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SoundThinking Announces ShotSpotter Renewal with New York Police Department

1. SSTI's ShotSpotter contract with NYPD renewed for three years. 2. Contract valued at approximately $21.8 million. 3. ShotSpotter covers over 80% unreported gunfire incidents. 4. Accuracy rate maintained at 94% in 2024, exceeding the commitment. 5. Partnership enhances public safety and community trust in NYPD.

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Why Bullish?

The contract renewal indicates sustained revenue and growth for SSTI, similar to past contract renewals boosting stock performance.

How important is it?

The renewal of such a significant contract directly impacts SSTI's financial outlook and public perception, which can influence investor confidence.

Why Long Term?

The multi-year nature of the contract provides stable, predictable revenue over several years, similar to other long-term contracts impacting stock valuation positively.

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NYPD
February 18, 2025 08:30 ET  | Source: SoundThinking, Inc. Summary: SoundThinking, Inc. today announced a multi-year renewal of its partnership with the New York Police Department for the deployment of ShotSpotter, the industry-leading acoustic gunshot detection system. FREMONT, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology provider, today announced that the New York Police Department (NYPD) renewed its ShotSpotter acoustic gunshot detection service. The multi-year contract renewal is valued at approximately $21.8 million in aggregate. Since it was first deployed in New York City in 2015, ShotSpotter has been an effective, accurate, and unbiased tool utilized by the NYPD to fill the gap in the amount of gunfire that goes unreported to 911, which can exceed 80% of total instances, according to independent research. Over the years of deployment, ShotSpotter has helped to reduce response times to gunfire incidents, assist with evidence collection, locate victims and save lives, and importantly, build trust between law enforcement and underserved communities. SoundThinking is contractually obligated to NYPD to maintain a 90% accuracy rate for the quick and precise triangulation of gunfire. In 2024, the average monthly accuracy rate was 94%. “SoundThinking has partnered with NYPD for nearly ten years, and this three-year extension demonstrates our continued shared commitment to that partnership,” added Ralph Clark, President and CEO of SoundThinking. “We are grateful to know that our technology is seen as making a real difference in NYPD’s gun violence response strategy to have officers rapidly pinpoint and respond to gunfire, ultimately helping to save lives and better protect New York City communities.” About SoundThinking SoundThinking, Inc. (Nasdaq: SSTI) is a leading public safety technology company that delivers AI- and data-driven solutions for law enforcement, civic leadership, and security professionals. SoundThinking is trusted by more than 300 customers and has worked with approximately 2,100 agencies to drive more efficient, effective, and equitable public safety outcomes. The company’s SafetySmart™ platform includes ShotSpotter®, the leading acoustic gunshot detection system; CrimeTracer™, the leading law enforcement search engine; CaseBuilder™, a one-stop investigation management system; ResourceRouter™, software that directs patrol and community anti-violence resources to help maximize their impact; SafePointe®, an AI-based weapons detection system; and PlateRanger powered by Rekor, a leading ALPR solution. SoundThinking has been designated a Great Place to Work® Company. Company Contact:Jerome Filip, PR ManagerSoundThinking, Inc. +1 (510) 203-0934jfilip@soundthinking.com Investor Relations Contact:Ankit Hira Solebury Strategic Communications for SoundThinking, Inc.+1 (203) 546-0444ahira@soleburystrat.com

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