Knightscope Robot Growth Accelerates with Existing Clients

Rhea-AI Summary

Knightscope, Inc. [Nasdaq: KSCP], a robotics and AI company focused on public safety, announces the expansion of its services with three existing clients. The company has deployed additional K5 Autonomous Security Robots (ASRs) at a hotel in Louisville, KY, a casino in Kansas City, KS, and a storage facility in Richmond, CA.

The Louisville hotel deployment marks the fifth K5 ASR for The Car Park, a Knightscope Authorized Partner. The Kansas City casino deployment is part of a larger master agreement announced in 2023, enabling expansion to 43 properties across the US. The Richmond storage facility deployment is the fifth location for one of the fastest-growing self-storage platforms in the US.

These K5 ASRs are designed to enhance safety, deter illicit activities, and serve as brand ambassadors. They offer features such as interactive experiences, conspicuous lighting, broadcast messages, and patrol sounds.

Positive

• Expansion of services with three existing clients, indicating customer satisfaction and trust
• Deployment of additional K5 Autonomous Security Robots in diverse sectors (hotel, casino, storage facility)
• Part of a larger master agreement enabling expansion to 43 properties across the US
• K5 ASRs serve multiple functions: security, deterrence, and brand ambassadorship

Negative

• None.

Insights

Market Research Analyst

The expansion of Knightscope's services with three existing clients signals growing market acceptance and potential for recurring revenue growth. The deployment of additional K5 Autonomous Security Robots (ASRs) across diverse sectors - hospitality, gaming and storage - demonstrates the versatility and scalability of Knightscope's technology.

Key points for investors:

• Expansion within existing client base suggests strong product satisfaction and potential for upselling opportunities
• Diverse client sectors indicate broad market applicability, potentially reducing industry-specific risks
• The master agreement with an entertainment company for 43 properties presents significant growth potential if fully realized
• Recurring revenue model from robot deployments could lead to improved financial stability over time

However, with a market cap of just $16.7 million, Knightscope remains a small-cap stock with inherent volatility risks. Investors should monitor the company's ability to convert these expansions into substantial revenue growth and progress towards profitability.

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. [Nasdaq: KSCP] (“Knightscope” or the “Company”), an innovator in robotics and artificial intelligence (“AI”) technologies focused on public safety, today announces the expansion of its services with three existing clients. These valued partners have deepened their commitment to Knightscope's innovative security solutions by deploying additional K5 Autonomous Security Robots (“ASRs”) across their properties. The latest deployments include new units at a hotel, casino, and storage facility, reflecting a growth in trust and satisfaction with Knightscope technology.

Knightscope Robot Growth Accelerates with Existing Clients (Photo: Business Wire)

Louisville, KY

The Car Park, a Knightscope Authorized Partner (“KAP”) in Idaho, deployed its fifth K5 ASR at a Louisville, Kentucky hotel. The K5 provides visitors with a unique, interactive guest experience. The robot’s commanding size along with its conspicuous lighting, strobe lights, broadcast messages and patrol sounds, effectively deter illicit activities and boost the safety of guests, staff and visitors.

Kansas City, KS

A casino in Kansas City, KS, received its K5 ASR under the larger master agreement announced in 2023 with an entertainment company and operator of integrated entertainment, sports content, and casinos. The master agreement enabled corporatewide expansion of Knightscope technologies to 43 properties across the United States.

Richmond, CA

One of the fastest-growing self-storage platforms in the United States with assets located primarily in high-density, urban markets, added a K5 ASRs at its fifth storage location. Previous deployments were announced earlier in Oregon, Florida, and two locations in California. The K5 is helping mitigate risk and elevating the protection offered to tenants and their belongings. In addition to their security duties, the robots broadcast helpful messages to passersby and act as brand ambassadors.

GET EXPERT HELP

To learn more about Knightscope’s portfolio of public safety technologies, including the recently announced K1 Laser or any of its Autonomous Security Robot, Blue Light Emergency Communication System or Automated Gunshot Detection Services, book a discovery call or demonstration today at www.knightscope.com/discover.

About Knightscope

Knightscope builds cutting-edge technologies to improve public safety, and our long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240925400366/en/

Public Relations:

Stacy Stephens

Knightscope, Inc.

(650) 924-1025

Source: Knightscope, Inc.

FAQ

What new deployments has Knightscope (KSCP) announced for its K5 Autonomous Security Robots?

Knightscope has announced new K5 ASR deployments at a hotel in Louisville, KY, a casino in Kansas City, KS, and a storage facility in Richmond, CA.

How many properties does Knightscope's (KSCP) master agreement with the entertainment company cover?

The master agreement enables Knightscope to expand its technologies to 43 properties across the United States.

What functions do Knightscope's (KSCP) K5 Autonomous Security Robots perform?

K5 ASRs enhance safety, deter illicit activities, provide interactive experiences, use conspicuous lighting and sounds for patrol, broadcast messages, and serve as brand ambassadors.

How many K5 ASRs has The Car Park, a Knightscope Authorized Partner, deployed?

The Car Park has deployed its fifth K5 ASR at a hotel in Louisville, Kentucky.