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Knightscope (Nasdaq: KSCP) Adds Another Reseller and Signs New Contracts
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Knightscope, Inc. (Nasdaq: KSCP) announces a significant partnership with GPI Defense, now a Knightscope Authorized Partner. This agreement includes the acquisition of 2 K5 autonomous security robots and a pre-order for 2 K1-Hemisphere robots, aimed at enhancing GPI's security services. Knightscope's strategy to increase profitability includes expanding reseller engagement and securing new contracts, including a pre-order from a large Midwestern healthcare group and a full-service agreement with a Southern California university for emergency communication systems. These initiatives signal Knightscope's commitment to enhancing public safety.
Positive
Partnership with GPI Defense to expand market presence and service offerings.
Contracts signed for 2 K5 and pre-order for 2 K1-Hemisphere Autonomous Security Robots.
New pre-order from a large healthcare group in the Midwest.
Full-service agreement with a Southern California university for emergency communications.
Negative
None.
Company Continues to Deliver on its Planned Path to Profitability
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
Knightscope, Inc. (Nasdaq: KSCP) (“Knightscope” or the “Company”), a leading developer of autonomous security robots and blue light emergency communication systems, today announces that GPI Defense, a Houston based provider of custom tailored security services, has executed an agreement to join the Company’s reseller program as a Knightscope Authorized Partner (KAP). GPI Defense also signed a contract for 2 K5s and a pre-order for 2 K1-Hemisphere Autonomous Security Robots (ASRs).
Knightscope (Nasdaq: KSCP) Adds Another Reseller and Signs New Contracts (Photo: Business Wire)
“GPI Defense’s mission is to defend and protect the best of humanity from the worst of it,” stated Troy Skeen, founder and CEO at GPI Defense. “Leveraging Knightscope’s technologies with my 25+ years of experience allows us to keep more people safe by providing a complete and transparent solution to our customers.”
GPI Defense will actively integrate Knightscope ASRs into its consulting and security services to expand its offering to include the most cutting-edge technologies focused on public safety, and the ASRs will be used as reseller demonstration devices for its customers.
“Knightscope and GPI Defense are aligned to protect the places people live, work, study and visit,” said William Santana Li, chairman and CEO, Knightscope. “There are already many Knightscope security robots in the Great State of Texas, and we plan to significantly increase our footprint with the help of GPI Defense.”
As laid out in its January announcement, Knightscope is executing its plan to pave the way to profitability through increased engagement with resellers and continued growth through new sales contracts. In addition to the new contracts above, Knightscope signed another pre-order sales agreement with a large healthcare group in the Mid-west. This client will start its fleet of Knightscope security solutions with 1 K1-Hemisphere to be placed in a passageway from the garage area that leads into the main entrance, once commercially available. A southern California university also executed a full-service agreement for its emergency communications system made up of Knightscope K1 Blue Light Towers.
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.
