SoundThinking(SSTI)2025-02-25 21:10Revenue Performance - Full Year 2024 revenues increased 10% to a record 92.7 million in 2023[6] - Fourth quarter 2024 revenues decreased 10% to 26.0 million for the same quarter of 2023[6] - For the three months ended December 31, 2024, SoundThinking reported revenues of 26,045,000 in the same period of 2023[31] Profitability and Loss - GAAP net loss for the full year 2024 totaled 2.7 million in 2023[15] - The net loss for the year ended December 31, 2024, was 2,718,000 in 2023, reflecting a significant increase in losses[31] - Adjusted EBITDA for the full year 2024 totaled 14.3 million in 2023[15] - Adjusted EBITDA for the year ended December 31, 2024, was 14,349,000 in 2023, indicating stable operational performance despite net losses[31] Annual Recurring Revenue (ARR) - Annual recurring revenue (ARR) starting January 1, 2025 was 110.0 million at the beginning of 2026[16] - The company’s Annual Recurring Revenue (ARR) is expected to increase, driven by contract renewals and new customer acquisitions[27] Financial Guidance - The company raised its FY 2025 revenue guidance range to 113.0 million, representing 10% year-over-year growth at the midpoint[16] - Adjusted EBITDA margin guidance for FY 2025 increased to 21% to 23%[16] Operating Expenses - Total operating expenses for the full year 2024 increased 22% to 1.00 of new annualized contract value is used to measure the efficiency of customer acquisition efforts[26] Strategic Initiatives - The company went "live" with ShotSpotter in 20 new cities and 5 universities in 2024[7] - The company is focused on integrating AI-driven capabilities to enhance operational momentum and revenue growth in 2025 and beyond[27] - The company plans to continue innovating and executing against its strategic and financial growth priorities to deliver value to stakeholders[27] Balance Sheet Highlights - Total current assets increased to 40,305 million in 2023, representing a growth of 5.5%[33] - Cash and cash equivalents rose significantly to 5,703 million in 2023, marking an increase of 131.5%[33] - Total liabilities increased slightly to 63,951 million in 2023, reflecting a growth of 0.7%[33] - Total stockholders' equity decreased to 74,757 million in 2023, a decline of 3.2%[33] - Accounts receivable and contract asset decreased to 30,700 million in 2023, a reduction of 17.9%[33] - Deferred revenue, short-term decreased to 41,265 million in 2023, a decline of 6.8%[33] - Additional paid-in capital increased to 170,139 million in 2023, an increase of 4.0%[33] - Accumulated deficit increased to (95,118) million in 2023, reflecting a worsening of 9.2%[33] - Property and equipment, net decreased to 21,028 million in 2023, a decline of 4.3%[33] - Total assets decreased to 138,708 million in 2023, a decline of 1.3%[33]