Knightscope (Nasdaq: KSCP) Receives 5 New Contracts

Rhea-AI Summary

Knightscope, Inc. (Nasdaq: KSCP) has announced the acquisition of five new contracts for its Autonomous Security Robots (ASR) and Blue Light Emergency Communication services across various U.S. states. Key contracts include deployments in Chicago, North Carolina, Oklahoma, New Jersey, and Texas, showcasing the company's market expansion. Additionally, Knightscope has secured renewals from existing clients, including a Houston hospital. These developments highlight Knightscope's ongoing growth and the effectiveness of its security solutions in addressing crime and safety issues.

Positive

• Acquisition of five new contracts for ASR and Blue Light Emergency services.
• New deployments in high-crime areas like Chicago, indicating growing demand.
• Secured renewals from current clients, signaling client satisfaction and effectiveness of solutions.

Negative

• None.

Public Safety Innovator Continues to Accelerate Growth Alongside Sustained Renewals

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. (Nasdaq: KSCP), a leading developer of autonomous security robots, continues to accelerate market expansion with five new contracts for its Autonomous Security Robot (ASR) and Blue Light Emergency Communication services across multiple U.S. states.

Knightscope (Nasdaq: KSCP) Receives 5 New Contracts (Photo: Business Wire)

The contracts and deployment locations are as follows:

• A property management group in Chicago will have a K5 ASR patrolling the parking lot of a mixed-use facility with both retail and professional clients as tenants. This will be the Company’s second deployment in the City of Chicago in an area where crime, trespassing, vehicle break-ins, and catalytic converter thefts are at epidemic levels.
• A police department in North Carolina has purchased a K1 Call Box to aid in direct emergency communications for its citizens.
• Knightscope scored another Tribal casino client, which will be the first contract in Oklahoma. There are 39 Tribal Nations in Oklahoma alone, and they collectively have over 80 casinos.
• An airport in New Jersey is replacing a competitor’s product with a K1 Blue Light Emergency Phone.
• 4 K1 Call Boxes will be going to a construction company in Texas completing a new bridge. The phones will be used to assist in suicide prevention.

Knightscope’s expanded product line is helping its clients protect the places people live, work, study and visit in many new ways. In addition to this ongoing new growth, Knightscope perseveres with sustained renewals received from existing clients, further validating the long-term effectiveness of its technologies.

• A Houston-based hospital signed a 2-year renewal for its 2 K3 ASRs. This will be the 5^th and 6^th years of service for these Texan robots.
• Featured in multiple local news stories touting a significant reduction in vehicle break ins, auto thefts and other types of crimes, a Portland hotel renewed its agreement to keep their K5 patrolling its parking lot for another year.

These renewals are a testament to the positive impact Knightscope’s technologies have actually solving real problems at a very affordable rate. Click here to discover what Knightscope tools will best help you in your specific application 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/20221221005181/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) recently acquire?

Knightscope has acquired five new contracts for its Autonomous Security Robots and Blue Light Emergency Communication services.

Where are the new deployments for Knightscope's security robots located?

New deployments are located in Chicago, North Carolina, Oklahoma, New Jersey, and Texas.

How does Knightscope's new growth impact its market position?

Knightscope's new contracts and renewals enhance its market presence and validate the effectiveness of its security solutions.

What is the significance of Knightscope's contract renewals?

Contract renewals demonstrate client satisfaction and the long-term efficacy of Knightscope's technologies in reducing crime.