SoundThinking (SSTI) 27th Annual Needham Growth Conference summary

Business overview and platform evolution

• Rebranded from ShotSpotter to SoundThinking after expanding solutions via acquisitions and partnerships.

• SafetySmart Platform integrates multiple SaaS-based public safety solutions, now accounting for 90-95% recurring revenue.

• ShotSpotter, the original gunshot detection solution, now represents 65% of revenue, down from 100% at IPO due to platform expansion.

• International presence includes 170 cities, with growth in South Africa, Uruguay, and the Bahamas.

• Adds 20+ cities and 100-120 miles of coverage annually, driving recurring revenue and cash generation.

Product portfolio and innovation

• ResourceRouter, an AI-driven patrol management tool, saw more sales in 2024 than the prior three years combined.

• PlateRanger, a license plate reader solution, launched in late 2023, enables upselling to existing customers and integration with other products.

• CaseBuilder, a cloud-based case management system, secured a $18M, six-year contract with Rikers Island and is expanding into new verticals.

• CrimeTracer aggregates law enforcement data for investigative use, with the largest database in the sector.

• SafePointe, a covert AI-powered weapons detection system, targets hospitals and casinos, with revenue expected to multiply in 2024 and 2025.

Customer adoption and use cases

• Customers increasingly purchase multiple solutions, as seen with Newport News acquiring four products.

• Case studies highlight the integration of ShotSpotter, CrimeTracer, and CaseBuilder in solving complex incidents.

• SafePointe is not broadly marketed to schools due to concerns about response capabilities, focusing instead on hospitals, casinos, and financial institutions.

• Customer success team expanded from 2 to 25 in five years, emphasizing best practices and driving high Net Promoter Scores.