MOUNTAIN VIEW, Calif. - Knightscope, Inc. (NASDAQ:KSCP), a company specializing in robotics and artificial intelligence (AI) for public safety, has announced the deployment of an upgraded security robot at a California hospital. The hospital, which has been a client since 2016, received the fifth generation of Knightscope's K5 Autonomous Security Robot (K5v5).
The K5v5 represents an advancement in Knightscope's technology, featuring enhancements that make the robot faster to build, of higher quality, and easier to service. This upgrade is part of Knightscope's Machine-as-a-Service business model, which includes a Risk & Threat Exposure (RTX) enhancement, aiming to improve the delivery of public safety tools and increase client satisfaction through better on-site performance and reliability.
In Texas, a top commercial real estate brokerage and property management firm has renewed its contract with Knightscope for the continued use of one K1 Hemisphere and one K1 Tower to secure a large parking structure. Knightscope's experience, having accumulated millions of hours of real-world operation, informs its recommendations to clients for securing their properties.
Knightscope's portfolio of public safety technologies includes the K1 Laser, the Blue Light Emergency Communication System, and Automated Gunshot Detection Services. The company's stated long-term ambition is to make the United States the safest country in the world.
The information provided in this article is based on a press release statement from Knightscope, Inc. The company cautions that forward-looking statements within the press release are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements.
In other recent news, Knightscope, a security technology company, has seen a series of significant developments. The company has implemented a 1-for-50 reverse stock split for both its Class A and Class B Common Stock, following stockholder approval at the Annual Meeting. The amendments also include the authorization of 40 million shares of "blank check" preferred stock and the removal of provisions related to previously outstanding Super Voting Preferred Stock and Ordinary Preferred Stock.
Knightscope has expanded its contract with a California healthcare provider, adding an additional K5 Autonomous Security Robot to its fleet following the successful deployment of the first K5 ASR. During a recent earnings call, Knightscope acknowledged a Q2 gross loss but confirmed an increase in the CASE business and expressed optimism about future opportunities with federal agencies and law enforcement.
Board members William Santana Li, William G. Billings, Robert A. Mocny, and Melvin W. Torrie were re-elected at the company's annual stockholders meeting, and BPM LLP was ratified as Knightscope's independent registered public accounting firm for the fiscal year ending December 31, 2024. These are recent developments that may shape Knightscope's future operations.
InvestingPro Insights
As Knightscope, Inc. (NASDAQ:KSCP) continues to innovate in the realm of public safety with its autonomous security robots, the company's financial health and stock performance provide essential context for investors. According to InvestingPro data, Knightscope has a market capitalization of $17.15 million, reflecting its position in the market. However, the company's P/E ratio stands at -0.34, indicating that the company is not currently profitable. Moreover, the P/E ratio has further declined over the last twelve months as of Q2 2024 to -0.57, suggesting that profitability challenges persist.
With a revenue growth of 16.7% over the last twelve months as of Q2 2024, Knightscope demonstrates some capacity for increasing sales. Yet, this positive aspect is contrasted by a quarterly revenue decline of -10.1% in Q2 2024, highlighting the volatility in the company's revenue streams. Additionally, the company's gross profit margin is negative at -32.41%, as of the same period, which is a critical factor for investors to consider, as it points to challenges in controlling production or service costs relative to sales.
InvestingPro Tips highlight that Knightscope is quickly burning through cash and that the stock has experienced significant price volatility, with a notable decline over the last week. These tips underscore the importance of understanding the risks associated with Knightscope's financial stability and stock performance. Investors should note that the company's stock price is trading near its 52-week low and that analysts do not anticipate Knightscope will be profitable this year.
For those looking to gain a deeper understanding of Knightscope's financials and stock potential, InvestingPro offers additional insights, with a total of 17 InvestingPro Tips available at: InvestingPro Knightscope. These tips can provide a more comprehensive view of the company's financial health and future prospects.
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