Knightscope Deploys K5 GOV with U.S. Department of Veterans Affairs

Rhea-AI Summary

Knightscope, Inc. deploys the K5 GOV Autonomous Security Robot at a U.S. Department of Veterans Affairs facility, achieving a major milestone in the company's growth. The robot is patrolling the Audie L. Murphy VA Medical Center in Texas after receiving an Authority to Operate from FedRAMP. This opens up opportunities for Knightscope to expand its technology to other federal departments and agencies. The company's compliance with Buy America and Buy American Act signals its commitment to domestic manufacturing and the U.S. economy.

Positive

• The deployment of the K5 GOV Autonomous Security Robot at the U.S. Department of Veterans Affairs marks a significant milestone in Knightscope's growth trajectory.

• Receiving the Authority to Operate from FedRAMP opens up new opportunities for Knightscope to introduce its technology to other federal departments and agencies.

• Compliance with the Buy America and Buy American Act demonstrates Knightscope's commitment to domestic manufacturing and supporting the U.S. economy.

• The increase in the Total Addressable Market (TAM) for the Company due to recent developments enhances the sales momentum towards profitability.

Negative

• None.

Public Safety Innovator Achieves Major Milestone with Entrance to Federal Sector

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. [Nasdaq: KSCP] (“Knightscope” or the “Company”), an innovator in robotics and artificial intelligence (“AI”) technologies focused on public safety, today announces that a K5 GOV Autonomous Security Robot (“ASR”) is patrolling on a U.S. Department of Veterans Affairs property – the Audie L. Murphy VA Medical Center in San Antonio, Texas – marking a major milestone in the Company’s growth trajectory.

Knightscope Deploys K5 GOV with U.S. Department of Veterans Affairs (Photo: Business Wire)

After three years of diligence, Knightscope’s efforts were rewarded with an Authority to Operate from FedRAMP, opening the door for new stakeholders to begin evaluating the use of Knightscope technologies among other federal departments and agencies.

“The ‘K5 GOV’ designation reflects an entirely new hardware and software architecture to comply with stringent U.S. Federal Government requirements and simplifies agency adoption and procurement. I am grateful for the efforts of our relentless Knightscope team, and we are honored to play a small part in serving our Nation’s veterans,” said William Santana Li, Chairman and CEO, Knightscope, Inc.

To learn more about the possible applications of Knightscope technology in the federal sector, including the opportunity to download the white paper “Artificial Intelligence, Emergency Communications and Robots Enhancing Federal Security Programs”, please visit www.knightscope.com/federal.

Knightscope’s K5 GOV was distributed through the GSA Schedule, facilitated by our veteran owned small business (“VOSB”) partner, MediaNow Inc. The Company also recently announced its compliance with the Buy America and Buy American Act further solidifying its commitment to supporting the U.S. economy and maintaining the highest standards of domestic manufacturing. These latest developments significantly increase the TAM (Total Addressable Market) that the Company can serve and builds on the sales momentum towards profitability.

About Knightscope

Knightscope builds cutting-edge technologies to improve public safety, and our long-term ambition is to make the United States of America the safest country in the world. Learn more about us and book a discovery call or demonstration today at www.knightscope.com/discovery

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. 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 and other communications include, but are not limited to, statements about the Company’s goals, profitability, growth, prospects, reduction of expenses, and outlook. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks, uncertainties and other important factors that could cause actual results to differ materially from such forward-looking statements, including the factors discussed under the heading “Risk Factors” in Knightscope’s Annual Report on Form 10-K for the year ended December 31, 2023, as updated by its other filings with the Securities and Exchange Commission. 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/20240502564007/en/

Public Relations:

Stacy Stephens

Knightscope, Inc.

(650) 924-1025

Source: Knightscope, Inc.

FAQ

What is the major milestone achieved by Knightscope, Inc.?

Knightscope deploys the K5 GOV Autonomous Security Robot at the U.S. Department of Veterans Affairs facility.

What is the location of the U.S. Department of Veterans Affairs property where the K5 GOV robot is patrolling?

The K5 GOV Autonomous Security Robot is patrolling at the Audie L. Murphy VA Medical Center in San Antonio, Texas.

What designation does the K5 GOV reflect?

The 'K5 GOV' designation reflects an entirely new hardware and software architecture to comply with stringent U.S. Federal Government requirements.

How can stakeholders learn more about the applications of Knightscope technology in the federal sector?

Stakeholders can visit www.knightscope.com/federal to download the white paper 'Artificial Intelligence, Emergency Communications and Robots Enhancing Federal Security Programs'.

What compliance did Knightscope recently announce?

Knightscope recently announced its compliance with the Buy America and Buy American Act.

Through which partner was the K5 GOV distributed?

The K5 GOV Autonomous Security Robot was distributed through the GSA Schedule by the veteran-owned small business partner, MediaNow Inc.