Business
SHOTSPOTTER RESPONDS TO COVID-19 CHALLENGE
Company Initiates Resiliency Plan to Maintain Gunshot Detection Services With a Remote and Distributed Incident Review Center Full Year 2020 Revenue Guidance
About this update from Soundthinking, Inc.
[{"type":"text","content":"Company Initiates Resiliency Plan to Maintain Gunshot Detection Services With a Remote and Distributed Incident Review Center\nFull Year 2020 Revenue Guidance Reduced to a Range of $46 million to $48 million.\n NEWARK, Calif., March 16, 2020 (GLOBE NEWSWIRE) -- ShotSpotter, Inc. (NASDAQ: SSTI), the leader in acoustic gunshot detection and precision policing solutions that help law enforcement officials and security personnel prevent and reduce gun violence, today shared details of the program it has put in place to respond to the COVID-19 outbreak. The company is taking steps to protect the health and safety of its employees and customers while maintaining its existing level of gunshot detection services. Effective March 16, 2020, ShotSpotter will follow social distancing recommendations to do its part to help reduce transmission of the COVID-19 virus. The company has temporarily closed its headquarters and required all employees to work from home. The company has acquired and implemented infrastructure, equipment and processes to enable its gunshot detection services to continue uninterrupted. ShotSpotter’s Incident Review Center (IRC), which provides an additional step of human review of incidents, has successfully transitioned to a distributed model and will remain at full staffing. There is no anticipated impact on the response time or quality of its alerting services. Management believes it will be able to maintain its 90% SLA commitment to its customers around the globe. In addition to closing headquarters through March 31, 2020, the company has also put in place a mandatory and complete travel ban for the same period. The travel ban effectively suspends all project management and installation activities, which will impact the number of new go-live miles deployed in March and early Q2. In addition to these travel restrictions, scheduled deployments are also being delayed at the request of customers, who are dealing with their own response to COVID-19. Similar circumstances are also resulting in a slowdown in engagements with prospective customers. “Our top priority is the safety of our employees, customers, and other key stakeholders. We have taken the necessary steps to protect them and their loved ones and we are doing our part to help slow the spread of the COVID-19 virus,” said Ralph Clark, CEO of ShotSpotter. “Our tea...