Knightscope secures over $1.3 million in new security contracts

SUNNYVALE, Calif. - Knightscope, Inc. (NASDAQ:KSCP), a security technology company currently valued at $51.8 million, has secured more than $1.3 million in new contracts for its autonomous security robots and emergency communication devices, the company announced Wednesday. According to InvestingPro data, while the company maintains a healthy cash position exceeding its debt, it faces significant cash burn challenges.

The security technology firm reported significant growth across multiple sectors, with 834 new Emergency Communication Devices (ECDs) bookings in aviation, casinos, higher education, parks, healthcare, and local government. This expansion comes as the company works to improve its revenue growth, which showed a 5.64% decline in the last twelve months.

Knightscope also noted increased demand for its Autonomous Security Robot (ASR) technology, with several new K5 agreements in commercial real estate, smart infrastructure, and casino sectors.

Public sector clients, including cities, states, and law enforcement agencies, have expanded their ECD purchases and extended Full-Service Maintenance agreements, according to the company statement. Both public and private higher education institutions have committed to new installations and maintenance renewals for their ECD fleets.

The company also reported multiple ASR subscription renewals across commercial real estate and gaming sectors, which it described as evidence of customer loyalty.

Knightscope, which develops robotics and AI technologies for public safety applications, made the announcement in a press release that included forward-looking statements about the company’s goals and outlook. InvestingPro analysis suggests the stock is currently undervalued, with 14 additional ProTips and a comprehensive research report available for subscribers seeking deeper insights into the company’s financial health and growth prospects.

In other recent news, Knightscope, Inc. has secured over $1 million in new contracts for its autonomous security robots and emergency communication devices. The company reported the booking of 541 new Emergency Communication Devices across various sectors, including higher education and local government, along with new contracts for its K5 Autonomous Security Robots. Additionally, Knightscope has filed a prospectus supplement for a potential $50 million stock offering under an existing agreement with H.C. Wainwright & Co., LLC. This filing is part of a Registration Statement declared effective by the SEC. In another development, Knightscope has joined Palantir Technologies’ FedStart program to enhance its federal market reach, providing an accelerated pathway to secure federal settings. The agreement with Palantir offers onboarding services and direct Authority to Operate support. Furthermore, Knightscope has amended its bylaws to lower the quorum required for stockholder meetings from a majority to one-third of the voting power.

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