News ReleaseRobot Dog Saves Lives in Massachusetts Standoff
MarketJar
A robotic dog named Roscoe from the Massachusetts State Police Bomb Squad is being praised for its role in averting a potential tragedy involving a person barricaded in a home. 1 On March 6, the Massachusetts State Police sent Roscoe into a home where a 30-year-old man, who had allegedly held his mother at knifepoint, was located. The suspect shot the robot three times, partially disabling it. State police noted that deploying Roscoe potentially saved the lives of officers and real dogs involved in the incident. Boston Dynamics, the company behind the Spot robot, stated that it was the first time one of their robots had been shot. The company expressed relief that the only casualty was their robot. Roscoe has been sent to Boston Dynamics for repairs, and a new unit will be provided to the state police. Robots are increasingly being used by law enforcement agencies nationwide. In New York City, Digidogs have been employed since 2023 to help de-escalate situations. Similarly, law enforcement agencies in Florida, Los Angeles, and other states have utilized these cybernetic hounds. 2 Another company deploying AI-powered robots and emergency systems to deter crime across the US is Knightscope, Inc. (NASDAQ:KSCP), a leading innovator in robotics and artificial intelligence (AI) technologies focused on public safety. Knightscope ’s autonomous security robots (ASRs) use a unique combination of self-driving technology, robotics, AI, and electric vehicles to provide humans with extra eyes, ears and a voice on the ground. Innovative Robot Company Progresses on Path to Profitable Expansion Knightscope deployed its first Autonomous Security Robots in May 2015 and has continued signing contracts since with major clients across the country. The company’s ASRs, Blue Light Tower emergency phones and Automated Gunshot Detection (AGD) technology is already being utilized in public spaces including schools, hospitals, HOAs, casinos, transportation hubs and places of worship. On April 4, Knightscope, Inc. (NASDAQ:KSCP) announced 18 new contracts and five new renewal agreements that are valued at over $1 million. The announcement comes off the back of a successful Innovation Week held by the company and its FY 2023 results, adding substantial growth in its top line revenue through new contracts. These contracts predominantly hail from rapidly expanding sectors like transportation, healthcare, education, and local government, which not only form the bulk of the current agreements but also offer numerous prospects for further expansion across both individual clients and their markets. Earlier this week, Knightscope, Inc. (NASDAQ:KSCP) reported its financial results for 2023, showcasing significant progress towards profitability and operational efficiency. Knightscope reported total revenue of $12.8 million, marking a substantial 128% increase from the previous year. This growth was driven by a $2 million increase in net revenue from services, totaling $7.2 million, and a $5.2 million increase in net revenue from product sales, totaling $5.6 million. The surge in product sales was attributed to the integration of Emergency Communication Devices (ECDs) into their product lines following the acquisition of CASE Emergency Management Systems. Total operating expenses for the year amounted to $24.3 million, a $4.4 million reduction from the previous year. This reduction was driven by lower sales and marketing costs and R&D expenses, leading to operating expenses as a percentage of revenue dropping from 509% to 190%. Looking ahead to 2024, Knightscope has outlined a growth strategy focused on organizational restructuring, service optimization, manufacturing consolidation, and facility reduction. These initiatives aim to reduce payroll expense by over 30%, align support for key technologies with service contracts, and improve manufacturing efficiency and facility utilization. Knightscope also plans to bolster its product offering further after signing an MOU with Draganfly (NASDAQ: DPRO), an award-winning industry leading drone developer. The company plans to integrate Draganfly’s drone technology with its ASR tech to create Autonomous Security Drones. For further information on Knightscope 's innovative solutions and projects, please visit Knightscope's website (NASDAQ:KSCP). Footnotes: [1] https://www.ctvnews.ca/mobile/world/robot-police-dog-shot-credited-with-averting-potential-tragedy-1.6825781?cache=sstyoxrk?clipId=89563 [2] https://www.usatoday.com/story/tech/2024/03/28/what-to-know-about-spot-the-robotic-dog/73118781007/ Disclosure: 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies outlined in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Knightscope, Inc. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by Knightscope, Inc.’s Digital Marketing Agency of Record (Native Ads Inc.). 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Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. 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These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s 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.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Knightscope, Inc.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-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.’s 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 CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. 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April 04, 2024 10:00 AM Eastern Daylight Time
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