Larimer County Expands with 11 New Knightscope (Nasdaq: KSCP) K1 Call Boxes

Rhea-AI Summary

Knightscope, Inc. (Nasdaq: KSCP) recently announced the sale of 11 K1 Call Boxes to Larimer County, CO, marking a significant addition to its portfolio. This sale is part of over 30 new contracts and 7 renewals achieved in 2023, showcasing the company’s growth in autonomous security solutions. Knightscope has also surpassed 2 million hours of paid operations with its Autonomous Security Robots, highlighting their effectiveness and reliability. The company’s recent acquisition of CASE Emergency Systems has contributed to boosting top-line revenue. These developments signal a promising outlook for KSCP as it expands its market presence and enhances its service offerings.

Positive

• Secured 11 K1 Call Box sales to Larimer County, CO.
• Achieved over 30 new contracts and 7 client renewals in 2023.
• Surpassed 2 million hours of paid operations with Autonomous Security Robots.
• Recent acquisition of CASE Emergency Systems contributes to revenue growth.

Negative

• None.

30+ New Sales, 7 Client Renewals in 2023; Achieves Over 2 Million Hours in Operation

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. (Nasdaq: KSCP), a leading developer of autonomous security robots and blue light emergency communication systems, today announces the sale of 11 K1 Call Boxes to Larimer County, CO, through its resale partner Stream Speed Technologies (SST). The K1 Call Box is the Company’s smallest emergency call box system that delivers one-touch connection with a ruggedized housing and simple interface. Like all Knightscope K1 emergency communication products, it provides a completely wireless solution for emergency phone calls, or it can be adapted to work with existing wiring nearby. A handset and TeleTYpewriter (TTY) pad - a special device that lets people who are deaf, hard of hearing, or speech-impaired use the telephone to communicate - are additional options available on this device.

Larimer County Expands with 11 New Knightscope (Nasdaq: KSCP) K1 Call Boxes (Photo: Business Wire)

IN CASE YOU MISSED IT

Knightscope is poised to close sales across its entire product portfolio as 2023 begins laying a foundation for growth. The recent acquisition of CASE Emergency Systems, whose product is featured in today’s announcement, has contributed to the Company’s top line revenue growth, and is only one of many sales and Autonomous Security Robot (ASR) subscription contracts announced so far this year. For a recap of those 30+ sales/contracts and 7 client renewals, please visit our News page here.

2 MILLION HOURS

Knightscope has amassed over 2 million hours of paid field operations with its Autonomous Security Robots. This is a significant milestone if one examines what it took to get here. The passionate support of investors and a tireless team to execute on a thoughtful plan. The development of a product whose foundation consists of robotics, artificial intelligence, self-driving technology and electric mobility. The testing and quality assurance to meet safety and performance standards. And the collaboration between Knightscope and its client base to continually learn and improve the technologies over time. Read our latest blog on the subject here.

Everyone exploring security innovation or improving emergency communication systems for properties in the U.S. is encouraged to 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/20230217005119/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, Inc.