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Dec 31, 2023
ShotSpotter Q4 2023 Earnings Report
Reported record quarterly revenues with a 24% increase, and net income totaled $3.6 million.
Key Takeaways
SoundThinking, Inc. reported a successful Q4 2023 with record revenues of $26.0 million, a 24% increase compared to the same quarter in 2022. The company's GAAP net income was $3.6 million, a significant improvement from the net loss of $1.0 million in the same period last year.
Revenues increased 24% to $26.0 million, marking the highest quarterly revenues in company history.
Gross profit increased 26% to $15.0 million (58% of revenues).
GAAP net income totaled $3.6 million, compared to a net loss of $1.0 million in the same quarter of 2022.
Adjusted EBITDA totaled $4.8 million (18% of revenues), an improvement compared to $4.3 million (20% of revenues) for the same quarter of 2022.
ShotSpotter
ShotSpotter
Forward Guidance
The company introduced its full year 2024 revenue guidance range of $104.0 million to $106.0 million, representing 13% year-over-year growth at the midpoint. The company also expects Adjusted EBITDA margins of 18% to 20% for the full year 2024.