SoundThinking Inc (NASDAQ: SSTI) is a public safety technology company that sells gunshot detection, crime analysis, and weapons detection solutions primarily to law enforcement agencies and government entities. Revenue comes from annual subscription contracts, with customers billed the full contract value upon renewal and fees recognized ratably over the term. ShotSpotter, its wide-area acoustic gunshot detection product, represented 64% of total revenues in FY2025. Total revenues were $104.1 million in FY2025, up from $102.0 million in FY2024 and $92.7 million in FY2023. The company reports concentrated customer exposure: the City of New York alone accounted for 29% of total revenues in FY2025. Substantially all revenues are derived from customers within the United States, including Puerto Rico and the U.S. Virgin Islands. The company carries an accumulated deficit of $113.7 million as of December 31, 2025, and recorded net losses in each of FY2023, FY2024, and FY2025. Adjacent products include CrimeTracer, ResourceRouter, and SafePointe, an AI-driven weapon detection system targeting hospitals and other venues.

Revenue model

Subscription contracts billed at full contract value upon renewal, with revenue recognized ratably over the contract term, typically one year. CrimeTracer (via Forensic Logic) generates additional subscription revenue from cloud-based crime data and analysis tools, including a reseller channel where an intermediary combines the platform with its own materials and services.

Products and services

ShotSpotter: wide-area acoustic gunshot detection with court-admissible reporting. CrimeTracer: cloud-based data platform for advanced crime search and analysis (acquired via Forensic Logic). ResourceRouter: law enforcement resource allocation tool. SafePointe: AI-driven weapon detection system targeting hospitals, casinos, and other venues. SoundThinking Labs: applied research applying acoustic detection to non-law-enforcement use cases such as anti-poaching and blast fishing detection.

Customers and end markets

Primary customers are municipal law enforcement agencies and government entities in the United States. The City of New York was the largest single customer at 29% of FY2025 revenues. The City of Chicago contract ended in November 2024, removing a customer that had represented 10% of FY2024 revenues. Emerging end markets include California hospitals (AB 2975 mandate requiring weapons detection in general acute care and psychiatric hospitals by 2027) and casinos.

Value-chain role

Technology provider and managed-service operator: SoundThinking deploys sensor hardware, operates a cloud-based detection and analytics platform, and provides ongoing support including court testimony and evidence reporting for law enforcement customers.

Geographic exposure

Substantially all revenues derived from customers within the United States, including Puerto Rico and the U.S. Virgin Islands (FY2025, FY2024, FY2023). SoundThinking Labs operates non-commercial deployments in Kruger National Park, South Africa and Southeast Asia, funded by philanthropic entities.

Competitors

Other outdoor gunshot detection and counter-sniper system vendors, Video management system vendors competing for law enforcement budget, Other security solution providers competing for limited government funding

Source: SEC 10-K, filed 2026-03-30

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