Here are 1-3 brief analogies for Knightscope (KSCP):

• Like G4S or Securitas, but for autonomous security robots.
• An ADT for mobile, robotic security.
• The 'Tesla' of on-site security robots.

• Autonomous Security Robots (ASRs): Physical robots designed for patrolling, monitoring, and deterring crime in various environments.
• Robot as a Service (RaaS): A subscription model that provides customers with access to Knightscope's ASRs, including software, maintenance, and support.
• Knightscope Security Operations Center (KSOC): A proprietary software platform for managing, monitoring, and receiving real-time alerts and data from the deployed ASR fleet.

Knightscope (symbol: KSCP) primarily sells its autonomous security robots (ASRs) and related AI-driven security solutions to other companies and organizations, operating under a business-to-business (B2B) model.

The company typically does not disclose specific major customer names in its public filings, as its revenue base is diversified across various sectors. Instead, Knightscope serves a wide range of industries and organizations.

Based on Knightscope's public statements and deployments, its customer base can be broadly categorized into the following three groups:

• Corporate & Commercial Enterprises: This broad category includes customers such as owners and managers of commercial real estate (e.g., office buildings, business parks), corporate campuses, manufacturing facilities, industrial sites, and logistics centers. These enterprises deploy Knightscope robots for perimeter security, internal monitoring, and crime deterrence in their private business environments.
• Public Sector & Critical Infrastructure: This category encompasses various government entities, including law enforcement agencies (e.g., city police departments), public safety organizations, and operators of critical infrastructure (e.g., utility companies, data centers, public transit authorities). Robots are utilized to augment human patrols, provide real-time surveillance in public spaces, and enhance security for vital assets.
• Specialized Venues & Institutions: This group includes sectors with unique security requirements, such as healthcare facilities (e.g., hospitals, medical centers), gaming establishments (e.g., casinos, resorts), and educational institutions (e.g., schools, university campuses). These customers leverage Knightscope's technology to maintain safe environments, deter undesirable activities, and provide a visible security presence tailored to their specific operational needs.

William Santana Li
Chairman and Chief Executive Officer

William Santana Li has served as Knightscope's Chairman and Chief Executive Officer since April 2013. He is an American entrepreneur with over 30 years of experience in the global automotive sector and in founding and leading numerous startups. From 1990 to 1999, Mr. Li held multiple business and technical positions at Ford Motor Company across four continents. His roles at Ford included component, systems, and vehicle engineering, as well as business and product strategy, and the financial turnaround of Ford of Europe. He also founded and served as COO of GreenLeaf LLC, a Ford Motor Company subsidiary that became the world's second-largest automotive recycler, which grew to over 600 employees and $150 million in annual sales. After GreenLeaf, Mr. Li was recruited by SoftBank Venture Capital to establish and lead Model E Corporation as its President and CEO, an automobile manufacturer focused on a "Subscribe and Drive" model. He also founded Carbon Motors Corporation in 2003, serving as its Chairman and CEO until February 2013, where he focused on developing the world's first purpose-built law enforcement patrol vehicle.

Apoorv S. Dwivedi
Executive Vice President and Chief Financial Officer

Apoorv S. Dwivedi was appointed Executive Vice President and Chief Financial Officer of Knightscope, effective January 2024. He brings extensive finance and corporate strategy experience to this role. Most recently, Mr. Dwivedi served as the Chief Financial Officer of Nxu, Inc., where he helped take the company public on NASDAQ in 2022 and managed its capital markets, investor relations, finance operations, and corporate growth strategies. Prior to Nxu, he was the Director of Finance for Cox Automotive from 2019 to 2022, overseeing the Manheim Logistics business. From 2018 to 2019, he was the Director of Presales at the SaaS company Workiva, and from 2010 to 2017, he held various corporate finance roles at General Electric Company across both GE Capital and GE Industrial businesses. Mr. Dwivedi began his career at ABN-AMRO, N.A., and was instrumental in building one of the first data analytics teams at Sears Holdings Company.

Mercedes Soria
Executive Vice President and Chief Intelligence Officer

Mercedes Soria is Knightscope's Chief Intelligence Officer and has been with the company since April 2013. She is a technology professional with over 15 years of experience in systems development, life cycle management, project leadership, software architecture, and web applications development. Ms. Soria previously led IT strategy development at Carbon Motors Corporation from 2011 to 2013. From 2002 to 2010, she served as Channel Manager and Software Development Manager for internal operations at Deloitte & Touche LLP.

Aaron J. Lehnhardt
Executive Vice President and Chief Design Officer

Aaron J. Lehnhardt has served as Knightscope's Chief Design Officer since November 2015. From the company's inception in April 2013 until November 2015, he was the Chief Designer. Prior to joining Knightscope, from 2002 to April 2013, Mr. Lehnhardt was the co-owner of Lehnhardt Creative LLC, where he focused on advanced propulsion vehicle design, personal electronics, product design, video game design, and concept development.

Stacy D. Stephens
Executive Vice President and Chief Client Officer

Stacy D. Stephens co-founded Knightscope in 2013. He previously served as a police officer in Dallas, Texas.

One clear emerging threat to Knightscope (KSCP) is the advancement and increasing adoption of autonomous security drones. These unmanned aerial vehicles offer an alternative solution for automated patrolling, surveillance, and rapid response, competing directly with ground-based autonomous security robots in various applications. Drones can cover large areas more quickly, navigate complex terrain from an aerial perspective, and offer potentially lower deployment costs in certain scenarios. As drone technology continues to mature, including improved battery life, payload capacity, and autonomous navigation capabilities, they represent a growing competitive force that could diminish the market opportunity for ground-based security robots.

Knightscope, Inc. (KSCP) operates primarily in the autonomous security robot (ASR) market. Their main products include various models of autonomous security robots (K1, K3, K5, K7) designed for indoor, outdoor, and all-terrain use, along with associated monitoring services and software (Knightscope Security Operations Center - KSOC) and emergency communication devices. Knightscope employs a "Robots-as-a-Service" (RaaS) or "Machine-as-a-Service" business model, offering these solutions on a subscription basis.

The addressable markets for Knightscope's main products and services are as follows:

• Global Autonomous Security Robot Market: The global security robot market size was valued at USD 31.7 billion in 2022 and is projected to reach USD 71.8 billion by 2027, growing at a Compound Annual Growth Rate (CAGR) of 17.8% from 2022 to 2027. Another estimate indicates the global security robots market size was USD 19.07 billion in 2024 and is anticipated to reach approximately USD 76.67 billion by 2034, with a CAGR of 14.93% from 2025 to 2034. A more specific report on autonomous security robots indicates the market size reached USD 2.8 billion in 2024 and is projected to reach USD 9.2 billion by 2033, with a CAGR of 16.3% from 2025 to 2033. For autonomous patrolling robots, the global market is forecast to expand from $0.9 billion in 2025 to $3.1 billion by 2035, reflecting a CAGR of 13%.
• North American Security Robot Market: North America is a significant region in the security robots market, holding the largest market share of 39% in 2024. The U.S. security robots market size was estimated at USD 5.43 billion in 2024 and is projected to be worth around USD 22.29 billion by 2034, growing at a CAGR of 15.17% from 2025 to 2034.
• Global Security as a Service (SaaS) Market: The global Security as a Service market size was valued at USD 12.4 billion in 2021 and is projected to reach USD 23.8 billion by 2026, with a CAGR of 13.8% from 2021 to 2026. Another report states the global security as a service market reached USD 18.8 billion in 2024 and is expected to reach USD 54.4 billion by 2033, exhibiting a CAGR of 12.6% during 2025-2033. A separate estimate projects the global Security as a Service Market to hold a market value of USD 162.5 billion in 2024 and reach USD 1,016.6 billion by 2033, with a CAGR of 22.6%.
• North American Security as a Service (SaaS) Market: North America is expected to account for the largest market size in the security as a service market during the forecast period. In 2024, North America is projected to command the global security as a service market with 40.5% of the market share.

1. Expansion of Autonomous Security Robot (ASR) and Emergency Communication Device (ECD) Deployments and Subscriptions: Knightscope anticipates revenue growth through the increased deployment of its Autonomous Security Robots (ASRs) and Emergency Communication Devices (ECDs). This is evidenced by the 29% revenue increase in Q1 2025, driven by gains in both service and product revenue, including ASR subscriptions and full-service maintenance agreements for ECD clients. The company consistently secures new contracts and renewals for its ASRs and ECDs across various sectors.
2. Introduction of New Products and Enhanced Services: Future revenue is expected to be driven by the innovation and launch of new product offerings. Knightscope is focusing on developing new technologies such as the K7 ASR and K1 SuperTower. Additionally, the company is investing in the next-generation K5 v5 platform and has introduced new service offerings, including a Risk & Threat Exposure (RTX) analyst team to provide remote monitoring services, enhancing the value proposition for clients.
3. Increased Market Penetration and Customer Acquisition across Diverse Sectors: Knightscope is actively expanding its market presence by securing new client agreements and deepening penetration within critical infrastructure markets. Recent contract wins span sectors such as healthcare, aviation, higher education, government, automotive groups, retail centers, and hospitality properties, indicating a broad adoption strategy.
4. Growth in Recurring Revenue Streams: The company's "machine as a service" business model, which generates recurring revenue, is a key driver. This is supported by consistent renewals of ASR subscriptions and full-service maintenance (FSM) agreements for ECD clients, contributing to predictable and sustained revenue growth.

Share Issuance

• Knightscope listed on the Nasdaq Stock Market in January 2022.
• From January 1, 2025, through March 31, 2025, Knightscope issued 1,247,836 shares of Class A Common Stock through an at-the-market (ATM) offering program, resulting in net proceeds of approximately $7.4 million.
• In March 2025, the company announced a registered direct offering of 625,000 shares of common stock at $2.75 per share, with expected gross proceeds of approximately $1.7 million. Additionally, in the first quarter of 2025, Knightscope raised $1.4 million from a registered direct offering.
• In 2024, Knightscope raised $34.5 million in net proceeds through various financing activities, including an at-the-market offering and a public offering. This included a $12.1 million public offering of 1,210,000 shares of Class A common stock (or pre-funded warrants) priced in November 2024. All pre-funded warrants were fully exercised as of February 11, 2025.

Inbound Investments

• Knightscope qualified an Offering Circular with the SEC in October 2023 for up to $10 million in Public Safety Infrastructure Bonds, through which the company raised more than $4 million.

Outbound Investments

• Knightscope reported "N/A" for net change in long-term investments from 2021 to 2025, indicating no significant outbound investments in other companies.

Capital Expenditures

• Knightscope has made strategic investments in new product development, including the K7 Multi-Terrain Autonomous Security Robot (ASR) and the K1 Super Tower, both targeting 2026 commercial availability. The company also invests in AI analytics and next-generation products.
• In 2024, research and development costs increased due to investments in new product development and cybersecurity.
• In April 2025, Knightscope secured a new 33,355 square-foot facility in Sunnyvale, California, which will serve as its new headquarters and a hub for engineering, manufacturing, and client support, representing an investment in operational infrastructure.