Yahoo Finance Knightscope Delivers On 9 New Deployments and Signs 2 New Contracts
Technology Innovator Delivering on Continued Growth Plan
MOUNTAIN VIEW, Calif., April 23, 2024--(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 new Autonomous Security Robot ("ASR") and Blue Light Emergency Communication System sales along with 9 new deployments on the heels of the recently announced winning of 18 contracts valued over $1 million. The contracts announced today are from Illinois and Kentucky, and the new deployments are in Arizona, California, Louisiana, and Nevada.
SALES CADENCE CONTINUES
A university in the Chicago area is upgrading 5 of its emergency communication systems with Knightscope’s upgrade kit. Modern blue light emergency phones and call boxes are the key to curing an overconfident dependence on cell phones. Many people may not have (or simply may not be carrying) a cell phone, the cell phone’s battery may be down, or there may be no signal in the area. Similarly, it is possible that visitors who find themselves in need of assistance may not be familiar with the local geography and landmarks, thus being unable to give emergency responders an exact or accurate location over a cell phone. In extreme situations (e.g., a major terrorist event, campus shooting, and natural or man-made disasters such as hurricanes, tornadoes, earthquakes, floods, wildfire, hazardous materials spill, etc.) cell phone users may also experience overloaded networks from too many subscribers trying to access the system during emergent situations when emergency access is most needed. The upgrade transforms the university’s older communications equipment into the more reliable 4G/LTE devices to ensure the highest levels of service.
The Car Park, a Knightscope Authorized Partner ("KAP") in Idaho, is the reseller responsible for landing a K5 ASR contract with a Louisville, Kentucky hotel. The K5 is driven by proprietary AI software that enhances safety measures at the property while providing visitors with a unique, interactive guest experience. Knightscope’s K5 is the Company’s fully autonomous (i.e., no human intervention needed to operate) outdoor 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 investigations.
NEW DEPLOYMENTS ADD TO REVENUE RECOGNITION
Knightscope continues to chip away at its backlog of sales by delivering robots to 9 new locations, one of which remains confidential. The eight remaining locations are spread across clients in healthcare, commercial mixed-use applications, property management, multi-family residential, retail, gaming and manufacturing environments. Each deployment allows the Company to begin recognizing revenue, delivering to its bottom line and adding long-term value.
REQUEST A VIRTUAL DEMO
To learn more about Knightscope’s Autonomous Security Robots and its Blue Light Emergency Communication Systems – now available with Automated Gunshot Detection - 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 and book a discovery call or demonstration today at www.knightscope.com/discover
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.
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Contacts
Public Relations:
Stacy Stephens
Knightscope, Inc.
(650) 924-1025
