Soundthinking, Inc.SSTI

SoundThinking, Inc. (SSTI) reported $24.2 million of revenue in the three months to March 31 2026, a 15% drop from the same quarter last year and still barely enough to cover the burn. The company’s glossy media kit may promise “AI-driven public safety solutions,” but the 10-Q shows net income of $-7.0 million, operating income of $-6.9 million, and diluted EPS of $-0.54. In short, the AI is talking, the cities are renewing, and the cash is quietly leaving. (source: SSTI SEC EDGAR 10-Q (2026-05-15), https://www.sec.gov/Archives/edgar/data/1351636/000135163626000006/ssti-20260331.htm)

What SoundThinking actually sells is a bundle of gunshot-detection sensors, license-plate readers, investigation-management software, and crime-analysis tools under the ShotSpotter brand. The product rail lists “gunshot detection, license plate recognition, investigation management, crime analysis, and patrol management,” but the latest press release only trumpets “major multi-year customer renewals in Q2 2026,” which is code for “we convinced existing clients to write another cheque.” The Forensic Services page adds a glossy ATF letter praising ShotSpotter’s help in a federal assault case, but the revenue line for professional software services was just $0.2 million in the quarter-about enough to buy a routine expense line for the board. (source: AI-driven, public safety solutions to reduce crime, improve efficiency and keep communities safe, https://www.soundthinking.com/law-enforcement; Press Releases - SoundThinking, https://www.soundthinking.com/press-releases; Forensic Services - SoundThinking, https://www.soundthinking.com/law-enforcement/forensic-services)

According to the 10-Q, SoundThinking’s assets stood at $125.7 million against liabilities of $58.1 million as of March 31 2026, leaving $67.6 million of shareholders’ equity. Cash and equivalents were $14.2 million, and operating cash flow clocked in at a meagre $207,000. The company spent $1.7 million on property, plant and equipment and poured $4.4 million into research and development-both numbers large enough to keep the lights on, but not large enough to change the math. Diluted shares outstanding rose to 12.9 million, up from the prior period, a reminder that the renewal spree has been funded partly by equity rather than cash. (source: SSTI SEC EDGAR 10-Q (2026-05-15), https://www.sec.gov/Archives/edgar/data/1351636/000135163626000006/ssti-20260331.htm)

The company’s latest SEC filings show no dividend, no buybacks, and no meaningful free cash flow. The board’s Form 4 disclosures for June 25 2026 reveal routine insider share movements, but nothing that shifts the dial on dilution or liquidity. The evidence set does not include any chart route, so we cannot cite price action or volume. If you want to see how the stock behaves, check the primary venue yourself-SoundThinking trades on the NASDAQ under SSTI. (source: SSTI SEC EDGAR filing index, https://www.sec.gov/edgar/browse/?CIK=1351636)

The company’s June 2 2026 press release claims “major multi-year customer renewals,” but the 10-Q only footnotes $24.2 million of revenue and $0.2 million of professional services, so the renewal headline is not yet matched by the underlying line items. The June 23 2026 announcement of a new “SafetySmart® Field Agent™” AI layer offers more platform poetry, yet the balance sheet remains stubbornly prosaic. Until the cash register rings louder than the marketing swirl, the gap between the ShotSpotter sales script and the ShotSpotter 10-Q will keep widening. (source: Press Releases - SoundThinking, https://www.soundthinking.com/press-releases; Media Kit - SoundThinking, https://www.soundthinking.com/media-kit)