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FREMONT, Calif. - SoundThinking, Inc. (NASDAQ:SSTI), a prominent public safety technology firm with a market capitalization of approximately $200 million, announced today the addition of Burton Goldfield to its Board of Directors. The appointment comes as the company’s stock has shown strong momentum, gaining over 37% in the past six months. Goldfield’s appointment, effective immediately, also includes roles on the Audit Committee and Compensation and Human Capital Committee, which will commence at the company’s 2025 annual meeting of stockholders.According to InvestingPro data, SoundThinking operates with moderate debt levels and has achieved revenue growth of 10% over the last twelve months.
Goldfield, known for his extensive executive leadership experience, is recognized for his role as the former President and CEO of TriNet Group, Inc. During his tenure, he led TriNet through its IPO in March 2014 and a series of strategic acquisitions, significantly expanding the company’s market presence. His efforts were instrumental in establishing TriNet as a leading cloud-based HR provider and Professional Employer Organization (PEO).
Prior to his achievements at TriNet, Goldfield held CEO positions at Ketera Technologies and senior leadership roles at Hyperion Solutions Corporation and IBM Corporation’s Rational Software division. His current engagements include serving on the Board of Directors at EvoNexus, Inc. and as Chairman of the Board at FinancialForce.
Goldfield’s leadership has earned him notable accolades, including the title of "Most Admired CEO" by the San Francisco Business Times and a Gold Award for "CEO of the Year" by the CEO World Awards. His insights have also been featured in Forbes magazine, among other publications.
Pascal Levensohn, Chair of the Board of SoundThinking, expressed enthusiasm for Goldfield’s arrival, citing his proven ability to lead companies through growth and complex market conditions as a valuable asset to SoundThinking’s strategic direction.
SoundThinking provides AI- and data-driven solutions to enhance public safety, serving over 300 customers and collaborating with around 2,100 agencies. Its SafetySmart™ platform encompasses a suite of products, including the ShotSpotter® gunshot detection system and the PlateRanger™ powered by Rekor®, a leading ALPR solution. The company prides itself on being designated a Great Place to Work®. With annual revenue of $102 million and a gross profit margin of 57%, the company maintains a strong market position despite current profitability challenges.For deeper insights into SoundThinking’s financial health and growth prospects, including additional ProTips and comprehensive analysis, visit InvestingPro, where you’ll find detailed research reports and expert commentary on over 1,400 US stocks.
This appointment is based on a press release statement and reflects the company’s efforts to strengthen its leadership team and enhance its strategic initiatives in the public safety technology sector.
In other recent news, SoundThinking, Inc. has secured a substantial $43 million contract renewal with the New York City Police Department (NYPD) for its public safety technology, reinforcing a partnership that spans nearly two decades. This agreement will continue to provide the NYPD with specialized software applications used by over 35,000 active users. Despite missing fourth-quarter earnings expectations for 2024, SoundThinking has increased its financial outlook for 2025, anticipating improvements in margins and a double-digit revenue increase. The company attributes the recent shortfall to a $3.5 million impact from two major NYPD contracts, with one finalized and the other expected to be completed soon. SoundThinking has also expanded its ShotSpotter system to Niterói, Brazil, under a new $1.7 million contract, marking its return to the South American market. Analysts from Citizens JMP and JMP Securities have maintained a positive outlook on SoundThinking, reiterating a Market Outperform rating with a $19 price target, citing the company’s attractive profitability profile and potential for international growth. Cantor Fitzgerald also maintains an Overweight rating with a $20 price target, reflecting confidence in the company’s future prospects despite recent financial setbacks. These developments highlight SoundThinking’s ongoing efforts to enhance public safety through advanced technology solutions.
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