SoundThinking(SSTI)2025-05-13 20:10Financial Performance - Revenues increased 12% to $28.3 million, compared to $25.4 million for the same quarter of 2024[6] - Gross profit increased 11% to $16.6 million, representing 59% of revenues, consistent with the same period in 2024[8] - GAAP net loss totaled $1.5 million, an improvement from a net loss of $2.9 million for the same quarter of 2024[9] - Adjusted EBITDA totaled $4.5 million, or 16% of revenues, compared to $3.0 million, or 12% of revenues, for the same period last year[10] - Revenues for Q1 2025 increased to $28,349 million, up 11.5% from $25,410 million in Q1 2024[23] - Gross profit rose to $16,594 million, representing a 11.4% increase from $14,887 million year-over-year[23] - Operating loss improved to $(1,204) million, compared to $(2,615) million in the same quarter last year[23] - Net loss decreased to $(1,484) million, down from $(2,909) million in Q1 2024, resulting in a net loss per share of $(0.12) compared to $(0.23) last year[23] Guidance and Projections - The company reaffirmed its FY 2025 revenue guidance range of $111.0 million to $113.0 million, indicating 10% year-over-year growth at the midpoint[12] - The company reduced its FY 2025 Adjusted EBITDA margin guidance from 21%-23% to 20%-22%[12] - Annual Recurring Revenue (ARR) is expected to increase from $95.6 million at the beginning of 2025 to approximately $110.0 million at the beginning of 2026[12] Shareholder Actions - The company repurchased 33,493 shares of common stock for approximately $0.5 million as part of a $25 million share repurchase program[11] Customer and Market Expansion - The company went "live" in four new cities and expanded with one existing customer, indicating growth in its customer base[6] Investment in Innovation - The company is focusing on advancing its offerings with strategic investments in machine learning and AI technologies[5] - Research and development expenses increased to $4,065 million, compared to $3,560 million in Q1 2024, indicating a focus on innovation[23] Balance Sheet Highlights - Total current assets increased to $44,918 million from $43,528 million as of December 31, 2024[25] - Accounts receivable and contract assets, net rose to $29,491 million, up from $25,464 million[25] - Total liabilities decreased to $62,465 million from $64,394 million at the end of 2024[25] - Stockholders' equity increased to $73,844 million, up from $72,399 million[25] - Total operating expenses slightly increased to $17,798 million from $17,502 million year-over-year[23]