Knightscope Secures Over $1M in Annual Recurring Revenue through Renewals

Rhea-AI Summary

Knightscope (NASDAQ: KSCP) has secured over $1 million in annual recurring revenue through multiple renewals, including 7 Autonomous Security Robots (ASRs) and Full Service Maintenance agreements for 14 K1B clients covering 930+ Emergency Communication Devices (ECDs).

Notable renewals include Dignity Health extending its Machine-as-a-Service (MaaS) subscription for an 8th consecutive year, a Top 10 Fortune 500 entertainment renewing for its 8th year, and Westland residential community in Las Vegas maintaining its partnership for over four years.

Additionally, Lake Street Capital Markets has initiated coverage of KSCP, joining Ascendiant Capital Markets and H.C. Wainwright & Co. as the third independent analyst covering the stock, indicating growing market interest in the company's security technology solutions.

Positive

• Secured over $1M in annual recurring revenue through renewals
• Long-term client retention demonstrated by 8-year partnerships with major clients
• Expanded analyst coverage with third firm initiating research

Negative

• None.

Insights

Financial Analyst

The securing of $1 million+ in annual recurring revenue through renewals represents a significant milestone for Knightscope, particularly given its current market cap of approximately $45 million. The renewal package encompasses 7 Autonomous Security Robots (ASRs) and extended Full Service Maintenance agreements covering 930+ Emergency Communication Devices, demonstrating robust product diversification.

Most notably, the 8-year renewal streaks from both Dignity Health and a top-tier Fortune 500 entertainment serve as powerful validation of Knightscope's technology and service quality. Such long-term client retention is particularly valuable in the security robotics sector, where switching costs and implementation complexity can be significant barriers to adoption.

The expansion of analyst coverage to include Lake Street Capital Markets alongside Ascendiant Capital Markets and H.C. Wainwright & Co. is strategically important for three reasons:

• Enhanced market visibility and potential institutional investor access
• Independent validation of the business model and market opportunity
• Increased likelihood of improved trading liquidity and market awareness

The company's Machine-as-a-Service (MaaS) subscription model is proving particularly effective, generating predictable recurring revenue streams that are highly valued in current market conditions. The 4+ year renewal from Westland residential community further validates the model's applicability across diverse customer segments, from healthcare to entertainment and residential sectors.

Lake Street Capital Markets Initiates Coverage

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. (NASDAQ: KSCP), an innovator in robotics and artificial intelligence technologies focused on public safety, has successfully secured renewals for 7 Autonomous Security Robots (ASRs) and extended Full Service Maintenance (FSM) agreements for 14 K1B clients with Emergency Communication Devices (ECDs), covering over 930 ECDs. These renewals collectively contribute more than $1 million in annual recurring revenue.

(Graphic: Business Wire)

Among the renewed agreements, Dignity Health has extended its Machine-as-a-Service (MaaS) subscription for an 8th consecutive year. Additionally, a Top 10 Fortune 500 entertainment corporation renewed its agreement for an 8th year, reinforcing its continued confidence in Knightscope’s technology. Westland, a residential community in Las Vegas, NV, also renewed its MaaS subscription, marking over four years of partnership with Knightscope.

Further demonstrating growing market interest, a third independent analyst has initiated coverage of Knightscope’s stock. This latest initiation by Lake Street Capital Markets, alongside existing coverage from Ascendiant Capital Markets and H.C. Wainwright & Co., underscores the increasing recognition of Knightscope’s mission, technology, and market potential. While specific details of the Lake Street’s coverage can be accessed by contacting the investment bank’s Institutional Equity Research team, the expansion of analyst coverage reflects heightened engagement from the investment community in Knightscope’s long-term vision and business strategy.

Experience the Future Today

Knightscope’s portfolio of advanced public safety technologies – including the K1 Laser, Blue Light Emergency Communication Devices, Autonomous Security Robots and Automated Gunshot Detection Services – can enhance security where it matters most. Book a discovery call today at www.knightscope.com/discover.

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 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/20250210762740/en/

Public Relations

Drew McDowell

press@yourwashingtonoffice.com

Knightscope, Inc.

(650) 924-1025 ext. 6

Source: Knightscope, Inc.

FAQ

How much annual recurring revenue did Knightscope (KSCP) secure in recent renewals?

Knightscope secured over $1 million in annual recurring revenue through renewals of ASRs and FSM agreements.

How many Emergency Communication Devices (ECDs) are covered in Knightscope's recent renewals?

The renewals cover over 930 Emergency Communication Devices (ECDs) through 14 K1B clients.

Which major clients renewed their Knightscope (KSCP) contracts in 2024?

Dignity Health renewed for an 8th consecutive year, a Top 10 Fortune 500 entertainment renewed for an 8th year, and Westland residential community in Las Vegas renewed after four years of partnership.

How many analyst firms now cover Knightscope (KSCP) stock?

Three analyst firms now cover Knightscope: Lake Street Capital Markets, Ascendiant Capital Markets, and H.C. Wainwright & Co.