SoundThinking, Inc. Files Q2 2024 10-Q

TL;DR

SoundThinking (fka ShotSpotter) 10-Q filed. Q2 2024 financials out.

AI Summary

SoundThinking, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as ShotSpotter, Inc., reported on its financial performance and business operations. Key financial data and disclosures related to its credit agreements and equity plans were included in the filing.

Why It Matters

This filing provides investors and analysts with an update on SoundThinking's financial health and operational status for the second quarter of 2024, crucial for understanding its current market position.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures, but the nature of the company's business and its reliance on specific contracts can introduce medium-level risks.

Key Numbers

• 20240630 — Period End Date (Quarterly financial reporting period)
• 20240815 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• SOUNDTHINKING, INC. (company) — Filer
• SHOTSPOTTER, INC. (company) — Former Company Name
• 20240630 (date) — Period of Report
• 20240815 (date) — Filed as of Date
• UmpquaCreditAgreement (document) — Credit Agreement Mentioned

FAQ

Key Financial Figures

• $0.005 — ch registered Common stock, par value $0.005 per share SSTI The Nasdaq Capital M

Filing Documents

• ssti-20240630.htm (10-Q) — 2032KB
• ssti-ex10_1.htm (EX-10.1) — 74KB
• ssti-ex31_1.htm (EX-31.1) — 11KB
• ssti-ex31_2.htm (EX-31.2) — 11KB
• ssti-ex32_1.htm (EX-32.1) — 11KB
• 0000950170-24-097241.txt ( ) — 8003KB
• ssti-20240630.xsd (EX-101.SCH) — 1187KB
• ssti-20240630_htm.xml (XML) — 1234KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3. Qualitative and Quantitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30 PART II. OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 Item 6. Exhibits 60 Exhibit Index 61

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

Condensed Consolid ated Financial Statements

Item 1. Condensed Consolid ated Financial Statements SoundThinking, Inc. Condensed Consolida ted Balance Sheets (In thousands, except share and per share data) June 30, December 31, 2024 2023 (unaudited) Assets Current assets Cash and cash equivalents $ 9,790 $ 5,703 Accounts receivable and contract assets, net 35,705 30,700 Prepaid expenses and other current assets 3,541 3,902 Total current assets 49,036 40,305 Property and equipment, net 21,396 21,028 Operating lease right-of-use assets 2,297 2,315 Goodwill 34,213 34,213 Intangible assets, net 35,037 36,938 Other assets 3,902 3,909 Total assets $ 145,881 $ 138,708 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 2,448 $ 3,031 Accrued expenses and other current liabilities 8,434 8,521 Line of credit 7,000 7,000 Deferred revenue, short-term 42,985 41,265 Total current liabilities 60,867 59,817 Deferred revenue, long-term 6,446 812 Deferred tax liability 1,333 1,226 Other liabilities 1,620 2,096 Total liabilities 70,266 63,951 Commitments and contingencies (Note 15) Stockholders' equity Common stock: $ 0.005 par value; 500,000,000 shares authorized; 12,782,928 and 12,761,448 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 64 64 Additional paid-in capital 174,662 170,139 Accumulated deficit ( 98,779 ) ( 95,118 ) Accumulated other comprehensive loss ( 332 ) ( 328 ) Total stockholders' equity 75,615 74,757 Total liabilities and stockholders' equity $ 145,881 $ 138,708 See accompanying notes to condensed consolidated financial statements. 2 SoundThinking, Inc. Condensed Consolidated S tatements of Operations (In thousands, except share and per share data) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024

View Full Filing

View this 10-Q filing on SEC EDGAR