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DETROIT - Artificial Intelligence Technology Solutions, Inc. (OTCID:AITX) announced Monday that Stacy Stephens, co-founder of Knightscope, Inc. (NASDAQ:KSCP), has been appointed Senior Vice President of Sales at its subsidiary Robotic Assistance Devices Mobile, Inc. (RAD-M). Knightscope, currently valued at $55.8 million, has seen its stock decline nearly 50% over the past year, according to InvestingPro data.
Stephens will oversee sales initiatives for RAD-M’s mobile robotic solutions portfolio, which includes ROAMEO, RADDOG, and the upcoming humanoid robot HERO. The company expects to begin initial deployments of its ROAMEO Gen 4 autonomous security patrol vehicle this month. While Knightscope maintains a strong cash position relative to its debt, InvestingPro analysis reveals the company is rapidly burning through cash, with analysts not expecting profitability this year. Get access to 12 more exclusive ProTips and comprehensive financial analysis with InvestingPro.
"His experience as a co-founder of Knightscope, reputation among peers, and history of bringing new approaches to the security industry will be invaluable as we accelerate the deployment of our mobile robotics portfolio," said Steve Reinharz, CEO/CTO and founder of AITX and RAD-M.
AITX aims to redefine the security and guarding services industry through its AI-driven Solutions-as-a-Service business model. The company states its solutions can provide cost savings between 35%-80% compared to traditional manned security services.
The company reports having a prospective sales pipeline including over 35 Fortune 500 companies and has recently completed its SOC 2 Type 2 audit, which validates its operations and internal controls.
According to the press release statement, AITX’s technologies are developed in-house and designed to complement or replace human personnel in environments better suited for machines. Despite challenging market conditions, analysts maintain a bullish outlook on Knightscope, with InvestingPro data showing price targets significantly above current trading levels. Discover detailed valuation metrics and expert insights in the comprehensive Pro Research Report, available for over 1,400 US stocks.
In other recent news, Knightscope Inc. has reported securing over $1.3 million in new contracts for its autonomous security robots and emergency communication devices, indicating a notable growth in their market presence. The company achieved significant expansion in its Emergency Communication Devices segment, with 834 new device bookings across sectors such as aviation, casinos, higher education, and healthcare. Additionally, Knightscope announced $1 million in contract renewals and new sales, including agreements for its K5 autonomous security robots. Despite experiencing supply chain challenges, Knightscope reported $2.7 million in revenue for the second quarter of 2025, which fell short of H.C. Wainwright’s $3.1 million estimate. Nevertheless, H.C. Wainwright maintained its Buy rating for Knightscope with a $12.00 price target. Furthermore, Knightscope’s Board of Directors has amended its bylaws to reduce the quorum required for stockholder meetings from a majority to one-third of the voting power. These developments reflect Knightscope’s ongoing efforts to strengthen its market position and operational framework.
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