Leading Autonomous AI-Robot Security Company Generating Millions In Revenue

Robots Are No Longer Just for Hollywood, as Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) Takes on the Task of Protecting America

Editorial Feature | Mar 6, 2023 | Tech

What once was restricted to the world of science fiction is now a reality.

This is not a movie, as robots are finally here to protect us—and thankfully, they appear a lot more like R2D2 than Skynet and the Terminator.

Autonomous Security Robots (ASR) are quickly becoming an essential part of our future ¹ as the population continues to grow past 8 billion people and the very real problem of law enforcement and security guards becomes a reality.

Bringing us towards this robot-secured reality is Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP), a Silicon-Valley-based advanced security tech company that builds ASRs that deter, detect and report with groundbreaking technology that’s proven to help fight crime and has the potential to be the largest disruption of public safety in history.

In the USA alone, where the population is over 331 million, there are only 660,288 full-time law enforcement officers² and just over a million more security guards³—that’s roughly 200 people to every one protector. But the officers and guards need to work 24/7, so the math is even worse (i.e., you can’t triple shift a human).

The need isn’t being ignored. Since its inception in 2013, Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) has raised over $120 million, amassed 35,000+ investors by the time it listed on the NASDAQ in January 2022 and taken four advanced technologies (autonomous self-driving, robotics, artificial intelligence and electric vehicles) to develop its own proprietary tech from scratch and roll out for over 1.8 million hours of field operation to date.

Clearly, something needs to be done to protect the liberty and safety of the growing population, as the National Crime Victimization Survey confirmed that violent crime in urban areas is rising dramatically.⁴

To combat this and better equip domestic law enforcement and private businesses, Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) has developed timely solutions for the road ahead.

7 Reasons Investors Should Pay Close Attention to Knightscope, Inc. NASDAQ:KSCP NASDAQ:KSCP

Huge Market in Dire Need of Crime Prevention: Between 2019 and 2020, both the FBI and CDC reported a roughly 30% increase in the US murder rate, while the FBI also reported a decline from 61% to 54% in the “clearance rate” which is the percentage of murders solved.⁵ The public is also noticing the trend, with a record-high 56% of Americans perceiving that local crime has increased.⁶ According to the NCVS, violent crime in urban areas rose 29% from 2020 to 2021, from 19.0 to 24.5 victimizations per 1,000 persons aged 12 or older.⁷
Data-Proven Effective: As evidenced by a unanimous 5-0 vote, the City Council of Huntington Park approved the renewal of an additional 2-year term, after seeing declines in its calls for service by 10%, crime reports by 46% and citations by 68%, while arrests went up by 27%. With over 1.8 million hours of operation in the field, not only is Knightscope (NASDAQ:KSCP)(NASDAQ:KSCP) amassing big safety data (over 90 terabytes per year), but it’s also improving the AI capabilities and making the technology better every single day.
Machine-as-a-Service (MaaS) = Massive Recurring Revenue Opportunity: Clients that utilize a Knightscope’s ASR onsite get the safety of providing 24/7 patrol, for less than $9 per hour (and as low as $0.75 per hour). The MaaS model provides recurring revenue and plenty of satisfied (renewing) clients.
Autonomous Operation: This is the ONLY company operating fully autonomously 24/7/365 across an entire country without human intervention both outdoors and indoors. They’ve already amassed satisfied clients with plenty of renewals and have gained 1.8+ million hours of field experience so far, and growing…
Solid Support: Since inception, Knightscope (NASDAQ:KSCP)(NASDAQ:KSCP) has raised in excess of $120 million to build all of the technology from scratch. As of its NASDAQ public listing (27 Jan 2022), Knightscope is backed by a strong following of over 35,000 investors. It subsequently secured a $100 million committed equity facility from B Riley.⁸
Growing Tech Portfolio:Comprehensive offering with nine patents and technologies designed for various environments, including stationary, indoor, outdoor and future multi-terrain and high-speed vehicles.
Relentless, Experienced Leadership Team:Most of the management team consists of the original founding management team who’ve been with the company for nearly a decade and hold a big insider position, having only strengthened the team by adding more experts along the way⁹ plus a stellar Board of Directors.¹⁰ Knightscope’s NASDAQ:KSCP NASDAQ:KSCP team clearly believes in the product, and wants to see it through to becoming a big player.

BONUS: Knightscope’s is not only stacked with industry rockstars but adds a much-needed ESG bonus¹¹ in today’s investment market.

Dire Need for Crime Prevention Driving a HUGE Market Forward

According to a Gallup poll released in October 2022, a record-high 56% of Americans perceive that local crime has increased.¹²

On top of this, the current relationship between the public and police across the US is declining across all demographics.¹³

Not only is the public trust waning, but the danger for law enforcement officers is rising to new heights, as intentional killings of law enforcement officers recently reached a 20-year high,¹⁴ rising by nearly 60% in 2021.¹⁵

FBI Director Christopher Wray told CBS News’ 60 Minutes program that law enforcement officers were “being killed at a rate of almost one every five days.”¹⁶

Thefts and robberies in major cities increased by ~20% in the first half of 2022.¹⁷

Now, a wave of violence has also spilt across college campuses.¹⁸

The need for action became so necessary that the US House of Representatives passed a bi-partisan funding bill to help police cope with the growing issue in September.¹⁹

Something needs to change to keep the public and those tasked with protecting the public safer.

This is where innovations such as Autonomous Security Robots (ASRs) from developers as advanced as Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) are being seen as an effective solution.

Knightscope’s ASRs could potentially replace security guards²⁰, while greatly enhancing the tool sets of professionals tasked with public safety.

The Security Robots Market is estimated to currently be $31.7 billion in 2022, while being projected to reach $71.8 billion by 2027, growing at a whopping 17.8% CAGR along the way.²¹

Built to succeed in this rapidly growing market, Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) is aspiring to build toward a $30 billion company. However, it’s difficult to point to a similar story arc in this burgeoning industry.

On some levels, it looks like a defense contractor like Lockheed Martin or a Raytheon—but instead of building up technology and capabilities for soldiers, Knightscope focuses on the Department of Justice, Homeland Security, 19,000 law enforcement agencies, and 8,000 private security firms who can greatly benefit from an injection of data-proven technology.

With a unique hardware-software Machine-as-a-Service (MaaS) business model, Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) generates its recurring revenue from a growing number of satisfied clients both in the public and private sector.

In short, Knightscope is a company that doesn’t fit into a box. There are no obvious comparables to what they are doing.

Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) also has a solid long-term and short-term plan in place to solidify its spot in the market.

Short Term:

Sales Team: Recruit and train sales professionals
Verticals: Focus on commercial real estate, hospitals, hotels, residential, manufacturing, logistics, casinos, corporate campuses and transportation
Marketing: Continue using Robot Roadshow as a highly unique selling tool to place ASRs in front of prospective clients
Technology: Back-end technology improvements focused on scaling

Long Term:

FedRamp: Continue working towards targets ATO (Authority to Operate with the US Federal government
Technology: Continue to invest in new product development focused on additional capabilities and form factors
Acquisitions: Selectively explore possible target with unique technologies and/or teams
Strategic Partnerships: Explore additional opportunities with InsureTech and PropTech firms

Machine-as-a-Service (MaaS) = Ongoing Recurring Revenues

As shown above, Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) has already proven a capability to generate millions in revenue from its business model.

The nationwide average for a police officer falls mostly between $57k and $67k,²⁸ and fully-fringed is estimated to be up to $149k.²⁹

Using those metrics, budgeting for 24/7 patrol requires 4-8 humans for 1-2-up patrol, thus in many cases costing municipalities +$1M per year.

Knightscope’s (NASDAQ:KSCP)(NASDAQ:KSCP) service has annual subscriptions at an effective price of approximately $0.75 to $9 per hour with an all-inclusive service including Deployment (needs assessment, virtual demo, site assessment, site survey, shipping, logistics, setup, configuration and training); Technology (Autonomous Security Robot (ASR), Knightscope Security Operations Center (KSOC) user interface, charging systems, and data storage).

A single K5 ASR can generate ~$309,700 of revenue over a 5-year period and is either paid up front by the client or financed by a funding partner.³⁰

Total cash outflows over the period is ~($133,000) yielding a margin of $176,700 or 57% as an example.

The concept stands out, as it presents luxury automotive per-unit economics, with a Machine-as-a-Service (MaaS) business model, which is almost like the customer is buying a new Tesla every year.

On the surface, that may sound pricey to the client, but it’s potentially one of the most cost-effective ways for a user to provide security, especially since they run 24/7 (it takes four humans to do that), and be deployable both in indoor and outdoor settings.

Stacked and Growing Roster of Clients

Since the launch of its ASRs, Knightscope (NASDAQ:KSCP)(NASDAQ:KSCP) has been working tirelessly to present this new technology to potential clients across the US, and its efforts are paying off immensely.

In November 2022 alone, Knightscope secured seven new contracts and deployed dozens of machines for clients, including a leading US-based casinos and gaming facilities operator, a Fortune 1000 hospitality company, a Fortune 500 consumer foods manufacturer, and a privately held multi-family housing developer with 25 properties in Texas.³¹

Some of Knightscope’s new clients include a global manufacturer and distributor of medical and laboratory products, two hotels, a sports complex in New York, a multi-family housing complex in Pennsylvania³² and a 41-machine contract with the University of New Jersey.³³

These new clients join an already impressive roster of top-tier clients like PG&E, which just recently doubled its order due to positive ROI.³⁴

But perhaps the most important deal Knightscope (NASDAQ:KSCP)(NASDAQ:KSCP) signed in the last month is the acquisition of CASE Emergency Systems³⁵ and its flagship Blue Light Tower system – a high-visibility, solar-powered, weatherproof, wireless emergency phone designed to function in virtually every possible setting, including remote locations.³⁶

CASE also comes equipped with an impressive roster of key clients, including the New York Police Department (NYPD), New York City Fire Department (FDNY), San Bernardino County Transportation Commission (SBCTC), San Luis Obispo Council of Governments (SLOCOG), Orange County Transportation Authority (OCTA) and Ventura County Transportation Commission (VCTC).

And this is just the beginning. Knightscope’s Robot Roadshow has been so successful at generating new clients that it’s led to millions of dollars in backlog orders for ASRs across the country.³⁷

Data-Proven Effective

In order to better understand the potential for Knightscope’s (NASDAQ:KSCP)(NASDAQ:KSCP) ASR technology, one must look at the case studies of their use in the field.

A perfect example of this comes from the City of Huntington Park in Los Angeles County, California.

The launch of the program caused quite a bit of media interest, given the novelty of the technology and the general public not yet used to seeing robots rolling about their community on patrol.

The program was an undeniable success, gaining the support of both the city and its local law enforcement.

“The K5 robot is having a positive impact on crime and nuisance activity at Salt Lake Park, which is reducing the instances of police activity at the park,” – City Manager, Ricardo Reyes, and Chief of Police, Cosme Lozano, in a statement written to local lawmakers in 2020

The numbers spoke for themselves, as the city witnessed double-digit improvements in key law enforcement areas, including calls for service, arrests, crime reports, and citations.

Upon review of these improvements, Huntington Park’s City Council unanimously voted 5-0 to approve a renewal of the service with an additional 2-year term in place.³⁸

This wasn’t the only case of improvement.³⁹

The security robots have proven their weight in gold, by providing all types of incredibly useful evidence in several cases, including against Armed Robbery, Auto Theft, Burglaries, Domestic Violence, Fire, Fraud, Hit and Run, a Sexual Predator, Shooting, Stolen Bikes, a Thief, Trespassing, Vandalism, and Vehicle Break-Ins.

As well the clientele of Knightscope has also reported back operational improvements in the areas of ASR usage, including BOLO (Be On the Lookout), Feeling of Safety, Incident Reduction, and Perimeter Expansion.

Solid Support

Since its inception, Knightscope has raised more than $120 million to build all of the technology from scratch. As of the time of its NASDAQ public listing (27 Jan 2022) Knightscope is backed by a strong following of over 35,000 investors.

Among that investor base, 57% is owned by individual investors, while individual insiders account for 32% of the company’s stockholders.⁴⁰

Knightscope’s Expert Leadership Team

The same team that founded, funded, grew, and listed Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) over the last decade is leading the company today, and they plan to continue growing the company organically over the next two to three decades, while achieving their goal of making America safer. Among the talented roster, includes:

William Santana Li

Co-Founder, CEO and Chairman

At the age of 28, Bill Li was once the youngest senior executive at Ford Motor Company worldwide. Today, he’s an American entrepreneur with +30 years of experience in the global automotive industry and founding and leading a number of start-ups. At Ford, Li’s roles spanned four continents, as held multiple business and technical positions, including Director of Mergers & Acquisitions, and later internally securing $250 million in financing to found and served as COO of GreenLeaf LLC, a Ford Motor Company subsidiary that became the world’s second largest automotive recycler. After GreenLeaf, Li was recruited by SoftBank Venture Capital to establish and serve as the President and CEO of the Model E Corporation, a newly established automobile manufacturer that focused on the “Subscribe and Drive” model in California. Li also founded Carbon Motors Corporation in 2003, and as its Chairman and CEO until February 2013, focused it on developing the world’s first purpose-built law enforcement patrol vehicle.

Stacy D Stephens

Co-Founder, EVP and Chief Client Officer

Stephens previously co-founded Carbon Motors Corporation with Li, where he led marketing operations, sales, product management, partnership marketing and Client service. At Carbon Motors, he established the “Carbon Council,” a Client interface and users group consisting of over 3,000 law enforcement professionals across all 50 states and actively serving over 2,200 law enforcement agencies.

Mercedes Soria

EVP and Chief Intelligence Officer

Soria is a technology professional with +15 years of experience in systems development, life cycle management, project leadership, software architecture, and web applications development. Another Carbon Motors Corporation alumnus, Soria led IT strategy development at that company from 2011 until 2013.

Mallorie S Burak

EVP and CFO

Burak is an experienced financial executive, bringing +25 years of expertise working with a variety of financing sources, both public and private, as well as significant experience leading and managing M&A-related activities across a broad spectrum of industries ranging from early-stage start-ups to multi-national, public corporations. Over the span of her career, she’s negotiated and managed over $500 million of successful financing and M&A deals, having spent the last 13 years focused on turnarounds and special situations for both public and venture-backed companies.

RECAP: 7 Reasons To Put Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) On Your Watchlist

Huge Crime Prevention Market
Data-Proven Effective
Data-Proven Effective
Autonomous Operation
Solid Support
Growing Tech Portfolio
Persistent, Experienced Leadership Team

The autonomous security space is still in its infancy with Knightscope (NASDAQ:KSCP)(NASDAQ:KSCP) positioning itself as the first mover. The problem of crime is not going away any time soon and this story is one to pay attention to.

Do your own due diligence on this startup that has taken the idea from the movies and created a real-life R2D2 security robot. Knightscope, Inc. (NASDAQ:KSCP)(NASDAQ:KSCP) nearly a decade since its founding, and over 1.8 million hours in operation in the field, has the business model and technology to make a big impact on society.

Don’t forget to click here to subscribe for email updates and ensure you don’t miss out on any of Knightscope’s news and milestones.

¹ https://www.indoor-robotics.com/blog/why-automated-security-robots-are-the-next-big-thing/
² https://www.statista.com/statistics/191694/number-of-law-enforcement-officers-in-the-us/
³ https://www.bls.gov/oes/current/oes339032.htm
⁴ https://www.city-journal.org/violent-crime-in-cities-on-the-rise
⁵ https://www.pewresearch.org/fact-tank/2021/10/27/what-we-know-about-the-increase-in-u-s-murders-in-2020/
⁶ https://news.gallup.com/poll/404048/record-high-perceive-local-crime-increased.aspx
⁷ https://bjs.ojp.gov/content/pub/pdf/cv21.pdf?utm_content=default%26utm_medium=email%26utm_source=govdelivery
⁸ https://www.businesswire.com/news/home/20220404005967/en/
⁹ http://www.knightscope.com/management
¹⁰ http://www.knightscope.com/board
¹¹ https://corpgov.law.harvard.edu/2018/09/06/across-the-board-improvements-gender-diversity-and-esg-performance/
¹² https://news.gallup.com/poll/404048/record-high-perceive-local-crime-increased.aspx
¹³ https://www.pewresearch.org/2022/01/05/trust-in-america-do-americans-trust-the-police/
¹⁴ https://edition.cnn.com/2022/01/13/us/police-officers-line-of-duty-deaths/index.html
¹⁵ https://www.bbc.com/news/world-us-canada-61218611
¹⁶ https://www.cbsnews.com/news/fbi-director-christopher-wray-60-minutes-2022-04-24/
¹⁷ https://www.nytimes.com/2022/09/23/briefing/crime-rates-murder-robberies-us.html
¹⁸ https://www.foxnews.com/opinion/campus-crime-surge-colleges-dont-tell-parents-about
¹⁹ https://www.nytimes.com/2022/09/22/us/politics/house-passes-police-funding-bills.html
²⁰ https://www.agvnetwork.com/what-are-security-robots#:~:text=Autonomous%20Security%20Robots-,What%20are%20Autonomous%20Security%20Robots%20(ASR)%3F,%2C%20investigate%2C%20and%20detect%20intruders.
²¹ https://www.marketsandmarkets.com/Market-Reports/security-robots-market-242305735.html
²² https://www.yahoo.com/video/knightscope-third-quarter-2022-earnings-135458352.html
²³ https://www.bizjournals.com/phoenix/news/2022/11/08/axon-beats-third-quarter-expectations.html
²⁴ https://finance.yahoo.com/news/shotspotter-reports-third-quarter-2022-210500183.html
²⁵ https://finance.yahoo.com/news/leidos-holdings-inc-reports-third-100000780.html
²⁶ https://finance.yahoo.com/news/osi-systems-reports-fiscal-2023-130000842.html
²⁷ https://finance.yahoo.com/news/wrap-technologies-inc-reports-third-210500061.html
²⁸ https://www.salary.com/research/salary/alternate/police-officer-salary
²⁹ https://ward43.org/wp-content/uploads/2015/09/Cost-per-Police-Officer_vF.pdf
³⁰ Knightscope Investor Presentation, Slide 10
³¹ https://ir.knightscope.com/news-releases/news-release-details/knightscope-nasdaq-kscp-secures-5-new-contracts-accelerating
³² https://ir.knightscope.com/news-releases/news-release-details/knightscope-nasdaq-kscp-secures-5-new-contracts-accelerating
³³ https://ir.knightscope.com/news-releases/news-release-details/knightscope-nasdaq-kscp-receives-contract-41-machines-university
³⁴ https://ir.knightscope.com/news-releases/news-release-details/pge-nyse-pcg-doubles-knightscope-order-nasdaq-kscp
³⁵ https://ir.knightscope.com/news-releases/news-release-details/knightscope-completes-acquisition-case-emergency-systems
³⁶ https://www.caseemergencysystems.com/
³⁷ https://www.therobotreport.com/knightscope-continues-to-diversify-security-portfolio/
³⁸ https://vimeo.com/588137890
³⁹ https://www.reviewjournal.com/local/local-las-vegas/crime-fighting-robot-patrols-las-vegas-apartment-complex-2294116/
⁴⁰ https://finance.yahoo.com/news/knightscope-inc-nasdaq-kscp-most-161928039.html

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FORWARD LOOKING INFORMATION

This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect expectations regarding Knightscope, Inc. future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc. industry; (b) market opportunity; (c) Knightscope, Inc. business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc. milestone projections and targets; (f) Knightscope, Inc. expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc. intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc. expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc. business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc. ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc. ability to enter into contractual arrangements; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc. ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc. operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact Knightscope, Inc. business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc. business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, the Website Host undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise.

HISTORICAL INFORMATION

Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc. or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities.