More Sales: New Casino and Commercial Real Estate Security Robot Contracts

Rhea-AI Summary

Knightscope, Inc. announces the addition of two contracts for its K5 Autonomous Security Robot, including a commercial real estate property and a casino expansion. The company's technologies will be deployed in 43 properties nationwide, with a total of 7 robots under contract for a gaming client.

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. [Nasdaq: KSCP] (“Knightscope” or the “Company”), a leading developer of autonomous security robots and blue light emergency communication systems, today announces the addition of two contracts for its K5 Autonomous Security Robot (“ASR”), including a commercial real estate property and yet another casino expansion as part of a larger master agreement announced in September that enabled corporatewide expansion of Knightscope technologies to 43 properties nationwide. A casino in Lake Charles, Louisiana, and a corporate campus property in North Hollywood, California, will each soon have a K5 ASR patrolling their respective locations.

More Sales: New Casino and Commercial Real Estate Security Robot Contracts (Graphic: Business Wire)

Entertainment and Gaming Giant Scales Up

One of the best ways to gauge the overall health and performance of a company is by watching its existing clients – especially those that broaden the use of one’s products and services. The benefits of such expansions include shorter sales cycles and higher, more efficient close rates. Today’s announcement brings the total robots under contract for this gaming client to 7, which include deployments in Las Vegas, Nevada; Council Bluffs, Iowa; Aurora, Illinois; Shreveport, LA; Bossier City, LA; and New Orleans, LA.

Knightscope ASRs will protect and engage the millions of individuals who choose to visit these magnets for entertainment each year. The robots greet guests with a friendly voice while providing additional eyes and ears to the human security team, including a two-way communication system to enhance the safety of visitors and workers.

Commercial Developer Brings Larger Opportunity

Knightscope also closed an American commercial real estate services and investment firm that has been a national account target since 2017. The client manages a property occupied by one of the world’s largest multinational telecommunications companies, coincidentally another major account target since 2017, making this a particularly attractive “double win” for Knightscope that opens the door to future US expansions.

LEARN MORE

Knightscope’s ASR services and industry leading emergency communications products help better protect the places people live, work, study and visit. To learn more about Knightscope’s Blue Light Emergency Communication Systems or Autonomous Security Robots – now with the option of Private LTE – book a discovery call or demonstration now at www.knightscope.com/discover.

About Knightscope

Knightscope is an advanced public safety technology company that builds fully autonomous security robots and blue light emergency communications systems that help protect the places people live, work, study and visit. Knightscope’s 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. Follow Knightscope on Facebook, X (formerly 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 and other communications include, but are not limited to, statements about the Company’s profitability and growth. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231107924129/en/

Public Relations:

Stacy Stephens

Knightscope, Inc.

(650) 924-1025

Source: Knightscope, Inc.

FAQ

How many robots are under contract for the gaming client?

The gaming client currently has a total of 7 Knightscope ASRs under contract, deployed across various locations.

What are the benefits of the expansions for Knightscope?

The expansions bring shorter sales cycles, higher close rates, and the potential for future US expansions, creating larger opportunities for Knightscope.

How do Knightscope ASRs protect and engage visitors?

The robots greet guests with a friendly voice, provide additional eyes and ears to the human security team, and have a two-way communication system to enhance the safety of visitors and workers.