Soundthinking, Inc. ( (SSTI) ) has released its Q4 earnings. Here is a breakdown of the information Soundthinking, Inc. presented to its investors.
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SoundThinking, Inc. is a leading public safety technology company that provides AI- and data-driven solutions for law enforcement and security professionals, with a focus on enhancing public safety outcomes through its SafetySmart platform.
SoundThinking, Inc. reported a record revenue of $102.0 million for the full year 2024, marking a 10% increase from the previous year. However, the fourth quarter saw a revenue decline due to delays in contract renewals, impacting financial results.
Key financial highlights for 2024 include a gross profit increase to $57.9 million, despite a net loss of $9.2 million. The company also reported a strong annual recurring revenue of $95.6 million, with significant expansions in its ShotSpotter deployments across new cities and universities.
Looking ahead, SoundThinking has raised its 2025 revenue guidance to $111.0 million to $113.0 million, reflecting a 10% growth at the midpoint. The company plans to integrate AI-driven capabilities to enhance its platform, aiming for continued growth and value delivery to stakeholders.