For fans of Knightscope (KSCP), the long wait is finally over. Today, Knightscope made its public debut on the Nasdaq exchange after announcing listing plans last year. However, the autonomous robot security (ASR) company didn’t take the traditional initial public offering (IPO) path. Instead…
Knightscope allowed shareholders to buy pre-listing shares on its website. A total of 4 million shares were initially offered for $1o each. Knightscope ended up selling 2.23 million shares for proceeds of $22.3 million.
Knightscope operates as a physical security company that sells robots to government agencies, private businesses and commercial businesses. The company offers a product line of ASRs for a range of environments. Furthermore, Knightscope was founded in 2013 by William Li and Stacy Stephens. After witnessing the horrible events of 9/11 and the shooting at Sandy Hook Elementary School, Li and Stephens were inspired to create a business that could deter, detect, report and save lives.
Knightscope currently has 80 to 90 ASRs under contract in the U.S. The ASRs are especially beneficial to law enforcement agencies, as they can detect suspicious activities and scan license plates.
With that said, what else should investors know about the Nasdaq’s newest participant? Let’s jump right in.
Knightscope Makes Its Public Debut: 8 Things to Know
- Knightscope received its first federal order in 2020. Furthermore, the U.S. is currently Knightscope’s only active market.
- The ASR company will use the proceeds from its share offering toward the development of technology, process improvements and general corporate expenses.
- Knightscope’s current products include the K1 Stationary, K3 Indoor and K5 Outdoor robots. The company is currently working on the K7 Multi-Terrain concept robot.
- For the 6 months ended June 30, 2021, Knightscope reported $1.8 million in revenue, up 8.6% year over year. However, the company remains unprofitable.
- During 2020…
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