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SSTI

SoundThinking, Inc.

SSTI

SoundThinking, Inc. • NASDAQ
$6.22 ▲ 0.32% (+0.02)
Market Cap $78.85 M
52w High $19.43
52w Low $5.83
Dividend Yield 0%
P/E -7.4
Volume 182.58K
Outstanding Shares 12.68M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $25.1M ▼ $15.69M ▼ $-2.044M ▲ -8.143% ▲ $-0.16 ▲ $259K ▲
Q2-2025 $25.889M ▼ $16.738M ▼ $-3.12M ▼ -12.051% ▼ $-0.25 ▼ $-516K ▼
Q1-2025 $28.349M ▲ $17.798M ▲ $-1.484M ▲ -5.235% ▲ $-0.12 ▲ $1.098M ▲
Q4-2024 $23.411M ▼ $15.705M ▼ $-4.079M ▼ -17.423% ▼ $-0.32 ▼ $-1.309M ▼
Q3-2024 $26.25M $16.263M $-1.44M -5.486% $-0.11 $1.515M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $11.833M ▲ $134.433M ▼ $60.885M ▲ $73.548M ▼
Q2-2025 $8.95M ▼ $134.776M ▼ $60.255M ▼ $74.521M ▲
Q1-2025 $11.657M ▼ $136.309M ▼ $62.465M ▼ $73.844M ▲
Q4-2024 $13.183M ▼ $136.793M ▼ $64.394M ▼ $72.399M ▼
Q3-2024 $15.257M $141.732M $68.406M $73.326M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.044M ▲ $6.234M ▲ $-1.37M ▲ $-2M ▼ $2.883M ▲ $4.864M ▲
Q2-2025 $-3.12M ▼ $-1.283M ▼ $-1.38M ▼ $-46K ▲ $-2.707M ▼ $-2.663M ▼
Q1-2025 $-1.484M ▲ $-141K ▲ $-910K ▲ $-501K ▼ $-1.526M ▲ $-1.051M ▲
Q4-2024 $-4.079M ▼ $-859K ▼ $-1.365M ▼ $249K ▲ $-2.074M ▼ $-2.224M ▼
Q3-2024 $-1.44M $13.688M $-1.319M $-6.946M $5.467M $12.443M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Professional software development services member
Professional software development services member
 $0 ▲$0 ▲$0 ▲$0 ▲
Subscription maintenance and support services Member
Subscription maintenance and support services Member
 $20.00M ▲$30.00M ▲$30.00M ▲$20.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past five years, showing that demand for the company’s public safety software is building over time. Gross profit has kept pace with revenue, suggesting the core business has attractive economics. However, earnings hover around breakeven, with a recent slip back into a small loss, which points to ongoing spending on growth, acquisitions, and product development. Profitability is not yet firmly established, so results can swing meaningfully from year to year.

Balance Sheet

Balance Sheet The balance sheet has grown alongside the business, with total assets and shareholder equity trending upward, which is a healthy sign of expansion. The company carries only a modest amount of debt and maintains positive equity, indicating no obvious signs of financial strain. Cash levels are stable but not large, implying a reasonable but not extensive cushion for shocks or investment. Overall, the balance sheet looks sound but still reflects a relatively small, scaling company rather than a cash‑rich mature player.

Cash Flow

Cash Flow The business generates consistent positive cash flow from operations, which is important given its only marginal profitability on paper. Free cash flow has generally been positive, even after ongoing technology and infrastructure investments. Capital spending has been steady but measured, indicating disciplined investment rather than heavy, risky bets. This pattern suggests the company is largely funding its own growth and does not appear overly dependent on outside financing at this stage.

Competitive Edge

Competitive Edge SoundThinking occupies a specialized niche in public safety technology, anchored by its well‑known gunshot detection system and an increasingly broad software platform. Its integrated SafetySmart suite, long‑standing relationships with law enforcement agencies, and sizable data assets create meaningful switching costs and a defensible competitive moat. Patents and a recognized brand in ShotSpotter help differentiate it from smaller rivals, while the platform approach competes with larger, more generalist software players. Key risks include dependence on public-sector budgets, political and privacy scrutiny, and competition from larger technology and defense companies entering adjacent markets.

Innovation and R&D

Innovation and R&D Innovation is at the center of the company’s strategy, with a strong push into AI‑driven analytics, generative AI interfaces, predictive tools, and weapons detection. The company has built and acquired multiple products—CrimeTracer, CaseBuilder, ResourceRouter, SafePointe, and PlateRanger—to turn point solutions into a unified platform. A meaningful patent portfolio and long operating history in acoustic detection support its technical credibility. The flip side is that sustaining this pace of product development and integration requires ongoing investment and careful execution, which can weigh on margins and create integration risk.

Summary

SoundThinking is a growing, niche software company focused on public safety, with steadily rising revenue and solid underlying economics but only thin and inconsistent profitability so far. Its balance sheet and cash flows look generally healthy for a business of its size, with modest leverage and self‑funded growth. The core strength lies in its integrated platform, deep relationships with law enforcement agencies, proprietary data, and patent‑backed technology, all of which create a meaningful competitive edge. Future value creation will depend on the company’s ability to scale newer offerings, expand into commercial and international markets, manage regulatory and reputational risks, and convert its innovation pipeline into durable, higher‑margin earnings over time.

NEWS

November 12, 2025 · 4:05 PM UTC

SoundThinking, Inc. Reports Third Quarter 2025 Financial Results

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October 17, 2025 · 8:30 AM UTC

SoundThinking Unveils CrimeTracer Gen3: Expanding from Investigations to Agency-Wide Crime Data Solution

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October 16, 2025 · 4:15 PM UTC

SoundThinking Announces Revised Date for Third Quarter 2025 Financial Results Date and Conference Call

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October 15, 2025 · 4:15 PM UTC

SoundThinking Announces Third Quarter 2025 Financial Results Date and Conference Call; Participation in Upcoming Investor Conference

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