Oakland, CA Property Renews Knightscope (Nasdaq: KSCP) Contract for 4th Year

Rhea-AI Summary

Knightscope, Inc (NASDAQ: KSCP) has secured a contract renewal for its K5 Autonomous Security Robot with a client in Oakland, California for the fourth consecutive year. Initially deployed in 2019 due to persistent vehicle break-ins, the ASR has significantly reduced such incidents, leading to the client's satisfaction with its service. This renewal aligns with Knightscope's mission to enhance U.S. security. The company's advanced security technologies continue to demonstrate effectiveness in improving community safety.

Positive

• Contract renewal for the K5 Autonomous Security Robot with a client in Oakland for the fourth year.
• Significant reduction in vehicle break-ins and theft reported by the client after deploying the ASR.
• Client satisfaction reaffirmed during the recent quarterly business review.

Negative

• None.

Public Safety Innovator Proven Effective for Multiple Years

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. [Nasdaq: KSCP], a developer of advanced physical security technologies focused on enhancing U.S. security operations, today announced that a client in Oakland, California, signed up for its fourth year utilizing Knightscope’s K5 Autonomous Security Robot (ASR). This client originally deployed in 2019 as a result of consistent vehicle break-ins and was one of the first to collaborate with its local police department to share information in an effort to positively impact the community. During their most recent quarterly business review, the client stated that they were extremely satisfied with the service and are no longer experiencing vehicle break-ins at night. They went on to say that there has also been a reduction in theft since deploying their ASR. Knightscope’s mission is to make the United States the safest country on the planet, and another renewing client puts it one step closer to achieving that mission.

Oakland, CA Property Renews Knightscope (Nasdaq: KSCP) Contract for 4th Year (Photo: Business Wire)

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 us 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. 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. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in our 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/20220804005701/en/

Donna Loughlin Michaels, LMGPR, (408) 393-5575

Source: Knightscope, Inc.

FAQ

What recent contract renewal was announced by Knightscope (NASDAQ: KSCP)?

Knightscope announced a contract renewal for its K5 Autonomous Security Robot with a client in Oakland, California, for the fourth consecutive year.

What improvements were reported by Knightscope's client in Oakland after deploying the K5 robot?

The client reported a significant reduction in vehicle break-ins and theft since deploying Knightscope's K5 Autonomous Security Robot.

When was the K5 Autonomous Security Robot first deployed in Oakland?

The K5 Autonomous Security Robot was first deployed in Oakland in 2019.

What is Knightscope's mission as stated in the press release?

Knightscope's mission is to make the United States the safest country on the planet.