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Sep 30, 2020
ShotSpotter Q3 2020 Earnings Report
Reported record revenues and GAAP profitability, driven by a 14% year-over-year increase in revenues.
Key Takeaways
ShotSpotter reported a strong third quarter with a 14% increase in revenues to $11.4 million, a 27% increase in net income to $566,000, and a 44% increase in adjusted EBITDA. The company maintained a solid balance sheet with $28.7 million in cash and cash equivalents.
Revenues increased 14% to $11.4 million year-over-year.
Gross profit increased 8% to $6.4 million, representing 57% of revenues.
Net income increased 27% to $566,000.
Adjusted EBITDA increased 44% to $3.3 million.
ShotSpotter
ShotSpotter
Forward Guidance
The company narrowed and slightly increased its full-year revenue outlook to $44.5 million to $45.0 million, representing approximately 10% year-over-year revenue growth at the midpoint. The company expects to remain GAAP profitable for the remainder of 2020.