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Jun 30, 2022
ShotSpotter Q2 2022 Earnings Report
Reported a revenue increase of 37% year-over-year, reaching $20.0 million. GAAP net income was $3.0 million, or $0.24 per diluted share.
Key Takeaways
ShotSpotter reported strong second quarter 2022 financial results, with revenues increasing by 37% year-over-year to $20.0 million. The company's GAAP net income was $3.0 million, and Adjusted EBITDA totaled $4.1 million. ShotSpotter reiterated its full year 2022 revenue guidance range of $81 million to $83 million and Adjusted EBITDA margin guidance range of 19% to 21%.
Revenues increased 37% to $20.0 million from $14.6 million for the same quarter of 2021.
Gross profit increased 40% to $11.6 million (58% of revenues) from $8.3 million (57% of revenues) for the same quarter of 2021.
GAAP net income was $3.0 million, compared to GAAP net loss of $250,000 for the same quarter of 2021.
Adjusted EBITDA increased 39% to $4.1 million (20% of revenues), compared to $2.9 million (20% of revenues) for the same quarter of 2021.
ShotSpotter
ShotSpotter
Forward Guidance
The company reiterated its full year 2022 revenue guidance of $81.0 million to $83.0 million, representing approximately 41% year-over-year growth at the midpoint compared to 2021, and full year 2022 Adjusted EBITDA margin guidance of 19% to 21%.