SoundThinking Inc 2024年度报告
April 24, 2025 Dear Fellow Stockholders, Ƥ͗ǑĠ͗ƜĠȎĠđư͗Ŷū͗̒̐̒̔͗òūĘ͗ŠŶŶŜ͗òŃĠòĘ͗ưŶ͗ưŃĠ͗ĺƸưƸƜĠ͗͞V͗òũ͗ʼnūđƜĠĘʼnďŠǗ͗ƙƜŶƸĘ͗Ŷĺ͗ưŃĠ͗ƙƜŶĻƜĠƤƤ͗ǑĠ͗ŃòǐĠ͗ũòĘĠ͗ʼnū͗òĘǐòūđʼnūĻ͗ŶƸƜ͗ũʼnƤƤʼnŶū͗͟ưŶ͗ũòŜĠ͗đŶũũƸūʼnưʼnĠƤ͗ƤòĺĠƜ͗ưŃƜŶƸĻŃ͗ʼnūūŶǐòưʼnǐĠ͗ưĠđŃūŶŠŶĻǗ͗͞data-ĘƜʼnǐĠū͗ ʼnūƤʼnĻŃưƤ͗ òūĘ͗ ƤưƜŶūĻ͗ ƙòƜưūĠƜƤŃʼnƙƤ͗ ǑʼnưŃ͗ ŠòǑ͗ ĠūĺŶƜđĠũĠūư͗agencies͗͝»ŃƜŶƸĻŃ͗ŶƸƜ͗đŶŠŠĠđưʼnǐĠ͗ĠĺĺŶƜưƤ, we are helping agenciesďĠđŶũĠ͗ũŶƜĠ͗ĠĺȍđʼnĠūư͗͞ĠĺĺĠđưʼnǐĠ͗ òūĘ͗ ĠƛƸʼnưòďŠĠ͗ ʼnū͗ ƙƜŶĘƸđʼnūĻ͗ ƙƸďŠʼnđ͗ ƤòĺĠưǗ͗ ŶƸưđŶũĠƤ͗͝ ÚŃʼnŠĠ͗ ďĠʼnūĻ͗ ƙƸƜƙŶƤĠ-driven, we alsoĘĠŠʼnǐĠƜĠĘ͗ƤưƜŶūĻ͗ĠǖĠđƸưʼnŶū͗òđƜŶƤƤ͗ŶƸƜ͗ďƸƤʼnūĠƤƤ—accelerating innovation,ĠǖƙòūĘʼnūĻ͗ òĘŶƙưʼnŶū͗ Ŷĺ͗ ŶƸƜ͗ ƙŠòưĺŶƜũ͗andƜĠũòʼnūʼnūĻ͗ đŶũũʼnưưĠĘ͗ ưŶ͗ ĘƜʼnǐʼnūĻ͗ ƙƜŶĺʼnưòďŠĠ͗growth. ĠŠŶǑ͗òƜĠ͗ƤŶũĠ͗ŜĠǗ͗ưŃĠũĠƤ͗ưŃòư͗ĘĠĺʼnūĠĘ͗ŶƸƜ͗ƙĠƜĺŶƜũòūđĠ͗ʼnū͗̒̐̒̔͗òūĘ͗ǑʼnŠŠ͗ƤŃòƙĠ͗ŶƸƜ͗ƙƜʼnŶƜʼnưʼnĠƤ͗ʼnū͗ưŃĠ͗ǗĠòƜƤ͗òŃĠòĘ͝ Sound Execution and Strong Financial Performance We wereƙŠĠòƤĠĘ͗ưŶ͗ƜĠƙŶƜư͗ƜĠđŶƜĘ͗ƜĠǐĠūƸĠ͗Ŷĺ͗Ξ̑̐̒̐͗͝ũʼnŠŠʼnŶū͗ʼnū͗̒̐̒̔͗͞ƜĠƙƜĠƤĠūưʼnūĻ͗̑̐ώ͗ĻƜŶǑưŃ͗ŶǐĠƜ͗̒̐̒̓͗͝ »ŃʼnƤ͗ƙĠƜĺŶƜũòūđĠ͗đòũĠ͗ĘĠƤƙʼnưĠ͗ƤŶũĠ͗ĠòƜŠǗ͗ũòƜŜĠư͗ŃĠòĘǑʼnūĘƤ͗òūĘ͗theĘĠŠòǗŶĺ͗òƙƙƜŶǖʼnũòưĠŠǗ͗Ξ̓͗̕͝ũʼnŠŠʼnŶū͗ʼnū͗ƜĠǐĠūƸĠĺƜŶũ͗two contract renewals with theʼnưǗ͗Ŷĺ͗vĠǑ͗àŶƜŜ͗͞ǑŃʼnđŃ͗ǑĠƜĠ͗ƜĠūĠǑĠĘ͗ʼnū͗ưŃĠ͗ĺʼnƜƤư͗ƛƸòƜưĠƜ͗Ŷĺ͗̒̐̒͗̕ʼnūƤưĠòĘ͗Ŷĺlate in theǗĠòƜ͗͝ƸƜ͗ĻƜŶƤƤ͗ƙƜŶĺʼnư͗ǑòƤ͗Ξ̗̙͗̕͝ũʼnŠŠʼnŶū͗͵̗̕ώ͗Ŷĺ͗ƜĠǐĠūƸĠͶ͗͞òūĘ͗ĘřƸƤưĠĘ͗0 V»'̑wasΞ̑̔̔͗͝ũʼnŠŠʼnŶū͗͞in lineǑʼnưŃ͗ưŃĠ͗ƙƜʼnŶƜ͗ǗĠòƜ͝ While the non-ƜĠūĠǑòŠ͗ Ŷĺ͗ ŶƸƜ͗ đŶūưƜòđư͗ ʼnū͗ŃʼnđòĻŶ͗ ǑòƤ͗ ò͗ ūŶưòďŠĠ͗ ĠǐĠūư͗͞ ʼnư͗ ŃòƤ͗ūŶư͗changed our positiveưƜòřĠđưŶƜǗand moreover,ǑĠ͗ďĠŠʼnĠǐĠ͗their recentŠǗƙƸďŠʼnƤŃĠĘ͗§I¤͗ĺŶƜ͗ĻƸūƤŃŶư͗ĘĠưĠđưʼnŶū͗ƤǗƤưĠũƤ͗ƸūĘĠƜƤđŶƜĠƤ͗ưŃĠ͗ǐòŠƸĠ͗Ŷĺ͗ĻƸūƤŃŶư͗ĘĠưĠđưʼnŶū͗ưĠđŃūŶŠŶĻǗ.ÚĠ͗ĠūĘĠĘ͗ưŃĠ͗ǗĠòƜ͗ǑʼnưŃ͗Ξ̙̖͗̕͝ũʼnŠŠʼnŶū͗ʼnū͗ūūƸòŠ͗§ĠđƸƜƜʼnūĻ͗§ĠǐĠūƸĠ͗͵§§Ͷ2and entered ̒̐̒͗̕ǑʼnưŃ͗ ƤưƜŶūĻ͗ ĺŶƜǑòƜĘ͗ ũŶũĠūưƸũ͗͞ ò͗ ŃĠòŠưŃǗ͗ ƙʼnƙĠŠʼnūĠ͗ òūĘ͗ ʼnūđƜĠòƤĠĘ͗ ƜĠǐĠūƸĠ͗ òūĘ͗ĘřƸƤưĠĘ͗0 V»'͗ĻƸʼnĘòūđĠ3rangesĺŶƜ͗̒̐̒͗̕òūĘ͗ʼnūđƜĠòƤĠĘ͗§§͗ĻƸʼnĘòūđĠĺŶƜ͗ưŃĠ͗ƤưòƜư͗Ŷĺ̖͗̒̐̒͗͝¯ƙĠđʼnĺʼnđòŠŠǗ͟ x§ĠǐĠūƸĠ͗ JƸʼnĘòūđĠ§òūĻĠ:Ξ̑̑̑ũʼnŠŠʼnŶū͗ ưŶ͗ Ξ̑̑̓͗ ũʼnŠŠʼnŶū͗ ĺŶƜ͗̒̐̒͗̕ ͵̑̐ώ͗ àear-over-àear growth at the midpointͶxĘřƸƤưĠĘ͗0 V»'͗tòƜĻʼnūJƸʼnĘòūđĠ§òūĻĠ͗̒̑͟ώ–̒̓ώĺŶƜ͗̒̐̒̕x§§͗ƸưŠŶŶŜ͗͟0ǖƙĠđưĠĘ͗ưŶ͗ĻƜŶǑ͗§§͗ďǗ͗Ξ̑̔̔͗͝ũʼnŠŠʼnŶū͗ưŶ͗Ξ̑̑̐͗ũʼnŠŠʼnŶūat the startŶĺ̖͗̒̐̒ We also tookũĠòūʼnūĻĺƸŠ͗steps to return capital to stockholders, repurchasing over ̘̔̑̐̐̐͗͞ƤŃòƜĠƤ͗òư͗òū͗òǐĠƜòĻĠ͗ƙƜʼnđĠ͗Ŷĺ͗Ξ̑̔̓̑͝per share͗͞ưŶưòŠʼnūĻ͗Ξ̖̐͗͝ũʼnŠŠʼnŶū͗͝ƸƜ͗đòƤŃòūĘ͗ đòƤŃ͗ ĠƛƸʼnǐòŠĠūưƤƙŶƤʼnưʼnŶū͗ ƜĠũòʼnūĠĘ͗ ƤŶŠʼnĘ͗ òư͗ Ξ̑̓̒͗͝ ũʼnŠŠʼnŶū͗͞ ǑʼnưŃ͗ Ξ̒̑̐͗͝ ũʼnŠŠʼnŶū͗òǐòʼnŠòďŠĠ͗Ŷū͗ŶƸƜ͗ŠʼnūĠ͗Ŷĺ͗đƜĠĘʼnư͗òư͗ǗĠòƜ-end 2024. Growth Across the SafetySmart Platform ƸƜ͗¯òĺĠưǗ¯ũòƜư™pŠòưĺŶƜũ͗ʼnƤ͗ūŶǑ͗ưŃĠ͗ĺŶƸūĘòưʼnŶū͗Ŷĺ͗ŶƸƜ͗ǐòŠƸĠ͗ƙƜŶƙŶƤʼnưʼnŶū—ò͗ƸūʼnĺʼnĠĘ͗͞ʼnūưĠĻƜòưĠĘ͗ƤƸʼnưĠ͗Ŷĺ͗ưŶŶŠƤ͗ưŃòư͗ʼnƤ͗ƙƜŶǐĠū͗ưŶ͗ĠǖĠđƸưĠ͗òư͗ƤđòŠĠ͗òūĘ͗ʼnƤ͗ǑŃòư͗ĘʼnĺĺĠƜĠūưʼnòưĠƤ͗ƸƤ͗in the marketplace. 2024ƤòǑ͗ũĠòƤƸƜòďŠĠadvancements across ourŜĠǗ͗ŶĺĺĠƜʼnūĻƤ: xShotSpotter®͗͟ÚĠūư͗ŠʼnǐĠ͗ʼnū͗̒̐͗ūĠǑ͗đʼnưʼnĠƤ͗òūĘ͗ĺʼnǐĠ͗ūĠǑ͗ƸūʼnǐĠƜƤʼnưʼnĠƤ͗͞ʼnūđŠƸĘʼnūĻ̖͗̑̒͗òĘĘʼnưʼnŶūòŠ͗ƤƛƸòƜĠ͗ũʼnŠĠƤ͗ǑʼnưŃ͗ò͗ƜĠưƸƜū͗ưŶ͗¤ƸĠƜưŶ͗§ʼnđŶ͗͝VūưĠƜūòưʼnŶūòŠ͗ĘĠƙŠŶǗũĠūưƤ͗now include ƜòǢʼnŠ͗͞¯ŶƸưŃ͗ĺƜʼnđò͗òūĘ͗ÂƜƸĻƸòǗ͗͝¯ŃŶư¯ƙŶưưĠƜ͗đŶūưʼnūƸĠƤ͗ưŶ͗ƤĠƜǐĠ͗òƤ͗ŶƸƜ͗òūđŃŶƜ͗ŶĺĺĠƜʼnūĻ͗͞ĘƜʼnǐʼnūĻ͗ũòƜŜĠư͗ĠūưƜǗ͗òūĘ͗đƸƤưŶũĠƜ͗ŠŶǗòŠưǗ͝x§ĠƤŶƸƜđĠ§ŶƸưĠƜ™͗͟JòʼnūĠĘ͗ũŶũĠūưƸũ͗ǑʼnưŃ͗ò͗ƤʼnĻūʼnĺʼnđòūư͗ūƸũďĠƜ͗Ŷĺ͗ūĠǑ͗đŶūưƜòđư͗ĠǖĠđƸưʼnŶūƤ͗ ǐƤ͗͝ ƙƜʼnŶƜ͗ ǗĠòƜƤòūĘ͗ ò͗ Ξ̔͗ ũʼnŠŠʼnŶū͗ ƙʼnƙĠŠʼnūĠ͗ ĺŶƜ͗̒̐̒͗̕͝We are seeingaĻĠūđʼnĠƤ͗ ĠũďƜòđʼnūĻ͗ §ĠƤŶƸƜđĠ§ŶƸưĠƜ͗ òƤ͗ ưŃĠ͗ ŶūŠǗ͗ ƜĠòŠ-time patrol managementƤŶŠƸưʼnŶū͗ĘĠŠʼnǐĠƜʼnūĻ͗ũĠòƤƸƜòďŠĠ͗ĻòʼnūƤ͗ʼnū͗ĠĺĺʼnđʼnĠūđǗ͗ òūĘ͗ŶĺĺʼnđĠƜ͗ƤòĺĠưǗ͝x¯òĺĠ¤ŶʼnūưĠ®͗͟ÚĠ͗ŠòƸūđŃĠĘ͗ưŃĠ͗ūĠǖư͗ĻĠūĠƜòưʼnŶū͗Ŷĺ͗ŶƸƜ͗ǑĠòƙŶūƤ͗ĘĠưĠđưʼnŶū͗ƤŶŠƸưʼnŶū͗ǑʼnưŃ͗ ʼnūưĠĻƜòưĠĘ͗̓ '͗ đòũĠƜò͗ ưĠđŃūŶŠŶĻǗ͗ òūĘ͗ ¯-̒ͪQV¤͗ đŶũƙŠʼnòūđĠ—ŜĠǗ͗ ĘʼnĺĺĠƜĠūưʼnòưŶƜƤ͗ ưŃòư͗ ĠūòďŠĠĘ͗ ƙʼnŠŶư͗ đŶūưƜòđư͗ ǑʼnūƤ͗ ǑʼnưŃ͗ ưǑŶ͗ Ŷĺ͗ ưŃĠ͗ ŠòƜĻĠƤư͗ Â͝¯͗͝ŃŶƤƙʼnưòŠ͗ƤǗƤưĠũƤ͝ x¤ŠòưĠ§òūĻĠƜ™ƙŶǑĠƜĠĘ͗ďǗ͗§ĠŜŶƜ®͗͟»ŃƜŶƸĻŃ͗ŶƸƜ͗ƤưƜòưĠĻʼnđ͗ƙòƜưūĠƜƤŃʼnƙ͗ǑʼnưŃ͗§ĠŜŶƜ¯ǗƤưĠũƤ͗͞ Vūđ͝, weĘĠƙŠŶǗĠĘa co-ďƜòūĘĠĘ͗advanced license plate recognition͵j¤§Ͷsolution that isưʼnĻŃưŠǗ͗ ʼnūưĠĻƜòưĠĘ͗ ǑʼnưŃ͗ ¯ŃŶư¯ƙŶưưĠƜ͗ òūĘ͗ƜʼnũĠ»ƜòđĠƜ͗͞creating a seamless response and investigativeđòƙòďʼnŠʼnưǗĺŶƜ͗ đƸƤưŶũĠƜƤ͗ ǑŃŶ͗ʼnũƙŠĠũĠūư͗ŶƸƜ͗ƙŠòưĺŶƜũ͗ŶĺĺĠƜʼnūĻ͝xCaseBuilder™͗͟»ŃĠ͗ƸƤĠ͗đòƤĠƤ͗ĺŶƜ͗òƤĠ ƸʼnŠĘĠƜ͗đŶūưʼnūƸĠ͗ưŶ͗ĠǖƙòūĘ͗ŶƸưƤʼnĘĠ͗Ŷĺ͗ưŃĠ͗ưƜòĘʼnưʼnŶūòŠ͗ŠòǑ͗ĠūĺŶƜđĠũĠūư͗spaceòūĘ͗ūŶǑ͗ʼnūđŠƸĘĠ͗'ĠƙòƜưũĠūưƤ͗Ŷĺ͗ŶƜƜĠđưʼnŶūƤ͗and state-ŠĠǐĠŠ͗ʼnūǐĠƤưʼnĻòưʼnǐĠ͗òĻĠūđʼnĠƤ͗͝ÚŃʼnŠĠ͗ƤưʼnŠŠ͗ʼnū͗ĠòƜŠǗ͗ƙŃòƤĠƤ͗͞theĺĠĠĘďòđŜ͗ŃòƤ͗ďĠĠū͗ĠūđŶƸƜòĻʼnūĻwith respect to a strong product-ũòƜŜĠư͗ĺʼnư.xCrimeTracer™͗͟ƸƜ͗ ʼnũƙƜĠƤƤʼnǐĠŠǗ͗ ŠòƜĻĠ͗ƜʼnũʼnūòŠ͗ fƸƤưʼnđĠ͗ VūĺŶƜũòưʼnŶū͗ ¯ĠƜǐʼnđĠƤ͗Division͵fV¯ͶĘòưò͗ĺŶŶưƙƜʼnūư͗đŶūưʼnūƸĠƤ͗ưŶ͗ĻƜŶǑ͗òūĘ͗ƜĠƙƜĠƤĠūưƤ͗ò͗ƙƜŶƙƜʼnĠưòƜǗ͗Ęòưò͗lakeĺŶƜ͗ĺƸưƸƜĠ͗large language model /òƜưʼnĺʼnđʼnòŠ͗ʼnūưĠŠŠʼnĻĠūđĠ͵VͶ͗innovation thatđòū͗ òđđĠŠĠƜòưĠ͗ ʼnūǐĠƤưʼnĻòưʼnŶūƤ͗ òūĘ͗ ʼnūưĠĻƜòưĠ͗ òūĘ͗ ĠūŃòūđĠ͗ ŶưŃĠƜ͗ ¯òĺĠưǗ¯ũòƜư͗solutions. ƸƜ͗ ƙƜŶĘƸđư͗ ƜŶòĘũòƙ͗ ʼnƤ͗ ĘƜʼnǐĠū͗ ďǗ͗ ŶƙĠƜòưʼnŶūòŠ͗ ĺĠĠĘďòđŜ͗ òūĘ͗ ďƸʼnŠư͗òƜŶƸūĘ͗ ƜĠòŠ-worldcustomerūĠĠĘƤ͗͝ ÚĠ͗ òƜĠ͗ ƙƜŶƸĘ͗ ưŶ͗ ƤƸƙƙŶƜư͗ ĺƜŶūưŠʼnūĠ͗ ƙƜŶĺĠƤƤʼnŶūòŠƤ͗ ǑʼnưŃ͗ ưŶŶŠƤ͗ ưŃòư͗ òƜĠ͗òđđĠƤƤʼnďŠĠ͗͞ʼnūưĠŠŠʼnĻĠ ūư͗òūĘ͗ʼnūưĠƜŶƙĠƜòďŠĠ͝ Thinking about the Artificial Intelligence and Machine Learning Opportunity ƜưʼnĺʼnđʼnòŠ͗VūưĠŠŠʼnĻĠ ūđĠ͗òūĘ͗tòđŃʼnūĠ͗jĠòƜūʼnūĻ͵tjͶòƜĠ͗ūŶư͗řƸƤư͗ďƸǢǢǑŶƜĘƤ͗ĺŶƜ͗ƸƤ—ưŃĠǗ͗òƜĠ͗ĺƸūĘòũĠūưòŠ͗ ĠūòďŠĠƜƤ͗ Ŷĺ͗ ưŃĠ͗ ūĠǖư͗ ĻĠūĠƜòưʼnŶū͗ Ŷĺ͗ ƙƸďŠʼnđ͗ ƤòĺĠưǗ͗ ƤŶŠƸưʼnŶūƤ͗͝ ư͗¯ŶƸū
