WASHINGTON, D.C. - Knightscope, Inc. (NASDAQ:KSCP), a developer of advanced robotics and artificial intelligence technologies for public safety, has announced its certification for compliance with both Buy America and the Buy American Act, aligning with the country's stringent manufacturing standards.
This certification facilitates the company's participation in federal and federally funded state and local projects, particularly in transportation, infrastructure, and national security sectors.
The company's compliance with these acts, which mandate U.S. government preference for domestic products, signifies Knightscope's commitment to upholding the highest standards of domestic manufacturing. With over 80% of state and local transportation projects relying on federal funding, this certification ensures Knightscope's clients can leverage federal funds for projects using the company's technology.
Knightscope will also be presenting at the Robotics Showcase & Demo Day on Tuesday, April 30, 2024, in Washington, D.C. The event, which requires RSVP for attendance, is a collaboration between Carnegie Mellon University, IEEE, the Computing Research Association, and the U.S. Senate Artificial Intelligence Caucus.
Knightscope aims to demonstrate to Congress members the real-world applications of its AI and robotics solutions, which are currently deployed to enhance public safety.
As part of its product offerings, Knightscope's Autonomous Security Robots (ASRs) and Blue Light Emergency Communication Systems, now available with Automated Gunshot Detection, are all manufactured in the U.S. and meet the Buy America and Buy American Act requirements. This achievement not only supports the U.S. economy but also provides clients with high-quality, American-made technologies.
For those interested in learning more about Knightscope's technologies, virtual demonstrations and discovery calls can be booked through the company's website.
This news is based on a press release statement from Knightscope, Inc.
InvestingPro Insights
Knightscope, Inc. (NASDAQ:KSCP) has recently garnered attention for its compliance with the Buy America and Buy American Act, but what does the financial data say about the company's performance? According to InvestingPro, Knightscope has experienced substantial revenue growth over the last twelve months as of Q4 2023, with an increase of 127.26%. Despite this impressive growth, the company faces challenges, as reflected in a negative gross profit margin of -15.82% for the same period, suggesting struggles in maintaining profitability in its operations.
Investors should note that Knightscope's stock price has been subject to significant volatility. The company's price has fallen significantly over the last three months, with a 24.51% decrease, and the trend extends over a longer period, with a 39.11% drop in the last six months. This level of volatility is something potential investors may wish to consider.
For those looking deeper into Knightscope's financial health, two InvestingPro Tips stand out:
1. Knightscope is quickly burning through cash, which could be a concern for its sustainability and long-term growth.
2. The company's valuation implies a poor free cash flow yield, indicating that the stock may be overvalued relative to the cash it's capable of generating.
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