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Investing.com -- Knightscope Inc (NASDAQ:KSCP) stock rose 6.4% on Wednesday after the physical security technology developer announced it had achieved a $1 million milestone in new contracts and client renewals.
The company reported over 60 new Emergency Communication Device (ECD) sales across multiple sectors including higher education, healthcare, local governments, and homeowners’ associations. Additionally, hundreds of ECD units were renewed across various client segments, strengthening Knightscope ’s recurring revenue base.
In its autonomous security robot (ASR) business, Knightscope secured 8 new Machine-as-a-Service (MaaS) subscriptions, with seven units destined for residential multifamily communities and one for a higher education environment. The company also reported 7 ASR subscription renewals across healthcare, casinos, residential multifamily, commercial real estate, and manufacturing sectors.
This latest achievement follows similar monthly milestones for the company, which develops advanced technology-driven safety solutions for both public and private environments. The diverse client base across multiple sectors demonstrates growing market acceptance of Knightscope’s security technologies.
The company’s focus on its Machine-as-a-Service model appears to be strengthening its predictable revenue streams, as reflected in the positive market response to Wednesday’s announcement.
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