Quarterly ResultMay 15, 2026, 04:10 PM
SoundThinking Q1 Revenue Down 14.7% to $24.2M; Net Loss Widens to $7.0M
AI Summary
SoundThinking, Inc. reported a significant decline in its first-quarter 2026 financial results, with revenues decreasing by 14.7% to $24.2 million and net loss widening substantially to $7.0 million from $1.5 million in the prior year. The company also incurred $0.5 million in restructuring expenses due to a workforce reduction affecting approximately 15 employees, aimed at optimizing resource allocation and reducing operational costs.
Key Highlights
- Q1 2026 revenue decreased 14.7% to $24.2 million from $28.3 million in Q1 2025.
- Q1 2026 net loss widened to $7.0 million, compared to a net loss of $1.5 million in Q1 2025.
- Basic and diluted net loss per share for Q1 2026 was $(0.54), up from $(0.12) in Q1 2025.
- Gross profit for Q1 2026 fell 32.1% to $11.3 million from $16.6 million in Q1 2025.
- Operating loss for Q1 2026 increased to $6.9 million from $1.2 million in Q1 2025.
- The company incurred $0.5 million in restructuring expenses in Q1 2026 due to a workforce reduction.
- Net cash provided by operating activities was $0.2 million in Q1 2026, compared to net cash used of $0.1 million in Q1 2025.
- The City of New York accounted for 27% of total revenues in Q1 2026.
Price Impact
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