | $387 | $879 | $25 | | Net income per share, diluted | $0.07 | $0.03 | $0.08 | $0.00 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section outlines the company's cash inflows and outflows from operating, investing, and financing activities for the six months ended June 30, 2020 and 2019 Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | Net cash provided by operating activities | $5,213 | $7,691 | | Net cash used in investing activities | $(2,334) | $(2,402) | | Net cash provided by (used in) financing activities | $(1,456) | $11,843 | | Increase in cash and cash equivalents | $1,423 | $17,132 | | Cash and cash equivalents at end of period | $25,824 | $27,432 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the condensed consolidated financial statements - The company's main product is ShotSpotter Flex, a leading outdoor gunshot detection system, with other solutions for campuses, infrastructure, patrol management, and environmental protection, primarily on a SaaS-based subscription model[23](index=23&type=chunk) - Significant customer concentration exists, with two customers accounting for **19% and 12% of total revenues** in Q2 2020, and three customers representing **30%, 12%, and 10% of total accounts receivable** as of June 30, 2020[31](index=31&type=chunk)[32](index=32&type=chunk) - The company relies on a single supplier as the sole manufacturer for its proprietary sensors[33](index=33&type=chunk) - As of June 30, 2020, the company has estimated remaining performance obligations of **$55.7 million** for contractually committed revenues, to be recognized through 2025, including **$19.7 million** for the remainder of 2020 and **$26.1 million** for 2021[38](index=38&type=chunk) - In May 2019, the Board approved a stock repurchase program for up to **$15 million**, with **74,520 shares repurchased for $1.6 million** during the six months ended June 30, 2020, leaving **$6.7 million** available[52](index=52&type=chunk)[53](index=53&type=chunk) - The company is involved in a lawsuit alleging collusion to fabricate gunshot alert evidence, which it believes is without merit[73](index=73&type=chunk) - The COVID-19 pandemic is expected to adversely impact operations for at least the balance of 2020, causing deployment delays, customer funding challenges, and potential supply chain disruptions[76](index=76&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting revenue growth driven by new customers and expansions, improved gross profit margin, and increased net income, while detailing significant risks from the COVID-19 pandemic and social unrest [Overview](index=18&type=section&id=Overview) This section provides a general description of the company's business, primary products, customer base, and operational context - The company's flagship product, ShotSpotter Flex, is the primary revenue driver, accounting for approximately **96% of total revenues** in the first six months of 2020[88](index=88&type=chunk) - As of June 30, 2020, the company had coverage for approximately **770 square miles** under contract across 109 cities and 13 campuses/sites, with **761 square miles** having gone live[83](index=83&type=chunk) - The company's two largest customers, the City of Chicago and the City of New York, accounted for **19% and 13% of total revenues**, respectively, for the first six months of 2020[88](index=88&type=chunk) - The COVID-19 pandemic has adversely impacted the company's ability to deploy customer solutions since mid-March 2020 due to work-from-home policies and travel restrictions[83](index=83&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) This section analyzes the company's financial performance, including revenues, gross profit, and net income, for the reported periods Comparison of Three Months Ended June 30, 2020 and 2019 (in thousands) | Metric | 2020 | 2019 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenues | $11,277 | $10,260 | $1,017 | 10% | | Gross Profit | $6,924 | $5,983 | $941 | 16% | | Operating Income | $910 | $290 | $620 | 214% | | Net Income | $866 | $387 | $479 | 124% | - The **$1.0 million revenue increase** in Q2 2020 was primarily due to new customers and expansions, offset by COVID-19 related deployment and renewal delays, with **76 net new square miles** going live since June 30, 2019[127](index=127&type=chunk) Comparison of Six Months Ended June 30, 2020 and 2019 (in thousands) | Metric | 2020 | 2019 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenues | $21,735 | $19,853 | $1,882 | 9% | | Gross Profit | $13,040 | $11,572 | $1,468 | 13% | | Operating Income (Loss) | $887 | $(30) | $917 | 3,057% | | Net Income | $879 | $25 | $854 | 3,416% | - For the first six months of 2020, general and administrative expenses increased by **$0.7 million (19%)** primarily due to higher personnel-related costs, business insurance, and legal expenses[141](index=141&type=chunk) [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's cash position, credit facilities, and cash flow activities, highlighting its ability to meet short-term and long-term obligations - The company's principal source of liquidity is cash and cash equivalents, totaling **$25.8 million** as of June 30, 2020[144](index=144&type=chunk) - The company has a **$10.0 million credit facility**, with no amounts outstanding as of June 30, 2020[144](index=144&type=chunk) - Net cash provided by operating activities decreased by **$2.5 million to $5.2 million** for the first six months of 2020, primarily due to the timing of contract execution, billings, and collections[152](index=152&type=chunk) - During Q2 2020, the company repurchased **74,520 shares** of its common stock for **$1.6 million** under its stock repurchase program[149](index=149&type=chunk) [Item 3. Qualitative and Quantitative Disclosures About Market Risk](index=28&type=section&id=Item%203.%20Qualitative%20and%20Quantitative%20Disclosures%20About%20Market%20Risk) The company states that its market risk exposure is primarily from fluctuations in interest rates and foreign exchange rates, with no material changes during the six months ended June 30, 2020 - The company's primary market risk exposures are from fluctuations in interest rates and foreign exchange rates[162](index=162&type=chunk) - There were no material changes in market risk during the first six months of 2020[163](index=163&type=chunk) [Item 4. Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, 2020, with no material changes in internal control over financial reporting during the quarter - Management concluded that as of June 30, 2020, the company's disclosure controls and procedures were effective[164](index=164&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended June 30, 2020, that have materially affected, or are reasonably likely to materially affect, internal controls[165](index=165&type=chunk) [PART II. OTHER INFORMATION](index=30&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers additional disclosures including risk factors, equity security sales, and required exhibits [Item 1A. Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) The company outlines significant risks to its business, including the adverse effects of the COVID-19 pandemic and social unrest, dependence on government sales, reliance on limited suppliers, technology upgrades, and privacy concerns - The COVID-19 pandemic is expected to have a material adverse effect, causing delays in deploying new 'go-live' miles, creating funding challenges for customers, disrupting the supply chain, and decreasing employee productivity[169](index=169&type=chunk) - Increasing social unrest and movements like 'Defund the Police' may directly or indirectly affect police agency budgets and funding available to customers[170](index=170&type=chunk)[171](index=171&type=chunk) - The company's business depends on sales to government entities, which have complex, expensive, and time-consuming procurement processes and are subject to budget constraints[172](index=172&type=chunk)[174](index=174&type=chunk) - The company relies on a single contract manufacturer for its proprietary ShotSpotter sensors and a limited number of suppliers for key components, creating supply chain risk[240](index=240&type=chunk) - The company must upgrade its sensors from 3G to LTE technology as carriers discontinue 3G service, estimated to cost between **$4.0 million and $6.0 million** in total[237](index=237&type=chunk) - Perceived privacy concerns regarding government surveillance may deter potential customers from purchasing the company's solutions[239](index=239&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=56&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities during the period, but repurchased 74,520 shares for $1.6 million under its stock repurchase program, with $6.7 million remaining available Issuer Purchases of Equity Securities (Q2 2020) | Period | Total Shares Purchased | Average Price Paid per Share | Value of Shares Remaining for Purchase (in thousands) | | :--- | :--- | :--- | :--- | | April 2020 | — | — | $8,282 | | May 2020 | 74,520 | $21.65 | $6,668 | | June 2020 | — | — | $6,668 | | **Total** | **74,520** | **$21.65** | **$6,668** | [Item 6. Exhibits](index=56&type=section&id=Item%206.%20Exhibits) This section provides an index of the exhibits filed with the Form 10-Q, including certifications by the Principal Executive Officer and Principal Financial Officer, and Inline XBRL documents - This section lists all exhibits filed as part of the quarterly report, including officer certifications and XBRL data files[310](index=310&type=chunk)[313](index=313&type=chunk)
SoundThinking(SSTI) - 2020 Q1 - Earnings Call Presentation
2020-05-20 16:42
1 [o] ShotSpotter' Investor Presentation May 2020 le Cautionary Note Regarding Forward-Looking Statements This presentation 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 company's business plans, the anticipated impact of the COVID-19 pandemic, international expansion, expectations regarding future sales and expenses, our ability to capitalize on market op ...
SoundThinking(SSTI) - 2020 Q1 - Quarterly Report
2020-05-11 19:30
PART I. FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) Unaudited Q1 2020 consolidated financial statements detail a 9% revenue increase and a shift to net income [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The March 31, 2020 balance sheet shows slight decreases in assets and liabilities, with a modest increase in equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $28,677 | $24,550 | | Accounts receivable and contract asset | $7,313 | $13,883 | | **Total Assets** | **$57,842** | **$60,571** | | Deferred revenue, short-term | $24,091 | $26,360 | | **Total Liabilities** | **$29,861** | **$33,320** | | **Total Stockholders' Equity** | **$27,981** | **$27,251** | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2020 revenues grew 9% to $10.5 million, narrowing operating loss and achieving net income Q1 2020 vs. Q1 2019 Statement of Operations (in thousands) | Metric | Three Months Ended Mar 31, 2020 | Three Months Ended Mar 31, 2019 | | :--- | :--- | :--- | | Revenues | $10,458 | $9,593 | | Gross Profit | $6,116 | $5,589 | | Operating Loss | $(23) | $(320) | | Net Income (Loss) | $13 | $(362) | | Net Income (Loss) per Share, Diluted | $0.00 | $(0.03) | [Condensed Consolidated Statements of Comprehensive Loss](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) Q1 2020 comprehensive loss of $214,000 was mainly due to foreign currency translation adjustments Comprehensive Loss (in thousands) | Item | Three Months Ended Mar 31, 2020 | Three Months Ended Mar 31, 2019 | | :--- | :--- | :--- | | Net Income (Loss) | $13 | $(362) | | Change in foreign currency translation adjustment, net | $(227) | $(13) | | **Comprehensive Loss** | **$(214)** | **$(375)** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations decreased to $5.7 million in Q1 2020, with changes in investing and financing activities Cash Flow Summary (in thousands) | Activity | Three Months Ended Mar 31, 2020 | Three Months Ended Mar 31, 2019 | | :--- | :--- | :--- | | Net cash provided by operating activities | $5,726 | $8,905 | | Net cash used in investing activities | $(1,141) | $(930) | | Net cash provided by (used in) financing activities | $(289) | $11,339 | | **Increase in cash** | **$4,296** | **$19,314** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, business model, key risks, performance obligations, and COVID-19's adverse impact - The company's business is providing precision-policing solutions, with its flagship product being ShotSpotter Flex, an outdoor gunshot detection system offered on a SaaS-based subscription model[26](index=26&type=chunk) - Significant customer concentration exists. In Q1 2020, two customers accounted for **19%** and **13%** of total revenues. At March 31, 2020, one customer accounted for **26%** of total accounts receivable[33](index=33&type=chunk) - The company has a single supplier for its proprietary sensors, representing a concentration of supplier risk[34](index=34&type=chunk) - As of March 31, 2020, the company had **$29.3 million** in contractually committed revenues expected to be recognized during the remainder of 2020, but notes considerable uncertainty in timing due to the COVID-19 pandemic[39](index=39&type=chunk) - The COVID-19 pandemic has negatively impacted operations, particularly due to the inability to deploy new 'go-live' miles since mid-March 2020, and is expected to materially adversely impact results for the rest of 2020[75](index=75&type=chunk) - In April 2020, the company entered into a five-year lease for an office in Washington D.C. to establish a presence and a satellite Incident Review Center[77](index=77&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2020 performance, noting revenue growth, reduced 'go-live' miles, and COVID-19's adverse impact [Overview and Key Metrics](index=17&type=section&id=Overview%20and%20Key%20Metrics) The company provides precision-policing solutions, with ShotSpotter Flex dominating revenue and **5** net new 'go-live' square miles in Q1 2020 - As of March 31, 2020, the company had coverage for approximately **760** square miles under contract, with **735** miles having gone live[82](index=82&type=chunk) - Revenues from the ShotSpotter Flex solution represented approximately 97% of total revenues for the three months ended March 31, 2020[86](index=86&type=chunk) Net New 'Go-Live' Square Miles | Period | Miles Added | | :--- | :--- | | Q1 2020 | 5 | | Q1 2019 | 12 | [Impact of COVID-19 on our Business](index=20&type=section&id=Impact%20of%20COVID-19%20on%20our%20Business) Management expects COVID-19 to materially impact business for 2020, causing deployment delays and funding challenges - The company has been unable to deploy new 'go-live' miles since mid-March 2020 due to COVID-19 restrictions[98](index=98&type=chunk) - Expected adverse impacts from COVID-19 include: - Delays in deploying new 'go-live' miles - Customer funding challenges affecting contract renewals and new sales - Possible supply chain disruptions - Decreased productivity from work-from-home policies[99](index=99&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) Q1 2020 revenues grew 9% to $10.5 million, improving operating loss and achieving net income despite modest expense increases Results of Operations Comparison (in thousands) | | 2020 | % of Revenues | 2019 | % of Revenues | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Revenues | $10,458 | 100% | $9,593 | 100% | $865 | 9% | | Gross profit | $6,116 | 58% | $5,589 | 58% | $527 | 9% | | Sales and marketing | $2,516 | 24% | $2,629 | 27% | $(113) | (4)% | | Operating loss | $(23) | — | $(320) | (3%) | $297 | 93% | | Net income (loss) | $13 | — | $(362) | (4%) | $375 | 104% | - The $0.9 million revenue increase was primarily due to new customers and expansions of existing coverage areas, offset by COVID-19 related deployment and renewal delays[123](index=123&type=chunk) [Liquidity and Capital Resources](index=24&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with **$28.7 million** in cash and an undrawn **$10.0 million** credit facility - As of March 31, 2020, the company had **$28.7 million** in cash and cash equivalents and access to an undrawn **$10.0 million** credit facility[131](index=131&type=chunk) - The company did not repurchase any shares in Q1 2020. As of March 31, 2020, **$8.3 million** remained authorized for repurchase under the existing program[54](index=54&type=chunk)[136](index=136&type=chunk) - Net cash from operating activities decreased by $3.2 million year-over-year, primarily due to the timing of contract execution and collections[139](index=139&type=chunk) [Item 3. Qualitative and Quantitative Disclosures About Market Risk](index=26&type=section&id=Item%203.%20Qualitative%20and%20Quantitative%20Disclosures%20About%20Market%20Risk) No material changes occurred in market risk during Q1 2020, with interest and foreign exchange rates remaining primary risks - There were no material changes in the company's market risk during the three months ended March 31, 2020, compared to the disclosures in the 2019 Annual Report on Form 10-K[149](index=149&type=chunk) [Item 4. Controls and Procedures](index=27&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of March 31, 2020, with no material changes in internal control - The CEO and CFO concluded that as of March 31, 2020, the company's disclosure controls and procedures were effective[150](index=150&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[151](index=151&type=chunk) PART II. OTHER INFORMATION [Item 1A. Risk Factors](index=28&type=section&id=Item%201A.%20Risk%20Factors) This section details significant business risks, including COVID-19's adverse effect, government contract dependence, and supply chain issues - The COVID-19 pandemic is identified as a primary risk, expected to materially and adversely impact business for at least the remainder of 2020 due to deployment delays, customer funding challenges, and supply chain disruptions[155](index=155&type=chunk) - The business is highly dependent on sales to government entities, which involves complex, expensive, and time-consuming procurement processes and is subject to budget availability[157](index=157&type=chunk)[159](index=159&type=chunk) - The company relies on a single contract manufacturer for its proprietary ShotSpotter sensors and a limited number of suppliers for components, creating supply chain risk[226](index=226&type=chunk) - The company must upgrade its sensors from 3G to LTE technology, which is estimated to cost between **$4.0 million** and **$6.0 million** in total and will require significant capital expenditures[222](index=222&type=chunk) - Privacy and surveillance concerns, even if based on misconceptions about the technology's capabilities, may deter potential customers and harm business growth[225](index=225&type=chunk) - The company's certificate of incorporation includes an exclusive forum provision, designating the Court of Chancery of Delaware for most stockholder disputes and federal district courts for Securities Act claims[291](index=291&type=chunk)[292](index=292&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=54&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) On March 25, 2020, the company issued **46,939** common shares via a cashless warrant exercise - On March 25, 2020, the company issued **46,939** shares of common stock upon the cashless exercise of a warrant with an exercise price of **$13.20** per share[294](index=294&type=chunk) [Item 6. Exhibits](index=54&type=section&id=Item%206.%20Exhibits) This section provides an index of the exhibits filed with the Form 10-Q, including certifications by the CEO and CFO, and XBRL data files
SoundThinking(SSTI) - 2020 Q1 - Earnings Call Transcript
2020-05-10 13:20
ShotSpotter, Inc. (NASDAQ:SSTI) Q1 2020 Results Earnings Conference Call May 7, 2020 4:30 PM ET Company Participants Ralph Clark - President, Chief Executive Officer Alan Stewart - Chief Financial Officer Conference Call Participants Hilary Cauley - JMP Securities Jeremy Hamblin - Craig-Hallum Matt Pfau - William Blair Tyler Wood - Northland Securities Operator Good afternoon and welcome to ShotSpotter's first quarter 2020 earnings conference call. My name is LaTanya and I will be your operator for today's ...
SoundThinking(SSTI) - 2019 Q4 - Annual Report
2020-03-13 10:44
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38107 ShotSpotter, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 47-0949915 (State or other jurisdiction of inco ...
SoundThinking(SSTI) - 2019 Q4 - Earnings Call Transcript
2020-02-19 03:40
Shotspotter, Inc. (NASDAQ:SSTI) Q4 2019 Earnings Conference Call February 18, 2020 4:30 PM ET Company Participants Ralph Clark - President, CEO & Director Alan Stewart - CFO & Secretary Conference Call Participants Matthew Pfau - William Blair & Company Richard Baldry - Roth Capital Partners Jeremy Hamblin - Craig-Hallum Capital Group Christopher Van Horn - B. Riley FBR, Inc. Joseph Osha - JMP Securities Charles Erlikh - Robert W. Baird & Co. Jeffrey Kessler - Imperial Capital Tyler Wood - Northland Capita ...
Shotspotter (SSTI) Presents At 22nd Annual Needham Growth Conference - Slideshow
2020-01-15 22:48
[o] ShotSpotter' Investor Presentation January 2020 l (E Cautionary Note Regarding Forward-Looking Statements This presentation 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 ShotSpotter, Inc. (the "company") and its overall business, market leadership, total addressable market, expectations regarding product development milestones, future marketing initiatives ...
Shotspotter (SSTI) Investor Presentation - Slideshow
2019-12-13 22:38
Company Overview - ShotSpotter has deployed over 15,000 sensors[6] in approximately 100 municipalities and cities[7], covering around 720 square miles as of September 30, 2019[8] - The company experienced a 43% CAGR in revenue growth from 2015 to 2018[11] - In many urban communities, less than 20% of gunfire incidents are reported to the police by residents[19] Market Opportunity - ShotSpotter estimates a Total Addressable Market (TAM) exceeding $1 billion[29] - The core domestic market opportunity is estimated at $560 million annually, based on 1,400 cities at $400,000 per year[30] - The international market presents a $200 million annual opportunity, targeting 200 cities at $1 million per year[30] - The SecureCampus opportunity is valued at $250 million annually, targeting 5,000 campuses at $50,000 per campus[30] - ShotSpotter Missions offers a $75 million annual opportunity, targeting 1,500 cities at $50,000 per city[30] Financial Performance - The company's revenue model is nearly 100% subscription-based[47] - In 2018, the company spent $0.30 to generate $1 of new annualized revenue[55, 56, 57], while achieving 139% revenue retention[58, 59] - The company's revenue retention rate was 139% in 2018[61]
SoundThinking(SSTI) - 2019 Q3 - Earnings Call Transcript
2019-11-13 06:54
ShotSpotter Inc. (NASDAQ:SSTI) Q3 2019 Earnings Conference Call November 12, 2019 4:30 PM ET Company Participants Ralph Clark - Chief Executive Officer Alan Stewart - Chief Financial Officer Conference Call Participants Matt Pfau - William Blair Chris Van Horn - B. Riley FBR Charlie Erlikh - Baird Reed Motulsky - Imperial Capital Tyler Wood - Northland Securities Matt Galinko - National Securities Operator Good afternoon and welcome to ShotSpotter’s Third Quarter 2019 Earnings Conference Call. My name is Om ...