SoundThinking Inc (SSTI) 2023 Q4 法說會逐字稿

Good afternoon, and welcome to SoundThinking 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.

下午好，歡迎參加 SoundThinking 第四季和 2023 年全年電話會議。我叫保羅，我將擔任您今天通話的接線生。加入我們的還有 SoundThinking 的執行長 Ralph Clark；和首席財務官艾倫·斯圖爾特。

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.

請注意，今天電話會議上討論的某些資訊將包括有關未來事件、SoundThinking 業務策略以及未來財務和營運績效的前瞻性陳述。這些前瞻性陳述僅是預測，並受到難以預測的風險、不確定性和假設的影響，並可能導致實際結果與這些陳述所陳述或暗示的結果有重大差異。

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.

SoundThinking 向 SEC 提交的文件（包括其 S-1 表格上的註冊聲明）中討論了其中的某些風險和假設。這些前瞻性陳述反映了管理層截至本直播日期（2024 年 2 月 27 日）的信念、估計和預測，SoundThinking 不承擔修改或更新任何前瞻性陳述以反映該日期之後的事件或情況的義務。這個電話。

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.

最後，我想提醒大家，本次電話會議將會被錄音，並可透過公司網站 ir.soundthinking.com 投資者關係部分的連結重播。現在我想將電話轉給 SoundThinking 的執行長 Ralph Clark。先生，請繼續。

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 safety smart platform that includes a suite of complementary solutions that are extremely powerful.

下午好，感謝您今天加入我們。艾倫和我在今天的財報電話會議上有很多內容要討論。所以我們要繼續並開始。2023 財年對我們來說意義重大，首先是我們將品牌轉型為 SoundThinking，並推出了我們的安全智慧平台，其中包括一套功能極其強大的補充解決方案。

The safety smart platform certainly signaled our broader ambition 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 capstones 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.

安全智慧平台無疑標誌著我們更廣泛的雄心，即超越聲學槍擊偵測領域，主要關注國內執法，並透過新的商業垂直市場和新的購買中心採用新的解決方案。2023 年轉型之旅的兩個非常重要的進展是與紐約市懲教署完成了價值超過1300 萬美元的CaseBuilder 交易，我們預計該交易價值將增長到約1800 萬美元，此外我們還涉足價值250 億美元的武器透過我們對 SafePointe 的策略收購，檢測空間。

So accordingly, we believe our market opportunity has significantly increased, yet remains largely underpenetrated and is incredibly attractive. Our proven ability to execute at scale as the company approaches $100 million in revenue with over 300 employees is encouraging as a proof point that we are up to the challenge to drive long-term profitable growth.

因此，我們相信我們的市場機會已顯著增加，但仍很大程度上未充分滲透，並且極具吸引力。隨著公司收入接近 1 億美元並擁有 300 多名員工，我們的大規模執行能力得到證實，這令人鼓舞，這證明我們有能力應對推動長期獲利成長的挑戰。

Our relentless focus on product innovation and quality, combined with our passion for the customer in developing deep trusted partnerships, provided an important opportunity to make an impact on making the world a better place and doing work that matters.

我們對產品創新和品質的不懈關注，加上我們對客戶發展深厚的值得信賴的合作夥伴關係的熱情，為我們提供了一個重要的機會，使世界變得更美好，並開展重要的工作。

Turning to Q4 2023 financial performance. Our revenues increased 24% to a quarterly record of $26 million from the prior year's $21 million in Q4 2022. Adjusted EBITDA came in at $4.8 million or 18% of revenues compared to $4.3 million or 20% of revenues for Q4 2022.

轉向 2023 年第四季的財務表現。2022 年第四季，我們的營收從前一年的 2,100 萬美元成長了 24%，達到季度紀錄的 2,600 萬美元。調整後 EBITDA 為 480 萬美元，佔營收的 18%，而 2022 年第四季為 430 萬美元，佔營收的 20%。

ShotSpotter went live with six new cities, including our third international deployment with a go live in the city of Montevideo, Uruguay, along with three expansions for the quarter. Q4 2023 also saw SafePointe deployments on over 30 lanes.

ShotSpotter 在六個新城市上線，包括我們在烏拉圭蒙得維的亞市上線的第三次國際部署，以及本季的三次擴展。2023 年第四季度，SafePointe 也部署在 30 多個車道上。

In addition to the case builder New York City Department of Corrections field, several other projects were kicked off for CaseBuilder crime tracer and resource routes. Revenues for the full year increased 14% to a record $92.7 million with a $14.3 million of adjusted EBITDA or 15% of revenues. ShotSpotter finished the year with 25 new cities, 19 expansions, and 155 miles taken live in a year. Our ShotSpotter go-live cadence represented a greater than 50% increase from last year.

除了紐約市懲教署領域的案例建構器之外，還啟動了其他幾個針對 CaseBuilder 犯罪追蹤器和資源路線的計畫。全年營收成長 14%，達到創紀錄的 9,270 萬美元，調整後 EBITDA 為 1,430 萬美元，佔營收的 15%。ShotSpotter 在這一年結束時新增了 25 個城市，擴建了 19 個城市，並在一年內上線了 155 英里。我們的 ShotSpotter 上線頻率比去年增加了 50% 以上。

Overall, we had another strong year with 107 new miles booked in 77 subscription renewals with 37.5% of those bookings representing multiyear agreement. Of note was the exceptional performance of our Tier 4, Tier 5 initiative, which represented almost 20% of the domestic new miles booked in 2023.

總體而言，我們又度過了強勁的一年，在 77 次續約中預訂了 107 英里新里程，其中 37.5% 的預訂代表了多年協議。值得注意的是我們的 Tier 4、Tier 5 計劃的出色表現，佔 2023 年國內新預訂里程的近 20%。

We view this specific vertical as a significant untapped TAM expansion opportunity and are keenly focused on continuing to build upon the successful inroads we've made in this largely untapped segment. We believe our customer retention results remain best-in-class for an operating SaaS company.

我們將這個特定的垂直領域視為一個尚未開發的重要 TAM 擴張機會，並熱切地致力於繼續鞏固我們在這個很大程度上尚未開發的領域所取得的成功進展。我們相信，對於經營 SaaS 公司來說，我們的客戶保留結果仍然是一流的。

In 2023, we were able to realize approximately only 1% of GAAP revenue attrition. As I reported on our last earnings call, our customer success organization, robust customer onboarding program, world-class net promoter collaborative process and score of 64%, are central to our customer retention strategy. In addition to helping drive positive outcomes that promote stickiness, it also contributes to a strong sales and marketing spend of only [$0.52 for a dollar's] worth of annualized contract value for 2023.

2023 年，我們僅實現了約 1% 的 GAAP 收入損耗。正如我在上次財報電話會議上所報告的那樣，我們的客戶成功組織、強大的客戶引導計劃、世界一流的淨推薦協作流程和 64% 的得分，是我們的客戶保留策略的核心。除了幫助推動提高黏性的正面成果外，它還有助於實現強勁的銷售和行銷支出，2023 年的年化合約價值僅為 [1 美元 0.52 美元]。

Now many of you have probably been following the news coverage of our situation in Chicago. We're very pleased to report that we reached a compromise with Mayor Johnson in order to prevent a disruption in the critical ShotSpotter service that was scheduled to end on February 16 when the then current term expires ShotSpotter has been serving the city of Chicago and its residents for over seven years.

現在你們中的許多人可能一直在關注我們在芝加哥的情況的新聞報導。我們非常高興地報告，我們與約翰遜市長達成了妥協，以防止關鍵的 ShotSpotter 服務出現中斷，該服務原定於2 月16 日當前任期到期時結束。ShotSpotter 一直在為芝加哥市及其周邊地區提供服務。居住七年以上。

And we believe the impact of pulling the plug on February 5 would have been less than optimal for everyone involved to now execute a contract extension as a term that ends in September, which provides Chicago with service through the historically challenging summer months of gun violence and both the Democratic National Convention and the Republican National Convention.

我們認為，2 月 5 日終止的影響對於所有參與者來說都不是最佳的，現在執行一份到 9 月結束的合約延期，為芝加哥提供服務，度過歷史上充滿挑戰的夏季槍支暴力和民主黨全國代表大會和共和黨全國代表大會。

There is an additional two months of reserve term that effectively carries the contract extension through November 22, 2024. We're incredibly inspired and grateful to have seen the large and vocal outpouring of support for the ShotSpotter solution received from local press downtown business interests, all other persons and the Chicago Police departments and most importantly, community members residing in our collective coverage areas.

還有兩個月的保留期，有效地將合約延期至 2024 年 11 月 22 日。我們非常受鼓舞，也很感激看到當地媒體、市中心商業利益集團、所有其他人和芝加哥警察局，以及最重要的是居住在我們集體覆蓋區域的社區成員對 ShotSpotter 解決方案的大力支持。

These residents have responded with an 85%-plus favorable rating for ShotSpotter according to a [1,000 research pool] we commissioned in January of this year. We intend to use the remaining time of the Chicago contract extension to continue our work with the Chicago Police Department on tracking and reporting out data and metrics as well as building upon and galvanizing the support we've seen over the past two weeks. We believe this will provide a compelling case to support CPDs continued use of this critical tool and hope the business case will be considered in Chicago's Go Forward Plan.

根據我們今年 1 月委託開展的一項 [1,000 人研究池]，這些居民對 ShotSpotter 的好評率超過 85%。我們打算利用芝加哥合約延期的剩餘時間繼續與芝加哥警察局合作，追蹤和報告數據和指標，並鞏固和激發我們在過去兩週獲得的支持。我們相信，這將提供一個令人信服的案例來支持 CPD 繼續使用這一關鍵工具，並希望該業務案例將在芝加哥的前進計劃中得到考慮。

Now despite some limited headwinds from our Chicago situation, we believe our overall safety for our platform. Demand drivers and funding sources remain strong, very increasing demands on cities to deal with elevated violent crime in a transparent fashion. While many agencies are materially under resource headcount-wise.

現在，儘管我們芝加哥的情況帶來了一些有限的阻力，但我們相信我們平台的整體安全性。需求驅動因素和資金來源仍然強勁，對城市以透明方式應對日益嚴重的暴力犯罪的要求越來越高。儘管許多機構的資源嚴重不足。

As a reference point, we published over 330,000 gunshot alerts in 2023. An overwhelming percentage of those alerts did not have a corresponding nine one one call, which hobbled to the efforts of any agency to respond to and investigate criminal gunfire as well as save lives. Given the demand drivers and the constructive funding environment, we continue to be bullish on our ability to drive profitable growth for the foreseeable near and medium term.

作為參考，我們在 2023 年發布了超過 33 萬起槍擊警報。這些警報中的絕大多數沒有相應的九一電話，這阻礙了任何機構應對和調查槍擊犯罪以及拯救生命的努力。考慮到需求驅動因素和建設性的融資環境，我們繼續看好我們在可預見的近期和中期推動獲利成長的能力。

We recently brought on significant senior leadership talent to help us scale over the next several years as we continue to innovate across our suite of proprietary technology solutions. We're establishing 2024 revenue guidance at $104 million to $106 million. Supporting that outlook is $95.4 million of annual recurring revenue as of January 1, 2024, combined with $6 million of booked professional services revenue through our technologic division and their work with both NYPD and New York City Department of Corrections.

我們最近引進了重要的高級領導人才，以幫助我們在未來幾年內擴大規模，同時我們將繼續在專有技術解決方案套件上進行創新。我們將 2024 年的收入指引確定為 1.04 億至 1.06 億美元。截至2024 年1 月1 日，年度經常性收入為9,540 萬美元，加上透過我們的技術部門及其與紐約警察局和紐約市懲教局的合作預訂的600 萬美元專業服務收入，支持了這一前景。

This then totaled $101 million, the remaining $3 million to $5 million of revenue, we expect to come from new sales of solutions from our safety smart platform that has $45 million in growing pipeline. We intend to continue to execute on top-line growth while being prudent in managing expenses to ensure we are delivering cash flow back to the business to continue to improve our balance sheet. And with that, let me turn the call over to Alan.

總計 1.01 億美元，其餘 300 萬至 500 萬美元的收入，我們預計將來自我們的安全智慧平台解決方案的新銷售，該平台的管道不斷增長，價值 4500 萬美元。我們打算繼續實現營收成長，同時謹慎管理費用，以確保我們將現金流回饋給業務，以繼續改善我們的資產負債表。接下來，讓我把電話轉給艾倫。

Thank you, Ralph. I'll cover highlights for both Q4 and 2023 as a whole. In Q4, we went live in six new cities, one of which was international and Montevideo, Uruguay and expanded with one commercial security customer. We also expanded with two current ShotSpotter cities and achieved revenue growth of 24% compared to the fourth quarter of 2022. We did lose two smaller customers with less than two miles of coverage indoor. That said, our 2023 GAAP revenue attrition, net of price increases was still the only 1% for the fourth year in a row.

謝謝你，拉爾夫。我將介紹第四季和 2023 年整個季度的亮點。第四季度，我們在六個新城市上線，其中之一是國際城市和烏拉圭蒙得維的亞，並擴展到了一個商業安全客戶。我們也擴大了目前 ShotSpotter 的兩個城市，與 2022 年第四季相比，營收成長了 24%。我們確實失去了兩個室內覆蓋範圍不到兩英里的較小客戶。也就是說，我們的 2023 年 GAAP 收入損耗（扣除額價格上漲）仍然是連續第四年僅有的 1%。

We also went live with three case builder customers, including the long awaited, the large contract with New York, New York City Department of Corrections, currently worth at over $13 million. We expect this to be worth approximately $80 million in total later this year to cover the six years of the contract. We are also pleased to report we had total bookings for the year of over $70 million across our various solutions.

我們還與三個案例建構客戶合作，其中包括期待已久的與紐約市懲教局簽訂的大額合同，目前價值超過 1300 萬美元。我們預計今年稍後的總價值約為 8000 萬美元，涵蓋合約的六年。我們也很高興地報告，今年我們各種解決方案的總預訂量超過 7000 萬美元。

Let me provide more details on the quarter, and then I will share some thoughts around 2023 and guidance for this year. Fourth quarter revenues came in at $26 million, an approximately 24% increase over the $21 million in the fourth quarter of 2022. Revenues increased primarily due to the increase of our deployed miles year over year as well as revenue growth from our expanding safety smart platform products.

讓我提供有關本季度的更多詳細信息，然後我將分享一些關於 2023 年的想法和今年的指導。第四季營收為 2,600 萬美元，比 2022 年第四季的 2,100 萬美元成長約 24%。收入的成長主要是由於我們部署的里程數逐年增加以及我們不斷擴大的安全智慧平台產品帶來的收入成長。

Gross profit for the fourth quarter was $15 million or 58% of revenue, a 26% increase over the $11.9 million or 57% of revenue for the prior year period. Gross margin for the fourth quarter was higher than the prior year period as our revenue base grows.

第四季毛利為 1,500 萬美元，佔營收的 58%，比去年同期的 1,190 萬美元（佔營收的 57%）成長了 26%。隨著我們營收基礎的成長，第四季的毛利率高於去年同期。

Our net income for the fourth quarter was $3.6 million for $0.29 per share on a 12.7 million weighted average shares outstanding on a basic basis, net $0.28 per share on a 12.9 million weighted average shares outstanding on a diluted basis.

我們第四季的淨利潤為 360 萬美元，每股 0.29 美元，基於 1,270 萬股加權平均流通股，稀釋後每股淨收益為 1,290 萬股。

This compares to a net loss of $1 million or $0.09 per share on a 12.2 million weighted average shares outstanding on both a basic and diluted basis for the prior year period. In Q4, our expenses for the quarter were reduced primarily due to a reduction in the contingent consideration liability related to both Forensic Logic and SafePointe earnouts of approximately $4.8 million as the related revenues in 2023 were lower than expected, and we reduce the expected future revenues per se.

相較之下，去年同期的基本和稀釋基礎上，1220萬股加權平均已發行股票的淨虧損為100萬美元，即每股0.09美元。第四季度，我們本季的支出減少，主要是由於與Forensic Logic 和SafePointe 收益相關的或有對價負債減少了約480 萬美元，因為2023 年的相關收入低於預期，並且我們減少了預期的未來收入本身。

Adjusted EBITDA for the fourth quarter was $4.8 million, an increase from the $4.3 million in the fourth quarter of 2022. As a reminder, adjusted EBITDA is calculated by taking our GAAP net income or loss and adding back interest taxes, depreciation, amortization, stock-based compensation, and acquisition-related expenses, including adjustments to our contingent consideration liability related to earn-outs. Our operating expenses for the fourth quarter were $10.6 million or 41% of revenue versus $11.9 million or 57% of revenue in the fourth quarter of 2022.

第四季調整後 EBITDA 為 480 萬美元，較 2022 年第四季的 430 萬美元增加。提醒一下，調整後的 EBITDA 是透過我們的 GAAP 淨收入或虧損並加回利息稅、折舊、攤提、股票補償和收購相關費用（包括與盈利相關的或有對價負債的調整）來計算的。我們第四季的營運費用為 1,060 萬美元，佔營收的 41%，而 2022 年第四季的營運費用為 1,190 萬美元，佔營收的 57%。

Breaking down our expenses. Sales and marketing expense for the fourth quarter was $7.4 million are 28% of total revenue versus $5.7 million or 27% of total revenue for the prior year period. We continue to focus on investing appropriately to grow our sales and marketing capabilities for all of our products. These investments are important for our continued growth, and we are seeing success as we continue to build our sales pipeline and expand our marketing efforts.

分解我們的開支。第四季的銷售和行銷費用為 740 萬美元，佔總收入的 28%，而去年同期為 570 萬美元，佔總收入的 27%。我們繼續專注於適當的投資，以提高我們所有產品的銷售和行銷能力。這些投資對於我們的持續成長非常重要，隨著我們繼續建立銷售管道和擴大行銷力度，我們正在看到成功。

We continue to focus on maintaining high levels of customer satisfaction, which helps keep our attrition rate low. Our R&D expenses for the fourth quarter were $3.2 million or 12% of total revenue compared to $2.5 million or 12% of total revenue for the prior year period. We continued to invest in increasing the functionality of all of products.

我們持續致力於維持高水準的客戶滿意度，這有助於維持較低的流失率。我們第四季的研發費用為 320 萬美元，佔總營收的 12%，而去年同期為 250 萬美元，佔總營收的 12%。我們持續投資增加所有產品的功能。

G&A expense for the quarter were $4.8 million or 18% of total revenue compared to $4 million or 90% of total revenue for the prior year period. G&A expenses in absolute dollars were reduced due to the $4.8 million reduction in the contingent consideration liability related to the Forensic Logic and SafePointe acquisitions.

本季的一般管理費用為 480 萬美元，佔總營收的 18%，而上年同期為 400 萬美元，佔總營收的 90%。由於與 Forensic Logic 和 SafePointe 收購相關的或有對價負債減少了 480 萬美元，以絕對美元計算的一般管理費用有所減少。

Our revenue results for 2023 were $92.7 million, an increase of 14% from 2022. The increase was primarily due to revenues related to significant expansion in customers using our gunshot detection solutions, having added 25 new customers, expanding in 19 customers, and going live in over 155 miles during the year. There was a slight addition of revenues from our new New York City Department of Corrections contract and SafePointe for less than $2 million combined.

我們 2023 年的營收為 9,270 萬美元，比 2022 年成長 14%。這一增長主要是由於使用我們的槍擊檢測解決方案的客戶數量顯著增加，增加了25 個新客戶，擴大了19 個客戶，並在這一年中上線了超過155 英里，從而帶來了收入。我們與紐約市懲教局的新合約和 SafePointe 的收入略有增加，總收入不到 200 萬美元。

Gross profit for 2023 was $52.7 million or 57% of revenue versus $46.8 million or 58% of revenue for the prior year. Our net loss for 2023 was $2.7 million, or $0.22 per share based on 12.4 million weighted average shares outstanding on both a basic and diluted basis. This compares to net income of $6.4 million or $0.52 per share based on 12.2 million basic weighted average shares outstanding and 12.3 million weighted average shares outstanding computed on a diluted basis for the prior year.

2023 年的毛利為 5,270 萬美元，佔營收的 57%，而前一年為 4,680 萬美元，佔營收的 58%。我們 2023 年的淨虧損為 270 萬美元，或每股 0.22 美元，基於基本和攤薄基礎上 1,240 萬股加權平均流通股計算。相較之下，根據前一年稀釋後計算的1,220萬股基本加權平均股和1,230萬股已發行加權平均股計算，淨利為640萬美元或每股0.52美元。

Adjusted EBITDA for 2023 was $14.3 million, a reduction from the $15.9 million in 2022. Our revenue retention rate remained positive at 107% in 2023 down from 124% in 2022. Additionally, our sales and marketing spend per dollar of new annualized contract value for the next 12 months was $0.52 per dollar in 2023 versus $0.40 per dollar in 2022.

2023 年調整後 EBITDA 為 1,430 萬美元，較 2022 年的 1,590 萬美元減少。2023 年，我們的營收保留率為 107%，低於 2022 年的 124%。此外，我們未來 12 個月每美元新年化合約價值的銷售和行銷支出，2023 年為每美元 0.52 美元，而 2022 年為每美元 0.40 美元。

Deferred revenue as of December 31st was $41.9 million versus $43.7 million at the end of 2022. We ended Q4 with $5.7 million in cash and cash equivalents similar to $5.8 million at the end of the prior quarter. At the end of 2023, we had $7 million of debt outstanding related to the partial funding of our SafePointe acquisition and approximately [$80 million] available on our line of credit if we ever need it.

截至 12 月 31 日的遞延收入為 4,190 萬美元，而 2022 年底為 4,370 萬美元。截至第四季末，我們的現金和現金等價物為 570 萬美元，與上一季末的 580 萬美元類似。截至 2023 年底，我們尚有 700 萬美元的未償債務，這些債務與我們收購 SafePointe 的部分資金有關，如果我們需要的話，我們的信貸額度中大約有 [8000 萬美元]。

Our annual recurring revenue started on January 1, 2024, was $95.4 million compared to $79.7 million that we started with in 2023. Our revenue guidance for 2024 is $104 million to $106 million. As Ralph explained and to provide a bit more detail as to how we got to that range that probably may help. We started with slightly over $95 million in ARR. We then went out and already booked $4 million of professional services from our technologic solutions division in support of ongoing New York City projects and then $2 million of professional services related to the case for deployment for the Department of Corrections.

自 2024 年 1 月 1 日起，我們的年度經常性收入為 9,540 萬美元，而 2023 年開始的年度經常性收入為 7,970 萬美元。我們對 2024 年的收入指引為 1.04 億至 1.06 億美元。正如拉爾夫所解釋的那樣，並提供更多有關我們如何達到該範圍的詳細信息，這可能會有所幫助。我們一開始的 ARR 略高於 9500 萬美元。然後，我們已經從我們的技術解決方案部門預訂了400 萬美元的專業服務，以支持正在進行的紐約市項目，然後又預訂了與該案件相關的200 萬美元的專業服務，以便部署到懲教署。

This gets us to a preliminary total just over $101 million. We expect to recognize another total $3 million to $5 million of revenue from accumulated of 2024 pipeline of greater than $44 million from domestic and international ShotSpotter SafePointe, as for a price change in resource for our bookings to get to our uninformed $106 million GAAP revenue guidance. We are also providing guidance for 2024 adjusted EBITDA. We expect our adjusted EBITDA to be higher than the 15% we achieved in 2023 and are raising our guidance range to between 18% and 20% in 2024. Now back to Ralph for some final thoughts, and then we'll be happy to take your questions.

這使我們的初步總額略高於 1.01 億美元。我們預計將從國內和國際ShotSpotter SafePointe 的2024 年累計超過4400 萬美元的管道中確認另外300 萬至500 萬美元的總收入，因為我們的預訂資源價格變化，以達到我們不知情的1.06 億美元GAAP收入指導。我們也為 2024 年調整後 EBITDA 提供指導。我們預計調整後的 EBITDA 將高於 2023 年實現的 15%，並將 2024 年指導範圍提高至 18% 至 20%。現在回到拉爾夫來徵求一些最後的想法，然後我們將很樂意回答您的問題。

Thanks, Alan. Let me take a moment to thank my fellow colleagues and partners for a truly remarkable 2023. We are all committed to and excited about continuing to build in service, Safer Communities and gathering places globally. Operator, I think we're now available to open it up for questions.

謝謝，艾倫。讓我花點時間感謝我的同事和合作夥伴，感謝他們度過了真正非凡的 2023 年。我們都致力於並為繼續在全球範圍內建立更安全的社區和聚集場所而感到興奮。接線員，我想我們現在可以打開它來提問了。

(Operator Isntructions) Richard Baldry, Roth Capital.

（操作說明）Richard Baldry，Roth Capital。

Thanks. And my understanding on the SafePointe is per lane and it might be about a 1 to 3 economic ratio versus your traditional ShotSpotter gunshot detection. So you added 30 lanes in the quarter. I'd be like adding another 10 square miles you go over the mathematics firm.

謝謝。我對 SafePointe 的理解是按車道計算的，與傳統的 ShotSpotter 槍擊檢測相比，它的經濟比率可能約為 1 比 3。因此，您在本季添加了 30 條車道。我想在數學公司上方再增加 10 平方英里。

And then the reason I'm asking is that would argue if that was a run rate, you're adding [40-ish a year] to what you're and [100 to 150] recently. Then it's a pretty significant new growth engine for you now. Is that 30 lane outlier? Is it something that's going to bounce around a little bit as you sort of get your legs under yourselves with that, how do we think about the sustainability of that type of execution? Thanks.

然後我問的原因是，如果這是一個運行率，你會在你現在的基礎上加上[每年40左右]和最近的[100到150]。那麼它現在對您來說是一個非常重要的新成長引擎。這是 30 條車道的異常值嗎？當你對此感到不安時，是否會出現一些反彈，我們如何考慮這種執行類型的可持續性？謝謝。

Yes. So this is Alan. I'll start. And then, Ralph, you can add additional comments or thoughts to come through the average price on a lane is somewhere between $17,000 and $20,000. So your numbers are pretty close. We have gotten some traction fairly well in the last quarter. And we do expect that as we continue to add capability, both sales, marketing and deployment as well, that will expand as we go into '24. From a profit standpoint, each one of those lanes costs are less than 50% of the actual price per lane. So we would expect that the gross margins to be significant as well.

是的。這就是艾倫。我開始吧。然後，拉爾夫，您可以添加額外的評論或想法，以了解一條車道的平均價格在 17,000 美元到 20,000 美元之間。所以你們的數字非常接近。我們在上個季度取得了相當好的進展。我們確實預計，隨著我們繼續增加銷售、行銷和部署方面的能力，隨著我們進入 24 年，這種能力將會擴大。從利潤的角度來看，每條車道的成本都低於每條車道實際價格的 50%。因此，我們預計毛利率也會很高。

And can you talk about the pipeline or the sustainability maybe of what you've seen so far, it seems to be some of the applications that can support are pretty large scale deployments and not just hundreds, possibly thousands. So where are you looking at starting small where the elephant hunting concept comes in sort of overall, how you're feeling about the opportunity there?

您能否談談到目前為止您所看到的管道或可持續性，似乎一些可以支援相當大規模部署的應用程序，而不僅僅是數百個，可能是數千個。那麼，您認為從整體上來說，大象狩獵概念是如何從小處開始的，您對那裡的機會有何看法？

Yeah. Hi, Rich, this Ralph. Is that question specifically to the SafePointe pipeline?

是的。嗨，里奇，這位拉爾夫。這個問題是專門針對 SafePointe 管道的嗎？

Yeah, or in general.

是的，或者說一般情況下。

Yeah. So I think it is worth noting that we have an overall pipeline of about $45 million or so, and it's growing about $10 million or so of that pipeline is associated with a SafePointe and it'ss growing every single day as we put kind of more of marketing resources around kind of discovery opportunities. I think our go to market motion strategy is really around kind of land-and-expand. Very similar to our experience with ShotSpotter is to kind of get some lanes going kind of show efficacy and then work with those corporate customers typically to expand our lane penetration within a physical enterprise and within a broader enterprise. So that's the strategy.

是的。因此，我認為值得注意的是，我們的整體管道約為4500 萬美元左右，而該管道中與SafePointe 相關的管道正在增長約1000 萬美元左右，並且隨著我們投入更多資金，它每天都在成長。圍繞著各種發現機會的行銷資源。我認為我們的市場策略實際上是圍繞著土地和擴張的。與我們在 ShotSpotter 方面的經驗非常相似，就是讓一些通道顯示出功效，然後通常與這些企業客戶合作，以擴大我們在實體企業和更廣泛的企業內的通道滲透率。這就是策略。

Right. And in terms of the step up to go-live on the traditional gunshot detection, the [155] in '23, that had been around [100] before it at its all-time highs. Do you feel like that's depleted anything -- depleted completed your pipeline near term at all? Or you feel like that's only beginning to see sort of a step-up in broader demand that that might not prove to be an outlier number? Thanks.

正確的。就傳統槍擊檢測的上線而言，23 年的 [155] ，在達到歷史最高點之前一直在 [100] 左右。你是否覺得這已經耗盡了任何東西——近期你的管道完全耗盡了？或者您覺得更廣泛的需求才剛開始增加，這可能不會被證明是一個異常數字？謝謝。

Sure. This is Ralph again. So I think it's worth noting for the I think past few years, it's been [a couple 100 -- 100 miles] kind of per year kind of cadence for go live. I think last year was an exceptional year with [155]. I think going forward, 2024, we're expecting to go live on fewer lanes. I would say definitely [north of 100, but probably south of 155].

當然。這又是拉爾夫。因此，我認為值得注意的是，我認為過去幾年，上線的節奏是每年 [100 - 100 英里]。我認為去年是不平凡的一年[155]。我認為，展望未來，到 2024 年，我們預計將在更少的車道上投入使用。我一定會說[100以北，但可能155以南]。

I think from a mix point of view, our expectation is that we're going to see much more international contribution. So on a revenue basis, so probably be a nice kind of uptick because as you know, we price a little bit higher on the international deployments, and we're really liking what we're seeing in terms of Europe with initial success with ShotSpotter, and we think that's going to lead some additional opportunities in Latin America.

我認為從綜合角度來看，我們的期望是我們將看到更多的國際貢獻。因此，從收入的角度來看，這可能是一個不錯的成長，因為如您所知，我們在國際部署上的定價稍微高一些，而且我們非常喜歡我們在歐洲看到的 ShotSpotter 的初步成功，我們認為這將為拉丁美洲帶來一些額外的機會。

And last from me and the now in running up the Department of Corrections contract, it's sort of the largest one you've seen to date. Have you had any fits and starts with that? Do you feel like it's running smoothly from any overall sort of feedback on how it is how that you think that will be your reference for going forward, et cetera. Thanks.

最後我想說的是，目前正在執行懲教署的合同，這是迄今為止你們所見過的最大的一份合同。你有過這樣的經驗嗎？從整體回饋來看，你是否覺得它運作順利，你認為這將是你前進的參考，等等。謝謝。

So this is Ralph again, it's very early, but it's going extremely well we have a very capable capable executive leading that effort with a very strong team of mostly the technologic team that's kind of been in around supporting NYPD over the years.

又是拉爾夫，現在還很早，但進展非常順利，我們有一位非常有能力的高管領導這項工作，還有一支非常強大的團隊，主要是多年來一直支持紐約警察局的技術團隊。

We've kind of grown that team to support our, um, our go-live efforts on the New York City Department of Corrections contract. And we do believe they're going to be a bellwether to other kind of corrections opportunities for our case builder solution, very similar again, to the way, New York Police Department. NYPD was a bit of a bellwether account for us with respect to shop Quattor.

我們已經壯大了這個團隊，以支持我們，嗯，我們在紐約市懲教署合約上的上線工作。我們確實相信，它們將成為我們的案例建構器解決方案的其他類型糾正機會的領頭羊，這與紐約警察局的方式非常相似。就 Quattor 商店而言，紐約警察局對我們來說是個領頭羊。

Thanks.

謝謝。

Michael Latimore, Northland Capital Markets.

麥可‧拉蒂摩爾 (Michael Latimore)，北國資本市場。

Yeah, thanks very much. So Ralph on that comment you just made about gunshot detection business internationally. Is the implication that comes you're expecting gunshot and bookings to be up year over year, even if the go-live miles are a little bit below?

是的，非常感謝。拉爾夫就您剛才對國際槍擊檢測業務發表的評論進行了評論。這是否意味著您預計槍擊事件和預訂量將逐年上升，即使上線里程略低一些？

Yeah. I was just commenting on the overall revenue mix. I think I'll be very clear. I think from a total miles point of view, our expectation is that we're going to be South probably of 155, but north of 100 square miles. And just the mix of those miles will include more international contribution.

是的。我只是評論整體收入組合。我想我會說得很清楚。我認為從總里程數的角度來看，我們的預期是，我們將向南行駛 155 平方英里，向北行駛 100 平方英里。這些里程的組合將包括更多的國際貢獻。

All right. Okay. So the revenue effects I guess the question is the revenue effect to them better than the 155 go-live miles from this year given the --

好的。好的。所以收入影響我想問題是對他們的收入影響比今年開始的 155 英里要好，因為--

Yes, I would as you point out specifically not coming on that. The question is like, okay, does that diminish our miles? Are those replaced by the additional international go-live files that we don't have a kind of dialed into that to that degree.

是的，正如您特別指出的那樣，我不會參與這一點。問題是，好吧，這會減少我們的里程嗎？那些是否被額外的國際上線文件所取代，而我們沒有那種程度的撥入。

Okay, yeah. And then does your guidance for fiscal '24 assume the Chicago contract goes through number November?

好吧，是的。那麼，您對 24 財年的指導是否假設芝加哥合約將在 11 月到期？

Yeah, this is Alan. So the contract actually goes to a November 22.

是的，這是艾倫。所以合約其實是到11月22日為止。

Got it. And then in terms of the case builder, some opportunities, obviously the corrections departments grade on that. You mentioned a couple of others in the pipeline do you have noticed notable prospects in the pipeline for CaseBuilder, seven-figure kind of range deals?

知道了。然後就案件建構者而言，一些機會，顯然懲教部門對此進行了評分。您提到了正在醞釀中的其他幾個項目，您是否注意到 CaseBuilder 的七位數範圍交易中的顯著前景？

Yes, I think it's a mix. There's not a lot of seven figure deal. There's probably no seven-figure deals in there, but I think there's plenty of six-figure deals in there along with two figure deals or five figure deals.

是的，我認為這是一個混合體。七位數的交易並不多。那裡可能沒有七位數的交易，但我認為那裡有很多六位數的交易以及兩位數或五位數的交易。

And just lastly, the $70 million of bookings that you referenced for '23, what kind of growth was that?

最後，您提到的 23 年預訂量為 7,000 萬美元，這是怎樣的成長？

Yeah, this is Alan. So it's pretty much the same as what we had last year. Ultimately, when you think about the bookings, sometimes it's a multiyear contract that gets a little higher, sometimes just one year, but it was still significant for the year for us are going to go first.

是的，這是艾倫。所以這與我們去年的情況幾乎相同。最終，當你考慮預訂時，有時這是一份多年期合同，價格會更高一些，有時只有一年，但這對於我們將首先進行的一年來說仍然很重要。

Okay. Thanks a lot.

好的。多謝。

Rustam Kanga, Citizens JMP.

Rustam Kanga，公民 JMP。

Good afternoon. Thanks for taking the question. This is Rus on for Trevor Walsh. The Duke laws, evaluation of the DPD deployment, talked about how ShotSpotter help was very clear now being PPD respond to more confirmed gunfire incidents. And then when with just 9-1-1 alone, how would you characterize those kind of third parties assessments and more broadly, do you feel that these can act as a catalyst to win over new city deployments? Thanks.

午安.感謝您提出問題。我是特雷弗沃爾什 (Trevor Walsh) 的羅斯。杜克大學法律對 DPD 部署進行了評估，談到了 ShotSpotter 如何幫助 PPD 應對更多已確認的槍擊事件。然後，當僅使用 9-1-1 時，您如何描述此類第三方評估，更廣泛地說，您是否認為這些可以成為贏得新城市部署的催化劑？謝謝。

Great. That's a great question. I think that the Duke study for Durham is very consistent with what we've seen kind of across our deployments. One is the significant underreporting issue of a traditional community. Again, part of that takes place. We know from experience and also several studies that 80% to 90% of community criminal gunfire goes unreported via traditional 9-1-1.

偉大的。這是一個很好的問題。我認為杜克大學對達勒姆的研究與我們在部署中看到的情況非常一致。一是傳統社區嚴重的漏報問題。再次，其中一部分發生了。根據經驗和多項研究，我們知道 80% 到 90% 的社區槍擊犯罪事件並未透過傳統的 9-1-1 報告。

Sort of that stands to reason that when you have an incredible tool like a response tool like ShotSpotter in the former vertical gunshot detection technology, you're going to be able to get much broader coverage. And because we are providing a very precise location and doing all this within 30 to 45 seconds or the trigger pull, we're going to see really significantly improved response rates literally to the docs.

按理說，當你擁有像以前的垂直槍擊檢測技術中的 ShotSpotter 這樣的響應工具這樣令人難以置信的工具時，你將能夠獲得更廣泛的覆蓋範圍。因為我們提供了非常精確的位置，並在 30 到 45 秒或扣動扳機的時間內完成所有這些工作，所以我們將看到文件的回應率真正顯著提高。

And once you equip the officers to be able to respond to gunfire very quickly and precisely in a much more comprehensive way, you're going to get good outcomes and those good outcomes take the form first and foremost of saving lives for many of those situations where gunfire rings out, you have a gunshot wound victim on the other end.

一旦你讓警察能夠以更全面的方式快速、準確地對槍聲做出反應，你就會獲得良好的結果，而這些良好的結果首先表現為在許多情況下拯救生命當槍聲響起時，另一端就有一名槍傷受刑人。

And so getting officers to the scenes of these events where they can render a life-saving. First State is incredibly important in terms of kind of saving and preserving lives, you're going to find more evidence on collecting shell casings running them through the Niobe system, which allows you to really speed up your investigations and find out who might be responsible for these types of events is also very important in preventative, I would say sometimes you're actually going to capture a trigger pullers.

因此，讓官員前往這些事件的現場，他們可以拯救生命。First State 在拯救和保護生命方面非常重要，你將找到更多透過 Niobe 系統收集彈殼的證據，這使你能夠真正加快調查速度並找出可能負責的人對於此類事件的預防也非常重要，我想說有時你實際上會抓住扣板機的人。

Sadly, they're not smart enough to take off after they fire that weapon. We know that does happen on an immaterial amount of time, not a significant percent, but enough to make a difference. And so if you can take a serial trigger pull off the street from a enforcement point of view, that's incredibly important.

可悲的是，他們不夠聰明，無法在發射武器後起飛。我們知道，這種情況確實會在很短的時間內發生，雖然比例不高，但足以產生影響。因此，如果從執法的角度來看，你可以在街上進行一系列的觸發，那是非常重要的。

And then lastly, I'll just add that when communities see police kind of responding very quickly and precisely to these events in a very respectful way, Guardians. It really does change the dynamic in the perception that communities have about law enforcement, which is critically critically important for our agencies to have that kind of engaged community support for them to be able to do the things that they do to kind of create Safer Communities.

最後，我要補充一點，當社區看到警察以一種非常尊重的方式對這些事件做出快速而準確的反應時，守護者。它確實改變了社區對執法的看法，這對我們的機構來說至關重要，獲得社區的支持，讓他們能夠做他們所做的事情來創造更安全的社區。

So all in all, it's a no-brainer from our point of view, if you're a city that has ongoing persistent gun violence to have a tool like this and seen the Duke study and other studies that we see to. I think Dennis may have done some work at Winston-Salem, as example, that just really kind of confirm the obvious value that a technology tool like this provides.

總而言之，如果您是一個持續存在槍支暴力的城市，並且看到了杜克大學的研究和我們看到的其他研究，那麼從我們的角度來看，擁有這樣的工具是理所當然的。例如，我認為丹尼斯可能在溫斯頓塞勒姆做了一些工作，這確實證實了像這樣的技術工具所提供的明顯價值。

Yi Fu Lee, Cantor Fitzgerald.

李毅夫，坎托‧費茲傑拉。

Thank you for taking my question and congrats on a strong finish to 4Q. Two for Ralph and one for Alan. One of the style, you know, double click on the Chicago exposure. Sounds like obviously the renewal in November. I was wondering if you guys could comment on what are the things you could do in the back that could help position yourself for, you know, the following, you know, and all of that is hard to predict the outcome of next year. But how can you get a downtick into a better position to for the next year, set a floor for Chicago.

感謝您提出我的問題，並祝賀第四季度圓滿成功。兩個給拉爾夫，一個給艾倫。其中一種風格，你知道，雙擊芝加哥曝光。聽起來顯然是 11 月的續訂。我想知道你們是否可以評論一下你們可以在後面做哪些事情來幫助自己定位，你知道，接下來的事情，你知道，所有這些都很難預測明年的結果。但如何才能在明年處於更好的位置，為芝加哥設定底線。

Sure. Thank you very much for that question. So first, I think it's important to point out that we've been in Chicago operating very successfully for a very, very long time over multiple mayors and also multiple Superintendents of police. And it's really all been around the idea of helping a city like Chicago that has so much criminal gunfire, enabling their officers, really to get to get the dots and getting these gunfire events and be able to again, have these life-saving interventions on from not having a gunshot wound victims of bleed out and the like.

當然。非常感謝你提出這個問題。首先，我認為重要的是要指出，我們在芝加哥很長一段時間以來一直在多位市長和多位警察局長的領導下運作得非常成功。這實際上是為了幫助像芝加哥這樣有如此多犯罪槍擊事件的城市，使他們的警察能夠真正掌握要點並了解這些槍擊事件，並能夠再次採取這些挽救生命的干預措施來自沒有槍傷的受害者流血等。

And so I think for us, our focus is going to be to continue to provide the high level of kind of high quality support that we've had that we've had over the years with Chicago and really begin to collect more data. I mean, the data is definitely understood within certainly within Chicago Police Department. But I think we can collectively do a better job being a more outward facing and transparent with the good data that we know Chicago PD is collecting in terms of those outcomes and exposing them to a kind of broader audience of residents of city council.

因此，我認為對我們來說，我們的重點將是繼續提供多年來與芝加哥合作的高水準、高品質的支持，並真正開始收集更多數據。我的意思是，芝加哥警察局內部肯定能夠理解這些數據。但我認為，我們可以共同做得更好，利用芝加哥警察局正在收集的這些結果的良好數據，使其更加外向和透明，並將其暴露給更廣泛的市議會居民受眾。

The mayor's office and even local local press. And we're very fortunate and we're very happy to have reached an agreement with the city and with the mayor to extend the service through November. We know we're going through a and we're going to go through a challenging summer. We've seen this movie several years. And so there's going to be a lot of opportunities to show value. And we think when we kind of pull all that together, it will create a great opportunity to have a conversation about.

市長辦公室甚至當地媒體。我們非常幸運，非常高興與市政府和市長達成協議，將服務延長至 11 月。我們知道我們正在經歷並且我們將經歷一個充滿挑戰的夏天。我們已經看過這部電影好幾年了。因此，將會有很多展示價值的機會。我們認為，當我們將所有這些整合在一起時，這將創造一個很好的對話機會。

Okay. What's next for the city of Chicago versus pulling the plug because the one thing that we did see when there's discussion about potentially interrupting the service, it got a lot of people motivated to weigh in and say we don't think that's a wise idea because we really are dependent upon this technology.

好的。芝加哥市的下一步是什麼而不是拔掉插頭，因為當我們討論可能中斷服務時，我們確實看到了一件事，它讓很多人有動力參與進來，並說我們認為這不是一個明智的想法，因為我們確實依賴這項技術。

And then while we have on the exposure question, like can you double-click on the Puerto Rico situation, I remember, the last quarter it was a $2 million exposure, right? And has that been sorted out like signed in contours? Are we still working on extension on the PR side, that's Puerto Rico?

然後，當我們討論曝光問題時，例如你可以雙擊波多黎各的情況嗎？我記得，上個季度的曝光量為 200 萬美元，對嗎？這是否已經像簽署輪廓一樣被整理出來了？我們是否仍在致力於公關方面的擴展，即波多黎各？

You want me to take that Alan or do you want to take that?

你想讓我帶那個艾倫還是你想帶那個？

No, I'd be glad to take that. This is Alan. So we're still working with Puerto Rico, to be honest, we did have it funded through a through January, still working on them to get something longer term. And so we're not done fighting that battle just to be honest, we still have some risk there with Puerto Rico.

不，我很樂意接受。這是艾倫.因此，我們仍在與波多黎各合作，說實話，我們確實在一月提供了資金，仍在努力爭取更長期的成果。所以說實話，我們還沒有結束這場戰鬥，我們與波多黎各之間仍然存在一些風險。

But I thought it was like because like you were the only sounding was the only provider on. So like it wasn't really too big of a risk here just because you guys are in pole position here. Is that correct?

但我認為這就像因為你是唯一的聲音是唯一的提供者。所以，就像這裡並沒有太大的風險一樣，只是因為你們在這裡處於領先地位。那是對的嗎？

Well, it was from a competitive point of view, but I mean there was always kind of a funding issue that we're dealing with. I think that's what Alan is referring to. So we're still working through her with Puerto Rico on finding a funding source to continue the service through it.

嗯，這是從競爭的角度來看，但我的意思是我們一直在處理資金問題。我想這就是艾倫所指的。因此，我們仍在透過她與波多黎各合作尋找資金來源以繼續透過它提供服務。

And on the expansion side, last quarter, we mentioned about like the Philly, New Jersey housing. How's that coming along in terms of the expansion, if you guys could give us update on that as well?

在擴張方面，上個季度，我們提到了新澤西州費城的住房。資料片的進展如何，可以為我們介紹一下最新情況嗎？

Yeah, this is Alan. We're still working on the go live with that with that, yes, once that is complete then we're expecting and hoping that both the Housing Authority and the police departments we're working together to make that a significant potential for us. There's a lot of gun violence. But everybody knows that we believe that once they see the positive effects of our solutions that could turn into something significant.

是的，這是艾倫。我們仍在努力實現這一點，是的，一旦完成，我們就期待並希望住房管理局和警察部門共同努力，為我們帶來巨大的潛力。有很多槍枝暴力。但每個人都知道，我們相信，一旦他們看到我們的解決方案的正面影響，就可能會產生重大影響。

Is there like a rough time, Alan or is there could I remember last time you talked about 20 miles potential potentially 20 miles here. Has that changed demolished and secondly, the timeline?

艾倫，你是不是經歷了一段艱難的時光，或者我還記得上次你談到的潛在 20 英里在這裡可能是 20 英里。其次，時間軸是否已經改變？

Yeah, this is Alan. We haven't talked about how big it could be. I mean, it is a large city with a big, big issue, but we won't be giving any guidance in terms of where there could be other than it could be significant.

是的，這是艾倫。我們還沒有討論它有多大。我的意思是，這是一個存在很大很大問題的大城市，但我們不會就可能存在的其他問題提供任何指導，除非它可能很重要。

Okay. And just my final question is congrats on your great win in terms of like other areas you guys are looking at internationally are there other regions you look at and maybe Brazil's I know you're already in South Africa like Dave to comment on.

好的。我的最後一個問題是，恭喜你們取得了巨大的勝利，就像你們在國際上關注的其他地區一樣，你們也關注其他地區，也許還有巴西，我知道你們已經像戴夫一樣在南非發表評論了。

So this is Ralph (multiple speakers) it's interesting you mentioned Brazil. So certainly Brazil, Mexico. There's a couple of Caribbean countries that were very interested in. It turns out that there's a Brazilian delegation and spent time in South Africa, they had a very successful visit there. So we're very excited about the potential there in Latin America and think that that again, given Uruguay success with this solution, which is also interesting expansion opportunity for us that we're going to be able to put up some interesting numbers internationally later this year.

這是拉爾夫（多名發言者），有趣的是你提到了巴西。當然還有巴西和墨西哥。有幾個加勒比國家對此非常感興趣。原來有一個巴西代表團在南非待過一段時間，他們在那裡的訪問非常成功。因此，我們對拉丁美洲的潛力感到非常興奮，考慮到烏拉圭在這項解決方案上的成功，這對我們來說也是一個有趣的擴張機會，我們稍後將能夠在國際上提供一些有趣的數字今年。

Okay. Thank you very much Ralph and Alan.

好的。非常感謝拉爾夫和艾倫。

Matt Pfau, William Blair.

馬特普福，威廉布萊爾。

This is (inaudible) on for Matt. Thanks for taking our question. My first one, have the recent price increases pressured renewals at all? Or has there been any desire from customers to sign longer contracts?

這是（聽不清楚）針對馬特的。感謝您提出我們的問題。我的第一個問題是，最近的價格上漲是否對續訂造成了壓力？或者客戶是否希望簽署更長的合約？

Yeah. So this is Alan. We are doing the price increases. The MSRP is happening this year. We haven't seen a lot of pushback on that right now. We might see more as we go live throughout the year. The last time we did a price increase. It did take some time to get that through across the board, but it's going to happen and so far other than what you would normally expect.

是的。這就是艾倫。我們正在漲價。建議零售價將於今年實施。我們現在還沒有看到對此有太多的阻力。當我們全年上線時，我們可能會看到更多。上次我們漲價了。確實需要一些時間才能全面實現這一點，但它將會發生，而且遠遠超出您通常的預期。

There's always a little bit of pushback when you have a price increase. But most of our customers are used to at this point, especially after what they've seen with the price increases across the board, they have some kind of a call increase with their vendors anyway. So we're not concerned about it.

當價格上漲時，總是會有一些阻力。但我們的大多數客戶已經習慣了這一點，尤其是在他們看到價格全面上漲之後，他們無論如何都會向供應商進行某種形式的漲價。所以我們不關心這個。

Got it. And then can you comment on demand for bundled products? And has this strategy continued gaining traction?

知道了。那麼您能評論一下捆綁產品的需求嗎？這一策略是否繼續受到關注？

(multiple speakers) yeah, so we're excited about that, honestly, and we don't talk too much about it, but I think there's one going live with three or four of our products this week actually. So we're not going to talk about it until it's complete, but we're starting to see more and more customers that are interested in getting more than just one product.

（多個發言者）是的，所以說實話，我們對此感到很興奮，而且我們對此並沒有談論太多，但我認為實際上本週我們的三到四種產品將會上線。因此，在它完成之前我們不會談論它，但我們開始看到越來越多的客戶對獲得不僅僅是一種產品感興趣。

And we've set up our our plans with our sales and marketing team to make sure that it makes sense for not just our commission structure, but also for the customer, might be able to save a little bit of money if they get two products instead of one and now we think it's going to be a highly successful over time.

我們已經與銷售和行銷團隊制定了計劃，以確保這不僅對我們的佣金結構有意義，而且對客戶也有意義，如果他們購買兩種產品，也許可以節省一點錢而不是一個，現在我們認為隨著時間的推移它將會取得巨大成功。

Yeah, I think there's some just if I could just add onto Alan's excellent comments. I think there's certainly some natural affinity on bundle between kind of crime tracer in case builder. And we've seen a couple of interesting opportunities where one of the just kind of pull through the other, which is interesting. We've also seen on our early on, we had a resource, a router.

是的，我想我可以補充艾倫的精彩評論。我認為犯罪追蹤器與案件建構器之間肯定存在某種天然的親和力。我們看到了一些有趣的機會，其中一個正義的力量超越了另一個，這很有趣。我們早期也看到，我們有一個資源，一個路由器。

Here's kind of an interesting resource router, our ShotSpotter bundle, if you will, where customers were saying are they're already using ShotSpotter from a response capability, so taking the lead to extend broader into overall patrol management was interesting. So there are a number of ShotSpotter customers that expanded a mile and then also added a resource router to their solution set. So there's definitely some natural bundles that are already in play that we're looking forward to really accelerating.

這是一個有趣的資源路由器，我們的 ShotSpotter 捆綁包，如果您願意的話，客戶說他們已經在使用 ShotSpotter 的響應功能，因此帶頭將更廣泛的範圍擴展到整體巡邏管理是很有趣的。因此，有許多 ShotSpotter 客戶擴展了一英里，然後還在他們的解決方案集中添加了資源路由器。因此，肯定有一些自然捆綁已經在發揮作用，我們期待真正加速。

Great. Thanks for taking my questions.

偉大的。感謝您回答我的問題。

(Operator Instructions) [CJ Dipollino, Craig-Hallum].

（操作員說明）[CJ Dipollino，Craig-Hallum]。

Hey, this is CJ Dipollino on for Jeremy Hamblin. I wanted to touch on the Chicago extension one more time, the two-month transition period. Could you maybe talk about the economics of that similar the extension in the original contract?

嘿，我是傑里米·漢布林 (Jeremy Hamblin) 的 CJ Dipollino。我想再談談芝加哥的延期，兩個月的過渡期。您能否談談與原始合約中類似的延期的經濟意義？

Yeah. So this is Ralph. Let me lay it out for folks. So we effectively signed a nine-month extension for $8.6 million, which essentially represents a 12-month term. But we executed that against an overall nine month term and the way the nine month term is structured, it's essentially kind of seven months. That formula gets them through the turbulent summer months that we know exist out there for Chicago and also, interestingly enough, the wrapping up of the Democratic National Convention and then also Republican National Convention, although being held in Milwaukee.

是的。這就是拉爾夫。就讓我為大家整理一下吧。因此，我們實際上簽署了為期 9 個月的延期協議，金額為 860 萬美元，這實際上意味著 12 個月的期限。但我們是根據整個九個月的期限來執行的，而九個月期限的結構方式基本上是七個月。這個公式讓他們度過了我們知道芝加哥存在的動盪的夏季月份，而且有趣的是，民主黨全國代表大會和共和黨全國代表大會雖然在密爾瓦基舉行，但也結束了。

We know there's a lot of folks that are participating in that convention that will be in and around the city of Chicago. So that's kind of seven months. And then there's kind of a two month wind-down period and I think the mayor's office explanation of this is that they're looking to figure out how they bridge to something else kind of post ShotSpotter. And I think that's to be determined.

我們知道有很多人參加了在芝加哥市及其周邊地區舉行的會議。那是七個月的時間。然後有兩個月的緩衝期，我認為市長辦公室對此的解釋是，他們正在尋找如何與其他形式的後 ShotSpotter 銜接的方式。我認為這有待確定。

So part of our effort really is over this nine month period is to extensively collect data, so they can be very clear about the thing that they're replacing. They need to know what it is, and I think they would better understand what it is that they have a lot of data. And our bet is that when presented with that data in terms of what it is and what the capabilities are, it's going to be very, very difficult, I think, to replace that capability in understanding that 80% to 90% of community criminal gunfire goes unreported, that ShotSpotter is making them aware of on a real-time basis in a very precise basis, that's enabling them to get to the scene.

因此，在這九個月的時間裡，我們的部分工作實際上是廣泛收集數據，這樣他們就可以非常清楚他們正在更換的東西。他們需要知道它是什麼，我認為他們擁有大量數據會更好地理解它是什麼。我們的賭注是，當我們看到這些數據的內容和能力時，我認為，要取代這種能力來理解 80% 到 90% 的社區犯罪槍擊事件將是非常非常困難的。雖然未報告，但ShotSpotter可以非常精確地即時通知他們，從而使他們能夠到達現場。

These crimes that again, render aid to save lives that don't have a matching 9-1-1 call, that's a tough thing to replace, especially when you're already understaffed from a boots on the ground perspective, I think the number in Chicago is there are like 2,000 patrol officers under head count, and so to kind of take away a force multiplier technology tool like this when you're down head count wise and you have sadly, you know, historical violence is it's a bit of a head-scratcher.

這些犯罪行為再次為拯救沒有匹配的 9-1-1 呼叫的生命提供援助，這是一件很難取代的事情，特別是當你從實地的角度來看人手已經不足時，我認為這個數字在芝加哥，大約有2,000 名巡邏人員，因此，當你的人數減少時，要取消這樣的力量倍增技術工具，而且你知道，歷史上的暴力事件有點令人遺憾令人頭疼。

So we're going to be working really hard to ensure that everyone kind of sees the light of the day. And we'll just continue to build upon the relationship we've already enjoyed in Chicago again for multiple years across multiple mayors, multiple superintendents. We deserve to be in Chicago.

因此，我們將非常努力地工作，以確保每個人都能看到曙光。我們將繼續鞏固多年來我們在芝加哥與多位市長、多位主管之間已經建立的關係。我們值得在芝加哥。

Great. Thank you. And then the next question is going to be on gross margins. You've discussed in the past that you think gross margin could be up to 70% in about four years. Could you just maybe touch on the composition of revenue streams that are going to help you achieve that target considering your current gross margins closer to 60%?

偉大的。謝謝。下一個問題將是毛利率。您過去曾討論過，您認為毛利率可能在四年左右達到 70%。考慮到您目前接近 60% 的毛利率，您能否談談將幫助您實現該目標的收入來源的組成？

Sure. This is Alan. So the nice thing about having more products now is as the revenue grows, the cost of goods sold does not grow as much in the gross margin is going to increase. We haven't given guidance on gross margin for '24, but we expect it to be around 60%, which would be higher than we ended this year. And that's as all of the products that we have continue to grow revenue. We don't necessarily have to increase so much in COGS.

當然。這是艾倫.因此，現在擁有更多產品的好處是，隨著收入的成長，銷售成本的成長幅度不會像毛利率的成長幅度一樣大。我們尚未給出 24 年毛利率指引，但我們預計毛利率將在 60% 左右，這將高於我們今年末的水平。我們擁有的所有產品的收入都在持續成長。我們不一定需要將銷貨成本增加這麼多。

The other thing too, is SafePointe is brand new for us. So there's a little bit of expense there as we continue to build up the solution. It's also a software solution. And the other ones are software solutions, even if they have some sort of sensors that are related to it going closer to some of the higher gross margins for those solutions. As well as Ralph mentioned, the international, when we go live in Miles International, they have a significantly higher gross margin. So we still believe that the ultimate in the next couple of years, we'll be around that 70% or maybe even a little more.

另一件事是 SafePointe 對我們來說是全新的。因此，當我們繼續建立解決方案時，會產生一些費用。它也是一個軟體解決方案。其他的是軟體解決方案，即使它們有某種與之相關的感測器，更接近這些解決方案的一些更高的毛利率。正如拉爾夫所提到的那樣，當我們在邁爾斯國際開展業務時，他們的毛利率要高得多。所以我們仍然相信，在未來幾年內，我們的最終目標將是 70% 左右，甚至可能更多。

Okay. Thank you.

好的。謝謝。

At this time, this concludes our question-and-answer session. And if your question was not taken, you may contact SoundThinking's Investor Relations team by e-mailing at SSTI@gateway-grp.com. I'd now like to turn the call back over to Mr. Clark for his closing comments.

至此，我們的問答環節就結束了。如果您的問題未被採納，您可以透過電子郵件至 SSTI@gateway-grp.com 聯繫 SoundThinking 的投資者關係團隊。我現在想將電話轉回給克拉克先生，請他發表結束語。

Great. Thank you very much. I want to thank everyone for joining today's call and looking forward to hopefully seeing many of you on our Investor Day, which is currently scheduled for March 14. Thank you very much and be safe.

偉大的。非常感謝。我要感謝大家參加今天的電話會議，並期待在我們的投資者日（目前定於 3 月 14 日）見到你們。非常感謝您並注意安全。

Thank you for joining us today for our call. You may now disconnect.

感謝您今天加入我們的電話。您現在可以斷開連線。