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Sep 30, 2023
ShotSpotter Q3 2023 Earnings Report
SoundThinking reported third quarter results with record revenues and increased gross profit.
Key Takeaways
SoundThinking, Inc. reported a strong third quarter with a 28% increase in revenue to $24.0 million and a 33% increase in gross profit to $13.8 million. The company reaffirmed its full year 2023 revenue guidance of $92 million to $94 million and Adjusted EBITDA margin guidance of 16% to 18%.
Revenues increased 28% to $24.0 million compared to the same quarter of 2022.
Gross profit increased 33% to $13.8 million, representing 57% of revenues.
GAAP net loss totaled $1.9 million, compared to GAAP net income of $4.0 million for the same quarter of 2022.
Adjusted EBITDA was $4.3 million, representing 18% of revenues.
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 retains its expectation for Adjusted EBITDA to be approximately 16% to 18% of revenue in 2023.