A decade ago, mainstream AI was still a fantasy and so was autonomy, but one forward-thinking company dared to combine technology across multi-billion dollar markets – robotics, AI, electric vehicles, telecommunications, and autonomous tech. That company, Knightscope, listed on the NASDAQ with the ticker symbol, created Autonomous Security Robots or ASRs. These robots are now tirelessly working to safeguard U.S. citizens from coast to coast.
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00:00 A decade ago, mainstream AI was still a fantasy and so was autonomy.
00:05 But one forward-thinking company dared to combine technology across multi-billion dollar
00:10 markets.
00:11 Robotics, AI, electric vehicles, telecommunications, and autonomous tech.
00:15 That company, Nightscope, listed on the Nasdaq with the ticker symbol KSCP, created Autonomous
00:20 Security Robots, or ASRs.
00:23 These robots are now tirelessly working to safeguard U.S. citizens from coast to coast.
00:28 Nightscope's robots are more than machines, they're designed to deter, detect, and report
00:31 potential security threats, providing invaluable situational awareness to security and public
00:36 safety professionals.
00:38 This approach offers a compelling alternative to traditional policing methods.
00:41 ASRs not only decrease crime rates, but critically, also minimize human error associated with
00:46 law enforcement.
00:47 AI and robotics play a crucial role in this innovative approach, contributing to the creation
00:52 of safer public spaces by mitigating the potential errors that can arise from human police officers.
00:57 With over a decade of expertise, Nightscope seems to have demonstrated the effectiveness
01:01 of its solutions, notably in Huntington Park, Los Angeles County, where the deployment of
01:06 ASRs led to a remarkable 46% reduction in overall crime reports.
01:11 This success is underscored by the recent renewal of the contract for the fifth consecutive
01:15 year.
01:16 Nightscope's achievements have garnered widespread recognition, with the company securing corporate
01:20 contracts with major entities like Penn Entertainment, positioning the company as a leader in the
01:24 field.
01:25 This continued success in the field has led to success for the company's bottom line.
01:30 Nightscope witnessed a surge in net revenue for nine months ending on September 30, 2023,
01:34 reaching roughly $9.8 million.
01:37 This was nearly triple the $3.3 million reported in the same period last year.
01:42 With an annual revenue run right now of $13 million, more than double the previous year's
01:46 net revenue of $5.6 million, Nightscope has demonstrated consistent double-digit growth.
01:51 Despite a slight increase in the backlog for autonomous security robots, the overall backlog
01:56 during the nine-month period decreased.
01:58 Nightscope is committed to improving production processes and cost reductions, resulting in
02:02 enhanced gross margins.
02:04 The gross loss, which stood at $2.1 million for the first nine months of 2022, drastically
02:09 reduced to $154,000 during the same period in 2023.
02:14 On a per-share basis, Nightscope's performance improved, with the loss per common share decreasing
02:19 from 40 cents to 26 cents.
02:21 As of September 30, 2023, the company held cash and cash equivalents of $4.6 million.
02:28 Looking ahead, Nightscope continues to execute its plan for profitability targeting 2024,
02:33 focusing on scaling up operations and achieving sustained improvements.
02:36 In a strategic move, Nightscope recently launched its Public Safety Infrastructure Bond offering,
02:41 providing investors with an opportunity to contribute to the company's mission.
02:45 As mentioned earlier, Nightscope's success has not gone unnoticed.
02:49 The company has secured major contracts with Penn Entertainment, PG&E, ABM, Lowe's, and
02:54 a groundbreaking collaboration with the NYPD and MTA in New York City.
02:59 Known for their effectiveness and respect for privacy, Nightscope's K5 robots seem
03:03 to be making waves in corporate and public partnerships.
03:07 Beyond their groundbreaking technology, Nightscope offers an educational series exploring the
03:11 increasing role robots play in today's economy.
03:14 Discover more about the rise of the robots and Nightscope's mission to make the United
03:18 States the safest country in the world by visiting www.nightscope.com/rise.
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