We are short ShotSpotter because: The Simmons case alleges unreliable data & forensic reports that can be modified after the fact. ShotSpotter’s accuracy percentage is a product of their marketing department, not their data scientists. ShotSpotter’s technology & testimony has been deemed inadmissible in certain courts in 2 of its major markets (CA & NY). ShotSpotter has made no known efforts to get independent confirmation of the validity of their data for court use. ShotSpotter requires human analysis to prevent false positives that their software generates. We believe 9.5x EV/Sales is an unsustainable valuation for this unprofitable company.