Intrinsic value of ShotSpotter - SSTI

Previous Close

$36.06

  Intrinsic Value

$35.60

stock screener

  Rating & Target

hold

-1%

Previous close

$36.06

 
Intrinsic value

$35.60

 
Up/down potential

-1%

 
Rating

hold

We calculate the intrinsic value of SSTI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  53.00
  48.20
  43.88
  39.99
  36.49
  33.34
  30.51
  27.96
  25.66
  23.60
  21.74
  20.06
  18.56
  17.20
  15.98
  14.88
  13.89
  13.01
  12.20
  11.48
  10.84
  10.25
  9.73
  9.25
  8.83
  8.45
  8.10
  7.79
  7.51
  7.26
Revenue, $m
  36
  54
  78
  109
  148
  198
  258
  330
  415
  512
  624
  749
  888
  1,040
  1,207
  1,386
  1,579
  1,784
  2,002
  2,232
  2,474
  2,727
  2,993
  3,270
  3,558
  3,859
  4,172
  4,497
  4,834
  5,185
Variable operating expenses, $m
  33
  49
  71
  99
  136
  181
  236
  302
  380
  470
  572
  686
  814
  954
  1,106
  1,271
  1,447
  1,636
  1,835
  2,046
  2,268
  2,500
  2,743
  2,997
  3,262
  3,537
  3,824
  4,122
  4,431
  4,753
Fixed operating expenses, $m
  7
  7
  7
  8
  8
  8
  8
  8
  9
  9
  9
  9
  9
  9
  10
  10
  10
  10
  11
  11
  11
  11
  12
  12
  12
  12
  13
  13
  13
  13
Total operating expenses, $m
  40
  56
  78
  107
  144
  189
  244
  310
  389
  479
  581
  695
  823
  963
  1,116
  1,281
  1,457
  1,646
  1,846
  2,057
  2,279
  2,511
  2,755
  3,009
  3,274
  3,549
  3,837
  4,135
  4,444
  4,766
Operating income, $m
  -4
  -3
  -1
  1
  5
  8
  13
  19
  26
  34
  43
  53
  65
  77
  91
  106
  122
  138
  156
  175
  195
  216
  238
  261
  285
  310
  335
  362
  390
  419
EBITDA, $m
  -1
  2
  6
  11
  17
  25
  36
  48
  62
  78
  97
  118
  141
  167
  195
  225
  257
  292
  329
  367
  408
  451
  495
  542
  591
  641
  694
  749
  806
  865
Interest expense (income), $m
  1
  0
  2
  6
  10
  16
  24
  33
  45
  59
  75
  93
  115
  139
  165
  194
  226
  261
  297
  337
  378
  422
  469
  517
  568
  621
  676
  734
  793
  856
  920
Earnings before tax, $m
  -4
  -5
  -7
  -9
  -12
  -15
  -20
  -26
  -32
  -41
  -50
  -61
  -74
  -88
  -103
  -121
  -139
  -159
  -180
  -203
  -227
  -252
  -279
  -307
  -336
  -367
  -398
  -431
  -466
  -501
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -4
  -5
  -7
  -9
  -12
  -15
  -20
  -26
  -32
  -41
  -50
  -61
  -74
  -88
  -103
  -121
  -139
  -159
  -180
  -203
  -227
  -252
  -279
  -307
  -336
  -367
  -398
  -431
  -466
  -501

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  55
  81
  117
  164
  223
  298
  389
  498
  625
  773
  941
  1,129
  1,339
  1,569
  1,820
  2,091
  2,382
  2,691
  3,020
  3,367
  3,731
  4,114
  4,514
  4,932
  5,367
  5,820
  6,292
  6,782
  7,292
  7,821
Adjusted assets (=assets-cash), $m
  55
  81
  117
  164
  223
  298
  389
  498
  625
  773
  941
  1,129
  1,339
  1,569
  1,820
  2,091
  2,382
  2,691
  3,020
  3,367
  3,731
  4,114
  4,514
  4,932
  5,367
  5,820
  6,292
  6,782
  7,292
  7,821
Revenue / Adjusted assets
  0.655
  0.667
  0.667
  0.665
  0.664
  0.664
  0.663
  0.663
  0.664
  0.662
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
  0.663
Average production assets, $m
  16
  23
  33
  47
  64
  85
  111
  142
  178
  220
  268
  322
  382
  447
  519
  596
  679
  767
  861
  960
  1,064
  1,173
  1,287
  1,406
  1,530
  1,659
  1,794
  1,934
  2,079
  2,230
Working capital, $m
  -25
  -37
  -53
  -74
  -102
  -136
  -177
  -226
  -284
  -351
  -428
  -514
  -609
  -714
  -828
  -951
  -1,083
  -1,224
  -1,373
  -1,531
  -1,697
  -1,871
  -2,053
  -2,243
  -2,441
  -2,647
  -2,862
  -3,085
  -3,316
  -3,557
Total debt, $m
  12
  30
  54
  85
  124
  174
  234
  306
  391
  489
  601
  726
  865
  1,018
  1,185
  1,364
  1,557
  1,763
  1,981
  2,211
  2,454
  2,708
  2,973
  3,251
  3,540
  3,841
  4,154
  4,479
  4,818
  5,169
Total liabilities, $m
  36
  54
  78
  109
  148
  198
  258
  330
  415
  513
  625
  750
  889
  1,042
  1,209
  1,388
  1,581
  1,787
  2,005
  2,235
  2,478
  2,732
  2,997
  3,275
  3,564
  3,865
  4,178
  4,503
  4,842
  5,193
Total equity, $m
  18
  27
  39
  55
  75
  100
  131
  167
  210
  260
  316
  379
  450
  527
  612
  703
  800
  904
  1,015
  1,131
  1,254
  1,382
  1,517
  1,657
  1,803
  1,956
  2,114
  2,279
  2,450
  2,628
Total liabilities and equity, $m
  54
  81
  117
  164
  223
  298
  389
  497
  625
  773
  941
  1,129
  1,339
  1,569
  1,821
  2,091
  2,381
  2,691
  3,020
  3,366
  3,732
  4,114
  4,514
  4,932
  5,367
  5,821
  6,292
  6,782
  7,292
  7,821
Debt-to-equity ratio
  0.670
  1.100
  1.360
  1.540
  1.660
  1.740
  1.790
  1.830
  1.860
  1.880
  1.900
  1.910
  1.920
  1.930
  1.940
  1.940
  1.950
  1.950
  1.950
  1.950
  1.960
  1.960
  1.960
  1.960
  1.960
  1.960
  1.960
  1.970
  1.970
  1.970
Adjusted equity ratio
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -4
  -5
  -7
  -9
  -12
  -15
  -20
  -26
  -32
  -41
  -50
  -61
  -74
  -88
  -103
  -121
  -139
  -159
  -180
  -203
  -227
  -252
  -279
  -307
  -336
  -367
  -398
  -431
  -466
  -501
Depreciation, amort., depletion, $m
  3
  5
  7
  9
  13
  17
  22
  28
  36
  44
  54
  64
  76
  89
  104
  119
  136
  153
  172
  192
  213
  235
  257
  281
  306
  332
  359
  387
  416
  446
Funds from operations, $m
  -1
  -1
  0
  1
  1
  2
  2
  3
  3
  3
  3
  3
  2
  2
  0
  -1
  -3
  -6
  -8
  -11
  -14
  -18
  -22
  -26
  -30
  -35
  -40
  -45
  -50
  -55
Change in working capital, $m
  -9
  -12
  -16
  -21
  -27
  -34
  -41
  -49
  -58
  -67
  -76
  -86
  -95
  -105
  -114
  -123
  -132
  -141
  -149
  -158
  -166
  -174
  -182
  -190
  -198
  -206
  -214
  -223
  -232
  -241
Cash from operations, $m
  8
  11
  16
  22
  28
  36
  44
  52
  61
  70
  80
  89
  98
  106
  114
  122
  129
  135
  141
  147
  152
  156
  160
  164
  168
  171
  175
  178
  182
  186
Maintenance CAPEX, $m
  -2
  -3
  -5
  -7
  -9
  -13
  -17
  -22
  -28
  -36
  -44
  -54
  -64
  -76
  -89
  -104
  -119
  -136
  -153
  -172
  -192
  -213
  -235
  -257
  -281
  -306
  -332
  -359
  -387
  -416
New CAPEX, $m
  -5
  -8
  -10
  -13
  -17
  -21
  -26
  -31
  -36
  -42
  -48
  -54
  -60
  -66
  -71
  -77
  -83
  -88
  -94
  -99
  -104
  -109
  -114
  -119
  -124
  -129
  -134
  -140
  -145
  -151
Cash from investing activities, $m
  -7
  -11
  -15
  -20
  -26
  -34
  -43
  -53
  -64
  -78
  -92
  -108
  -124
  -142
  -160
  -181
  -202
  -224
  -247
  -271
  -296
  -322
  -349
  -376
  -405
  -435
  -466
  -499
  -532
  -567
Free cash flow, $m
  0
  1
  1
  2
  2
  2
  1
  -1
  -4
  -7
  -12
  -19
  -26
  -36
  -47
  -59
  -73
  -89
  -106
  -124
  -144
  -166
  -188
  -212
  -237
  -264
  -291
  -320
  -350
  -381
Issuance/(repayment) of debt, $m
  12
  18
  24
  31
  40
  49
  60
  72
  85
  98
  112
  125
  139
  153
  167
  180
  193
  206
  218
  230
  242
  254
  266
  277
  289
  301
  313
  326
  338
  352
Issuance/(repurchase) of shares, $m
  10
  14
  19
  25
  32
  40
  50
  62
  75
  90
  107
  125
  144
  165
  188
  212
  237
  263
  291
  320
  350
  381
  414
  447
  482
  519
  557
  596
  637
  679
Cash from financing (excl. dividends), $m  
  22
  32
  43
  56
  72
  89
  110
  134
  160
  188
  219
  250
  283
  318
  355
  392
  430
  469
  509
  550
  592
  635
  680
  724
  771
  820
  870
  922
  975
  1,031
Total cash flow (excl. dividends), $m
  23
  32
  44
  57
  73
  91
  112
  133
  157
  181
  206
  232
  257
  283
  308
  332
  356
  380
  403
  425
  448
  469
  491
  512
  534
  556
  578
  601
  625
  649
Retained Cash Flow (-), $m
  -10
  -14
  -19
  -25
  -32
  -40
  -50
  -62
  -75
  -90
  -107
  -125
  -144
  -165
  -188
  -212
  -237
  -263
  -291
  -320
  -350
  -381
  -414
  -447
  -482
  -519
  -557
  -596
  -637
  -679
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  13
  18
  25
  33
  42
  51
  61
  71
  81
  91
  99
  107
  113
  117
  120
  121
  120
  117
  112
  106
  98
  88
  77
  65
  52
  37
  22
  5
  -12
  -30
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  12
  17
  22
  27
  32
  37
  41
  45
  47
  48
  47
  46
  43
  39
  35
  31
  26
  22
  17
  13
  10
  7
  5
  3
  2
  1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  92.1
  85.6
  80.1
  75.4
  71.3
  67.7
  64.4
  61.5
  58.8
  56.4
  54.2
  52.1
  50.2
  48.4
  46.8
  45.2
  43.7
  42.3
  41.0
  39.8
  38.6
  37.4
  36.4
  35.3
  34.3
  33.4
  32.4
  31.5
  30.7
  29.9

ShotSpotter, Inc. is engaged in designing and delivering gunfire alert and analysis solutions. The Company offers its software solutions on a SaaS-based subscription model. It has one operating segment with one business activity, providing gunshot detection systems. Its safety solutions include ShotSpotter Flex, ShotSpotter (SST) SecureCampus and ShotSpotter SiteSecure. ShotSpotter Flex is an outdoor public safety solution, serves cities and municipalities seeking to identify, locate and deter persistent a real-time gunshot detection system into their policing systems. SST SecureCampus is integrates its indoor and outdoor solutions in order to help the law enforcement and security personnel serving universities, colleges and other educational institutions. ShotSpotter SiteSecure is integrates its indoor and outdoor solutions for customers such as corporations trying to safeguard their facilities and public agencies focused on protecting critical infrastructure.

FINANCIAL RATIOS  of  ShotSpotter (SSTI)

Valuation Ratios
P/E Ratio -46.9
Price to Sales 20.5
Price to Book -21.9
Price to Tangible Book
Price to Cash Flow 164.3
Price to Free Cash Flow -109.5
Growth Rates
Sales Growth Rate 33.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 150%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 4
Current Ratio 0
LT Debt to Equity -73.3%
Total Debt to Equity -80%
Interest Coverage -6
Management Effectiveness
Return On Assets -38.7%
Ret/ On Assets - 3 Yr. Avg. -39.6%
Return On Total Capital 1400%
Ret/ On T. Cap. - 3 Yr. Avg. 266.7%
Return On Equity 60.9%
Return On Equity - 3 Yr. Avg. 70.3%
Asset Turnover 1
Profitability Ratios
Gross Margin 37.5%
Gross Margin - 3 Yr. Avg. 20.8%
EBITDA Margin -18.8%
EBITDA Margin - 3 Yr. Avg. -17.4%
Operating Margin -25%
Oper. Margin - 3 Yr. Avg. -22.2%
Pre-Tax Margin -43.8%
Pre-Tax Margin - 3 Yr. Avg. -31.3%
Net Profit Margin -43.8%
Net Profit Margin - 3 Yr. Avg. -31.3%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

SSTI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SSTI stock intrinsic value calculation we used $23.763 million for the last fiscal year's total revenue generated by ShotSpotter. The default revenue input number comes from 0001 income statement of ShotSpotter. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SSTI stock valuation model: a) initial revenue growth rate of 53% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SSTI is calculated based on our internal credit rating of ShotSpotter, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of ShotSpotter.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SSTI stock the variable cost ratio is equal to 91.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $7 million in the base year in the intrinsic value calculation for SSTI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 19.1% for ShotSpotter.

Corporate tax rate of 27% is the nominal tax rate for ShotSpotter. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SSTI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SSTI are equal to 43%.

Life of production assets of 3.3 years is the average useful life of capital assets used in ShotSpotter operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SSTI is equal to -68.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $12.162 million for ShotSpotter - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 10.772 million for ShotSpotter is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of ShotSpotter at the current share price and the inputted number of shares is $0.4 billion.

COMPANY NEWS

▶ 3 Top Stocks That Aren't on Wall Street's Radar   [Sep-29-18 06:31PM  Motley Fool]
▶ 9 Small-Cap Stocks to Buy for Big-Time Growth Potential   [Sep-18-18 02:30PM  InvestorPlace]
▶ ShotSpotter Could Trade Higher But Can You Afford It?   [Sep-13-18 03:06PM  TheStreet.com]
▶ 3 Stocks That Turned $8,000 Into $50,000 in 1 Year   [Sep-04-18 09:33AM  Motley Fool]
▶ Why ShotSpotter Stock Soared 34% in August   [Sep-03-18 07:50AM  Motley Fool]
▶ Why ShotSpotter, Inc. Stock Gained 12.5% in July   [Aug-10-18 07:48AM  Motley Fool]
▶ ShotSpotter: 2Q Earnings Snapshot   [Aug-02-18 07:41PM  Associated Press]
▶ ShotSpotter, Inc. to Host Earnings Call   [02:30PM  ACCESSWIRE]
▶ The 5 Best Tech Stocks of 2018 (So Far)   [05:45AM  Motley Fool]
▶ Tronc Finally Gives Up the Ghost   [Jun-20-18 12:00AM  Motley Fool]
▶ ShotSpotter Set to Join the Russell 3000 Index   [Jun-14-18 08:00AM  GlobeNewswire]
▶ ShotSpotter Rated a Buy: What You Need to Know   [May-29-18 11:54AM  Motley Fool]
▶ ShotSpotter: 1Q Earnings Snapshot   [May-09-18 05:06AM  Associated Press]
▶ ShotSpotter Reports First Quarter 2018 Financial Results   [May-08-18 04:05PM  GlobeNewswire]
▶ 5 Overlooked Techs That Are Beating the Market   [Apr-25-18 06:00AM  Investopedia]
▶ Best High Growth NasdaqCM Stocks This Week   [Feb-12-18 11:02AM  Simply Wall St.]
▶ What is Behind ShotSpotter Incs (NASDAQ:SSTI) Superior ROE?   [Jan-04-18 05:40PM  Simply Wall St.]
▶ ShotSpotter Added to MSCI USA Micro Cap Index   [Dec-01-17 03:35PM  GlobeNewswire]
▶ William J. Bratton Joins ShotSpotters Board of Directors   [Nov-15-17 01:08PM  GlobeNewswire]
▶ ShotSpotter reports 3Q loss   [Nov-07-17 05:27PM  Associated Press]
▶ Fremont chip cleaning equipment maker sets IPO targets lower than expected   [Oct-19-17 02:09PM  American City Business Journals]
▶ Gun Stocks Close Higher In Wake of Las Vegas Shooting   [Oct-03-17 07:25AM  TheStreet.com]
▶ How technology can reduce gun violence   [Oct-02-17 07:56AM  MarketWatch]
▶ ShotSpotter Announces Expansion to Seven New U.S. Cities   [Sep-19-17 01:42PM  GlobeNewswire]
▶ ShotSpotter Reports Second Quarter 2017 Financial Results   [Aug-08-17 06:46PM  GlobeNewswire]
▶ ShotSpotter reports 2Q loss   [06:05PM  Associated Press]
▶ The Market In 5 Minutes   [Aug-01-17 08:59AM  Benzinga]
▶ Stock Indexes Sluggish; This Gunfire Technology Stock Is Up 5%   [Jun-14-17 12:07PM  Investor's Business Daily]

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