Up to 70% of the alerts were described as that its system puts out, indicating that the higher the number of alerts, the greater the benefit it is providing But as we will see below, the high alert rate itself is actually the biggest problem, because the overwhelming majority of Shot Spotter alerts are nothing more than false alarms.The data above is the comes in the form of public statements from municipal officials and law enforcement who went on the record to publicly explain why they were abandoning this system after spending huge sums of tax payer money to have it installed.
Shot Spotter is a brand new IPO, so perhaps investors can be forgiven for not knowing the prior history of major contract announcements (specifically for Miami) which were then repeatedly cancelled with little or no revenue.And it comes in great detail from a wide variety of completely independent sources. As I will show in a subsequent section, Shot Spotter has undertaken significant efforts to thwart the release of any performance data for its product. It proves conclusively that the product provides no material benefit whatsoever.But an investigative journalist from Forbes was able to separately obtain and analyze much of the data behind Shot Spotter. The data obtained by Forbes in 2016 showed that Shot Spotter provided huge numbers of alerts to law enforcement, but that more than 98% of these alerts ended in no arrests being made.So far they have made no mention of the concerns I raise below.Imperial Capital sees 30% upside for Shotspotter Northland Capital Markets Starts Shot Spotter (SSTI) at Outperform Shot Spotter initiated with a Buy at Roth Capital PT Raised to .75 at Imperial Capital on 3Q Report Roth Capital Raises Shot Spotter Inc. (SSTI) Given a .00 Price Target by Imperial Capital Analysts The data against shot spotter is absolutely and overwhelmingly conclusive.