Earnings call transcript Q2 2023

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon, and welcome to SoundThinking’s Second Quarter 2023 Conference Call. My name is Ina, and I will be your operator for today’s call.

Joining us are SoundThinking CEO, Ralph Clark; and CFO, Alan Stewart. Please note that certain information discussed on the call today will include forward-looking statements about future events and SoundThinking’s business strategy and future financial and operating performance.

These forward-looking statements are only predictions and are subject to risks and uncertainties and assumptions that are difficult to predict and may cause the actual results to differ materially from those stated or implied by those statements. and registration discussed statement risks filings, SoundThinking’s these its including on of assumptions in are SEC Certain Form S-X. reflect of date call. August to reflect statements of of revise or undertakes this forward-looking management’s or forward-looking and to estimates These statements any predictions no the obligation date XXXX, circumstances this X, broadcast, events update live and SoundThinking beliefs, as after the

that link this available Finally, in call be remind I would section made via like recorded website Relations for Investor everyone replay Company’s at available to the and the will of ir.soundthinking.com.

would turn like Now, over I Clark. to to Ralph SoundThinking’s CEO, proceed. call please Sir, the

Ralph Clark

happy thank conference for and our Alan to afternoon. our second questions. be give you take call. And your After quarter XXXX I Good we’ll joining views,

of expanded into our our I vision XXXX with our However, first I our want overall, new you identity that SoundThinking. specifics into before platform QX settling get the share of to corporate and company is performance,

toward We’re of narrative. well on our and executing on growth journey our promising impact phase next the way

the challenges And more gap become safety them resources and we equitable even continue opportunity on efficient, better committed communities with public in which the face they purpose the in believe fundamental be in partnering effective and bullish current with help closing digital the serve. to we increased is tremendous law in connecting transformation, in profession enforcement them to and the law limited improving they their that scrutiny, our with worldwide. we to and We enforcement communities exists have are

performance. financial to Turning

XXXX. QX EBITDA of million compared $X.X with mostly our were million or $XX QX of million. $X.X revenues Adjusted with XXXX was expectations QX of $XX.X to XX% for to million compared revenue line revenues XXXX or XX% revenues Our in

few and address headcount and along in personnel-related more costs our quarter Alan increased associated in As other this marketing and launch expenses. with onetime expenses detail, sales increased a included below-the-line in with will investment rebranding

along city activity captures phenomenal and were X of These university and with to, captures Florida. a X had another new customer but new new go-live quarter. quarter city Pennsylvania, of Beach expansions Lauderhill, Deerfield included, We limited not this with university and X Erie, expansion

took expansion Virginia and also Beach. Detroit, live in miles We material Cleveland

potential We go-live to and QX. in been go-live can taken we next during could upside XX what days, be ShotSpotter slated of put that are than that combined has near-term XXX XXX book we our of project with current to opportunities confident in first live in north additional staff to booked, this at and in miles our momentum XX QX sales half to year. contracted is already with a live be also pipeline the it go year, this There us projects forecast miles this the to extent can the deployed

happy with attrition. also we I’m quite report to zero that have another quarter

believe risk a me the on extension We this are update beyond had budget XXXX funding formal moves the Let Mayor’s by previously including Recent and that previously appropriation the brief public in been factored. have statements potential provide actions Chicago. of the we contract and and executed office, us appropriately where cancellation constructive. we

council and strong police and with very-focused upon value and build support. investigations, demonstrating ShotSpotter working We’re to PD enhancing continue articulating saving in on we the on of still as lives department Chicago city downstream

a on Chicago in stronger a led that ShotSpotter local finding and X a and In in responders. hospital victim response Chicago who was call. alert no the this quickly brave a.m. past news critical rushed fact, condition. gunshot PD wound There reported just XX-year-old corresponding weekend, was of PD to is that alert the today this likely It child alive due XXX first is quick ShotSpotter

campaign outreach we’ve feedback the modest community around Chicago. in conducted This narrative with consistent is in and received recent a

We weekend. but response of past say comments at shared from was powerful garnered with incredibly I supportive like this all just live personal surprised positive and are very overwhelming pleased that including testimonies the not the tragic incident

the with helps focus consistent Mayor bring believe values are and his ShotSpotter expressed capability we Johnson’s engagement. about on Importantly, community

are forward the partnership Chicago. and of to and city We citizens hopeful our looking continuing with

to also regards We have news positive to share Puerto Rico. in

since you extend Rico expiration a interim inability XX-day our contracted year service. competitive terminated extension to our may Rico evaluate the As resume and Puerto multiyear RFP customer’s develop They an issue this to use contract but also bids. recall, contract. to to to only period the we service reluctantly and earlier Puerto due has this not for

confident contract Police Department. multiyear Rico to We stellar about value Puerto our given record a are highly award, the our track prospects and for

very excited this in years, contract upon representing work Rico our XX build continue and Puerto and over new awarded We’re our relationship to formally be should executed.

law continue building, momentum and invest we enforcement in that competitive ShotSpotter features new key and clearly increased effectiveness. to is moat our transparency support with widening

feature a of attended. found Ground quickly in first app ability responding Truth such officers alert shell as disposition provides our of to The description incident mobile or the metadata these, the annotate victim a their that with of evidence casing

audio of feature broadcast digital a map animated of alert. Our the an with dot count gunfire combined shot a shared is alert round media-ready that recorded local media a the that cast the snippet approximate with event with shows be can representing location on

officer new the times ShotSpotter to alerts. response to agency management our tracks from analyze overall dot dispatch to And can time [ph] feature automatically to show lastly, response and alert that cop measures

a and already cumulative and maintain these our network We’re deploying that improve rate. that invest further feature detection innovation gunshot position in also area acoustic dominant the detection further will accuracy commitment space. We to azimuth in capability our demonstrate believe neural high sensor platform enhancements robust filtering gunshot our wide acoustic new includes a a

We by bundle our of see are further and solution cross-sell offerings platform. encouraged the we across four opportunities several SafetySmart

is bundle second a growing quarter along going will forward. part and with story X the bigger growth closed that of cross-sell/bundled our become opportunities pipeline center cross-sell In new deals. alone, buying we believe we The

management pioneer lastly, excited the customers AI-based solution certain share patents product in developing SoundThinking’s we in And acquire front, intellectual early well that PredPol, their an on to patrol their solutions to property. agreement negotiating to ResourceRouter as are transition an I’m as with

of making crime less technology. more early capabilities by deter We to way over-policing. as have transition this be working with as on well understaffed provides engineering will current without recruitment who a agencies their team as key the way hired already in we road proven the resources plan retirements, ResourceRouter map. In view do era product patrol unique ResourceRouter and a departments, helping leveraging or to and challenges in risk a these allocate accelerating

this learning material our AI cross-selling the to platform believe PredPol While in to the application solutions the a time, term, multiple not we be will over application meaningful machine our and near contributor of public of combination and customers value safety. facilitate and technology to Company enhance patent of to the SoundThinking

$XX In while XX% the $XX our conclusion, for our full adjusted adjusting full we’re margin XX% XXXX, range year EBITDA to year maintaining million revenues. revenue of range to of the in in to million of guidance be

over me let And with the that, call to Alan. turn

Alan Stewart

Thank you, Ralph.

in performance our the quarter. with second pleased We’re

cities X quarter, went live ShotSpotter university. new we and current Ralph in in X and this X As university cities current new and expanded mentioned, X

to SafetySmart in our see an increase continuing the of interest solutions We’re platform. across our

we year, approximately new XX% CrimeTracer almost two new contracted QX, and add customers to miles X new expect this we ShotSpotter XXXX. coverage point, customers. XXX of In higher than with also CaseBuilder this At

with to be bundled customers contract Our working are who to we appears like from product dramatic increase to would our as platform. from starting multiple strategy well SafetySmart see a products

I share year. quarter, me provide Let some will of more then the on details balance around thoughts and the the

million quarter XXXX. million Revenue miles the $XX.X a XX% are versus increased the revenues $XX.X million quarter year-over-year. profit or prior XX% revenue or of was of of XXXX the ahead expectations of Second million, second period. as slightly our revenue year were over second XX% up Gross increase $XX quarter for for in of at deployed $XX.X

the are contract large margins the of we of awarded Department Corrections after the expect customer. second year, We improve gross in the half CaseBuilder with to

approximately $X.X to $X.X second due year million for last year this totaled Our from some million. was to adjusted that $X.X million EBITDA quarter expenses onetime down the

measure As consideration taxes, obligation. loss amortization by compensation non-GAAP interest income depreciation, expenses and our calculated out adjusting a income, financial income and contingent net our stock-based GAAP impairment, reminder, adjusted to or and EBITDA, is taking adjustments acquisition-related a including expenses,

Turning expenses. our to

the intangible name continued reduction That from costs, high Our our operating Forensic $XXX,XXX for reduced the Puerto to to to or or related million approximately expenses $XX potential to adjustment, over Logic related million personnel acquisition, operating couple XXXX the other $XXX,XXX primarily were reduction a a related to accelerated offset legal meetings, material acquisition, million in Rico $X.X a items and all-hands such due expenses related related our invoices product and of rebranding of XX% were items. launch, expenses tied to been some a second second higher as the to amortization quarter Logic second approximately said, of earn-out of company for consideration company-wide by approximately contracts. the versus revenues quarter Operating and quarter to contingent expansion, associated our due have payments included XX% million expected value which $X expenses for $X.X with in a Forensic in write-off of unpaid XXXX. less revenues of

million sales or or marketing in prior million the of period. for the and expenses, Breaking increase The of $X.X XX% was down year total revenue revenue expense items. related to XX% above-mentioned $X.X was second total quarter for the versus our costs

revenue $X.X prior million second quarter total of Our period. for $X.X for XX% R&D the revenue to million or compared year of or expenses XX% were the total

invest of in functionality of all our to continue We the products. increasing

and of increase the compared the period. The or include related were the total prior consideration. costs, higher any contingent or expenses revenue G&A some XX% costs, personnel-related expenses value total million G&A G&A revenue legal increased $X.X in primarily to for $X.X the for year fees changes quarter of costs. acquisition of fair was consulting XX% increased do expenses business million to in not

absolute third expenses expect our QX. that G&A what experienced fourth and company would to as quarters, they for QX in similar dollars grows. We we decrease revenues to we continue our as the percentage will from said, expect of That stay a in

weighted average diluted second quarter $X.X of loss shares or period. for million million and based weighted was share per or million diluted the shares basic compares income and income the outstanding. basic basic basic to outstanding, XX.X net diluted million and $X.XX concluded $X.XX million year for the $X $XX.X $XX.X shares of for on $X.XX This quarter an per prior per based and net share on GAAP respectively, Our

outstanding. income This for per million based basic a loss on shares the of and the or net Our million or $X.X $X.XX million basic to $X.XX year XX.X of diluted period. a share shares XX.X loss compares second weighted weighted of and diluted loss prior per loss based for adjusted a average outstanding quarter a average was $XXX,XXX of share on

Adjusted and a non-GAAP our including measure calculated net adding consideration adjustments income, contingent to obligation. by income is our expenses, back acquisition-related net financial GAAP taking

decreased million of renewals. of million the end primarily related the fourth XXXX to was end decrease at the from revenue the the Deferred of at quarter to and timing $XX.X $XX quarter the

quarter million had quarter, $X.X in almost that of in $XX.X related been and at The the we of decrease $XX.X the ended quarter versus cash which million some We has fourth with collected. the of receivable is already the second cash million primarily end XXXX. accounts end at equivalents to

is balance cash Our greater than $XX million. current

quarter, an $X.X million. we at our repurchased for second approximately $XX.XX the XXX,XXX During price at also shares average of

million We have credit, line our ever available if approximately $XX of on needed.

we long-term short have outstanding. or debt So, no still

XXXX full Turning year outlook. to our

to incurred our the and adjusted reducing our $XX revenue full the XX% legal XX% maintaining that costs $XX on than to higher during million year to quarter EBITDA range increased million expenses based expected. guidance are We’re at ongoing the margin but

some for happy take then final questions. be we’ll Ralph And your to thoughts. back Now to

Ralph Clark

Alan. Thanks,

for I thank customer had really Before phenomenal we thank center, of and shout-out a year. go-live take is the day. we Thank of want a have ever you the and that saving stepped experienced teams us apart executing collaborations been The for DevOps Xth and with to smoothest your this performance field service our give teams incident company-wide purpose review drama-free to and sets in single and half activity first X questions, collective you. the our to July management XX-plus literally also lives every want Company. holidays personal I I’ve to our up services passion and project years

take we’ll that, with now questions. your And

Operator

Baldry. [Operator Instructions] question from the first of Your ahead. comes line Please Richard go

Richard Baldry

Thanks.

the half a another sort time that You is of to the both? it little bit be of swing of it about miles deployment the to second more what still, or in sort could contract or upside maybe factors get there mentioned added. is there to Talk XX are,

Ralph Clark

Ralph, of question. Yes. that Thank This a for much Richard. bit both. you is It’s little very

number the and wire XX-plus soon the what the enough And extent deals have get of with negotiated. that’s staff that We able kind of to last of to a those over them able that the we’re in stage year-end, managers be. and be are potentially to that before book project extra them to deployed could bring being miles them

Richard Baldry

And that scale how over actually quarter, rev that will could the to maybe in rec, if I Just when What closed to that? deal of the the think Could factors I I that color it CaseBuilder around P&L, heard future. work any Okay. correctly. impact be deploying done sort around the does time? was to large heard start in deploy needs around it second that talk the you contract about

Ralph Clark

Yes.

So, again. Ralph is this Yes.

let me correct you. So

formally We still closed and worked. very That’s much the haven’t yet. that transaction pipeline being in

It’s In a contract fact, into was negotiating million. delay, we of had that years approximately due year bit is about $XX X it’ll is the of ran guess, the the on $XX a news at deal. of news. being kind in to to good come X-year talked bad part delay think which that I been Previously, I we and a another extended million deal. now of

the that that quarter. and much pipeline, still in closed very the So, in hoping we’re to is get next

Richard Baldry

talk the inbound bundled Are can of that? you when there’s for approaching you guys? running a or And sort working? you a that that? Are few Okay, salespeople with little sales with as sort bit of a board on about your how that sales, maybe is then on process the you’re great. that is of primary, your really leading And that is are across finding interest

Alan Stewart

Yes.

board So, The we’re then particular solution I’ll also can all of well, we for right now. Alan. one when our the selling includes this up we and about And the is of that products heard answer add, talk I customer different salespeople. too. that plans the all Ralph set the It’s across commissions says, we’re finding other that we this you solutions. if customer we way, case, tell information, this, even asked also it about not in can Z. X, this Y might by be or as the -- And or oh, the to for have that they and currently additional such them about we to have was say, also interesting

are that So, that a in lot we’re it is hearing bundled something more interest products. for the looking people

Richard Baldry

shot? sort And in to do pricing take it a just there’s or time, clients associated upfront you one there or a that pushing both discount just same it in if that, in feel and just do when you better do that the that, it’s both at you’re easier so to implementing, is the happy it of are done get some of concept with

Alan Stewart

Alan. is This Yes.

question. Great Okay.

a people a you and adding are is slight when advantage discount are discount. slight it. We of start enough contracts, additional but the significant that it offering It’s taking not

Operator

question from your of Mike comes And Latimore from Capital. the line next Northland

Aditya Dagaonkar

Aditya Latimore. is This and Could the you bookings me of first of the of behalf tell year the cities? on what Mike X the percentage came half X tire in tire from Hi.

Ralph Clark

Yes.

heard your question. correctly. think I answer to I’m we not it try sure I’ll

we’re if -- in we’re jump wrong. please So, if

as I well of of a with think, we’re new number as couple saying along new that a cities, we’ve both booked cities universities. cities expansion

is miles look about plus we we of think get have and terms so when and currently QX, XX we that’s deployment, what booked of to our total, plan. which project, what and for we in think, I I on go-live ahead square activity originally XXX could at miles talked of in think you staffed tap QX

miles So, part that ahead our we’re respect live. well of question? to with on gunshot the business core acoustic Does answer domestic your going

Aditya Dagaonkar

what But percentage cities, comes it cities? the of from tire Yes. X tire X

Alan Stewart

the go we we contracts were that awarded things is had, terms in to -- a in of actually assigned cities second year. Yes. or -- would live last live half we couple of and were that in there went by say QX I what the we of are guess, that the started

about we mentioned get year. they example, quarter signed So talk the this for fourth Suffolk of in first the didn’t actually last you if but or quarters those Cleveland, year, and County until second

seeing -- are contract, under get new -- we a to council are more So, cities actually coming that in though. at little say sometimes them while city takes to it approved signed the they’re

Aditya Dagaonkar

it. the Could of some the give on color gross for year? margins expect Got what All half can right. we kind second you of

Alan Stewart

Yes, sure.

is So, this again. Alan

increase in see margins. gross an So, we did

about only XX%. First quarter was

We’re up now back to XX%.

margins expecting QX. and into are QX continuing gross We to increase

are Corrections to those when related the to That get in. back of improve costs of well lot the margin that’s Rico large as related already will Department the Puerto a one. that we the to coming as contract. contract, We’ve significantly Some expect revenue gross under incurred of

So, hope it’s come would the margin time margin close ended as the that to with a by going pretty expect gross and have We year. XX% well. higher in to gross we to

Operator

next line from question from of the comes Capital Jeremy your And Hamblin Group. Craig-Hallum

Jeremy Hamblin

that and come the want good side expense I understanding of to business, to expectations the going make of operating had back forward. expenses I just a sure the

on XXXX is as about a public. should any would of thinking that be the some guys of million that go-forward you’ve you we that investments So, into costs, really range the I and QX, how probably in million the had $X.X biggest noted you well? plus step-up biggest that sales basis? kind to be marketing which And the understand, to just about wanted $X starting have since think And maybe looking the step-ups, business. in any of with you’ve kind onetime of sequentially quarter accelerated, Is that one we drive made I thinking been

Alan Stewart

Jeremy, is little and this last in about to Excellent for asking thank of an related interesting million, is we year QX a is -- of go forensic expenses not about But million $X.X and because logic. to accelerated $X.X that that related out you from here’s is is hard amortization million, to intangible it trademarks Alan. the that you million generally related that question, of $XXX,XXX $X.X it’s thing directly that $X.X When understand. million $X.X and to increase. that to would recur.

COPLINK from accelerate our to allocations that expensed When the that. purchase we just to we had conditions, were been we how had over that to CrimeTracer, based price would changed Otherwise, X on years. -- adjust next $XXX,XXX XX have

is that So not going renew. $XXX,XXX to

already the billion to of of and $X.X the was Company in So been that $XXX,XXX rebranding the half. products. that has cut launch of related directly About name four

that We’re not doing again.

a million onetime cost going that’s that So well recur. not $X.X is to as

And year. that’s to million $X.X exactly $X.X that million, back so you then last almost we down basically, -- at where were already to takes

We added that. some million like personnel added costs. things actual $X have terms We’ve and about in of

So, couple dollars you incredibly see are continue. important going to That’s what’s quarter. can understand. But thousand of That’s increased the to a in not. is that that of rest this hundred

think about forward. year, XX% and to go sales as expecting around you marketing, down go when So, that at back to XX% this we’re we

Jeremy Hamblin

percent say as half talking Got XX%, when of it. about in a And second you you’re of revenue? ‘XX

Ralph Clark

That to what I’m Yes. XX%. close in it was QX. was referring

revenues So, as continue to to little we’re down maybe lower even increase. our go back a or expecting

be anywhere this near we that going have not it’s XX% definitely to the So, quarter.

Jeremy Hamblin

Right. understood that. I No,

more like things it of in G&A, just that But is though, more sounds onetime color It on some the is like a sounds a also are And there maybe albeit you’re nature. then, that. that little that step-up, thinking... Okay. in

Alan Stewart

it’s always there you two answering when time. to things time debt to said, well. related exact happen, one one is things. one some hard this they’re a to not say related Again, time because Yes. one was are as rarely and million they $X.X bad those that There have or in necessarily little can’t - but But time. exactly only are you almost -- QX it’s acquisition-related, say That Alan Alan

hope those So, not to we recover.

little terms expected. of higher to The harder legal to is, we a legal, other have stuff continues say that’s would in the be than little a

get -- than the to past we we in look been the X at X higher, continue getting is more years also to We significantly not to in have that. higher subpoenas how year, the better those. But than past or we’re are at past responding they’ve

a hoping does. better although stay something are is it to reduce that we’re those higher being So, we than expenses had legal by going probably it that little we hoped, can how at

G&A revenue So, lower going terms little a but top higher as actual a of continues stay to to percentage dollars, grow. the definitely to it’s is line be in going

Jeremy Hamblin

this significant Okay. we a Got a bit long-term the right, have expectations, mid-XXs. change little I it. kind of where looking in but is And margin such EBITDA thinking, then, more been here it’s at think

a the a at I of more at looking basis, get the Is more XXs into go-forward you sound like for On What that we’re would plan just business to target? previously year? expense guide. thought what’s your your bit it reasonable back is would the a going midpoint does next variety assume little fair? Now XX% guys a -- carry of reasons. to than that

Alan Stewart

is And that we not that’s Yes. This that as goes add the Alan, that think Ralph of going just back, start is spent, and going number and that Absolutely. well. you even $X.X if recur, to if to you part I’ll million up. reason about the is add --

definitely We’re year. XX% to as we next go of be going into north

of Department year professional as in contract, year Corrections which is The brings $X subscription between million going well. staffed already other in as well that $X the services the million and a in about million thing times, this as that’s $X a of do a we’re also to of to this really we’ve said we majority couple important have up is people need

the increase going line So, margin, significantly which down adjusted also higher bottom is and with at to EBITDA. slow gross to come a are those going

Ralph Clark

say, because and metal really on add, kind pedal actually, cadence too, grow the business on on It I seeing this to contribution it’s Yes, think off. to unique we prudent short-term to saw basis, moment. marketing to with Yes. think of And paying we’re particular in for investments would the by and is putting us do contribution just very very fair scale we I very the prudent opportunity a to a performance that respect And margin. was even sales go-live I the it. made miles

going two think, XXX from in row. the for, gone miles with past years I live We’ve a

We’re now stepping that up.

about in talking happens go-to-market to motion. And possibly a to intentional XX% We’re XXX kind increase. doesn’t investments that That’s like we’re It XXX of miles. about happen magically. making because XX% very

And so, we thought really it was detection, prudent say, an of to make and would terms those it to I we investments how gunshot smart we was and to be opportunity off. kind our invest a thing It little do. paying because it’s bit more, acoustic in generous footprint saw accelerate a in of

Operator

Instructions] Cantor Jonathan of Fitzgerald. The question from from Ruykhaver line next comes the [Operator

Jonathan Ruykhaver

So, pipeline, lost there? I opportunities any accelerated Forensic related to the Logic. a believe came state be federal potential along was to there I customers wasn’t and with that and amortization that clear want just

Alan Stewart

Yes.

contingent that. the Alan about of change. some slight delay So, contracts that. forensic The has are said, this was totally adjustment, we That also do to nothing the to with which have acceleration of did It is reported logic, name million related a was is related the $X in consideration asset that that we to getting.

of the numbers reduce want the revenues grow to from that getting that had also to we to from related earn-out, to going Forensic they’re we’re in last I But also to terms tied about year Logic. the while say, XX%

perspective, that from just accounting well. adjustment make are to things We the had going to, an still related earn-outs. So

Jonathan Ruykhaver

helpful. That’s Okay.

it you product feel -- sounds comfortable looking specifically. with environment the you still So pretty that at like demand

Ralph Clark

Yes, XXX%. absolutely. Yes,

In it. actually in the that actually with solution fact, one deals investigate we was the solution the behind led about of brought bundled CrimeTracer talked that

Jonathan Ruykhaver

And to to be on briefly, Rico, just do that contract contract? that Okay. write-downs the you I you Puerto is you that that potential write-off clear, beat hear. touched Yes. That’s further to but on great also, see that? related know how to risk a continue

Alan Stewart

the Alan. And was further now, We are results to we of recur. Ralph expect this Well, mentioned, the contract We them That of really for don’t again. tied expect as that write-downs with receivable. waiting multiyear a that. is to don’t uncollectible any

Jonathan Ruykhaver

it go-to-market And Okay. tracking but just initiatives plans? of curious I’m this That’s how I initiatives, guess, on managing territory, specifically, then, account the are different assume mark? good And relates to hear. reps how per as you per you conflict how even touched more the importantly, tiers, the add you’re you have are just managing but what’s reps briefly, then the more delineation territory. to you I those that? to more

Ralph Clark

Great. I’ll answer that. is This Yes. question. great Ralph. And

starts Bunyard. our sales I in incredibly have with sales with leader company grateful which leadership, think we’re it first our to Gary amazing

it way As you and recall, the you we respect with that be we’re reps if collaborating overlay acoustic territories, is gunshot responsible have for they’re specialties, organized geographic have territory that CrimeTracer, will, CaseBuilder, are reps, with detection ShotSpotter. to

their within So, particular quarterbacking opportunities the they’re basically territories.

we’re able we can that now execute some towards. been to place we’re exciting we’ve about what of being our different buying after centers extensions -- go traditionally platform now in What’s is a that able to been than

say, a a the number local DNA local really been years. has obviously -- that So, for of and state there’s very, enforcement agencies let’s our part or of law

new to kind We’re on that buying state these of are adding centers that agencies. level

already the CrimeTracer a deal was In with about down we’ve very We for late talked, X-figure some Massachusetts. sales. seen solution fact, I with of successful the state that success last state taken think, year

some seeing solution. for state-level now opportunities CaseBuilder We’re

with then another local agency traditional local crime at ongoing on gun actually And respect for different that law buying We completely up that center us won law that than investigative the to focused management enforcement. go we’ve for have there’s after an state CaseBuilder opportunity traditionally persistent don’t a opens solution, a our case ShotSpotter. been investigative to agencies award enforcement

we us. oftentimes, a interested kind well. discussion we’re finding but be there’s of into markets things that or they’re one one suite lot other opportunity because interested is very they there might very, they kind helpful in of And with thing, find of going actually thinking two for entire maybe in platform as we’re So, a out story, the when see

and actually these -- with make of we’re So, you’re technically going going to that us work and in how another. terms pipeline from is we’re one continuing to see products to to more more effectively integrating build -- see grow them

the early of and to excited this response very stages the in about we’re date. So, we’ve that seen

Operator

Thank session. you. this Instructions] this concludes our At time, [Operator question-and-answer

you ssti@gateway-grp.com. question the team to was for I’d contact over by e-mailing Thank closing like SoundThinking’s Clark back may call taken, to remarks. your turn Relations his Investor If now you. Mr. not

Ralph Clark

you on and everyone’s our questions really you continuing much. engagement, one-on-one and to very forward Thank with Great. We calls. very conversations much. you appreciate looking Thank

Operator

us joining call. for for today’s you Thank

disconnect. now may You

ShotSpotter (SSTI) 8 Aug 232023 Q2 Earnings call transcript