Revenue Performance - Revenues for the three months ended September 30, 2024, were $26.3 million, a 10% increase from $24.0 million in the same period of 2023[87]. - For the nine months ended September 30, 2024, revenues reached $78.6 million, an 18% increase from $66.7 million in 2023[88]. - Revenues generated within the United States accounted for 99% of total revenues for both Q3 2024 and Q3 2023[89]. - Revenues for the three months ended September 30, 2024, increased by $2.3 million to $26.25 million, a 9% increase compared to $23.98 million in the same period of 2023[120]. - Revenues increased by $11.9 million to $78.6 million for the nine months ended September 30, 2024, representing an 18% growth compared to $66.7 million in 2023[127]. Revenue Sources - ShotSpotter revenues represented approximately 65% of total revenues for Q3 2024, down from 69% in Q3 2023[87]. - The City of New York and the City of Chicago accounted for 23% and 11% of total revenues, respectively, for the three months ended September 30, 2024[87]. Profitability and Loss - The company reported a net loss of $1.4 million for the three months ended September 30, 2024, compared to a net loss of $1.9 million in the same period of 2023[91]. - The net loss for the three months ended September 30, 2024, was $1.44 million, a reduction of $0.43 million compared to a net loss of $1.87 million in the same period of 2023[120]. - Operating loss improved by $1.6 million, decreasing to $4.1 million from $5.6 million, reflecting a 28% reduction in losses[127]. - Net loss narrowed by $1.3 million to $5.1 million, representing 6% of revenues, compared to 10% in the prior year[127]. Expenses - Cost of revenues rose by $0.8 million to $10.98 million, primarily due to increased product costs associated with a growing customer base[122]. - Operating expenses totaled $16.26 million, an increase of $1.03 million, with sales and marketing expenses rising by $0.89 million due to higher personnel costs[120][125]. - Research and development expenses increased by $0.2 million, driven by an increase in headcount to support product development initiatives[123]. - Total operating expenses rose by $6.9 million to $50.2 million, accounting for 64% of revenues, compared to 65% in 2023[127]. - Sales and marketing expenses increased by $2.0 million to $21.6 million, primarily due to higher personnel costs[130]. - Research and development expenses grew by $1.5 million to $10.4 million, largely attributed to increased headcount from the SafePointe acquisition[131]. Cash Flow and Financial Position - Cash provided by operating activities increased significantly by $12.4 million to $23.1 million, driven by a $13.4 million increase in deferred revenue[146][148]. - As of September 30, 2024, the company had cash and cash equivalents of $15.3 million and accounts receivable of $25.9 million, with an available credit facility of $21.0 million[137]. Market Presence and Expansion - The number of net new "go-live" cities and universities was 3 for Q3 2024, down from 7 in Q3 2023[96]. - ShotSpotter went live in four new cities and one university, expanding its presence and services during the quarter[121]. - The company plans to expand its international presence and has secured a three-year agreement to double ShotSpotter coverage in Montevideo, Uruguay[94]. - As of September 30, 2024, ShotSpotter had coverage areas under contract for 1,193 square miles, with 1,187 square miles live[82]. - The company had 218 SafePointe lanes under contract as of September 30, 2024[82]. Risk Factors - No material changes in market risk were reported during the nine months ended September 30, 2024, compared to the previous disclosures[156]. - Market risk exposure is primarily due to fluctuations in interest rates, foreign exchange rates, and inflation[155]. Share Repurchase - The company repurchased 418,940 shares at an average price of $14.31 per share for approximately $6.0 million under the stock repurchase program[143].

Financial Data and Key Metrics Changes - The company reported revenues of $26.3 million for Q3 2024, a 10% increase from $24 million in Q3 2023 [30] - Year-to-date revenues reached $78.6 million, representing an 18% increase from the same period last year [7] - Gross profit for Q3 2024 was $15.2 million, or 58% of revenue, compared to $13.8 million, or 57% of revenue in the prior year [31] - Adjusted EBITDA increased approximately 5% to $4.5 million from $4.3 million in Q3 2023 [32] - GAAP net loss was approximately $1.4 million, or a loss of $0.11 per share, compared to a net loss of $1.9 million, or a loss of $0.15 per share in the prior year [36] Business Line Data and Key Metrics Changes - The SafetySmart platform now includes six data-driven tools, with significant growth in CaseBuilder's subscription-based revenue, which grew approximately 1,000% year-over-year [15][10] - ShotSpotter went live in four new cities and expanded in eight existing cities during Q3 [11] - ResourceRouter is performing above expectations, with five implementations planned for Q4 [13] - The PlateRanger solution targets a $2.5 billion total addressable market (TAM) growing at a 15% CAGR [14] Market Data and Key Metrics Changes - The company is on track to exceed 100 new ShotSpotter go-live miles this year, including five new cities and nine expansion projects [12] - The Chicago ShotSpotter service concluded in late September, with a formal contract termination expected [21] - A University of Chicago Crime Lab study estimated that ShotSpotter deployment saves approximately 85 lives per year [23] Company Strategy and Development Direction - The company is focused on expanding its SafetySmart platform and enhancing public safety technology solutions [8] - Strategic partnerships, such as with Rekor Systems, are key to integrating new technologies into the SafetySmart platform [14] - The company aims to maintain a diversified and profitable growth trajectory into 2025 and beyond [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining full-year revenue guidance of $104 million to $106 million despite the loss of the Chicago contract [39] - The company anticipates revenue growth in 2025 to a range of $107 million to $109 million, even with the expected loss from the Chicago contract [40] - Management highlighted the importance of helping law enforcement agencies communicate the efficacy of their solutions to secure ongoing support [58][60] Other Important Information - The company ended Q3 2024 with $15.3 million in cash and cash equivalents, up from $9.8 million at the end of Q2 2024 [38] - Deferred revenue at the end of the quarter was $49.5 million, consistent with the previous quarter [37] Q&A Session Summary Question: Specificity of the Chicago RFI and competition - Management noted familiarity with the RFI requirements and expressed encouragement about the opportunity [42] Question: Pipeline and feedback on SafePointe upgrade - The pipeline for SafePointe is strong, with several deals expected to close in Q4 [43] Question: 2025 guidance and go-lives for ShotSpotter and SafePointe - Management expects ShotSpotter to exceed 100 miles and noted strong bookings for SafePointe [44][45] Question: Chicago contract impact on 2024 revenue - The expected revenue contribution from the Chicago contract in 2024 is about $9.2 million [49] Question: Sales cycle elongation for ShotSpotter - Sales cycles for ShotSpotter remain stable at 12 to 18 months, while SafePointe has shorter cycles [50] Question: Revenue recognition timing for SafePointe - SafePointe contracts can go live in as little as six to seven weeks after signing [54] Question: Strategic rationale for product efficacy study - The study aims to help law enforcement agencies communicate the value of ShotSpotter technology [58][60]

Company Performance - SoundThinking (SSTI) reported a quarterly loss of $0.11 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.08, marking an earnings surprise of -37.50% [1] - The company posted revenues of $26.25 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.19% and showing an increase from $23.98 million in the same quarter last year [2] - Over the last four quarters, SoundThinking has surpassed consensus EPS estimates just once, but has topped consensus revenue estimates three times [2] Stock Performance - SoundThinking shares have declined approximately 51.1% since the beginning of the year, contrasting with the S&P 500's gain of 25.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.02 on revenues of $26.7 million, and for the current fiscal year, it is -$0.38 on revenues of $105.24 million [7] Industry Outlook - The Security and Safety Services industry, to which SoundThinking belongs, is currently ranked in the bottom 46% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact SoundThinking's stock performance [5]

FREMONT, Calif., Oct. 22, 2024 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, today announced the date for the release of its third quarter 2024 earnings and its participation in upcoming investor conferences. Third Quarter 2024 Earnings Date SoundThinking will hold a conference call on Tuesday, November 12, 2024 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the third quarter ended September 30, 2024. Financial re ...

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 Orienta ...

Core Insights - The article emphasizes the importance of analyzing a wide range of stocks to identify interesting investment opportunities, inspired by Peter Lynch's philosophy on stock selection [1]. Group 1 - The author is focused on analyzing numerous companies and industries to build expertise and uncover potential investment opportunities [1]. - A quote from Peter Lynch is highlighted, suggesting that the more companies one examines, the higher the likelihood of finding valuable investment options [1].

Summary: SoundThinking today announced the next generation of SafePointe, its advanced weapons detection solution, featuring new AI-driven software and advanced hardware to improve threat detection in high-traffic areas. FREMONT, Calif., Sept. 23, 2024 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, today announced the availability of the next generation of SafePointe®, which is a major upgrade of its advanced weapons detection system. This release feature ...

Summary: SoundThinking, Inc. today announced recently published independent research that demonstrates benefits of ShotSpotter in Winston-Salem, including lives saved, reduction in violent crime, enhanced evidence collection and an estimated return of $26 for every dollar spent. FREMONT, Calif., Aug. 28, 2024 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, today delivered a report to Winston-Salem officials outlining the welldocumented success of the city' ...

FREMONT, Calif., Aug. 14, 2024 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, is confirmed to present at the 2024 Annual Gateway Conference, which is being held September 4-5, at the Four Seasons Hotel in San Francisco, CA. SoundThinking's management team is scheduled to present on Thursday, September 5th at 10:30 a.m. Pacific Time (PT). The presentation will be webcast live and available for replay here. In addition to the presentation, SoundThinking exe ...

SoundThinking (SSTI) closed the last trading session at $14.60, gaining 18.4% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $22.64 indicates a 55.1% upside potential. The mean estimate comprises seven short-term price targets with a standard deviation of $4.25. While the lowest estimate of $17.50 indicates a 19.9% increase from the current price level, the most optimistic analyst ...