SoundThinking, Inc. (NASDAQ:SSTI) Q4 2023 Earnings Conference Call February 27, 2024 4:30 PM ET

Company Participants

Ralph Clark - President, CEO & Director

Alan Stewart - CFO

Conference Call Participants

Richard Baldry - ROTH Capital

Michael Latimore - Northland Capital Markets

Rustam Kanga - Citizens JMP

Yi Fu Lee - Cantor Fitzgerald

Operator

Good afternoon, and welcome to SoundThinking's Fourth Quarter and Full Year 2023 Conference Call. My name is Paul, and I will be your operator for today's call. Joining us are SoundThinking's CEO, Ralph Clark; and CFO, Alan Stewart.

Please note that certain information discussed on the call today will include forward-looking statements about future events and SoundThinking's business strategy and future financial and operating performance. These forward-looking statements are only predictions and are subject to risks and uncertainties and assumptions that are difficult to predict and may cause the actual results to differ materially from those stated or implied by these statements.

Certain of these risks and assumptions are discussed in SoundThinking's SEC filings, including its registration statement on Form S-1. These forward-looking statements reflect management's beliefs, estimates and predictions as of the date of this live broadcast, February 27, 2024, and SoundThinking undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call.

Finally, I would like to remind everyone that this call will be recorded and made available for replay via a link available in the Investor Relations section of the company's website at ir.soundthinking.com.

Now I would like to turn the call over to SoundThinking's CEO, Ralph Clark. Sir, please proceed.

Ralph Clark

Good afternoon, and thank you for joining us today. Alan and I have a lot to cover in today's earnings call. So we're going to go ahead and get started. Fiscal 2023 was significant for us, starting with our transformational rebrand to SoundThinking and the introduction of our SafetySmart platform that includes a suite of complementary solutions that are extremely powerful.

The SafetySmart platform fairly signaled our broad ambitions to move beyond the acoustic gunshot detection space, primarily focused on domestic law enforcement and to embrace new solutions with new commercial vertical markets and new buying centers. Two very important developments that capstoned that 2023 transformation journey are the closing of a greater than $13 million CaseBuilder deal with New York City Department of Corrections that we expect to grow to be worth approximately $18 million in addition to our entry into the $25 billion weapons detection space with our strategic acquisition of SafePointe.