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Knightscope (Nasdaq: KSCP) Announces Largest Contract in Company History
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Rhea-AI Summary
Knightscope, Inc. (Nasdaq: KSCP) has announced its largest contract in company history, securing deals for 12 K5 Autonomous Security Robots and additional emergency communication systems in New York and Georgia. The K5's capabilities enhance client safety and crime prevention. The new contracts are expected to significantly contribute to Knightscope's goal of tripling annualized revenue in the next year, reflecting strong growth potential.
Positive
Largest contract in company history signed, increasing market presence.
Contracts include 12 K5 Autonomous Security Robots and advanced communication systems.
Projected tripling of annualized revenue over the next 12 months.
Negative
None.
Robust Net Sales Growth Supports Projected Outlook
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
Knightscope, Inc. (Nasdaq: KSCP), a leading developer of autonomous security robots, today announces the largest single contract in the Company’s history alongside 2 new contracts from cities in New York and Georgia. The contracts consist of 12 K5 Autonomous Security Robots (ASRs), 2 K1 Blue Light Towers and 2 K1 Call Boxes.
Knightscope (Nasdaq: KSCP) Announces Largest Contract in Company History (Graphic: Business Wire)
A key decision-making factor for the larger client was the K5’s unmatched capabilities that are not part of the current security program. The company will be deploying ASRs as part of an overall “layered” approach to give them unprecedented eye-level views and coverage. The ASRs will deter crime, criminal trespassing and loitering while providing their employees with greater personal safety.
The two cities electing to expand their communication capabilities selected Knightscope K1 Blue Light Emergency Towers and Emergency Call Boxes using cellular and satellite communications with solar power to provide additional safety in remote locations. These newer, more advanced wireless systems will save end users money on both infrastructure and hardware costs, while improving reliability on a modern communication network.
“Knightscope continues to deliver on its promise to rapidly grow the Company and help make the United States of America the safest country in the world,” said William Santana Li, chairman and CEO at Knightscope. “Today’s announcement further supports my recent public address where we project tripling our annualized revenue over the next twelve months.” Watch the video here.
More and more people are discovering the many valuable and far-reaching use cases for Knightscope ASRs and emergency communications systems. Learn how Knightscope helps protect the places people live, work, study and visit now by booking a brief call or demo online with one of our experts at www.knightscope.com/discover.
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. 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.
