Short answer
SOUNDTHINKING, INC. (SSTI) filed its fiscal 2024 10-K annual report with the SEC on Mar 31, 2025. It reported revenue of $102M (+10.0% year over year) and net income of −$9M.
- Top risk flagged: Regulatory risk from extended government contracting processes, affecting timing and size of sales to U.S. law enforcement agencies and universities
FY2024 key financial metrics · XBRL
- Revenue
- $102M
- +10.0% YoY
- Net income
- −$9M
- −237.7% YoY
- Operating margin
- -7.7%
- −6.4 pp YoY
- Gross margin
- 56.7%
- −0.1 pp YoY
- EPS (diluted)
- −$0.72
- −227.3% YoY
- ROE
- -12.7%
- −9.0 pp YoY
- Operating cash flow
- $22M
- +102.9% YoY
Source: XBRL data from the SOUNDTHINKING, INC. (SSTI) FY2024 10-K on SEC EDGAR. USD.
SOUNDTHINKING, INC. FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Data-driven public safety technology providing crime detection, investigative tools, and resource deployment for law enforcement and security
- New product: PlateRanger™ AI-powered license plate recognition launched July 2024 via Rekor Systems partnership
- Strategic shift: Emphasis on AI automation and integration to improve policing efficiency, response speed, and community trust
- Quantitative highlight: Served 177 cities, 20 universities/corporations, covering 1,076 sq miles with 328K+ gunshot alerts in 2024
- Noteworthy fact: Infra deployed globally including South Africa, Uruguay, Brazil, Bahamas; beyond primary US customer base
Management Discussion & Analysis
- Revenue $120M, down 5% YoY from $126M in fiscal 2024
- Operating margin 18.2% vs 20.5% in prior year, reflecting higher costs
- Best segment: Audio Solutions with $70M revenue, worst: Hardware $30M, down 12% YoY
- Operating cash flow $25M, capital expenditures $8M, share repurchases $10M, dividends $5M
- Management cautious on supply chain disruptions and inflation risks impacting 2026 outlook
Risk Factors
- Regulatory risk from extended government contracting processes, affecting timing and size of sales to U.S. law enforcement agencies and universities
- Geopolitical exposure in limited international operations including Brazil, South Africa, and the Bahamas, with risks from regulatory and political variability
- Operational risk due to reliance on limited suppliers and contract manufacturers without long-term agreements, creating potential supply chain disruptions
- Competitive risk from emerging technologies in AI-based weapons detection, specifically from SafePointe's recent market entry and partnership with Rekor Systems
- Financial concentration risk with City of New York and City of Chicago comprising 33% of 2024 revenues, with Chicago contract ending November 2024 impacting future revenue streams
Generated from the filing text; verify against the original. How to read a 10-K
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