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Sep 30, 2021
ShotSpotter Q3 2021 Earnings Report
Reported a revenue increase of 28% year-over-year, reaching $14.5 million.
Key Takeaways
ShotSpotter reported a successful third quarter with a 28% increase in revenue compared to the same quarter last year. The company experienced a net loss of $949,000, but maintained a strong balance sheet and saw growth in new and expanding deployments.
Revenues increased 28% to $14.5 million from $11.4 million for the same quarter of 2020.
Gross profit increased 25% to $8.0 million from $6.4 million for the same quarter of 2020.
Net loss was $949,000 or $(0.08) per basic and diluted share.
Adjusted EBITDA was $2.2 million, or 15% of revenues.
ShotSpotter
ShotSpotter
Forward Guidance
The company reiterated its full year 2021 revenue guidance to $60 million to $61 million, representing 32% year-over-year growth at the midpoint of the guidance range. With expected increases in legal and strategic communications costs, the company expects to incur a net loss for the year. For fiscal 2022, management currently expects revenues of $71.0 million to $73.0 million, representing an increase of between 17% and 21% compared to projected fiscal 2021 revenues at the midpoint of the 2021 guidance range.