Knightscope, Inc. (NASDAQ: KSCP) stock is witnessing a significant surge on the charts, with pre-market trading on Monday seeing a rise of 20.18% to $17.03. This growth marks a five-day rise of over 25%, driven by the announcement of multiple contract renewals last week.
Key Contract Renewals Across Sectors
Knightscope reported that seven customers have extended their contracts for its Emergency Communication Device (ECD) and Autonomous Security Robot (ASR) services. Two of these, commercial real estate companies in Oregon and California, have extended their ASR contracts into their third and second years, respectively.
Additionally, a casino in Iowa renewed its ASR agreement for the third consecutive year, while a Texas hospital extended its partnership for the seventh year. These renewals account for a total of six deployed ASRs.
Further, a school in Texas and two local government entities in California reaffirmed their commitment to Knightscope’s ECD services. These devices enable seamless, one-touch communication with emergency services, ensuring critical safety in educational and municipal settings.
Advancing Public Safety Technology
Knightscope has also upgraded five clients to the fifth-generation K5 Autonomous Security Robot (K5v5), which represents the latest in its AI-driven safety technology. Among the adopters of the K5v5 are two casinos, a Class-A twin-tower office complex, and a storage facility. The newly engineered K5v5 is faster to manufacture, offers improved quality, and simplifies servicing.
KSCP began rolling out “hot-swaps” of its machines earlier this year, aligning with the engineering release of the redesigned K5v5. Paired with Knightscope’s Risk & Threat Exposure (RTX) enhancement, this innovation elevates the performance and reliability of its Machine-as-a-Service business model.
Strengthening Client Relationships
These contract renewals and technological advancements underscore Knightscope’s long-term commitment to safety and innovation. In addition to increasing client happiness and value, KSCP furthers its goal of making the US the safest nation in the world by preserving and growing its relationships.