ShotSpotter: Tumbles after cutting 2019 revenue forecast

Soundthinking

09/05/2019 23:12

** Shares of gunshot detector ShotSpotter  SSTI.O  fall
23.1% to $42.2 in extended trading; set for worst day ever if
losses hold on Friday
    ** Cuts 2019 revenue forecast range to $44.5 mln-$45.5
million from $45 mln-$47 mln
    ** Blames forecast cut on loss of one major customer and
delays in contract negotiations with two new potential customers
    ** Analysts on average expected FY revenue of $46.12 mln,
according to IBES data from Refinitiv 
    ** Co also misses Q1 revenue estimates  urn:newsml:reuters.com:*:nGNX7N51SJ
    ** SSTI up over 75% YTD and has gained nearly five-fold over
its 2017 IPO price of $11

 (Reporting by Uday Sampath in Bengaluru)
 ((Reuters Messaging:
UdaySampath.Kumar.thomsonreuters.com@reuters.net))