MOUNTAIN VIEW, Calif.–December 20, 2024– [NASDAQ:KSCP] (“Knightscope” or the “Company”), a leader in robotics and artificial intelligence (“AI”) for public safety, reports the successful completion of its new K7 Autonomous Security Robot (“ASR”) alpha prototype and summarizes its recent Town Hall meeting, highlighting significant 2024 achievements. These advancements aim to propel the company’s growth and innovation in the next two years.

K7 ALPHA PROTOTYPE

Knightscope successfully built the K7 Alpha Prototype, currently undergoing testing. This precedes the 2025 Beta prototype and planned pre-orders. The four-wheeled K7 ASR is designed for larger areas, offering a larger profile than the K5, enhanced features, and faster autonomous patrol speeds across various terrains. Its increased range, speed, and remote monitoring capabilities represent a step toward transforming public safety.

“Our long-term growth strategy hinges on technological innovation. The K7 ASR is a game-changer – a major revenue driver, featuring next-generation technology and a new manufacturing process,” said William Santana Li, chairman and CEO, Knightscope. “We’re building on over a decade of autonomous experience to create a new market category,” Li added.

2024 YEAR END RECAP

Knightscope’s leadership characterized 2024 as a turnaround year, marked by significant changes in corporate structure, technology, and operations, laying a strong foundation for future growth.

Corporate changes included a new Board of Directors, a new CFO, a new accounting team, and a reduction of over one-third of the management team. The company eliminated toxic warrants, converted preferred stock to common stock, successfully completed a reverse stock split to maintain Nasdaq compliance, and secured additional capital through a Reg A+ Public Infrastructure Bond Offering, At-the-Market facility, and a Confidentially Marketed Public Offering (CMPO). This resulted in the second-highest year-end cash balance since the company’s 2013 founding.

Technology improvements focused on enhanced robot quality. The K5v3 was retired, replaced by the improved, more cost-effective K5v5. The K5 GOV was successfully deployed with the U.S. Federal Government, a key differentiator and potential revenue driver. Development of the cross-platform Intelligence Control Module (ICM), a common platform for future robots and devices, began. K7 Alpha Prototype testing is underway and is anticipated to significantly benefit clients with large properties.

Operational improvements included a new sales team, outsourced field service and maintenance, and ongoing facility consolidation. Improved manufacturing and quality assurance processes were implemented, alongside the creation of a new Risk & Threat Exposure (RTX) department to enhance client experience, retention, and serve as a competitive advantage. Furthermore, the company cleared a significant backlog of orders and announced a partnership with Verizon Frontline.

“This year’s focus was on business improvement, prioritizing long-term value over short-term gains,” said Apoorv S Dwivedi, EVP and chief financial officer, Knightscope. “These changes may cause some short-term volatility but will ultimately create a brighter future for Knightscope’s clients, shareholders, and team,” Dwivedi concluded.

GET EXPERT HELP

To learn more about Knightscope’s public safety technologies, including Autonomous Security Robots, Blue Light Emergency Communication Systems, or Automated Gunshot Detection Services, schedule a consultation or demonstration today at .

About Knightscope

Knightscope develops cutting-edge technologies to enhance public safety, aiming to make the United States the safest country globally. Learn more at .

Forward-Looking Statements

This release includes “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Such statements, often including words like “should,” “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes,” relate to goals, profitability, growth, prospects, expense reduction, and outlook. While Knightscope believes these statements are based on reasonable assumptions, several risks and factors could cause actual results to differ materially. These are detailed in Knightscope’s Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent SEC filings. Forward-looking statements are current only as of their date, and Knightscope disclaims any obligation to update them, except as legally required.