Knightscope Reports FY 2024 Results
Knightscope (NASDAQ: KSCP) reported its FY 2024 financial results, showing mixed performance with several key developments. Revenue decreased to $10.8 million from $12.8 million in 2023, while service revenue grew 4% to $7.5 million. The company reported increased losses with a gross loss of $(3.7) million and net loss of $(31.7) million.
Notable achievements include obtaining FedRAMP Authority to operate, launching the first K5 GOV unit with the VA, and securing an SBIR contract with the U.S. Air Force. The company strengthened its cash position to $11.1 million through $34.5 million in capital raised. The current backlog stands at $1.8 million, reduced from $5.2 million previously.
Strategic initiatives included leadership restructuring with a 40% reduction in executive headcount, appointment of new CFO and board members, and continued development of K7 Multi-Terrain ASR and K1 Super Tower products targeted for 2026 release. With nearly 10,000 Machines-in-Network deployed nationwide, Knightscope focuses on scaling its Machine-as-a-Service subscription model.
Knightscope (NASDAQ: KSCP) ha riportato i risultati finanziari per l'anno fiscale 2024, mostrando una performance mista con diversi sviluppi chiave. I ricavi sono diminuiti a 10,8 milioni di dollari rispetto ai 12,8 milioni di dollari del 2023, mentre i ricavi da servizi sono aumentati del 4% a 7,5 milioni di dollari. L'azienda ha registrato perdite crescenti con una perdita lorda di $(3,7) milioni e una perdita netta di $(31,7) milioni.
Tra i risultati notevoli ci sono l'ottenimento dell'Autorità FedRAMP per operare, il lancio della prima unità K5 GOV con il VA e l'assegnazione di un contratto SBIR con l'U.S. Air Force. L'azienda ha rafforzato la sua posizione di liquidità a 11,1 milioni di dollari attraverso 34,5 milioni di dollari di capitale raccolto. L'attuale portafoglio ordini è di 1,8 milioni di dollari, ridotto rispetto ai 5,2 milioni di dollari precedenti.
Le iniziative strategiche hanno incluso una ristrutturazione della leadership con una riduzione del 40% del personale esecutivo, la nomina di un nuovo CFO e membri del consiglio, e il continuo sviluppo dei prodotti K7 Multi-Terrain ASR e K1 Super Tower, previsti per il rilascio nel 2026. Con quasi 10.000 macchine in rete distribuite a livello nazionale, Knightscope si concentra sull'espansione del suo modello di abbonamento Machine-as-a-Service.
Knightscope (NASDAQ: KSCP) informó sus resultados financieros para el año fiscal 2024, mostrando un desempeño mixto con varios desarrollos clave. Los ingresos disminuyeron a 10,8 millones de dólares desde 12,8 millones de dólares en 2023, mientras que los ingresos por servicios crecieron un 4% hasta 7,5 millones de dólares. La compañía reportó pérdidas incrementadas con una pérdida bruta de $(3,7) millones y una pérdida neta de $(31,7) millones.
Los logros notables incluyen la obtención de la Autoridad FedRAMP para operar, el lanzamiento de la primera unidad K5 GOV con el VA y la obtención de un contrato SBIR con la Fuerza Aérea de EE. UU. La compañía fortaleció su posición de efectivo a 11,1 millones de dólares a través de 34,5 millones de dólares en capital recaudado. El actual backlog se sitúa en 1,8 millones de dólares, reducido de 5,2 millones de dólares anteriormente.
Las iniciativas estratégicas incluyeron una reestructuración del liderazgo con una reducción del 40% en el número de ejecutivos, el nombramiento de un nuevo CFO y miembros de la junta, y el desarrollo continuo de los productos K7 Multi-Terrain ASR y K1 Super Tower, dirigidos a su lanzamiento en 2026. Con casi 10,000 máquinas en red desplegadas a nivel nacional, Knightscope se enfoca en escalar su modelo de suscripción Machine-as-a-Service.
Knightscope (NASDAQ: KSCP)는 2024 회계연도 재무 결과를 발표하며 여러 주요 개발 사항과 함께 혼합된 성과를 보였습니다. 수익은 2023년의 1,280만 달러에서 1,080만 달러로 감소했으며, 서비스 수익은 4% 증가하여 750만 달러에 달했습니다. 회사는 총 손실이 $(370만) 달러, 순손실이 $(3,170만) 달러로 증가한 것을 보고했습니다.
주요 성과로는 운영을 위한 FedRAMP 권한 획득, VA와 함께한 첫 번째 K5 GOV 유닛 출시, 미국 공군과의 SBIR 계약 확보가 있습니다. 회사는 3,450만 달러의 자본을 통해 현금 보유액을 1,110만 달러로 강화했습니다. 현재 백로그는 이전의 520만 달러에서 줄어든 180만 달러입니다.
전략적 이니셔티브에는 경영진 인력 40% 감축을 포함한 리더십 재구성, 새로운 CFO 및 이사회의 구성원 임명, 2026년 출시를 목표로 하는 K7 Multi-Terrain ASR 및 K1 Super Tower 제품의 지속적인 개발이 포함되었습니다. 전국에 배치된 거의 10,000대의 네트워크 기계와 함께 Knightscope는 Machine-as-a-Service 구독 모델의 확장에 집중하고 있습니다.
Knightscope (NASDAQ: KSCP) a publié ses résultats financiers pour l'exercice 2024, montrant une performance mitigée avec plusieurs développements clés. Le chiffre d'affaires a diminué à 10,8 millions de dollars contre 12,8 millions de dollars en 2023, tandis que les revenus de services ont augmenté de 4 % pour atteindre 7,5 millions de dollars. L'entreprise a signalé des pertes accrues avec une perte brute de $(3,7) millions et une perte nette de $(31,7) millions.
Les réalisations notables incluent l'obtention de l'
Les initiatives stratégiques comprenaient une restructuration de la direction avec une réduction de 40 % des effectifs exécutifs, la nomination d'un nouveau CFO et de nouveaux membres du conseil, et le développement continu des produits K7 Multi-Terrain ASR et K1 Super Tower, prévus pour une sortie en 2026. Avec près de 10 000 machines déployées dans le réseau à l'échelle nationale, Knightscope se concentre sur l'extension de son modèle d'abonnement Machine-as-a-Service.
Knightscope (NASDAQ: KSCP) hat seine finanziellen Ergebnisse für das Geschäftsjahr 2024 veröffentlicht und dabei eine gemischte Leistung mit mehreren wichtigen Entwicklungen gezeigt. Der Umsatz sank auf 10,8 Millionen Dollar von 12,8 Millionen Dollar im Jahr 2023, während die Serviceumsätze um 4% auf 7,5 Millionen Dollar stiegen. Das Unternehmen berichtete von erhöhten Verlusten mit einem Bruttoverlust von $(3,7) Millionen und einem Nettoverlust von $(31,7) Millionen.
Zu den bemerkenswerten Erfolgen gehört die Erlangung der FedRAMP-Behörde zur Durchführung von Operationen, die Einführung der ersten K5 GOV-Einheit mit dem VA und die Sicherung eines SBIR-Vertrags mit der US-Luftwaffe. Das Unternehmen hat seine Liquiditätsposition auf 11,1 Millionen Dollar durch 34,5 Millionen Dollar an aufgebrachten Kapital gestärkt. Der aktuelle Auftragsbestand beträgt 1,8 Millionen Dollar, reduziert von zuvor 5,2 Millionen Dollar.
Zu den strategischen Initiativen gehörten eine Umstrukturierung der Führungsebene mit einer Reduzierung der Exekutivmitarbeiter um 40%, die Ernennung eines neuen CFO und neuer Vorstandsmitglieder sowie die kontinuierliche Entwicklung der Produkte K7 Multi-Terrain ASR und K1 Super Tower, die für eine Veröffentlichung im Jahr 2026 vorgesehen sind. Mit fast 10.000 Maschinen im Netzwerk, die landesweit eingesetzt werden, konzentriert sich Knightscope auf die Skalierung seines Abonnementmodells Machine-as-a-Service.
- Service revenue increased 4% YoY to $7.5M
- Secured FedRAMP Authority and federal contracts with VA and USAF
- Strengthened cash position to $11.1M through $34.5M capital raise
- Reduced backlog to $1.8M from $5.2M, improving operational efficiency
- 40% reduction in executive headcount lowering operational costs
- Revenue declined 15.6% to $10.8M from $12.8M YoY
- Gross loss increased to $(3.7M) from $(2.0M)
- Operating loss widened to $(29.7M) from $(26.3M)
- Net loss increased to $(31.7M) from $(22.1M)
- Product line restructuring and facility consolidation impacted revenue
Insights
Knightscope's FY2024 results reveal a company in transition, with financial metrics showing deterioration while strategic initiatives point toward potential future growth. The
The concerning aspects of these results are the widening losses across all measures. Gross loss expanded to
What's notable is the
The federal market expansion represents the most promising development, with FedRAMP certification opening doors to government contracts. Initial wins with the VA and Air Force provide validation, though government sales cycles are typically lengthy and won't immediately offset losses.
The reduction in backlog from
Transformation Year Drives Key Milestones, Federal Wins, and Strengthened Financial Position
Fiscal Year 2024 Financial Highlights
-
Revenue:
$10.8 million $12.8 million -
Service Revenue: Up
4% YoY to$7.5 million -
Gross Loss: Increased to
$(3.7) million $(2.0) million -
Operating Loss:
$(29.7) million $(26.3) million -
Net Loss:
$(31.7) million $(10.97) $(22.1) million $(16.77) -
Cash Balance: Strengthened to
$11.1 million $34.5 million
Strategic and Operational Highlights
Federal Expansion
- Achieved FedRAMP Authority to Operate, unlocking direct federal sales.
-
Launched first K5 GOV unit with the
U.S. Department of Veterans Affairs. -
Awarded a Phase 1 SBIR contract with the
U.S. Air Force.
Backlog Efficiency
-
Current backlog:
$1.8 million $0.5M $1.3M $5.2 million
Product Innovation
- Continued development of K7 Multi-Terrain ASR and K1 Super Tower, both targeting 2026 commercial availability.
Leadership Overhaul
- Appointed new CFO and independent board members.
-
Reduced executive headcount ~
40% to enhance agility and operational focus.
Client-Focused Execution
- Replaced legacy K5 ASRs at no cost to clients, reinforcing product quality and trust.
Market Outlook
Knightscope continues to scale its Machine-as-a-Service (MaaS) subscription model, driving predictable recurring revenue and long-term client engagement. The Company is actively expanding its federal pipeline with early traction at the VA and USAF, and is pursuing multiple additional agency opportunities through its new
With nearly 10,000 Machines-in-Network deployed nationwide, Knightscope is well positioned to address rising labor costs, public safety concerns, and increased demand for automated physical security solutions.
Executive Commentary
“2024 was a pivotal year,” said William Santana Li, Chairman and CEO. “We made dozens of transformative changes across the business—technologically, operationally, and financially. These foundational moves, combined with our entry into the federal market, set the stage for strong growth in 2025 and beyond. The era of Physical AI and Robotics is accelerating, and Knightscope is positioned to lead.”
“We have made material improvements up and down the income statement and significant improvement to our balance sheet and capital structure, providing for a much stronger foundation for growth,” said Apoorv S Dwivedi, EVP and CFO. “We believe new product development coupled with market drivers for automation and our extensive experience in public safety and autonomy, provides us a unique opportunity for substantial growth,” continued Dwivedi.
About Knightscope
Knightscope is transforming public safety with cutting-edge robotics and AI technologies. From autonomous security robots to advanced detection systems, Knightscope is committed to building safer communities where you live, work, study and visit. Our long-term ambition is bold but simple: to make
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. 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 and other communications include, but are not limited to, statements about the Company’s goals, profitability, growth, prospects, reduction of expenses, and outlook. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks, uncertainties and other important factors that could cause actual results to differ materially from such forward-looking statements, including the factors discussed under the heading "Risk Factors" in Knightscope’s Annual Report on Form 10-K for the year ended December 31, 2023, as updated by its other filings with the Securities and Exchange Commission. 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.
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Public Relations
Drew McDowell
press@yourwashingtonoffice.com
Knightscope, Inc.
(650) 924-1025 ext. 6
Source: Knightscope, Inc.
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