ShotSpotter *****
*********** *** * ****** *******, the **** ** ************** product/service **** ********* ****** find *********: ****** ******** with *********** ****** ********** a ****, *** **** use ********** ** **** police ** *** ******** of ***** ********. ** doing **, **** *** to **** ****** ******* shooters, *** *** ******* help ** ******* *******, and ** ********* ****** overall *****, *** *** cost ** ******* **** gunshot ******, *** ***** customers.
**** * ***** ********, *********** sells ***** ******* ** an ******* ******** **********, and **** * ******* subscription, ************* ********** * steady ****** ** ****-******* revenue, ******* ********** ******* for *********.
Current ******** ****
********* ** * ************ for ***********, *** ******* has ~** ***********, ********* in *** **, *** with **** ************* *********** as ****. ***** *** all ******/********* ********* ********* to ***********.
History ** ********* / *********
***** *** ******* ** gunshot ********* ** **** to **********, ************ ** with ******* ********** *** not **** ****. *********** has *** ******** ******* of *** ****** ******* to ******* ** *** promises, *********:
*** ******* *** ***** steps **** *** ***** to **** ******* ********, including ******** *** ***** own ********** ****** **** analyzes *** ***** **** suspected ******** ****** ********* police ** ******* ** reduce ***** ******.
*********** ** *** ******* success *******, ********* * recent **** ** ******, CA***** ****** ********** ***** ability ** ******* ******* to *** *********** ******.
Funding *** *********** ** ****
*********** *** ****** ~$*** since ** *** ******* in ****, *** ***** full ********** *** *** available *** *** ***** of *********, *** ******* has ****** ** *** never **** **********, ******* losses ** $*.** ** 2016 *** $*.** ** 2015. *** ******* **** has ~$*.* ******* ** cash ** **** ** of ***** **, ****.
Revenue $**.* ******* / ***
***********'* **** ******* *** $15.5 ******* ***, ***** is ******* ********** ** a $*.** ******* *** business, ***** ***** ** solid *** ** *********** alarm ********** ******* *** not *** * ** backed **+ **** *******. As * ***** ** comparison,******** ***** ***, * ****** *******, smaller *******, *** ******* twice *** *** ** ShotSpotter.
Revenue ********** / ****** ********** **********
******* **** ************ *-* ********** * ******** ********* ***** **** the **** ****, **** a ~**% ******** ** revenue, ** $**.** ** 2016, ***** **** ********** operating ******** ~**%:

*******, ****** *** ***** quite ****, ** ~-**% of *******.
*********** *** ****** **** recent ******, **** ** indoor *** ********* *******, international *********, *** *** ability ** ****** *** markets/customers **** ** *********** campuses *** ******** ***** for *** ******* ** continue **** *****.
SaaS / *** ** *** *****
*********** ******** ***** ****** on * ************ *****, where ********* **** ******** to *** ******** ** order ** ******* *** product. ********* ** *** S-1 ******, *********** ****** renewal ***** ** ** high:
*** ********** *** ****, and ** ****** **** continue ** **, **** after *** ******* ************** of *** *********, ****** all ** *** *** customers ***** ***** ****** subscriptions, *** **** **** choose ** ****** ***** coverage ****.
***** ******** *********** ***** related ** ******* ******** deployment *** ************ *** ** ****, ** newer ********* *** ** satisfied ** *********** ******, it ** ****** **** will ******** ** ***** for * ****** ** more. **** ****-**** ************, and ******* *******, ** a *** ********* ** ShotSpotter's ***** ***********.
Profitability *********
*********** ***** ************* ********* most ** *** ****** by ******* ***** *** ********* expenses, ******** *** ******* could ****** ********** ** they ******* ******** *** customers *** ****** ********* service ** ******** *********. While **** ** ******** (and *** *******), ** does ******** *** ********* *** profitability ** ********** *** bring ** **** *********, as *** *** ***** provides ****** ****** ******** from **** ********, **** little ********** *****/********* ****.
Company ********* ********
*** ******* *** *** yet ********* * *********, making ** ********** ** analyze *** $**.** ****** offering ******** ** *** company *******. ***** *** $70M ******** *******, ******* with ******* ******, ********* is ****** ** ** relatively ***.
Use ** *****
*** ********* ******** **** the ***** ***** ****** will ****** ** **** to ******** *****/********* *******, potentially ********* **** ***-*** enforcement *********, **** ** universities.
Challenging ******
*** ******* ********* ****** has *** **** ************ large, *********** *********** ** one ** *** **** well-known ********* ** **** space *** ***** ******** are ****** ** ****. The ******* ***** *********** from ********* **** ******* ********* ******* *** ****** ******** **** ********* ****** ******* detection, ** **** ******* ********* **** ** targeting ***** ******, *** ******* ***** companies **** ******. ************, ******** ** machine ********/** **** **** neural ******** *** ****** it ****** ** ** audio/video ******** *** **** extraction, ***** ***** ****** new ******* ********* ** target ***********'* ******, *********** reducing ************ ****** ** making ******* ********* ********** more ** * *********.
*********** ****** *** ******* more ***** ****** **** will ***** * ************* point, *** *** **** likely ** ********* **** challenges ***** *** *** to *************. *******, *** company **** **** *** benefit ** * ***** installed **** *** ************* of *** ****** **** their ****-**** *********** ** gunshot *********.
Update - ***
*********** ***** ** **** 7th ** $**, *** up **.*% ** *** first *** ** $**.** and ** *** *** of **** *** ******** modestly ** $**.**, ***** above *** *** *****, giving *** ******* * market ********* ** $*** *******.

Comments (14)
Jerry Wilkins
What impact will the use of a Suppressor have on the Type 2 error rate?
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Undisclosed Manufacturer #1
Brian - does IPVM have any plans to do an independent test on any of the gunshot technology?
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Undisclosed Manufacturer #2
Wait... So "Samaritan" or "The Machine" hasn't covertly bought up the company in its bid for global awareness?
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Undisclosed #3
What is the cost for equipment per sq mile covered?
What is the recurring cost per year per sq mile covered?
Does the benefit of being alerted to gunfire outweigh the costs incurred?
i.e. could those same costs provide more value spent on other 'safety' technologies available to LE and/or muni?
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John Honovich
Update:
ShotSpotter IPOed on June 7th at $11, was up 30.7% on its first day to $14.38 and by the end of June had reverted modestly to $12.79, still above the IPO price, giving the company a market valuation of $116 million.
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Undisclosed #3
Falls River, Massachusetts
2012:
Fall River’s new ShotSpotter device keeps an ear on crime
2017:
‘False alarms’ lead Fall River to ditch ShotSpotter system
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Undisclosed #3
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John Honovich
Update: ShotSpotter has more than doubled in market capitalization since they IPOed:
Though still reports of system problems recently: ShotSpotter CEO responds to end of Fall River agreement
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Paul Shah
I see them as becoming more and more part of the toolkit that the Police use. Once that happens, it doesn't need empirical data or even work. Other agencies will blindly follow. If its good enough for NYPD & CPD, its good enough for everyone else
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