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7 Clients Renew Annual Contracts with Knightscope (Nasdaq: KSCP)
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Knightscope, Inc. (Nasdaq: KSCP) has announced that seven key clients have renewed their contracts for another year, affirming the efficacy of their security solutions. These clients span various industries, including healthcare, hospitality, banking, and residential sectors. The renewals highlight the trust clients have in Knightscope's autonomous security robots and emergency systems, which have proven effective in reducing crime rates. CEO William Santana Li emphasized that these ongoing agreements validate their Machine-as-a-Service (MaaS) model, supporting recurring revenue for crucial security needs.
Client renewals span diverse sectors, showing broad applicability of their security solutions.
The contracts reflect confidence in Knightscope’s autonomous technology to enhance safety.
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Public Safety Innovator Validated as a Worthy Add to Security Programs
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
Knightscope, Inc. (Nasdaq: KSCP) (“Knightscope” or the “Company”), a leading developer of autonomous security robots and emergency systems, is proud to announce 7 key clients have renewed their contracts for another year.
7 Clients Renew Annual Contracts with Knightscope (Nasdaq: KSCP) (Photo: Business Wire)
The renewal agreements include clients from a variety of industries, including a hospital, hotel, bank, commercial property developer, mass media company, and two residential communities. Knightscope’s innovative products and services have enabled these clients to reduce crime rates and improve security operations at their respective facilities, and their renewals are a testament to the trust they place in the Company to continue delivering on their mission to protect the places people live, work, study and visit.
"Ongoing renewals from our client base, some going on their 4th, 5th, and 6th years, validate the premise for our Machine-as-a-Service (MaaS) business model: recurring revenue for a recurring societal problem,” said William Santana Li, chairman and CEO, Knightscope, Inc. “We are grateful to our clients for working with us to take this cutting-edge technology from movie screen science fiction to mainstream science fact."
Knightscope is a leading provider of Autonomous Security Robots (ASRs) and the recently acquired blue light emergency communication systems. Its technologies combine robotics, software, and services to offer an innovative way to augment real-time crime prevention and improve public safety measures. The robots patrol client premises and detect anomalies, while communication systems allow visitors to contact local law enforcement or security personnel in case of an emergency.
Knightscope helps its clients solve real security problems. Hospitals must prevent theft and vandalism while ensuring the safety of patients, visitors, and staff. Hotels must protect guests and their belongings, while banks need to secure their premises from theft and help deter fraud. Commercial property developers must keep their buildings safe from intruders, and mass media companies must protect their valuable assets. And residential communities must protect against vandalism and various property crimes.
Anyone looking for an innovative security solution for properties in the U.S. may book a discovery call or meeting now at www.knightscope.com/discover to learn more about Knightscope’s autonomous security robots and blue light emergency communication systems.
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. These risks and uncertainties include, among other things, the risk that the restructuring costs and charges may be greater than anticipated; the risk that the Company’s restructuring efforts may adversely affect the Company’s internal programs and the Company’s ability to recruit and retain skilled and motivated personnel, and may be distracting to employees and management; the risk that the Company’s restructuring efforts may negatively impact the Company’s business operations and reputation with or ability to serve customers; the risk that the Company’s restructuring efforts may not generate their intended benefits to the extent or as quickly as anticipated. 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 December 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.
