SOUNDTHINKING INC Releases Q2 FY2023 Earnings Results on August 8th
August 13, 2023
🌥️Earnings Overview
On August 8 2023, SOUNDTHINKING INC ($NASDAQ:SSTI) reported their financial results for the second quarter of FY2023, which ended on June 30 2023. They recorded a total revenue of USD 22.1 million, a 10.3% increase from the same period one year ago. Unfortunately, their net income decreased significantly from USD 3.0 million to USD -2.7 million compared to the same quarter of the preceding year.
Market Price
On Tuesday, August 8th, SOUNDTHINKING INC, a leading technology company, released its earning results for the second quarter of FY2023. The second quarter of FY2023 saw SOUNDTHINKING INC make strides in both revenue and profits, thanks to their innovative product launches and growing customer base. The success of SOUNDTHINKING INC has been further bolstered by their extensive global reach and proven ability to adapt to changing market conditions. The company is now looking forward to the third quarter of FY2023, with further plans for expansion into new markets and the launch of more innovative products.
Overall, these Q2 FY2023 earnings results from SOUNDTHINKING INC indicate that the company is continuing its upward trajectory and is on track to achieve long-term success. Investors are optimistic that the company will continue to deliver strong results, and as such, the stock price is likely to continue its upward trend in the coming days. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Soundthinking Inc. More…
| Total Revenues | Net Income | Net Margin |
| 82.47 | -1.5 | -6.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Soundthinking Inc. More…
| Operations | Investing | Financing |
| 9.7 | -15.54 | -1.75 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Soundthinking Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 110.68 | 52.62 | 4.74 |
Key Ratios Snapshot
Some of the financial key ratios for Soundthinking Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 24.6% | – | -8.2% |
| FCF Margin | ROE | ROA |
| -1.1% | -7.2% | -3.8% |
Analysis
GoodWhale has analyzed SOUNDTHINKING INC‘s financials and our risk rating indicates they are a high risk investment in terms of financial and business aspects. We have detected 4 risk warnings in the income sheet, balance sheet, cashflow statement, and non financial sections. It is important to note that these warnings should not be taken lightly and further research is advised before committing to an investment. To get a more detailed look at the risk warnings, sign up on GoodWhale.com. Our system provides an in-depth analysis of the company’s financials, taking into account current and past trends, as well as other factors. We will provide you with an accurate risk assessment so you can make a well-informed decision on whether SOUNDTHINKING INC is a good fit for your portfolio. More…
Peers
The company was founded in 1996 and is headquartered in Newark, California. The company’s competitors include Mantech International Corp, SecureWorks Corp, and Mimecast Ltd.
– Mantech International Corp ($NASDAQ:SCWX)
SecureWorks is a provider of intelligence-driven information security solutions. The company’s solutions enable organizations to fortify their cyber defenses to prevent against advanced threats, reduce security risks, and ensure compliance. SecureWorks’ solutions are delivered through a combination of expert human intelligence, industry-leading security technologies, and an advanced analytics platform.
SecureWorks’ market cap is $687.41 million as of 2022. The company’s return on equity is -9.05%.
SecureWorks provides a variety of information security solutions that help organizations protect themselves against advanced threats, reduce security risks, and ensure compliance. The company’s solutions are delivered through a combination of expert human intelligence, industry-leading security technologies, and an advanced analytics platform.
Summary
SOUNDTHINKING INC reported an increase in total revenue of 10.3% for the second quarter of FY2023, reaching USD 22.1 million. Despite this, net income for the period decreased to USD -2.7 million compared to USD 3.0 million in the same period of the prior year. This could be a cause for concern for investors, as it suggests an overall decrease in profitability for the company. Further analysis of the company’s performance, such as its operating costs, cash flow, and ability to grow revenue, should be done in order to determine if SOUNDTHINKING INC is a good investment opportunity.
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