US Hotel Chain Signs 2 Security Robot Contracts

Rhea-AI Summary

Knightscope has signed a deal with a privately held American hospitality company to deploy its K5 Autonomous Security Robots (ASRs) and Risk & Threat Exposure (RTX) analyst services at properties in Houston and Atlanta. The client, which operates over 150 locations across 26 states, aims to enhance safety at its mid-scale hotels using these robots. The K5 ASR, driven by proprietary AI, offers 24/7 surveillance and real-time threat alerts, improving guest and staff security.

Weatherspoon Enterprises, a North Carolina security services provider, has renewed its contract for a K5 ASR for the third year, using it as a demonstration device. The CEO of Weatherspoon, an experienced law enforcement and Army veteran, integrates these robots into their comprehensive security solutions.

Positive

• Knightscope secured a new contract with a major American hospitality company.
• Deployment of K5 ASRs and RTX services will enhance safety at hotel properties in Houston and Atlanta.
• The client operates over 150 locations in 26 states, potentially offering significant business opportunities.
• K5 ASR offers 24/7 surveillance, real-time threat alerts, and interactive guest experiences.
• Weatherspoon Enterprises renewed its K5 ASR contract for a third year.
• Weatherspoon's CEO has extensive experience in law enforcement and security, boosting credibility.

Negative

• The press release does not provide financial details about the new contracts.
• Potential high operational costs associated with deploying and maintaining K5 ASRs.
• Dependence on a single client for multiple property deployments could be a risk if the client backs out.
• information on the financial impact of Weatherspoon's contract renewal.

Insights

Financial Analyst

Knightscope's renewal of the security robot contract and the new agreement with the American hotel chain indicate solid demand for their autonomous security solutions. The renewal by Weatherspoon Enterprises reflects sustained customer satisfaction and the effectiveness of Knightscope's K5 ASR in real-world applications. For investors, the key takeaway here is the business model's ability to retain clients and secure new contracts. This repeat business could suggest future stability in revenue streams, which is promising for long-term growth. While these contracts alone may not significantly affect immediate financials, they contribute positively to the company's market credibility and could attract further business.

Tech Expert

The deployment of Knightscope's K5 ASR at multiple hotel properties underscores the increasing reliance on AI and robotics in enhancing security measures. The K5’s autonomous nature, coupled with its AI-driven threat detection and preventive capabilities, provides a modern, efficient alternative to traditional security methods. The integration with RTX analyst services adds a layer of human expertise to interpret the gathered data, enabling quicker, more informed responses to potential threats. For retail investors, understanding the technological edge of Knightscope's offerings can provide insight into the company's potential market advantage and its ability to address growing security needs across various sectors.

Market Research Analyst

This development signifies a pivotal trend in the hospitality industry’s approach to security. By adopting autonomous security solutions, the American hotel chain illustrates a shift towards more technologically advanced safety measures. For investors, this trend could indicate an expanding market for Knightscope's products as more industries recognize the value of integrating robotics and AI into their operations. It also reflects a broader acceptance and trust in robotic solutions, potentially paving the way for wider adoption across other sectors. This increase in market acceptance can be a strong driver for Knightscope’s future growth and market share.

Knightscope Authorized Partner Renews Security Robot Agreement for 3^rd Year

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 that a privately held American hospitality company executed an agreement subscribing to Knightscope’s K5 Autonomous Security Robot ("ASR") and Risk & Threat Exposure (“RTX”) analyst services. These deployments will commence at properties in Houston, Texas, and Atlanta, Georgia.

US hotel chain signs 2 security robot contracts, and Knightscope Authorized Partner renews security robot agreement for 3rd year. (Photo: Business Wire)

The client operates a chain of mid-scale, limited-service hotels under five different brand names. As of 2022, the family-owned chain operates more than 150 locations in 26 states. Knightscope’s ASRs will patrol the parking areas of the designated hotels, alerting the RTX analysts to certain threats and allowing them to respond quickly when assistance is needed, thus providing a safer lodging experience for guests, staff and visitors.

The K5 ASR is driven by proprietary AI software that elevates safety measures at each property while providing visitors with a unique, interactive guest experience with hotel-specific graphics, a client-chosen voice for custom audio broadcast messaging, improved access to emergency services and plenty of opportunities for robot selfies.

The K5 is the Company’s fully autonomous (i.e., no human intervention needed to operate) robot capable of watching over a property 24/7/365. The robot’s commanding size along with its conspicuous lighting, strobe lights, broadcast messages and patrol sounds, effectively deter illicit activities, while its sensors gather evidentiary-quality video and publicly available data to aid Knightscope’s RTX analysts with investigations.

North Carolina Reseller Renews ASR Agreement for Third Year

Weatherspoon Enterprises, Inc., a North Carolina based integrated security services and solutions provider, renewed its contract for a K5 ASR for the third year. The K5 is used as a demonstration device for customers. Weatherspoon actively integrates Knightscope ASRs into its consulting and security services to expand its offering to include the most cutting-edge technologies focused on public safety.

Weatherspoon’s CEO is an award winning, 38-year law enforcement and Army veteran with a distinguished career developing and overseeing threat assessments, counterintelligence to terrorism, and responding to active shooter situations, as well as securing large-scale venues, buildings and assets. He and the Weatherspoon team are well positioned to deploy Knightscope’s ASRs in a manner that bridges the best of both worlds – the response capabilities of human guards and the automated, real-time intelligence gathering of robots – to provide a complete safety package to its customers.

Get Expert Help

To learn more about Knightscope’s Risk & Threat Exposure Analysts 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/20240617343790/en/

Public Relations:

Stacy Stephens

Knightscope, Inc.

(650) 924-1025

Source: Knightscope, Inc.

FAQ

What new contracts has Knightscope signed?

Knightscope signed contracts with a privately held American hospitality company to deploy K5 Autonomous Security Robots (ASRs) and RTX services at properties in Houston and Atlanta.

How many hotel locations does the new client operate?

The client operates over 150 hotel locations across 26 states.

What are K5 Autonomous Security Robots (ASRs) used for?

K5 ASRs provide 24/7 surveillance, real-time threat alerts, and interactive guest experiences to enhance safety at hotel properties.

Who renewed their K5 ASR contract with Knightscope?

Weatherspoon Enterprises, a North Carolina-based integrated security services provider, renewed its K5 ASR contract for the third year.

What is the role of Weatherspoon Enterprises' CEO?

The CEO of Weatherspoon Enterprises is an award-winning 38-year law enforcement and Army veteran who integrates Knightscope's ASRs into comprehensive security solutions.