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Mar 31, 2020
ShotSpotter Q1 2020 Earnings Report
Reported solid adjusted EBITDA growth and GAAP profitability, driven by a 9% year-over-year increase in revenue. Maintained a strong liquidity position with $28.7 million in cash.
Key Takeaways
ShotSpotter reported a 9% increase in revenue to $10.5 million for Q1 2020, with net income of $13,000 or $0.00 per share. The company's cash position improved to $28.7 million. They updated revenue guidance for fiscal 2020 to a range of $43 million to $46 million, expecting to remain GAAP profitable for the full year.
Revenues increased 9% to $10.5 million from $9.6 million for the first quarter of 2019.
Gross profit was 58%, consistent with the first quarter of 2019.
Net income totaled $13,000 or $0.00 per share, improved from a net loss of $0.4 million in the first quarter of 2019.
Cash and cash equivalents at the end of the quarter were $28.7 million, up from $24.6 million at the end of the fourth quarter of 2019.
ShotSpotter
ShotSpotter
Forward Guidance
The company updated its revenue range for the full fiscal year of 2020 to reflect its current anticipated impact of the COVID-19 pandemic on its operations. The company now forecasts revenue to range between $43 million and $46 million, representing an increase of 9% at the midpoint compared to fiscal year 2019. The company continues to expect to remain GAAP profitable on an annual basis.