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EX - 99.1 2 ssti - ex99_1.htm EX - 99.1 ShotSpotter Exhibit 99.1 ShotSpotter Reports Third Quarter 2021 Financial Results Quarterly Revenues Increase 28 % Year - over - Year to $ 14.5 Million NEWARK , CA November 9 , 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 third quarter ended September 30 , 2021 . Third Quarter 2021 Financial and Operational Highlights Revenues increased 28 % to $ 14.5 million from $ 11.4 million for the same quarter of 2020 . Gross profit increased 25 % to $ 8.0 million ( 55 % of revenues ) from $ 6.4 million ( 57 % of revenues ) for the same quarter of 2020 . Net loss of $ 949,000 or $ ( 0.08 ) per basic and diluted share ( based on 11.7 million basic and diluted weighted average shares outstanding ) , from net income of $ 566,000 or $ 0.05 per basic and diluted share ( based on 11.4 million basic and 11.7 million diluted weighted average shares outstanding ) for the same quarter of 2020 . Adjusted EBITDA¹ was $ 2.2 million , or 15 % of revenues , from $ 3.3 million , or 29 % of revenues , for the same quarter of 2020 . Went " live " with ShotSpotter Respond in three new cities , had seven expansions in current customer cities , and booked two new campus customers without any customer or mileage attrition . Maintained a strong balance sheet with $ 13.1 million in cash and cash equivalents and $ 20.0 million available on the company's line of credit at the end of the quarter . Repurchased 26,404 shares for a total of approximately $ 0.9 million . ' See the section below titled " Non - GAAP Financial Measures " for more information about Adjusted EBITDA , and their reconciliation to GAAP net ( loss ) income . Management Commentary “ The third quarter marked another successful period for ShotSpotter , highlighted by 28 % year - over - year revenue growth and solid adjusted EBITDA generation , ” said ShotSpotter CEO Ralph Clark . “ Our robust growth trajectory is being driven by continued traction securing new wins , expanding deployments , and retaining customers . During the quarter , we went live with three new Respond cities , expanded in seven cities , and booked two new campus customers , demonstrating the effectiveness of our strategic growth initiatives . With our ongoing retention success , we expect that our revenue attrition this year will be less than 1 % , which is significantly lower than our original forecast and serves as a powerful testament to the stickiness of our solutions and the value our technology provides to agencies tasked with preventing and responding to violent crime .