Knightscope (Nasdaq: KSCP) Secures 5 New Contracts Accelerating Growth

Rhea-AI Summary

Knightscope, Inc. (Nasdaq: KSCP) announces the acquisition of five new contracts for its Autonomous Security Robot (ASR) services, expanding its market presence across various U.S. locations. These new contracts include deployments in a pharmaceutical facility in Ohio, two hotels in Tennessee and Washington, a sports complex in New York, and a multi-family housing complex in Pennsylvania. This expansion adds to the previously disclosed 30 contracts in 2022, reinforcing Knightscope's commitment to addressing security challenges while generating recurring revenue.

Positive

• Acquisition of five new contracts for ASR services.
• Expansion into diverse markets, including healthcare, hospitality, and residential sectors.
• Continued growth with 30 contracts already announced in 2022, enhancing revenue stability.

Negative

• None.

Public Safety Innovator Continues Market Expansion Across Multiple Verticals

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. (Nasdaq: KSCP), a leading developer of autonomous security robots, continues its run of market expansion announcements with five new contracts for its Autonomous Security Robot (ASR) service in several verticals across multiple U.S. geographies. These wins continue to provide recurring revenue for ongoing societal problems.

Knightscope (Nasdaq: KSCP) Secures 5 New Contracts Accelerating Growth (Graphic: Business Wire)

The contracts, industries and deployment locations are as follows:

• A pharmaceutical’s global manufacturer and distributor of medical and laboratory products, and provider of performance and data solutions for healthcare facilities will have a K5 ASR patrolling its headquarters in Ohio.

• Two hotels - one in Tennessee and one in Washington - are each subscribing to a K5 ASR protecting employee, guest and visitor parking lots.

• A sports complex in New York will have a K5 ASR securing its parking lot and entrance against trespassers and deter vehicle and catalytic converter thefts.

• A multi-family housing complex in Pennsylvania (owned by an investment company with dozens of other properties in 14 states) will use a K1 ASR and two K5 ASRs to watch over the construction of a new development as well as enhance its security upon completion.

Today’s announcement is in addition to the 30 new contracts already disclosed to date in 2022 as Knightscope continues to penetrate the market with its groundbreaking security technologies and services.

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/20221101005664/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 recent contracts has Knightscope (KSCP) secured?

Knightscope has secured five new contracts for its Autonomous Security Robot services across various sectors.

How many contracts has Knightscope (KSCP) announced in 2022?

Knightscope has announced a total of 35 contracts in 2022, including the recent five.

What industries are involved in Knightscope's (KSCP) new contracts?

The new contracts involve industries such as pharmaceuticals, hospitality, sports, and residential housing.

In which states are Knightscope's (KSCP) new contracts located?

The new contracts are located in Ohio, Tennessee, Washington, New York, and Pennsylvania.