SoundThinking reports Q4 adjusted EPS (10c), consensus 5c

Reports Q4 revenue $26.05M, consensus $26.3M. “Our record quarterly revenue in the fourth quarter capped a successful year for SoundThinking,” said President and CEO Ralph Clark. “We added eight new cities under contract in the fourth quarter and deployed 155 new go-live miles in 2023, which demonstrates the robust expansion of our customer base across both the domestic and international markets. Our customers continue to recognize the force multiplier effect SoundThinking’s platform provides, reflected by our 107% revenue retention rate and world-class net promoter score above the 60% level. Furthermore, we are pleased to have reached an $8.6 million extension agreement with the City of Chicago to keep ShotSpotter operational in Chicago through November 2024. We believe this represents tacit acknowledgement of the importance that ShotSpotter has in safeguarding the city’s communities, particularly during the historically turbulent summer months and the upcoming Democratic National Convention. While the Chicago ShotSpotter contract extension expires in Q4’24, we will continue to advocate for the value our solution provides along with the strong support that has been garnered from Chicago residents, the Chicago Police Department and the vast majority of the city council for Mayor Johnson’s consideration.”