MOUNTAIN VIEW, Calif. - Knightscope, Inc. (NASDAQ:KSCP), known for developing autonomous security robots and emergency communication systems, has announced the acquisition of three new contracts for its K1 Hemisphere technology. The contracts will see the deployment of the Hemisphere in commercial, residential, and healthcare properties across California, Illinois, and Minnesota.
The K1 Hemisphere is a security device designed to enhance property safety through a suite of features including high-definition video capture with three cameras offering up to 210 degrees of coverage, strobe lighting, license plate recognition, and optional facial recognition. The device also includes automated announcements and intercom capabilities, with the flexibility of being mounted on various surfaces. Two Hemispheres can be combined for a full 360-degree field of vision.
Knightscope's products, which are part of a broader suite of blue light emergency communication systems and autonomous security robots, are aimed at improving security in various environments where people live and work.
The announcement is based on a press release statement.
InvestingPro Insights
In light of Knightscope's recent contract acquisitions for its K1 Hemisphere technology, investors may be keen to understand the financial health and market performance of the company. According to InvestingPro data, Knightscope, Inc. (NASDAQ:KSCP) has a market capitalization of $44.32 million USD. Despite impressive revenue growth of 194.02% over the last twelve months as of Q3 2023, the company's gross profit margin stands at -10.99%, indicating challenges in profitability.
Furthermore, the stock price has experienced significant volatility, with a 60.38% decline in the one-year price total return as of day 45 of the current year. This volatility is reflected in the InvestingPro Tips, which highlight that Knightscope's stock price movements are quite volatile and that the price has fallen significantly over the last year. The company also does not pay a dividend to shareholders, which may be a consideration for income-focused investors.
These insights suggest that while Knightscope's technology is gaining traction with new contracts, the financial metrics indicate some areas of concern. Investors interested in a deeper analysis can find additional InvestingPro Tips on the company by visiting InvestingPro, with a total of 15 tips available. For those considering a subscription, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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