Shotspotter (SSTI) Q4 EPS, Revs Beat

Shotspotter (NASDAQ: SSTI) reported Q4 EPS of $0.11, 7 cents better than the consensus of $0.04. Revenue for the quarter came in at $10.9 million versus the consensus estimate of $10.5 million.

“The fourth quarter marked a strong finish to a year in which we proved the resilience of our business and saw the leverage of our operating model begin to enter its full stride,” said Ralph Clark, CEO of ShotSpotter. “While the double-digit revenue growth we recognized in the fourth quarter is modest by our standards, we achieved even larger percentage increases in net income and adjusted EBITDA compared to the fourth quarter of 2018. The increase in topline revenues coupled with improvements in profitability was not just a theme for the quarter, but for the full year 2019 as well.

“During the fourth quarter, we added 34 net new live miles, 16 of which were in three new cities in Puerto Rico. We also added Dayton, OH, as a new city and experienced zero customer attrition. These operational achievements were integral to the 82 net new live miles we added in 2019. During the year, we also made strategic investments to improve our customer success and go-to-market capabilities, which we believe have enhanced our ability to capitalize on new opportunities.

“Thanks to the grit of the ShotSpotter team and our mission-fueled execution, we stayed on point and entered 2020 with significant momentum. We started the year with approximately $43 million in annual recurring revenue and expect to grow topline GAAP revenues by approximately 20% in 2020 compared to 2019, while continuing to generate net income on an annual basis. Our mission remains unc

GUIDANCE:

The company is reaffirming its financial guidance for the full year of 2020. The company currently expects revenues of $48 million to $50 million

For earnings history and earnings-related data on Shotspotter (SSTI) click here.

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