Knightscope (Nasdaq: KSCP) Earns 4 New Contracts for 7 Machines

Rhea-AI Summary

Knightscope, Inc. (Nasdaq: KSCP) announces four new contracts for seven Autonomous Security Robots (ASRs), contributing to its ongoing revenue growth. The contracts include deployments in Houston, St. Louis, and Dallas, enhancing security for various clients, including a major real estate firm and a local church. This strategic move aligns with the increasing demand for innovative security solutions amidst rising crime rates, as noted by the Council on Criminal Justice. Knightscope aims to solidify its position in the autonomous security sector by delivering effective technology.

Positive

• Secured four new contracts for seven ASRs, indicating strong demand for security solutions.
• New clients include a major commercial real estate firm and a church, diversifying the customer base.
• Expansion of services to existing clients reflects customer satisfaction and effectiveness of ASRs.

Negative

• None.

Public Safety Innovator Continues Growing Revenue with End of Year Sales

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. (Nasdaq: KSCP), a leading developer of autonomous security robots, announces 4 new contracts totaling 7 Autonomous Security Robots (ASRs) as part of its end-of-year push to support the Company’s commitment to continue accretively adding to its top-line revenue.

Knightscope (Nasdaq: KSCP) Earns 4 New Contracts for 7 Machines (Photo: Business Wire)

Details regarding the new contracts and deployment locations are as follows:

• One of Houston’s top commercial real estate brokerage and property management firms, with dozens of office locations across the U.S., signed an agreement for one K1 Hemisphere and one K1 Tower to protect a large parking structure at one of its many properties.
• A church in the area of St. Louis/Springfield, Missouri area will soon have a K1 Hemisphere to help curb nefarious activities related to people loitering on their property to take advantage of the beautiful, local scenery.
• Previously dissatisfied with the unreliable and expensive security guards hired to deter unwanted visitors and criminals at their facility, a Houston manufacturer of premium quality lubricants and associated products for the automotive, industrial and drilling markets contracted Knightscope earlier in 2022 to help better protect its property. Knightscope was deemed a success, and the client added another K5 ASR to its security program.
• Another expansion comes from a real estate investment company with properties in 14 U.S. states. This client is duplicating its previous order of two K5 ASRs, one K1 Tower and Knightscope+ remote monitoring service in Pittsburgh for one of its other properties in Dallas, Texas.

According to the Council on Criminal Justice, aggravated assaults, robberies, nonresidential burglaries, larcenies, and motor vehicle thefts all increased in the first half of 2022 giving security leaders ample motivation to explore new technologies like those offered by Knightscope. Click here to speak with an expert and discover how Knightscope is already protecting the places people live, work, study and visit today.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221229005045/en/

Public Relations:

Stacy Stephens

Knightscope, Inc.

(650) 924-1025

Corporate Communications:

IBN (InvestorBrandNetwork)

Los Angeles, California

www.InvestorBrandNetwork.com

310.299.1717 Office

Editor@InvestorBrandNetwork.com

Source: Knightscope, Inc.

FAQ

What new contracts did Knightscope (Nasdaq: KSCP) secure?

Knightscope secured four new contracts for seven Autonomous Security Robots (ASRs).

Where are the new Knightscope ASRs being deployed?

The new ASRs are being deployed in Houston, St. Louis, and Dallas.

What is the significance of the recent contracts for Knightscope (KSCP)?

The contracts are significant as they contribute to Knightscope's revenue growth and reflect increasing demand for automated security solutions.

How does the Council on Criminal Justice's report impact Knightscope's business?

The report highlights rising crime rates, motivating organizations to explore Knightscope's security technologies.