Knightscope Secures Contract from Texas Semiconductor Company
K5 Autonomous Security Robots to Help Protect a Vital Industry
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–$KSCP #SecurityRobot—Knightscope, Inc. [Nasdaq: KSCP] (“Knightscope” or the “Company”), a leading developer of autonomous security robots and blue light emergency communication systems, today announced a new contract for 3 K5 Autonomous Security Robots (ASRs) from a semiconductor company in Texas.
According to McKinsey & Company, the semiconductor market reached $600 billion in sales in 2021 and is expected to reach $1 trillion within this decade. Semiconductors are the heart of contemporary electronics, enabling technologies that are essential to U.S. economic growth, national security, and international competitiveness to flourish.
Numerous additional applications, including those in communications, computers, healthcare, military systems, transportation, and clean energy, advance on a near daily basis thanks to semiconductors. By providing the most advanced tools to support the safety and security of these facilities, Knightscope is fostering the development of other cutting-edge technologies like brain-inspired computing, virtual reality, energy-efficient sensing, automated devices, robots, and artificial intelligence that have the potential to positively impact society in a similar fashion.
Knightscope is an advanced public safety technology company that builds fully autonomous security robots and blue light emergency communications systems that help protect the places people live, work, study and visit. Knightscope’s long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com. Follow Knightscope on Facebook, Twitter, LinkedIn and Instagram.
This press release may contain “forward-looking statements” about Knightscope’s future expectations, plans, outlook, projections and prospects. Such forward-looking statements can be identified by the use of words such as “should,” “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” “proposes” and similar expressions. Forward-looking statements contained in this press release include, but are not limited to, statements about the Company’s path to profitability, the Company’s targeted annualized revenue run rate, the Company’s plans for top-line growth, the Company’s ability to deliver on its backlog of new orders, the benefits of the Company’s planned streamlining of its operations and rightsizing of its combined workforce and the Company’s ability to achieve improved margins. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. These risks and uncertainties include, among other things, the risk that the restructuring costs and charges may be greater than anticipated; the risk that the Company’s restructuring efforts may adversely affect the Company’s internal programs and the Company’s ability to recruit and retain skilled and motivated personnel, and may be distracting to employees and management; the risk that the Company’s restructuring efforts may negatively impact the Company’s business operations and reputation with or ability to serve customers; the risk that the Company’s restructuring efforts may not generate their intended benefits to the extent or as quickly as anticipated. Readers are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Knightscope’s Annual Report on Form 10-K for the year ended December 31, 2022. Forward-looking statements speak only as of the date of the document in which they are contained, and Knightscope does not undertake any duty to update any forward-looking statements, except as may be required by law.
Los Angeles, California