Knightscope (Nasdaq: KSCP) Sells 13 More Machines

Rhea-AI Summary

Knightscope, Inc. (Nasdaq: KSCP) announced robust sales activity with the sale of 13 autonomous security machines from five contracts, marking a strong start for 2023. The sales include a K5 Autonomous Security Robot for a private equity firm in Portland and multiple units for a property management group in Ohio. The company continues its strategic growth with new partnerships and expansion of its product line, including upcoming releases of the K1 Hemisphere ASR. Knightscope aims to enhance security measures across various sectors, addressing pressing safety concerns.

Positive

• Secured contracts for 13 machines from five new clients, enhancing sales momentum.
• Partnerships with diverse clients including private equity firms and property management groups.
• Upcoming launch of the K1 Hemisphere ASR expected to broaden product offerings.

Negative

• None.

Public Safety Innovator Continues to Grow Sales Momentum

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. (Nasdaq: KSCP) (“Knightscope” or the “Company”), a leading developer of autonomous security robots and emergency systems, announces sales of 13 machines from 5 contracts contributing to a positive start to sales for the year. Knightscope further continues to deliver on its strategy as covered in the recent Rise of the Robots series laying down a strong foundation for 2023. The details of the new sales are as follows:

Knightscope (Nasdaq: KSCP) Sells 13 More Machines (Graphic: Business Wire)

• A Portland private equity real estate investment firm signed a contract for a K5 Autonomous Security Robot (ASR) to patrol the parking garage of a downtown skyscraper, augmenting security guards to help deter daytime vandalism and vehicle theft.
• An Ohio property management group selected a K5 ASR to patrol the parking lots and areas surrounding a retail and entertainment outdoor venue. This is a mixed-use facility and particularly exciting as it addresses an area where the crime, criminal vagrancy, vehicle break-ins, and catalytic converter thefts are at epidemic levels.
• A full-service security company founded in 1977 offering professional and complete security services for residential, commercial, and industrial customers in Washington, Oregon, California, and Alaska executed an agreement for a K5 ASR as a precursor to becoming an authorized Knightscope reseller. The K5 will patrol this client’s Washington parking lot acting as a “ShowBot” to demonstrate to their customers in the pacific NW.
• Another emerging Knightscope Authorized Partner (KAP) in San Diego contracted for 4 K5’s and pre-ordered 4 K1 Hemisphere ASRs, estimated to be commercially released in the first half of 2023. This is the first sale of many through this new KAP to one of their long-time customers for which they provide security solutions across 15 properties. We'll be initially deploying 1 x K5 and 1 x K1 H, upon its commercial release, to each of 4 properties to reduce crime, save costs on overnight guard hours and promote a higher level of security. For each of these multi-family residential communities, the K5 will patrol the parking areas and grounds primarily during the night shift, and the K1 Hemi will be placed at mailbox areas to reduce theft of mail and packages.
• And finally, another existing southern California university client is expanding its emergency communication system with 1 K1 Blue Light Tower and 1 K1 Blue Light E-Phone.

Anyone looking for an innovative security solution or advanced communication devices for properties in the U.S. may book a discovery call or meeting now at www.knightscope.com/discover to learn more about Knightscope’s autonomous security robots and blue light emergency communication systems.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005415/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

FAQ

What recent sales did Knightscope announce?

Knightscope announced the sale of 13 autonomous security machines from five contracts.

Which contracts contributed to Knightscope's sales momentum?

Contracts include sales to a private equity firm in Portland and a property management group in Ohio.

What is the significance of the K1 Hemisphere ASR for Knightscope?

The K1 Hemisphere ASR, set for commercial release in 2023, is anticipated to enhance Knightscope's product line.

How does Knightscope plan to address security issues?

Knightscope's robots aim to deter crime and enhance security, particularly in high-risk areas.

What are the future plans for Knightscope?

Knightscope aims to expand its security solutions and establish partnerships across various sectors.