Soundthinking, Inc. (NASDAQ: SSTI)

SoundThinking, Inc., with ticker symbol SSTI, operates in the precision-policing and security solutions industry. The company specializes in providing advanced technology to law enforcement and security personnel, enhancing public safety outcomes through its Precision Policing Platform. This platform includes a variety of products and services designed to improve the effectiveness of law enforcement agencies.

SoundThinking's primary products and services include ShotSpotter Respond, COPLINK X, ShotSpotter Investigate, ShotSpotter GCM, and ShotSpotter Connect. ShotSpotter Respond is an outdoor gunshot detection system using sensors to detect and locate gunfire incidents, providing real-time alerts to emergency dispatch centers and field personnel. COPLINK X is an investigative lead search tool enabling law enforcement agencies to search data from multiple agencies across the United States using natural language speech terms and concepts. ShotSpotter Investigate is a cloud-based investigative digital case folder offering analytical and collaboration tools to help agencies improve case closure rates. ShotSpotter GCM is a case management software that assists agencies in producing courtroom-ready cases. ShotSpotter Connect is a patrol management software utilizing artificial intelligence-driven analysis to help agencies strategically plan directed patrols for maximum impact.

SoundThinking's solutions cater to various markets, such as law enforcement agencies, universities, corporate campuses, highways, and key infrastructure centers. Most of the company's revenues are attributed to customers based in the United States. The company's customers include law enforcement agencies, universities, and other organizations that require precision-policing and security solutions. Notable customers include the Omaha Police Department and the Pittsburgh Police Department.

SoundThinking operates in a competitive industry with other companies providing law enforcement technology solutions. The company's competitive advantages include its expertise in gunshot detection and its ability to provide real-time alerts to emergency dispatch centers and field personnel. SoundThinking is a leader in the provision of gunshot detection solutions and investigative tools for law enforcement agencies, helping improve public safety outcomes - a critical need in many communities.

SoundThinking's growth strategy includes accelerating the acquisition of public safety customers, expanding ShotSpotter Respond revenue within its existing customer base, expanding its international footprint, driving additional revenue per customer with the development or acquisition of new products and services, maintaining a passionate focus on customer success, and growing its security business. The company's customer revenue model is based on annual subscription revenues from the deployment of ShotSpotter Respond on a per-square-mile basis. Its security solutions, ShotSpotter SecureCampus and ShotSpotter SiteSecure, are typically sold on a subscription basis, each with a customized deployment plan.

The company sells its solutions through its direct sales teams and two reseller organizations, focusing on new customer acquisition, customer renewal, add-on sales, and coverage expansion. The marketing function has several focus areas, with demand generation being the largest investment. Research and development efforts focus on enhancing advanced signal processing and classification algorithms, updating sensor hardware technology, reducing manufacturing costs, developing mobile, web, and desktop applications, evolving its cloud-deployed back-end infrastructure, and integration with "smart cities" initiatives.

SoundThinking protects its intellectual property through a combination of patent, trademark, copyright, and trade secret laws and contractual protections in the United States and other jurisdictions. Thirty-eight issued patents cover various dates from 2023 to 2034, with thirty-one in the United States, two in Brazil, and one each in Israel, Mexico, the United Kingdom, France, and Germany.

The company's facilities include office space for its corporate headquarters in Fremont, California, as of December 31, 2022. SoundThinking's ShotSpotter Labs division focuses on adapting and extending its commercial technology to address significant wildlife and environmental issues, collecting revenues from philanthropic entities to cover direct and indirect costs.