SSTI

MKT CAP:$87M

SoundThinking, Inc.

Market Cap

$87M

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$6.79-$0.96 (-12.39%)

Apr 21, 2026

Company Details

SoundThinking, Inc., a public safety technology company, provides data-driven solutions and strategic advisory services for law enforcement, security teams, and civic leadership. Its SafetySmart platform that includes data-driven tools comp...

CEO

Ralph A. Clark

IPO Date

Jun 7, 2017

Website

soundthinking.com

Key Metrics TTM

Revenue

$104M

+2.1% YoY

Net Income

-$9M

EPS (Diluted)

-$0.75

Free Cash Flow

-$1M

Revenue / Share

$8.17

Gross Margin

54.4%

Operating Margin

-7.8%

Net Margin

-9.0%

FCF Margin

-1.0%

P/S

0.8x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 3, 2026

$104M+2.1%EPS -$0.74

Q4 2025

Mar 3, 2026

$25M+5.9%EPS -$0.22

Q3 2025

Nov 13, 2025

$25M-4.4%EPS -$0.16

Q2 2025

Aug 13, 2025

$26M-4.0%EPS -$0.25

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$21M	$13M	$432.0K
Q2 22	$20M	$12M	$3M
Q3 22	$19M	$10M	$4M
Q4 22	$21M	$12M	$37.0K
Q1 23	$21M	$11M	-$2M
Q2 23	$22M	$13M	-$2M
Q3 23	$24M	$14M	-$1M
Q4 23	$26M	$15M	$4M
Q1 24	$25M	$15M	-$3M
Q2 24	$27M	$16M	-$491.0K
Q3 24	$26M	$15M	-$1M
Q4 24	$23M	$12M	-$4M
Q1 25	$28M	$17M	-$1M
Q2 25	$26M	$14M	-$3M
Q3 25	$25M	$14M	-$2M
Q4 25	$25M	$13M	-$2M

Valuation

Quarter	P/S	P/E
Q1 22	1.4x	—
Q2 22	1.2x	—
Q3 22	1.2x	21.2x
Q4 22	1.1x	13.7x
Q1 23	1.1x	20.7x
Q2 23	1.1x	—
Q3 23	1.0x	—
Q4 23	0.9x	—
Q1 24	0.9x	—
Q2 24	0.9x	—
Q3 24	0.8x	—
Q4 24	0.9x	—
Q1 25	0.8x	—
Q2 25	0.8x	—
Q3 25	0.8x	—
Q4 25	0.8x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$4M	$2M
Q1 22	$1M	-$625.0K
Q2 22	-$2M	-$4M
Q3 22	$10M	$6M
Q4 22	$2M	$244.0K
Q1 23	-$1M	-$3M
Q2 23	$3M	$797.0K
Q3 23	$9M	$8M
Q4 23	$316.0K	-$384.0K
Q1 24	$5M	$3M
Q2 24	$4M	$3M
Q3 24	$14M	$12M
Q4 24	-$859.0K	-$2M
Q1 25	-$141.0K	-$1M
Q2 25	-$1M	-$3M
Q3 25	$6M	$5M

Capital Expenditures

Quarter	CapEx
Q4 21	$2M
Q1 22	$2M
Q2 22	$3M
Q3 22	$4M
Q4 22	$2M
Q1 23	$2M
Q2 23	$2M
Q3 23	$1M
Q4 23	$700.0K
Q1 24	$2M
Q2 24	$2M
Q3 24	$1M
Q4 24	$1M
Q1 25	$910.0K
Q2 25	$1M
Q3 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+41.3%	+40.0%
Q2 22	+36.9%	+13.6%
Q3 22	+29.1%	-4.9%
Q4 22	+50.3%	+22.4%
Q1 23	-2.8%	+7.9%
Q2 23	+10.3%	+45.3%
Q3 23	+27.7%	+73.2%
Q4 23	+24.0%	+3.3%
Q1 24	+23.2%	+25.0%
Q2 24	+22.1%	+12.4%
Q3 24	+9.5%	+7.2%
Q4 24	-10.1%	+25.7%
Q1 25	+11.6%	+5.5%
Q2 25	-4.0%	+5.0%
Q3 25	-4.4%	-0.5%
Q4 25	+5.9%	-1.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$2M	11.1%
Q1 22	$2M	8.7%
Q2 22	$2M	10.6%
Q3 22	$2M	11.5%
Q4 22	$2M	10.2%
Q1 23	$2M	10.8%
Q2 23	$2M	11.2%
Q3 23	$3M	10.7%
Q4 23	$3M	10.4%
Q1 24	$3M	11.5%
Q2 24	$3M	11.7%
Q3 24	$3M	11.6%
Q4 24	$3M	12.8%
Q1 25	$3M	12.0%
Q2 25	$4M	14.8%
Q3 25	$3M	12.2%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$3M	$4M	$6M
Q2 22	$3M	$4M	$6M
Q3 22	$2M	$4M	$5M
Q4 22	$2M	$4M	$6M
Q1 23	$3M	$5M	$6M
Q2 23	$3M	$6M	$7M
Q3 23	$3M	$6M	$6M
Q4 23	$3M	$5M	$7M
Q1 24	$4M	$7M	$7M
Q2 24	$3M	$6M	$7M
Q3 24	$3M	$6M	$7M
Q4 24	$3M	$6M	$7M
Q1 25	$4M	$6M	$7M
Q2 25	$4M	$6M	$7M
Q3 25	$4M	$6M	$6M
Q4 25	$4M	$4M	$7M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	41.3%	12.3%	53.6
Q2 22	36.9%	10.6%	47.5
Q3 22	29.1%	5.1%	34.2
Q4 22	50.3%	10.0%	60.3
Q1 23	-2.8%	3.0%	0.2
Q2 23	10.3%	-0.9%	9.4
Q3 23	27.7%	4.5%	32.2
Q4 23	24.0%	9.1%	33.1
Q1 24	23.2%	-0.5%	22.7
Q2 24	22.1%	7.6%	29.8
Q3 24	9.5%	5.8%	15.3
Q4 24	-10.1%	-5.6%	-15.7
Q1 25	11.6%	3.9%	15.4
Q2 25	-4.0%	-2.0%	-6.0
Q3 25	-4.4%	1.0%	-3.3
Q4 25	5.9%	5.4%	11.3

Rule of 40

Revenue Segments

Quarter	Professional software development services member	Subscription, maintenance and support services Member
Q1 22	$2M	$19M
Q2 22	$2M	$18M
Q3 22	$600.0K	$18M
Q4 22	$700.0K	$20M
Q1 23	$1M	$20M
Q2 23	$1M	$21M
Q3 23	$2M	$23M
Q4 23	$1M	$25M
Q1 24	$100.0K	$25M
Q2 24	$1M	$26M
Q3 24	$700.0K	$26M
Q4 24	$1M	$22M
Q1 25	—	$28M
Q2 25	$300.0K	$26M
Q3 25	$200.0K	$25M

Revenue by Geography

Quarter	South Africa	United States	Uruguay	South America
Q1 22	$400.0K	$21M	—	—
Q2 22	$200.0K	$20M	—	—
Q3 22	$200.0K	$19M	—	—
Q4 22	$100.0K	$21M	—	—
Q1 23	$400.0K	$20M	—	—
Q2 23	$500.0K	$22M	—	—
Q3 23	$500.0K	$24M	—	—
Q4 23	$500.0K	$26M	—	—
Q1 24	$600.0K	$25M	$600.0K	—
Q2 24	$700.0K	$26M	$700.0K	—
Q3 24	$300.0K	$26M	$300.0K	—
Q4 24	$1M	$22M	$1M	—
Q1 25	$800.0K	$28M	—	$800.0K
Q2 25	$700.0K	$25M	—	$700.0K
Q3 25	$800.0K	$24M	—	$800.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$9M	$0	$9M
Q2 22	$3M	$0	$3M
Q3 22	$10M	$0	$10M
Q4 22	$10M	$0	$10M
Q1 23	$5M	$0	$5M
Q2 23	$4M	$0	$4M
Q3 23	$6M	$202.0K	$6M
Q4 23	$6M	$0	$6M
Q1 24	$9M	$0	$9M
Q2 24	$10M	$0	$10M
Q3 24	$15M	$0	$15M
Q4 24	$13M	$0	$13M
Q1 25	$12M	$0	$12M
Q2 25	$9M	$0	$9M
Q3 25	$12M	$0	$12M
Q4 25	$16M	$0	$16M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	12M	+5.4%	+3.5%
Q2 22	12M	-0.0%	+5.9%
Q3 22	12M	+0.4%	+5.8%
Q4 22	12M	-1.1%	+4.5%
Q1 23	12M	+0.3%	-0.5%
Q2 23	12M	-0.2%	-0.7%
Q3 23	12M	+2.1%	+1.0%
Q4 23	13M	+3.0%	+5.2%
Q1 24	13M	-0.7%	+4.2%
Q2 24	13M	+0.2%	+4.7%
Q3 24	13M	-0.8%	+1.7%
Q4 24	13M	-0.8%	-2.1%
Q1 25	13M	+0.5%	-1.0%
Q2 25	13M	+0.3%	-0.9%
Q3 25	13M	+0.2%	+0.1%
Q4 25	13M	+0.3%	+1.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$127.0K	167
Q2 22	$119.9K	167
Q3 22	$112.4K	167
Q4 22	$375.0K	56
Q1 23	$368.2K	56
Q2 23	$394.2K	56
Q3 23	$428.2K	56
Q4 23	$83.5K	312
Q1 24	$81.4K	312
Q2 24	$86.4K	312
Q3 24	$84.1K	312
Q4 24	$74.1K	316
Q1 25	$89.7K	316
Q2 25	$81.9K	316
Q3 25	$79.4K	316
Q4 25	$78.4K	316

Revenue / Employee