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Knightscope Robot Deliveries Reduce $5 Million Backlog Over 12% in One Month
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Knightscope, Inc. (Nasdaq: KSCP) recently made significant strides in its operations by shipping multiple Autonomous Security Robots (ASRs) in the last month, generating around $258,000 in annualized revenue. Key shipments went to locations in California, Florida, New York, Washington, and Washington DC. Additionally, Knightscope shipped numerous blue light emergency communication systems, contributing $417,000 to revenue and reducing the company’s backlog by over 12%, totaling a reduction of $5 million.
Moreover, Westland Real Estate Group renewed its security robot contract to patrol a high-crime Las Vegas residential area, highlighting Knightscope's effectiveness. The company also announced its upcoming Robot Roadshow at Margaritaville Casino in Louisiana on April 26-27, aimed at showcasing its innovative technologies for public safety.
Positive
Multiple Autonomous Security Robots shipped, resulting in approximately $258,000 annualized revenue.
Blue light emergency communication systems shipped, contributing an additional $417,000 in revenue.
Backlog reduced by more than 12%, totaling $5 million.
Contract renewal with Westland Real Estate Group for a security robot in high-crime area demonstrates company effectiveness.
Upcoming Robot Roadshow in Louisiana promotes public engagement and awareness of security technology.
Negative
None.
Westland Real Estate Group Renews Security Robot Contract for Las Vegas Multi-Family Community
Robot Roadshow Makes Louisiana Debut at Margaritaville Casino
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
Knightscope, Inc. (Nasdaq: KSCP) (“Knightscope”), a leading developer of autonomous security robots and blue light emergency communication systems, today announced that it shipped multiple Autonomous Security Robots (ASRs) over the last 30 days, representing approximately $258 thousand of annualized revenue. ASRs are arriving in California, Florida, New York, Washington and Washington DC to help better secure the places people live, work, study, and visit. Also contributing to the backlog reduction were shipments of numerous blue light emergency communication systems, representing approximately $417 thousand in revenue. In total, this contributed to the reduction of the Company’s $5 million backlog by more than 12%.
Knightscope Robot Deliveries Reduce $5 Million Backlog Over 12% in One Month (Photo: Business Wire)
WESTLAND RENEWS SECURITY ROBOT CONTRACT
Westland Real Estate Group, which operates over 65 residential communities on the west coast, renewed its contract to use a Knightscope K5 ASR to patrol one of its Las Vegas residential communities in an area known to have high crime rates. The mobile security robot performs routine patrol activities and constantly communicates with the residential community’s staff. The Executive Director of the Nevada State Apartments Association, Susy Vazquez, was quoted as saying, “WOW! Westland, again, is stepping outside the box and addressing issues with innovation! I'm fascinated by the capabilities of this bot and its effectiveness.”
ROBOT ROADSHOW TO LAND AT MARGARITAVILLE
Knightscope’s Robot Roadshow is touring the U.S. and will be in Bossier City, Louisiana, April 26-27 from 10:00am to 2:00pm CT to allow members of the public, investors, and community leaders in public safety to learn about the Company, the machines and to view these technologies in action and in person. Reservations are encouraged, but not required. Anyone looking to learn more, as well as those seeking innovative solutions for security and public safety or improved emergency communications, may book their slot by clicking here.
Want a long-term public safety technology solution for your city or property? 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, 2022. 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.
