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EX - 99.1 2 ssti - 20210810ex99_1.htm EX - 99.1 ShotSpotter ShotSpotter Reports Second Quarter 2021 Financial Results Exhibit 99.1 NEWARK , CA - Revenues Increase 30 % Year - over - Year to $ 14.6 Million August 10 , 2021 - ShotSpotter , Inc. ( NASDAQ : SSTI ) , a leader in precision policing technology solutions that enable law enforcement to more effectively respond to , investigate and deter crime , today reported financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Financial and Operational Highlights Revenues increased 30 % to $ 14.6 million from $ 11.3 million for the second quarter of 2020 . Gross profit increased 20 % to $ 8.3 million ( 57 % of revenues ) from $ 6.9 million ( 61 % of revenues ) for the second quarter of 2020 . Net loss of $ ( 250,000 ) from net income of $ 866,000 for the second quarter of 2020 . ☐ Adjusted EBITDA¹ was $ 2.9 million , or 20 % of revenues from $ 3.4 million , or 30 % of revenues for the second quarter of 2020 . Went " live " with ShotSpotter Respond in two new cities , one new security location and also had three expansions in current customer cities during the quarter . Maintained a strong balance sheet with $ 15.6 million in cash and cash equivalents and had $ 20.0 million available on the Company's line of credit at the end of the quarter . □ Repurchased 12,585 shares for a total of approximately $ 0.5 million . Reiterated full year 2021 revenue guidance of $ 60 million to $ 61 million , representing year - over - year growth of 32 % . ¹See the section below titled " Non - GAAP Financial Measures " for more information about Adjusted EBITDA , and their reconciliation to GAAP net ( loss ) income . Management Commentary “ During the second quarter , we again delivered 30 % year - over - year revenue growth while generating strong gross profit and adjusted EBITDA , " said ShotSpotter CEO Ralph Clark . “ Our financial performance was driven by the addition of two new Respond cities and three Respond city expansions in the second quarter coupled with no attrition . Additionally , initial feedback and progress on our Q3 deployments are encouraging with staffing of new city and expansions already well underway . We believe our ongoing success landing new customers and expanding with existing customers demonstrates the effectiveness of our end - to - end Precision Policing Platform and the positive impact it has on reducing gun violence and keeping communities safe . " Our continued forward momentum gives us confidence to reiterate our outlook for 2021 , which includes more than 30 % revenue growth and net income profitability in 2021. Our positive outlook reflects the improving demand environment for our core ShotSpotter Respond solution , including its strong retention , increased upsell of our ShotSpotter Connect offering and good visibility into second half go - live cadence of ShotSpotter Respond , Connect and now Investigate . " Second Quarter 2021 Financial Results Revenues for the second quarter of 2021 increased 30 % to $ 14.6 million from $ 11.3 million for the same period in 2020. The increase in revenues reflects an increase in new live miles and customer expansions as well as contribution from LEEDS , which was acquired in the fourth quarter of 2020 .