SoundThinking Inc 2025年度报告

Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES☐NO☒ Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YES☐NO☒ Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.YES☒NO☐ Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). YES☒NO☐ Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered independent public accounting firm that prepared or issued its auditreport☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflectthe correction of an error to previously issued financial statements.◻ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any ofthe registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).◻ Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).YES☐NO☒ The number of shares of Registrant’s common stock outstanding as of March 30, 2026 was 12,953,937 Portions of the Registrant’s Definitive Proxy Statement relating to the Annual Meeting of Stockholders, scheduled to be held on June 3, 2026, are incorporated byreference into Part III of this Report. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission no later than 120 days following the end ofthe Registrant’s fiscal year ended December 31, 2025. Table of Contents Special Note Regarding Forward-Looking StatementsRisk Factors Summary 12 PART I BusinessRisk FactorsUnresolved Staff CommentsCybersecurityPropertiesLegal ProceedingsMine Safety Disclosures Item 1.Item 1A.Item 1B.Item 1CItem 2.Item 3.Item 4. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities61[Reserved]61Management’s Discussion and Analysis of Financial Condition and Results of Operations62Qualitative and Quantitative Disclosures About Market Risk76Financial Statements and Supplementary Data77Changes in and Disagreements with Accountants on Accounting and Financial Disclosure111Controls and Procedures111Other Information112Disclosure Regarding Foreign Jurisdictions that Prevent Inspections112 Item 6.Item 7.Item 7A.Item 8.Item 9.Item 9A.Item 9B.Item 9C. PART III Directors, Executive Officers, and Corporate GovernanceExecutive CompensationSecurity Ownership of Certain Beneficial Owners and Management and Related Stockholder MattersCertain Relationships and Related Transactions, and Directors IndependencePrincipal Accountant Fees and Services Item 10.Item 11.Item 12.Item 13.Item 14.PART IV Exhibits and Financial Statement Schedules114Form 10-K Summary114Exhibit Index115Signatures118 SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements that involve substantial risks and uncertainties. Theforward-looking statements are contained principally in the sections of this Annual Report on Form 10-K entitled “Risk Factors,”“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business,” but are also containedelsewhere in this Annual Report on Form 10-K. Often, you can identify forward-looking statements by the words “anticipate,”“believe,”“continue,”“could,”“estimate,”“expect,”“inten