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Jun 30, 2023
ShotSpotter Q2 2023 Earnings Report
SoundThinking reported second quarter results, which included revenue growth and customer expansion.
Key Takeaways
SoundThinking, Inc. reported a revenue of $22.1 million for the second quarter of 2023, compared to $20.0 million for the same quarter of 2022. The company experienced a GAAP net loss of $2.7 million, compared to a net income of $3.0 million for the same period in 2022. Adjusted EBITDA was $2.4 million, compared to $4.1 million in the prior year.
Revenues were $22.1 million, compared to $20.0 million for the same quarter of 2022.
Gross profit was $12.7 million (57% of revenues), compared to $11.6 million (58% of revenues) for the same quarter of 2022.
GAAP net loss totaled $2.7 million, compared to GAAP net income of $3.0 million for the same quarter of 2022.
Adjusted EBITDA was $2.4 million (11% of revenues), compared to $4.1 million (20% of revenues) for the same quarter of 2022.
ShotSpotter
ShotSpotter
Forward Guidance
The company reaffirms its full year 2023 revenue guidance range of $92 million to $94 million, representing approximately 15% year-over-year growth at the midpoint compared to 2022. Management reduces its expectation for Adjusted EBITDA to be approximately 16% to 18% of forecasted revenue in 2023.