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Knightscope began trading on the Nasdaq today under the ticker symbol “KSCP.” During its initial public offering (IPO), the company sold over two million shares, bringing in over $22 million.
The Mountain View, California-based company announced its offering in December 2021, when it began selling up to four million shares of Class A common stock for $10 per share.
“We’ve brought on thousands and thousands of new investors in Knightscope as we embark on the 2nd chapter of a very long book in helping to make the United States of America the safest country in the world,” William Santana Li, chairman and CEO of Knightscope, said. “I am forever grateful for our relentless team and the 28,000+ investors that helped write the 1st chapter in our journey – a heartfelt and sincere thank you.”
Knightscope first announced its plans to go public at its shareholders meeting in September 2021. There, the company also announced it would be prioritizing its 28,000-plus investors first, allowing them to purchase stock before the rest of the public.
The company planned to use the proceeds from the IPO to continue scaling its fleet of security robots and to invest in new technologies.
Knightscope’s line of security robots includes the K1, a stationary robot for monitoring smaller areas, K3, an indoor mobile security robot, K5, the company’s flagship outdoor security robot, and K7, a multi-terrain security robot. The company operates under a robots-as-a-service (RaaS) model.
The company is starting off 2022 with a host of new contracts from a variety of customers. In the last month, the company has announced contracts with a school district in Colorado, an impact developer in Washington, D.C., a privately held company with 25 properties in Texas, a private school in Florida, a southern California casino, a parks and recreation organization in California and a clothing retailer in California.
According to an SEC filing, Knightscope’s revenue for the first six months 2021 increased by $141,000 (9%) to $1.8 million.