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Mar 31, 2024
ShotSpotter Q1 2024 Earnings Report
Reported a revenue increase of 23% to $25.4 million, driven by new and expanding customer subscriptions, and contributions from SafePointe.
Key Takeaways
SoundThinking, Inc. reported a strong first quarter with a 23% increase in revenue to $25.4 million and a 32% increase in gross profit. The company reaffirmed its full-year 2024 revenue guidance and Adjusted EBITDA margin guidance.
Revenues increased 23% to $25.4 million compared to the same quarter of 2023.
Gross profit increased 32% to $14.9 million, representing 59% of revenues.
GAAP net loss totaled $2.9 million.
Adjusted EBITDA totaled $3.0 million, which is 12% of revenues.
ShotSpotter
ShotSpotter
Forward Guidance
The company reaffirmed its full-year 2024 revenue guidance range of $104.0 million to $106.0 million, representing 13% year-over-year growth at the midpoint. The company also expects Adjusted EBITDA margins of 18% to 20% for the full year 2024.