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Knightscope Client Renews Contract for Fourth Year
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Knightscope, Inc. (NASDAQ: KSCP) has announced the renewal of a Machine-as-a-Service (MaaS) subscription agreement with a San Francisco real estate investment firm for a fourth year. The K5 Autonomous Security Robot, known as 'Optimus Crime,' has been operational since 2019, providing security services for a multi-story parking structure. This renewal highlights Knightscope's growth strategy and validates the effectiveness of its technology, bolstering client confidence.
Positive
Renewal of a key client contract for the K5 Autonomous Security Robot, indicating client satisfaction and continued business.
Demonstrates the effectiveness and reliability of Knightscope's technology in real-world applications.
Aligns with Knightscope's growth strategy through recurring revenue from existing clients.
Negative
None.
Public Safety Innovator Continues Market Expansion
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
Knightscope, Inc. [Nasdaq: KSCP], a developer of advanced physical security technologies focused on enhancing U.S. security operations, today announced that a San Francisco based real estate investment firm renewed its Machine-as-a-Service (MaaS) subscription agreement for a fourth year. The K5 Autonomous Security Robot (ASR), affectionately named “Optimus Crime,” has been watching over a multi-story parking structure since 2019 and will continue to help detect unauthorized parking, ward off criminal mischief and provide coverage in areas where fixed cameras fail to reach. Client renewals are essential to Knightscope’s growth strategy and prove to validate the longevity and effectiveness of the technology to new, incoming clients.
Knightscope Client Renews Contract for Fourth Year (Photo: Business Wire)
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 us 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. 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. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in our 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.
What recent development has Knightscope (KSCP) announced?
Knightscope announced the renewal of a Machine-as-a-Service (MaaS) subscription agreement for a fourth year with a San Francisco real estate firm.
What is the significance of the K5 Autonomous Security Robot for Knightscope?
The K5 Autonomous Security Robot, nicknamed 'Optimus Crime,' has been providing security services since 2019 and its contract renewal demonstrates client satisfaction and the technology's effectiveness.
How does the contract renewal impact Knightscope's business outlook?
The renewal contributes to Knightscope's growth strategy by ensuring recurring revenue and validating their technology's performance in the market.
