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Knightscope Releases First Quarter Town Hall Update Transcript and Video
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Knightscope, Inc. (Nasdaq: KSCP), a leading developer of autonomous security robots and blue light emergency
About this update from Knightscope, Inc.
[{"type":"text","content":" MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nKnightscope, Inc. (Nasdaq: KSCP), a leading developer of autonomous security robots and blue light emergency communication systems, today released the transcript and video of the First Quarter Town Hall Update that occurred at 1pm Pacific Time on 15 May 2023.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230516005518/en/Knightscope Releases First Quarter Town Hall Update Transcript and Video (Graphic: Business Wire)\nTRANSCRIPT\n\n\nWilliam Santana Li: In the spirit of continuing to engage our original investor base, welcome our new investors from the public markets, and improve our communication with our friends on Wall Street, we are going to devote part of this Town Hall to reviewing some financial highlights from our recently filed quarterly report on Form 10-Q for the first quarter 2023, as well as share some current events that may be of interest to our stockholders and potential investors.\n\n\nThis Town Hall format is intended to provide an informal forum for our audience to ask questions – from Wall Street to Main Street, from Silicon Valley to Washington D.C. If we are going to achieve our long-term mission of making the U.S. the safest country in the world, we are going to need the entire country engaged, and today is part of it.\n\n\nOf course, any and all figures presented today in this presentation should be read in full context of the Company’s recent regulatory filings and risk factors available at ir.knightscope.com.\n\n\nNow to the numbers.\n\n\nLast year in 2022, we recorded $5.6M in aggregate revenue (from both service and product) for the year, reflecting an over 60% growth rate from the prior year. Additionally, at the end of 2022 we built up a backlog of approximately $3.9M in new orders, and by March 19, 2023, as reported in the 2022 10-K, that number had increased to $5.2M, which is almost the same amount of the revenue for the entirety of 2022. The significant top line and backlog increases are attributed to our acquisition of CASE Emergency Systems during the fourth quarter of 2022.\n\n\nWith respect to the 1st quarter 2023, there are 3 key points:\n\n\nFirst, I am pleased to report that for the 1st quarter of 2023, we recorded approximately $2.9M in revenue over the first 3 months of the year, ...