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Mar 31, 2021
ShotSpotter Q1 2021 Earnings Report
ShotSpotter reported record revenues and GAAP profitability.
Key Takeaways
ShotSpotter, Inc. reported a 44% year-over-year increase in revenues, reaching $15.0 million in the first quarter of 2021. The company also saw increases in gross profit and net income, and provided full year 2021 revenue guidance.
Revenues increased 44% to $15.0 million from $10.5 million for the first quarter of 2020.
Gross profit increased 42% to $8.7 million from $6.1 million for the first quarter of 2020.
Net income increased to $79,000 from $13,000 for the first quarter of 2020.
Maintained a strong balance sheet with $10.9 million in cash and cash equivalents.
ShotSpotter
ShotSpotter
Forward Guidance
The company increased its full year 2021 revenue guidance to $60 million to $61 million and expects to remain GAAP profitable for the full year of 2021.