4 New Contracts for 8 Machines to Kick Off New Year at Knightscope (Nasdaq: KSCP)

Rhea-AI Summary

Knightscope, Inc. (Nasdaq: KSCP) has secured four new contracts, significantly boosting its growth trajectory by adding eight new machines, including three K5 Autonomous Security Robots and five K1 Blue Light Towers. These contracts involve both new and existing clients, enhancing Knightscope's portfolio and revenue potential. For instance, a major finance company will utilize a K5 ASR in Jacksonville, FL, while a residential developer in Chicago implements a K5 for security at student housing. The company continues to focus on creating value for its clients, positioning itself for long-term expansion.

Positive

• Secured four new contracts, adding eight machines.
• Includes three K5 Autonomous Security Robots and five K1 Blue Light Towers.
• New clients and expansions with existing clients demonstrate growth.
• Specific deployments in high-traffic areas for crime deterrence enhance revenue potential.

Negative

• None.

Public Safety Innovator Continues Building Strong Growth Curve

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. (Nasdaq: KSCP), a leading developer of autonomous security robots, kicks off the New Year with 4 new contracts totaling 8 new machines including 3 K5 Autonomous Security Robots (ASRs) and 5 K1 Blue Light Towers. This announcement supports the Company’s commitment to growth and strengthening its revenues on the road to profitability.

4 New Contracts for 8 Machines to Kick Off New Year at Knightscope (Nasdaq: KSCP) (Photo: Business Wire)

The new contracts encompass both new clients and current clients adding to their existing agreements with new machines in new locations. The deployment locations and use cases are as follows:

• Knightscope channel partner, and one of the largest security companies in the United States, added another K5 ASR to the security program of one of the largest finance companies in the nation. The K5 will patrol the parking lot and grounds of its customer’s regional corporate office in the Jacksonville, FL area with the goal of deterring thefts and other crimes and increasing the actual and perceived safety of the site’s employees and visitors.
• Another expansion comes from an American entertainment company that operates integrated entertainment, sports content, and casino gaming businesses. This client owns and operates over 40 properties in 20 states, and Knightscope will now be in 3 of their properties in 3 states. The latest contract will have a K5 patrolling the parking lots in front of an Illinois casino to stave off car thefts, break-ins, and criminal trespassing.
• A residential developer committed to the preservation, restoration, and renovation of properties in Chicago, Kansas City, and St. Louis signed its first contract for a K5 ASR. They will use the K5 to patrol the parking lot of one of their many apartment complexes that houses university students at a well-known institution of higher learning.
• A teaching hospital that’s been around for nearly 100 years has purchased 5 K1 Blue Light Towers to improve communications and safety on their New York medical campus.

Knightscope continues to create value for its existing and prospective clients, which is reflected in the building sales curve over the past year. These transactions further enhance the quality and growth profile of the Company by increasing portfolio exposure to higher-growth, multi-site end users allowing for long-term expansion.

If you have a property that might benefit from sophisticated security technologies, then schedule a call or demo with one of our experts and discover how Knightscope is already protecting the places people live, work, study and visit today.

About Knightscope

Knightscope is an advanced security technology company based in Silicon Valley that builds fully autonomous security robots that deter, detect and report. Knightscope’s long-term ambition is to make the United States of America the safest country in the world. Learn more about the company at www.knightscope.com. Follow Knightscope on Facebook, Twitter, LinkedIn and Instagram.

Forward-Looking Statements

This press release may contain “forward-looking statements” about Knightscope’s future expectations, plans, outlook, projections and prospects. Such forward-looking statements can be identified by the use of words such as “should,” “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” “proposes” and similar expressions. Forward-looking statements contained in this press release include, but are not limited to, statements about the Company’s path to profitability, the Company’s targeted annualized revenue run rate, the Company’s plans for top-line growth, the Company’s ability to deliver on its backlog of new orders, the benefits of the Company’s planned streamlining of its operations and rightsizing of its combined workforce and the Company’s ability to achieve improved margins. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Readers are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Knightscope’s Annual Report on Form 10-K for the year ended Dec. 31, 2021. Forward-looking statements speak only as of the date of the document in which they are contained, and Knightscope does not undertake any duty to update any forward-looking statements except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230106005074/en/

Public Relations:

Stacy Stephens

Knightscope, Inc.

(650) 924-1025

Corporate Communications:

IBN (InvestorBrandNetwork)

Los Angeles, California

www.InvestorBrandNetwork.com

310.299.1717 Office

Editor@InvestorBrandNetwork.com

Source: Knightscope, Inc.

FAQ

What recent contracts did Knightscope (KSCP) announce?

Knightscope announced four new contracts totaling eight machines, including three K5 Autonomous Security Robots and five K1 Blue Light Towers.

How will the new machines benefit Knightscope (KSCP)?

The new machines enhance Knightscope's revenue potential by increasing its presence in key markets and supporting long-term expansion.

Where will Knightscope's new Autonomous Security Robots be deployed?

Deployment locations include a finance company in Jacksonville, FL, an entertainment company in Illinois, and residential complexes in Chicago, Kansas City, and St. Louis.

What types of clients are engaging with Knightscope (KSCP)?

Clients include major finance companies, entertainment corporations, residential developers, and teaching hospitals.