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Sep 30, 2022
ShotSpotter Q3 2022 Earnings Report
Reported strong financial results with revenue growth and profitability.
Key Takeaways
ShotSpotter reported a 29% increase in revenue to $18.8 million and a GAAP net income of $4.0 million for the third quarter of 2022. The company modified its FY 2022 revenue guidance range to $81 million to $82 million and introduced FY 2023 revenue guidance range of $94 million to $96 million.
Revenues increased 29% to $18.8 million from $14.5 million for the same quarter of 2021.
Gross profit increased 28% to $10.3 million from $8.0 million for the same quarter of 2021.
GAAP net income was $4.0 million, compared to GAAP net loss of $949,000 for the same quarter of 2021.
Adjusted EBITDA increased 37% to $3.1 million, compared to $2.2 million for the same quarter of 2021.
ShotSpotter
ShotSpotter
Forward Guidance
The company narrowed its full year 2022 revenue guidance range to $81 million to $82 million and introduced its full year 2023 revenue guidance of $94 million to $96 million.