Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | May 07, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | SSTI | |
Entity Registrant Name | ShotSpotter, Inc. | |
Entity Central Index Key | 0001351636 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity File Number | 001-38107 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 47-0949915 | |
Entity Address, Address Line One | 7979 Gateway Blvd. | |
Entity Address, Address Line Two | Suite 210 | |
Entity Address, City or Town | Newark | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94560 | |
City Area Code | 510 | |
Local Phone Number | 794-3100 | |
Entity Current Reporting Status | Yes | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Shell Company | false | |
Entity Ex Transition Period | true | |
Entity Common Stock, Shares Outstanding | 11,399,300 | |
Entity Interactive Data Current | Yes | |
Title of 12(b) Security | Common stock, par value $0.005 per share | |
Security Exchange Name | NASDAQ | |
Document Quarterly Report | true | |
Document Transition Report | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Current assets | ||
Cash and cash equivalents | $ 28,677 | $ 24,550 |
Accounts receivable and contract asset | 7,313 | 13,883 |
Prepaid expenses and other current assets | 1,564 | 1,764 |
Total current assets | 37,554 | 40,197 |
Property and equipment, net | 16,617 | 16,556 |
Operating lease right-of-use asset | 485 | 556 |
Goodwill | 1,379 | 1,379 |
Intangible assets, net | 244 | 249 |
Other assets | 1,563 | 1,634 |
Total assets | 57,842 | 60,571 |
Current liabilities | ||
Accounts payable | 1,003 | 1,179 |
Deferred revenue, short-term | 24,091 | 26,360 |
Accrued expenses and other current liabilities | 4,033 | 4,885 |
Total current liabilities | 29,127 | 32,424 |
Deferred revenue, long-term | 497 | 598 |
Other liabilities | 237 | 298 |
Total liabilities | 29,861 | 33,320 |
Stockholders' equity | ||
Preferred stock | ||
Common stock | 57 | 57 |
Additional paid-in capital | 123,851 | 122,907 |
Accumulated deficit | (95,566) | (95,579) |
Accumulated other comprehensive loss | (361) | (134) |
Total stockholders' equity | 27,981 | 27,251 |
Total liabilities and stockholders' equity | $ 57,842 | $ 60,571 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Income Statement [Abstract] | ||
Revenues | $ 10,458 | $ 9,593 |
Costs | ||
Cost of revenues | 4,342 | 4,004 |
Total costs | 4,342 | 4,004 |
Gross profit | 6,116 | 5,589 |
Operating expenses | ||
Sales and marketing | 2,516 | 2,629 |
Research and development | 1,352 | 1,294 |
General and administrative | 2,271 | 1,986 |
Total operating expenses | 6,139 | 5,909 |
Operating loss | (23) | (320) |
Other income (expense), net | ||
Interest income, net | 93 | 33 |
Other expense, net | (58) | (57) |
Total other income (expense), net | 35 | (24) |
Income (loss) before income taxes | 12 | (344) |
Provision (benefit) for income taxes | (1) | 18 |
Net income (loss) | $ 13 | $ (362) |
Net income (loss) per share, basic | $ 0 | $ (0.03) |
Net income (loss) per share, diluted | $ 0 | $ (0.03) |
Weighted average shares used in computing net income (loss) per share, basic | 11,337,491 | 11,005,781 |
Weighted average shares used in computing net income (loss) per share, diluted | 11,715,426 | 11,005,781 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net income (loss) | $ 13 | $ (362) |
Other comprehensive loss: | ||
Change in foreign currency translation adjustment, net | (227) | (13) |
Comprehensive loss | $ (214) | $ (375) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss |
Beginning balance at Dec. 31, 2018 | $ 17,147 | $ 55 | $ 114,618 | $ (97,377) | $ (149) |
Beginning balance, Shares at Dec. 31, 2018 | 10,864,722 | ||||
Exercise of stock options | 219 | $ 1 | 218 | ||
Exercise of stock options, Shares | 177,408 | ||||
Issuance of common stock upon secondary offering, net of costs | 10,554 | $ 1 | 10,553 | ||
Issuance of common stock upon secondary offering net of costs, Shares | 250,000 | ||||
Issuance of common stock from RSUs vested, Shares | 28,790 | ||||
Stock-based compensation | 754 | 754 | |||
Other comprehensive loss | (13) | (13) | |||
Net income (loss) | (362) | (362) | |||
Ending balance at Mar. 31, 2019 | 28,299 | $ 57 | 126,143 | (97,739) | (162) |
Ending balance, Shares at Mar. 31, 2019 | 11,320,920 | ||||
Beginning balance at Dec. 31, 2019 | 27,251 | $ 57 | 122,907 | (95,579) | (134) |
Beginning balance, Shares at Dec. 31, 2019 | 11,314,150 | ||||
Exercise of stock options | 57 | 57 | |||
Exercise of stock options, Shares | 17,543 | ||||
Issuance of common stock in connection with exercise of warrants, Shares | 46,939 | ||||
Issuance of common stock from RSUs vested, Shares | 20,297 | ||||
Stock-based compensation | 887 | 887 | |||
Other comprehensive loss | (227) | (227) | |||
Net income (loss) | 13 | 13 | |||
Ending balance at Mar. 31, 2020 | $ 27,981 | $ 57 | $ 123,851 | $ (95,566) | $ (361) |
Ending balance, Shares at Mar. 31, 2020 | 11,398,929 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 13 | $ (362) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation of property and equipment | 1,343 | 1,217 |
Amortization of intangible assets | 24 | 21 |
Stock-based compensation | 887 | 754 |
Loss on disposal of property and equipment | 2 | |
Changes in operating assets and liabilities: | ||
Accounts receivable and contract asset | 6,570 | 7,892 |
Prepaid expenses and other assets | 310 | 195 |
Accounts payable | (562) | (346) |
Accrued expenses and other current liabilities | (491) | (810) |
Deferred revenue | (2,370) | 344 |
Net cash provided by operating activities | 5,726 | 8,905 |
Cash flows from investing activities: | ||
Purchase of property and equipment | (1,117) | (896) |
Investment in intangible and other assets | (24) | (34) |
Net cash used in investing activities | (1,141) | (930) |
Cash flows from financing activities: | ||
Payment of contingent consideration liability | (347) | |
Proceeds from issuance of common stock in public offering | 11,247 | |
Payments of offering costs | (127) | |
Proceeds from exercise of stock options | 58 | 219 |
Net cash provided by (used in) financing activities | (289) | 11,339 |
Increase in cash, cash equivalents and restricted cash | 4,296 | 19,314 |
Effect of exchange rate on cash and cash equivalents | (169) | (8) |
Cash, cash equivalents and restricted cash at beginning of year | 24,550 | 10,278 |
Cash, cash equivalents and restricted cash at end of period | 28,677 | 29,584 |
Supplemental cash flow disclosures: | ||
Offering costs included in accounts payable | 317 | |
Purchases of property and equipment included in accounts payable | $ 623 | $ 626 |
Organization and Description of
Organization and Description of Business | 3 Months Ended |
Mar. 31, 2020 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Organization and Description of Business | Note 1. Organization and Description of Business ShotSpotter, Inc. (the “Company”) provides precision-policing solutions for law enforcement to help deter gun violence and make cities, campuses and facilities safer. The company’s flagship product, ShotSpotter Flex, is the leading outdoor gunshot detection, location and forensic system trusted by over 100 cities. ShotSpotter SecureCampus and ShotSpotter SiteSecure are designed to help law enforcement and security personnel serving universities, corporate campuses and key infrastructure or transportation centers mitigate risk and enhance security by notifying authorities of a potential outdoor gunfire incident. The Company’s principal executive offices are located in Newark, California. The Company has three wholly-owned subsidiaries in South Africa, Columbia and Brazil. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated financial statements include the results of the Company and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated upon consolidation. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss, equity statement and cash flows for the interim periods, but are not necessarily indicative of the results of operations or cash flows to be anticipated for the full year 2020 or any future period. The Company has evaluated subsequent events occurring after the date of the condensed consolidated financial statements for events requiring recording or disclosure in the condensed consolidated financial statements. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its significant estimates, including the valuation of accounts receivable, the lives and realization of tangible and intangible assets, stock-based compensation expense, accounting for revenue recognition, and income taxes. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions it believes to be reasonable under the circumstances. Actual results could differ from those estimates and such differences could be material to the Company’s financial position and results of operations. Concentrations of Risk Credit Risk – Financial instruments that potentially subject the Company to concentration of credit risk consisted primarily of restricted cash, cash and cash equivalents and accounts receivable from trade customers. The Company maintains its cash deposits at three domestic and two international financial institutions. The Company is exposed to credit risk in the event of default by a financial institution to the extent that cash and cash equivalents are in excess of the amount insured by the Federal Deposit Insurance Corporation. The Company generally places its cash and cash equivalents with high-credit quality financial institutions. To date, the Company has not experienced any losses on its cash and cash equivalents. Concentration of Accounts Receivable –At March 31, 2020, one customer accounted for 26% of the Company’s total accounts receivable. At December 31, 2019, one customer accounted for 55% of the Company’s total accounts receivable Concentration of Revenues – For the three months ended March 31, 2020, two customers accounted for 19% and 13% of the Company’s total revenues. For the three months ended March 31, 2019, two customers accounted for 21% and 14% of the Company’s total revenues. Concentration of Suppliers – The Company relies on a limited number of suppliers and contract manufacturers. In particular, a single supplier is currently the sole manufacturer of the Company’s proprietary sensors. Recent Accounting Pronouncements Not Yet Effective In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ ASU”) 2019-12 , Income Taxes (Topic 740), simplifying the accounting for income taxes by removing certain exceptions to the general principles. The guidance will be effective at the beginning of the Company’s first quarter of fiscal 2022. Early adoption of the amendments is permitted. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this ASU replace the incurred loss impairment methodology in current GAAP with a methodology that reflects current expected credit loss (CECL) and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance will be effective at the beginning of the Company’s first quarter of fiscal 2023. Early adoption of the amendments is permitted. The Company is currently evaluating the effect this ASU will have on its condensed consolidated financial statements. |
Revenue Related Disclosures
Revenue Related Disclosures | 3 Months Ended |
Mar. 31, 2020 | |
Revenue From Contract With Customer [Abstract] | |
Revenue Related Disclosures | Note 3. Revenue Related Disclosures As of December 31, 2019, the Company had total short-term and long-term deferred revenue of $27.0 million. During the three months ended March 31, 2020, the Company recognized $9.4 million in revenue from the beginning deferred revenue balance and $1.0 million from new billings and added $8.1 million to total short-term and long-term deferred revenue from new billings. As of December 31, 2018, the Company had total short-term and long-term deferred revenue of $24.2 million. During the three months ended March 31, 2019, the Company recognized $8.4 million in revenue from the beginning deferred revenue balance and $1.1 million from new billings and added $9.8 million to total short-term and long-term deferred revenue from new billings. As of March 31, 2020, the Company has estimated remaining performance obligations for contractually committed revenues of $29.3 million, $21.9 million, $5.5 million, and $0.8 million that will be recognized during the remainder of the year ending December 31, 2020, the years ending December 31, 2021, 2022, and the three-year period from 2023 through 2025, respectively. The timing of revenue recognition includes estimates of go-live dates for contracts not yet live. There is considerable uncertainty in the Company’s estimates of go-live dates as a result of the novel strain of coronavirus (COVID-19) pandemic and resulting disruption in the Company’s ability to deploy new go-live miles. See Note 12. Commitments and Contingencies . Contractually committed revenue includes deferred revenue as of March 31, 2020 and amounts under contract that will be invoiced after March 31, 2020. During the three months ended March 31, 2020, the Company recognized revenues of $10.3 million from customers in the United States, and $0.2 million from a customer in the Bahamas. During the three months ended March 31, 2019, the Company recognized revenues of $9.3 million from customers in the United States and $0.3 million from customers in South Africa and the Bahamas. Accounts Receivable, net and Contract Asset Accounts receivable, net consist of trade accounts receivable from the Company’s customers, net of allowance for doubtful accounts if deemed necessary. Accounts receivable are recorded as the invoiced amount. The Company does not require collateral or other security for accounts receivable. Contract asset consists of revenues recognized in advance of invoicing the customer. The Company periodically evaluates the collectability of its accounts receivable and provides an allowance for potential credit losses based on the Company’s historical experience. At March 31, 2020 and December 31, 2019, the Company did not have an allowance for potential credit losses as there were no estimated credit losses. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 4. Fair Value Measurements In October 2018, upon the acquisition of certain technology, referred to as HunchLab, from Azavea, Inc., the Company recognized a contingent consideration liability classified within Level III of the fair value hierarchy because some of the inputs used in its measurement were neither directly nor indirectly observable. The Company estimates the fair value of the contingent consideration based on management’s estimates of (i) the probability of achieving the relevant revenue targets and (ii) the timing of achieving such targets. During the three months ended March 31, 2020, based on the relevant revenues earned during the first year of the three-year contingent consideration period, the Company paid $0.3 million to Azavea, Inc., resulting in a reduction of the contingent consideration liability. The changes in the fair value of contingent consideration liability for 2020 and 2019 are as follows (in thousands): Three Months Ended March 31, 2020 2019 Balance, beginning of period $ 750 $ 750 Payment of contingent consideration liability (347 ) — Balance, end of period $ 403 $ 750 |
Details of Certain Condensed Co
Details of Certain Condensed Consolidated Balance Sheet Accounts | 3 Months Ended |
Mar. 31, 2020 | |
Balance Sheet Related Disclosures [Abstract] | |
Details of Certain Condensed Consolidated Balance Sheet Accounts | Note 5. Details of Certain Condensed Consolidated Balance Sheet Accounts Prepaid expenses and other current assets (in thousands): March 31, December 31, 2020 2019 Prepaid software and licenses $ 413 $ 321 Prepaid insurance 197 473 Other prepaid expenses 111 94 Deferred commissions 726 753 Other 117 123 $ 1,564 $ 1,764 Other assets (long-term) (in thousands): March 31, December 31, 2020 2019 Deferred commissions $ 1,439 $ 1,579 Other 124 55 $ 1,563 $ 1,634 Accrued expenses and other current liabilities (in thousands): March 31, December 31, 2020 2019 Personnel-related accruals $ 2,410 $ 2,883 Royalties payable 74 115 Professional fees 374 317 Sales/ use tax payable 84 91 Contingent consideration liability 403 750 Operating lease liability 309 302 Other 379 427 $ 4,033 $ 4,885 Other liabilities (long-term) (in thousands): March 31, December 31, 2020 2019 Operating lease liability $ 209 $ 297 Other 28 1 $ 237 $ 298 |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 6. Related Party Transactions During the three months ended March 31, 2020, the Company recognized $0.1 million in revenues from ShotSpotter Labs projects with charitable organizations that have received donations from one of the Company’s directors and one of the Company’s significant stockholders. The Company did not have any revenues from ShotSpotter Labs projects during the three months ended March 31, 2019. |
Capital Stock
Capital Stock | 3 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Capital Stock | Note 7. Capital Stock Common Stock The Company is authorized to issue 500,000,000 shares of common stock, with a par value of $0.005 and each outstanding share of common stock is entitled to one vote. At March 31, 2020 and December 31, 2019, there were 11,398,929 and 11,314,150 shares of common stock issued and outstanding, respectively. Preferred Stock The Company is authorized to issue 20,000,000 shares of preferred stock, with a par value of $0.005. At March 31, 2020, there were no shares of preferred stock issued and outstanding. Stock Repurchase Program In May 2019, the Company announced that its Board of Directors (the “Board”) had approved a stock repurchase program for up to $15 million of the Company’s common stock. The shares may be repurchased from time to time in open market transactions, in privately negotiated transactions or by other methods in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by management in its discretion and will depend on a number of factors, including the market price of the Company’s common stock, general market and economic conditions and applicable legal requirements. The stock repurchase program does not obligate the Company to purchase any particular amount of common stock and may be modified, suspended or discontinued at any time. During the three months ended March 31, 2020 and 2019, the Company did not repurchase any shares. At March 31, 2020, the Company was authorized to repurchase the remaining $8.3 million of its common stock under the stock repurchase program. |
Net Income (Loss) per Share
Net Income (Loss) per Share | 3 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Net Income (Loss) per Share | Note 8. Net Income (Loss) per Share The computation of basic net income (loss) per share is based on the weighted-average number of common stock outstanding during each period. The computation of diluted net income (loss) per share is based on the weighted-average number of shares outstanding during the period plus, when their effect is dilutive, incremental shares consisting of shares subject to stock options, restricted stock units, employee stock purchase plan purchase rights and warrants. The following table summarizes the computation of basic and diluted net income (loss) per share (in thousands, except share and per share data): Three Months Ended March 31, 2020 2019 Numerator: Net income (loss) $ 13 $ (362 ) Denominator: Weighted-average shares outstanding, basic 11,337,491 11,005,781 Dilutive effect of common stock equivalents 377,935 — Weighted-average shares outstanding, diluted 11,715,426 11,005,781 Net income (loss) per share, basic $ 0.00 $ (0.03 ) Net income (loss) per share, diluted $ 0.00 $ (0.03 ) |
Common Stock Warrants
Common Stock Warrants | 3 Months Ended |
Mar. 31, 2020 | |
Warrants And Rights Note Disclosure [Abstract] | |
Common Stock Warrants | Note 9. Common Stock Warrants At March 31, 2020, the Company had the following common stock warrants issued and outstanding (in thousands, except share and per share data): Warrant Class Shares Issuance Date Price per Share Expiration Date Common stock warrant 50,716 February 2014 $ 0.1700 February 2021 |
Equity Incentive Plans
Equity Incentive Plans | 3 Months Ended |
Mar. 31, 2020 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity Incentive Plans | Note 10. Equity Incentive Plans 2017 Equity Incentive Plan In May 2017, the Board and the Company’s stockholders approved the 2017 Equity Incentive Plan (the “2017 Plan”), which became effective in connection with the Company’s initial public offering of common stock (“IPO”) 2005 Stock Plan In February 2005, the Company adopted the 2005 Stock Plan, as amended in January 2010 and November 2012 (the “2005 Plan”). Under the 2005 Plan provisions, the Company was authorized to grant incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock units, and shares of restricted stock. Following the effectiveness of the 2017 Plan in connection with the IPO, no further grants were made under the 2005 Plan. A summary of option activities under the 2005 Plan and 2017 Plan during the three months ended March 31, 2020 is as follows: Number of Options Outstanding Weighted Average Exercise Price Outstanding as of December 31, 2019 617,493 $ 17.13 Granted 226,205 $ 32.26 Exercised (17,543 ) $ 3.29 Canceled (18,212 ) $ 24.12 Outstanding as of March 31, 2020 807,943 $ 21.51 During the three months ended March 31, 2020, the Company granted executive management restricted stock unit (“RSU”) awards totaling 57,048 shares of common stock, with quarterly vesting over the next four years. The weighted average fair value of $34.07 per unit was calculated using the closing stock price on the grant date. The number of shares available for grant under the 2017 Plan was 1,933,302 as of March 31, 2020. 2017 Employee Stock Purchase Plan In May 2017, the Board and the Company’s stockholders adopted the 2017 Employee Stock Purchase Plan (“2017 ESPP”), which became effective in connection with the Company’s IPO. The 2017 ESPP allows eligible employees to purchase shares of the Company’s common stock in an offering at a discount of the then-current trading price, up to the lesser of (1) 85% of the fair market value of the common stock on the first day of the IPO or (2) 85% of the fair market value of the common stock on the purchase date. The 2017 ESPP permits the maximum discounted purchase price permitted under U.S. tax rules, including a “lookback.” There were 200,000 shares of common stock initially reserved for issuance under the 2017 ESPP. In addition, the 2017 ESPP contains an “evergreen” provision which provides for an automatic annual share increase on January 1 of each year, in an amount equal to the lesser of (1) 2% of the total number of shares of common stock outstanding on December 31 st There were no shares issued under the 2017 ESPP during the three months ended March 31, 2020. The number of shares available for grant under the 2017 ESPP was 466,623 as of March 31, 2020. The Company accounts for employee stock purchases made under its 2017 ESPP using the estimate grant date fair value of accounting in accordance with ASC 718, Stock Compensation Total stock-based compensation expense associated with the 2005 Plan, 2017 Plan and 2017 ESPP is recorded in the condensed consolidated statements of operations and was allocated as follows (in thousands): Three Months Ended March 31, 2020 2019 Cost of revenues $ 217 $ 133 Sales and marketing 256 266 Research and development 102 87 General and administrative 312 268 Total $ 887 $ 754 |
Leases
Leases | 3 Months Ended |
Mar. 31, 2020 | |
Lessee Disclosure [Abstract] | |
Leases | Note 11. Leases Operating Lease The Company leases its principal executive offices in Newark, California, under a non-cancelable operating lease that expires in October 2021. This lease does not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the lease does not contain contingent rent provisions or renewal options. Our lease includes both lease (e.g., fixed payments including rent, taxes, and insurance costs) and non-lease components (e.g., common-area or other maintenance costs), which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases. Upon adoption of Topic 842 on January 1, 2019, the Company recognized an operating lease right-of-use asset of $0.9 million and a corresponding lease lability of $0.9 million, using a discount rate of 6%, which reflects the Company’s incremental borrowing rate for a similar asset and similar term as of the date of adoption. The operating lease cost recognized for the three months ended March 31, 2020 and 2019 was $0.1 million for each period. Supplemental information related to the operating lease is as follows (in thousands): As of March 31, 2020 As of December 31, 2019 Assets Operating lease right-of-use asset $ 485 $ 556 Liabilities Lease liability (short-term) (presented within Accrued expenses and other current liabilities) $ 309 $ 302 Lease liability (long-term) (presented within Other liabilities) 209 296 Total operating lease liability $ 518 $ 598 Three months ended March 31, 2020 Three months ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities (presented within Cash flows from operating activities) $ 89 $ 86 Maturities of the lease liability at March 31, 2020 are as follows (in thousands): 2020 (remainder of year) $ 239 2021 304 Total lease payments, undiscounted 543 Less: imputed interest (25 ) Total $ 518 The Company does not have any finance leases. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2020 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 12. Commitments and Contingencies The Company has non-cancelable data center arrangements in which the original term exceeds one year. The following is a schedule of future minimum payments under the non-cancelable data center arrangements at March 31, 2020 (in thousands): Data Center Arrangements 2020 (remainder of year) $ 19 Total $ 19 Contingencies On August 28, 2018, Silvon S. Simmons (the “Plaintiff”) amended a complaint against the City of Rochester, New York and various city employees, filed in the United States District Court, Western District of New York, to add the Company and employees as a defendant. The amended complaint alleges conspiracy to violate plaintiff’s civil rights, denial of the right to a fair trial, and malicious prosecution. The Plaintiff claims that ShotSpotter colluded with the City of Rochester to fabricate and create gunshot alert evidence to secure Plaintiff’s conviction. On the basis of the allegations, the Plaintiff has petitioned for compensatory and punitive damages and other costs and expenses, including attorney’s fees. The Company believes that the Plaintiff’s claims are without merit and are disputing them vigorously. The Company may become subject to legal proceedings, as well as demands and claims that arise in the normal course of business. Such claims, even if not meritorious, could result in the expenditure of significant financial and management resources. The Company makes a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed and adjusted to include the impacts of negotiations, estimated settlements, legal rulings, advice of legal counsel, and other information and events pertaining to a particular matter. An unfavorable outcome on any litigation matters could require payment of substantial damages, or, in connection with any intellectual property infringement claims, could require the Company to pay ongoing royalty payments or could prevent the Company from selling certain of our products. As a result, a settlement of, or an unfavorable outcome on, any of the matters referenced above or other litigation matters could have a material adverse effect on the Company’s business, operating results, financial condition and cash flows. The COVID-19 pandemic has resulted in a substantial curtailment of business activities worldwide and is causing weakened economic conditions, both in the United States and many countries abroad. As part of intensifying efforts to contain the spread of COVID-19, many companies and state, local and foreign governments have imposed restrictions, including shelter-in-place orders and travel bans. These factors have negatively impacted the Company’s operations and results of operations for the first quarter of 2020, in particular due to its inability to deploy new “go-live” miles since mid-March 2020. The Company expects that the evolving COVID-19 pandemic will continue to have an adverse impact on its results of operations, in particular while its sales force remains restricted from traveling due to a travel ban the Company imposed for the safety of its employees. While the ultimate economic impact of the COVID-19 pandemic is highly uncertain, the Company expects that its business and results of operations, including its revenues, earnings and cash flows from operations, will be materially adversely impacted in the second quarter of 2020 and at least the balance of 2020, including as a result of: • Further delays in its ability to deploy new “go-live” miles attributable to company policies designed to protect employee health and government restrictions; • Greater funding challenges for • Possible disruption to the • |
Subsequent Event
Subsequent Event | 3 Months Ended |
Mar. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Event | Note 13. Subsequent Event In April 2020, the Company entered into a non-cancelable five-year lease for an office space in Washington D.C., in connection with establishing a presence in the nation’s capital. The new facilities will also house a satellite Incident Review Center. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated financial statements include the results of the Company and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated upon consolidation. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss, equity statement and cash flows for the interim periods, but are not necessarily indicative of the results of operations or cash flows to be anticipated for the full year 2020 or any future period. The Company has evaluated subsequent events occurring after the date of the condensed consolidated financial statements for events requiring recording or disclosure in the condensed consolidated financial statements. |
Use of Estimates | Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its significant estimates, including the valuation of accounts receivable, the lives and realization of tangible and intangible assets, stock-based compensation expense, accounting for revenue recognition, and income taxes. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions it believes to be reasonable under the circumstances. Actual results could differ from those estimates and such differences could be material to the Company’s financial position and results of operations. |
Concentrations of Risk | Concentrations of Risk Credit Risk – Financial instruments that potentially subject the Company to concentration of credit risk consisted primarily of restricted cash, cash and cash equivalents and accounts receivable from trade customers. The Company maintains its cash deposits at three domestic and two international financial institutions. The Company is exposed to credit risk in the event of default by a financial institution to the extent that cash and cash equivalents are in excess of the amount insured by the Federal Deposit Insurance Corporation. The Company generally places its cash and cash equivalents with high-credit quality financial institutions. To date, the Company has not experienced any losses on its cash and cash equivalents. Concentration of Accounts Receivable –At March 31, 2020, one customer accounted for 26% of the Company’s total accounts receivable. At December 31, 2019, one customer accounted for 55% of the Company’s total accounts receivable Concentration of Revenues – For the three months ended March 31, 2020, two customers accounted for 19% and 13% of the Company’s total revenues. For the three months ended March 31, 2019, two customers accounted for 21% and 14% of the Company’s total revenues. Concentration of Suppliers – The Company relies on a limited number of suppliers and contract manufacturers. In particular, a single supplier is currently the sole manufacturer of the Company’s proprietary sensors. |
Recent Accounting Pronouncements Not Yet Effective | Recent Accounting Pronouncements Not Yet Effective In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ ASU”) 2019-12 , Income Taxes (Topic 740), simplifying the accounting for income taxes by removing certain exceptions to the general principles. The guidance will be effective at the beginning of the Company’s first quarter of fiscal 2022. Early adoption of the amendments is permitted. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this ASU replace the incurred loss impairment methodology in current GAAP with a methodology that reflects current expected credit loss (CECL) and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance will be effective at the beginning of the Company’s first quarter of fiscal 2023. Early adoption of the amendments is permitted. The Company is currently evaluating the effect this ASU will have on its condensed consolidated financial statements. |
Employee Stock Purchase Plan | The Company accounts for employee stock purchases made under its 2017 ESPP using the estimate grant date fair value of accounting in accordance with ASC 718, Stock Compensation |
Revenue Recognition | As of December 31, 2019, the Company had total short-term and long-term deferred revenue of $27.0 million. During the three months ended March 31, 2020, the Company recognized $9.4 million in revenue from the beginning deferred revenue balance and $1.0 million from new billings and added $8.1 million to total short-term and long-term deferred revenue from new billings. As of December 31, 2018, the Company had total short-term and long-term deferred revenue of $24.2 million. During the three months ended March 31, 2019, the Company recognized $8.4 million in revenue from the beginning deferred revenue balance and $1.1 million from new billings and added $9.8 million to total short-term and long-term deferred revenue from new billings. As of March 31, 2020, the Company has estimated remaining performance obligations for contractually committed revenues of $29.3 million, $21.9 million, $5.5 million, and $0.8 million that will be recognized during the remainder of the year ending December 31, 2020, the years ending December 31, 2021, 2022, and the three-year period from 2023 through 2025, respectively. The timing of revenue recognition includes estimates of go-live dates for contracts not yet live. There is considerable uncertainty in the Company’s estimates of go-live dates as a result of the novel strain of coronavirus (COVID-19) pandemic and resulting disruption in the Company’s ability to deploy new go-live miles. See Note 12. Commitments and Contingencies . Contractually committed revenue includes deferred revenue as of March 31, 2020 and amounts under contract that will be invoiced after March 31, 2020. During the three months ended March 31, 2020, the Company recognized revenues of $10.3 million from customers in the United States, and $0.2 million from a customer in the Bahamas. During the three months ended March 31, 2019, the Company recognized revenues of $9.3 million from customers in the United States and $0.3 million from customers in South Africa and the Bahamas. |
Accounts Receivable, net and Contract Asset | Accounts Receivable, net and Contract Asset Accounts receivable, net consist of trade accounts receivable from the Company’s customers, net of allowance for doubtful accounts if deemed necessary. Accounts receivable are recorded as the invoiced amount. The Company does not require collateral or other security for accounts receivable. Contract asset consists of revenues recognized in advance of invoicing the customer. The Company periodically evaluates the collectability of its accounts receivable and provides an allowance for potential credit losses based on the Company’s historical experience. At March 31, 2020 and December 31, 2019, the Company did not have an allowance for potential credit losses as there were no estimated credit losses. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Summary of Changes in Fair Value of Contingent Consideration Liability | The changes in the fair value of contingent consideration liability for 2020 and 2019 are as follows (in thousands): Three Months Ended March 31, 2020 2019 Balance, beginning of period $ 750 $ 750 Payment of contingent consideration liability (347 ) — Balance, end of period $ 403 $ 750 |
Details of Certain Condensed _2
Details of Certain Condensed Consolidated Balance Sheet Accounts (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Balance Sheet Related Disclosures [Abstract] | |
Schedule of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets (in thousands): March 31, December 31, 2020 2019 Prepaid software and licenses $ 413 $ 321 Prepaid insurance 197 473 Other prepaid expenses 111 94 Deferred commissions 726 753 Other 117 123 $ 1,564 $ 1,764 |
Schedule of Other Assets Long-term | Other assets (long-term) (in thousands): March 31, December 31, 2020 2019 Deferred commissions $ 1,439 $ 1,579 Other 124 55 $ 1,563 $ 1,634 |
Schedule of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities (in thousands): March 31, December 31, 2020 2019 Personnel-related accruals $ 2,410 $ 2,883 Royalties payable 74 115 Professional fees 374 317 Sales/ use tax payable 84 91 Contingent consideration liability 403 750 Operating lease liability 309 302 Other 379 427 $ 4,033 $ 4,885 |
Schedule of Other Long-term Liabilities | Other liabilities (long-term) (in thousands): March 31, December 31, 2020 2019 Operating lease liability $ 209 $ 297 Other 28 1 $ 237 $ 298 |
Net Income (Loss) per Share (Ta
Net Income (Loss) per Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Summary of Computation of Basic and Diluted Net Income (Loss) per Share | The following table summarizes the computation of basic and diluted net income (loss) per share (in thousands, except share and per share data): Three Months Ended March 31, 2020 2019 Numerator: Net income (loss) $ 13 $ (362 ) Denominator: Weighted-average shares outstanding, basic 11,337,491 11,005,781 Dilutive effect of common stock equivalents 377,935 — Weighted-average shares outstanding, diluted 11,715,426 11,005,781 Net income (loss) per share, basic $ 0.00 $ (0.03 ) Net income (loss) per share, diluted $ 0.00 $ (0.03 ) |
Common Stock Warrants (Tables)
Common Stock Warrants (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Warrants And Rights Note Disclosure [Abstract] | |
Schedule of Common Stock Warrants Issued and Outstanding | At March 31, 2020, the Company had the following common stock warrants issued and outstanding (in thousands, except share and per share data): Warrant Class Shares Issuance Date Price per Share Expiration Date Common stock warrant 50,716 February 2014 $ 0.1700 February 2021 |
Equity Incentive Plans (Tables)
Equity Incentive Plans (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Schedule of Stock Option Activity | A summary of option activities under the 2005 Plan and 2017 Plan during the three months ended March 31, 2020 is as follows: Number of Options Outstanding Weighted Average Exercise Price Outstanding as of December 31, 2019 617,493 $ 17.13 Granted 226,205 $ 32.26 Exercised (17,543 ) $ 3.29 Canceled (18,212 ) $ 24.12 Outstanding as of March 31, 2020 807,943 $ 21.51 |
Schedule of Stock-Based Compensation Expense Recorded in Condensed Consolidated Statements of Operations | Total stock-based compensation expense associated with the 2005 Plan, 2017 Plan and 2017 ESPP is recorded in the condensed consolidated statements of operations and was allocated as follows (in thousands): Three Months Ended March 31, 2020 2019 Cost of revenues $ 217 $ 133 Sales and marketing 256 266 Research and development 102 87 General and administrative 312 268 Total $ 887 $ 754 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Lessee Disclosure [Abstract] | |
Summary of Supplemental Information Related to Operating Lease | Supplemental information related to the operating lease is as follows (in thousands): As of March 31, 2020 As of December 31, 2019 Assets Operating lease right-of-use asset $ 485 $ 556 Liabilities Lease liability (short-term) (presented within Accrued expenses and other current liabilities) $ 309 $ 302 Lease liability (long-term) (presented within Other liabilities) 209 296 Total operating lease liability $ 518 $ 598 Three months ended March 31, 2020 Three months ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities (presented within Cash flows from operating activities) $ 89 $ 86 |
Summary of Maturity of Operating Lease Liabilities | Maturities of the lease liability at March 31, 2020 are as follows (in thousands): 2020 (remainder of year) $ 239 2021 304 Total lease payments, undiscounted 543 Less: imputed interest (25 ) Total $ 518 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Commitments And Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Payments Under Non-cancelable Data Center Arrangements | The following is a schedule of future minimum payments under the non-cancelable data center arrangements at March 31, 2020 (in thousands): Data Center Arrangements 2020 (remainder of year) $ 19 Total $ 19 |
Organization and Description _2
Organization and Description of Business - Additional Information (Details) | 3 Months Ended |
Mar. 31, 2020CitySubsidiary | |
Business And Nature Of Operations [Line Items] | |
Number of subsidiary | Subsidiary | 3 |
Minimum | |
Business And Nature Of Operations [Line Items] | |
Number of cities in which entity operates | City | 100 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Details) - Customer Concentration Risk - Customer | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Accounts Receivable | ||
Accounting Policies [Line Items] | ||
Number of customers | 1 | 1 |
Revenues | ||
Accounting Policies [Line Items] | ||
Number of customers | 2 | 2 |
Customer One | Accounts Receivable | ||
Accounting Policies [Line Items] | ||
Concentration risk percentage | 26.00% | 55.00% |
Customer One | Revenues | ||
Accounting Policies [Line Items] | ||
Concentration risk percentage | 19.00% | 21.00% |
Customer Two | Revenues | ||
Accounting Policies [Line Items] | ||
Concentration risk percentage | 13.00% | 14.00% |
Revenue Related Disclosures - A
Revenue Related Disclosures - Additional Information (Details) - USD ($) | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disaggregation Of Revenue [Line Items] | ||||
Deferred revenue added from new billings | $ 8,100,000 | $ 9,800,000 | ||
Allowance for potential credit losses | 0 | $ 0 | ||
United States | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenues | 10,300,000 | 9,300,000 | ||
Bahamas | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenues | 200,000 | 300,000 | ||
South Africa | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenues | 300,000 | |||
Adoption of Topic 606 | ||||
Disaggregation Of Revenue [Line Items] | ||||
Deferred revenue | $ 27,000,000 | $ 24,200,000 | ||
Recognition from Beginning Deferred Revenue Balance | ||||
Disaggregation Of Revenue [Line Items] | ||||
Deferred revenue recognized | 9,400,000 | 8,400,000 | ||
Recognition from New Billings of Deferred Revenue | ||||
Disaggregation Of Revenue [Line Items] | ||||
Deferred revenue recognized | $ 1,000,000 | $ 1,100,000 |
Revenue Related Disclosures - E
Revenue Related Disclosures - Estimated Remaining Performance Obligations - Additional Information (Details) $ in Millions | Mar. 31, 2020USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-04-01 | |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Estimated remaining performance obligations for contractually committed revenues | $ 29.3 |
Estimated remaining performance obligations for contractually committed revenues recognition period | 9 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01 | |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Estimated remaining performance obligations for contractually committed revenues | $ 21.9 |
Estimated remaining performance obligations for contractually committed revenues recognition period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01 | |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Estimated remaining performance obligations for contractually committed revenues | $ 5.5 |
Estimated remaining performance obligations for contractually committed revenues recognition period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01 | |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Estimated remaining performance obligations for contractually committed revenues | $ 0.8 |
Estimated remaining performance obligations for contractually committed revenues recognition period | 3 years |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended |
Oct. 03, 2018 | Mar. 31, 2020 | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Payment of contingent consideration liability | $ 347 | |
HunchLab | ||
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Business acquisition date | Oct. 31, 2018 | |
Azavea, Inc | ||
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Payment of contingent consideration liability | $ 300 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Changes in Fair Value of Contingent Consideration Liability (Details) - Level 3 - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Balance, beginning of period | $ 750 | $ 750 |
Payment of contingent consideration liability | (347) | 0 |
Balance, end of period | $ 403 | $ 750 |
Details of Certain Condensed _3
Details of Certain Condensed Consolidated Balance Sheet Accounts - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Prepaid Expense And Other Assets Current [Abstract] | ||
Prepaid software and licenses | $ 413 | $ 321 |
Prepaid insurance | 197 | 473 |
Other prepaid expenses | 111 | 94 |
Deferred commissions | 726 | 753 |
Other | 117 | 123 |
Total | $ 1,564 | $ 1,764 |
Details of Certain Condensed _4
Details of Certain Condensed Consolidated Balance Sheet Accounts - Schedule of Other Assets Long-term (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Other Assets Noncurrent Disclosure [Abstract] | ||
Deferred commissions | $ 1,439 | $ 1,579 |
Other | 124 | 55 |
Total other assets | $ 1,563 | $ 1,634 |
Details of Certain Condensed _5
Details of Certain Condensed Consolidated Balance Sheet Accounts - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Accrued Expenses And Other Current Liabilities [Abstract] | ||
Personnel-related accruals | $ 2,410 | $ 2,883 |
Royalties payable | 74 | 115 |
Professional fees | 374 | 317 |
Sales/ use tax payable | 84 | 91 |
Contingent consideration liability | 403 | 750 |
Operating lease liability | 309 | 302 |
Other | 379 | 427 |
Accrued expenses and other current liabilities | $ 4,033 | $ 4,885 |
Details of Certain Condensed _6
Details of Certain Condensed Consolidated Balance Sheet Accounts - Schedule of Other Long-term Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Other Liabilities Noncurrent [Abstract] | ||
Operating lease liability | $ 209 | $ 297 |
Other | 28 | 1 |
Other liabilities, noncurrent | $ 237 | $ 298 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
ShotSpotter Labs | ||
Related Party Transaction [Line Items] | ||
Revenue from related parties | $ 100,000 | $ 0 |
Capital Stock - Additional Info
Capital Stock - Additional Information (Details) - USD ($) | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | May 31, 2019 | |
Class Of Stock [Line Items] | ||||
Common stock, shares authorized | 500,000,000 | |||
Common stock, par value | $ 0.005 | |||
Common stock, voting rights | each outstanding share of common stock is entitled to one vote | |||
Common stock, shares issued | 11,398,929 | 11,314,150 | ||
Common stock, shares outstanding | 11,398,929 | 11,314,150 | ||
Preferred stock, shares authorized | 20,000,000 | |||
Preferred stock, par value | $ 0.005 | |||
Preferred stock, shares issued | 0 | |||
Preferred stock, shares outstanding | 0 | |||
Repurchase of common stock | 0 | 0 | ||
Amount authorized to repurchase remaining common stock | $ 8,300,000 | |||
Maximum | ||||
Class Of Stock [Line Items] | ||||
Amount approved for common stock repurchase | $ 15,000,000 |
Net Income (Loss) per Share - S
Net Income (Loss) per Share - Summary of Computation of Basic and Diluted Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Numerator: | ||
Net income (loss) | $ 13 | $ (362) |
Denominator: | ||
Weighted-average shares outstanding, basic | 11,337,491 | 11,005,781 |
Dilutive effect of common stock equivalents | 377,935 | |
Weighted-average shares outstanding, diluted | 11,715,426 | 11,005,781 |
Net income (loss) per share, basic | $ 0 | $ (0.03) |
Net income (loss) per share, diluted | $ 0 | $ (0.03) |
Common Stock Warrants - Schedul
Common Stock Warrants - Schedule of Common Stock Warrants Issued and Outstanding (Details) - The February 2014 Common stock warrant | 3 Months Ended |
Mar. 31, 2020$ / sharesshares | |
Class Of Warrant Or Right [Line Items] | |
Shares of warrants issued and outstanding | shares | 50,716 |
Issuance Date | 2014-02 |
Price per Share | $ / shares | $ 0.1700 |
Expiration Date | 2021-02 |
Equity Incentive Plans - Additi
Equity Incentive Plans - Additional Information (Details) - $ / shares | Jan. 01, 2020 | May 31, 2017 | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2017 |
Restricted Stock Unit | Executive Management | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Number of Units, Granted | 57,048 | ||||
Vesting period | 4 years | ||||
Grant Date Fair Value, Granted | $ 34.07 | ||||
2017 Equity Incentive Plan | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Common stock reserved for issuance | 2,413,659 | ||||
Number of shares available for future grant | 900,000 | 1,933,302 | |||
Shares of common stock reserved for issuance, automatic annual increase initiation date | Jan. 1, 2018 | ||||
Shares of common stock reserved for issuance, automatic annual increase end date | Jan. 1, 2027 | ||||
Percentage of total number of shares of common stock outstanding | 5.00% | 5.00% | |||
Increase in common stock reserved for issuance | 565,707 | ||||
2017 Equity Incentive Plan | Shares under 2005 Plan that would have otherwise been returned to 2005 Plan | Maximum | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Common stock reserved for issuance | 1,314,752 | ||||
2017 Employee Stock Purchase Plan | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Common stock reserved for issuance | 200,000 | ||||
Number of shares available for future grant | 466,623 | ||||
Percentage of total number of shares of common stock outstanding | 2.00% | ||||
Increase in common stock reserved for issuance | 150,000 | ||||
Percentage of fair market value of common stock on purchase date of the first day of IPO | 85.00% | ||||
Percentage of fair market value of common stock on purchase date | 85.00% | ||||
Purchase of common stock under ESPP, Description | The 2017 ESPP allows eligible employees to purchase shares of the Company’s common stock in an offering at a discount of the then-current trading price, up to the lesser of (1) 85% of the fair market value of the common stock on the first day of the IPO or (2) 85% of the fair market value of the common stock on the purchase date. The 2017 ESPP permits the maximum discounted purchase price permitted under U.S. tax rules, including a “lookback.” | ||||
Periodic increment of common stock reserved for future issuance | 150,000 | ||||
Shares issued under ESPP | 0 |
Equity Incentive Plans - Schedu
Equity Incentive Plans - Schedule of Stock Option Activity (Details) - 2005 Plan and 2017 Plan | 3 Months Ended |
Mar. 31, 2020$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Number of Options Outstanding, Beginning Balance | shares | 617,493 |
Number of Options Outstanding, Granted | shares | 226,205 |
Number of Options Outstanding, Exercised | shares | (17,543) |
Number of Options Outstanding, Canceled | shares | (18,212) |
Number of Options Outstanding, Ending Balance | shares | 807,943 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |
Weighted Average Exercise Price, Beginning Balance | $ / shares | $ 17.13 |
Weighted Average Exercise Price, Granted | $ / shares | 32.26 |
Weighted Average Exercise Price, Exercised | $ / shares | 3.29 |
Weighted Average Exercise Price, Canceled | $ / shares | 24.12 |
Weighted Average Exercise Price, Ending Balance | $ / shares | $ 21.51 |
Equity Incentive Plans - Sche_2
Equity Incentive Plans - Schedule of Stock-Based Compensation Expense Recorded in Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | $ 887 | $ 754 |
Cost of Revenues | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | 217 | 133 |
Sale and Marketing | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | 256 | 266 |
Research and Development | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | 102 | 87 |
General and Administrative | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | $ 312 | $ 268 |
Leases - Additional Information
Leases - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Jan. 01, 2019 | |
Lessee Disclosure [Abstract] | ||||
Operating lease, description | The Company leases its principal executive offices in Newark, California, under a non-cancelable operating lease that expires in October 2021. | |||
Operating lease, expiration period | 2021-10 | |||
Operating lease right-of-use asset | $ 485 | $ 556 | $ 900 | |
Operating lease liability | 518 | $ 598 | $ 900 | |
Operating lease, discount rate | 6.00% | |||
Operating lease cost recognized | $ 100 | $ 100 |
Leases - Summary of Supplementa
Leases - Summary of Supplemental Information Related to Operating Lease (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Jan. 01, 2019 | |
Assets And Liabilities Lessee [Abstract] | ||||
Operating lease right-of-use asset | $ 485 | $ 556 | $ 900 | |
Lease liability (short-term) (presented within Accrued expenses and other current liabilities) | $ 309 | $ 302 | ||
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] | us-gaap:AccruedLiabilitiesAndOtherLiabilities | us-gaap:AccruedLiabilitiesAndOtherLiabilities | ||
Lease liability (long-term) (presented within Other liabilities) | $ 209 | $ 296 | ||
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesNoncurrent | us-gaap:OtherLiabilitiesNoncurrent | ||
Total operating lease liability | $ 518 | $ 598 | $ 900 | |
Cash paid for amounts included in the measurement of lease liabilities (presented within Cash flows from operating activities) | $ 89 | $ 86 |
Leases - Summary of Maturities
Leases - Summary of Maturities of Lease Liability (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 |
Operating Lease Liabilities Payments Due [Abstract] | |||
2020 (remainder of year) | $ 239 | ||
2021 | 304 | ||
Total lease payments, undiscounted | 543 | ||
Less: imputed interest | (25) | ||
Operating lease liability | $ 518 | $ 598 | $ 900 |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-cancelable Data Center Arrangements (Details) $ in Thousands | Mar. 31, 2020USD ($) |
Operating Leases Future Minimum Payments Due [Abstract] | |
2020 (remainder of year) | $ 19 |
Total | $ 19 |
Subsequent Event - Additional I
Subsequent Event - Additional Information (Details) | Apr. 30, 2020 |
Subsequent Event | |
Subsequent Event [Line Items] | |
Term of non-cancelable lease | 5 years |