ShotSpotter beats second-quarter estimates, forecasts profitability by its fourth quarter
ShotSpotter Inc (NASDAQ:SSTI) announced better-than-expected second-quarter earnings, beating Wall Street estimates on earnings and revenue and affirming its guidance for profitability by the fourth quarter.
The gunshot detection solutions company reported a net loss of US$0.03 per share on revenue of US$8.9mln compared with a net loss of US$1.16 per share on revenue of US$5.84mln in the previous year’s second quarter.
The California-based company surpassed Wall Street estimates of a net loss of US$0.10 EPS on revenue of $8.01mln.
The company has developed the technology to pinpoint when and where a gun has been fired.
READ: ShotSpotter offers plenty of upside for investors ready to pull the trigger
Through the use of multiple sensors, machine learning technology and acoustic experts, the tech can detect the time, location, direction and angle of the explosion and send crucial information to 911 dispatchers and other first responders.
For the year ahead, the tech company upped its revenue guidance to US$33.5mln to US$34ln compared with its prior guidance of US$33mln to US$34mln.
The company expects to achieve GAAP profitability by the fourth quarter of 2018.
“Our record topline, which was up 53% year-over-year, was driven by continued expansion with new and existing customers, who are leveraging our data-driven policing technology to more effectively deter and prevent gun violence,” said CEO Ralph Clark in a press release.
ShotSpotter has partnered with big-name companies like AT&T Inc (NYSE:T), General Electric Company (NYSE:GE) and Verizon Communications Inc (NYSE:VZ).
Shares of ShotSpotter were up nearly 2% to US$44.80 by the closing bell.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/202146/shotspotter-beats-second-quarter-estimates-forecasts-profitability-by-its-fourth-quarter-202146.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).