MOUNTAIN VIEW, Calif. - Knightscope, Inc. (NASDAQ:KSCP), a company specializing in robotics and artificial intelligence for public safety, has announced the sale of new Autonomous Security Robots (ASRs) and Blue Light Emergency Communication Systems, as well as the deployment of these technologies in several states. The recent sales are part of an ongoing growth plan that includes 18 contracts valued over $1 million.
A Chicago area university is updating five emergency communication systems using Knightscope’s upgrade kits. These modernizations aim to address the limitations of cell phone reliance in emergencies by transitioning to more reliable 4G/LTE devices.
In a separate deal facilitated by The Car Park, a Knightscope Authorized Partner in Idaho, a Louisville, Kentucky hotel has contracted for the K5 ASR. The K5 is an autonomous outdoor robot designed to enhance safety and provide an interactive experience for guests.
Knightscope has also deployed robots to nine new locations, with one remaining confidential. The deployments span across various sectors including healthcare, commercial, property management, residential, retail, gaming, and manufacturing. These deployments allow the company to begin recognizing revenue and contribute to its financial growth.
The company's ASRs and Blue Light Emergency Communication Systems, now with Automated Gunshot Detection, are available for virtual demonstrations. Knightscope's stated long-term ambition is to make the United States the safest country in the world.
This news is based on a press release statement from Knightscope, Inc. It should be noted that the press release contains forward-looking statements which involve risks and uncertainties. Actual results could differ from those projected in any forward-looking statements due to various factors.
Knightscope does not commit to updating any forward-looking statements as they represent the company's expectations only as of the date they are made.
InvestingPro Insights
Amidst the recent announcement of Knightscope, Inc. (NASDAQ:KSCP) expanding its reach with new sales and deployments, InvestingPro data and insights offer a deeper look into the company's financial health and market performance.
Despite the positive news on growth, the company's stock has experienced significant volatility, with a -12.37% price total return over the past week and a -24.28% return over the last three months. This underscores the challenges Knightscope faces in the market, which is also reflected in its current market capitalization of 44.34M USD.
The company's financial metrics reveal a difficult landscape, with a negative P/E ratio of -1.80 and a gross profit margin of -15.82% as of the last twelve months ending Q4 2023. These figures suggest that Knightscope is currently not profitable, and the negative gross profit margin indicates the company is selling its products at a cost higher than the revenue they generate.
This is further supported by two InvestingPro Tips highlighting that analysts do not anticipate the company will be profitable this year and that the company is quickly burning through cash.
For investors interested in a comprehensive analysis, there are over 15 additional InvestingPro Tips available, which can provide more nuanced insights into Knightscope's performance and projections. To explore these tips and make more informed investment decisions, visit InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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