PENN - Knightscope 9-Month Financial Report: Company Triples Net Revenue Reduces Backlog | Benzinga
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Technology is advancing quicker than ever with robotics, AI and space technology becoming not just possible but integrated into everyday life. The robotics market was valued at $31.38 billion in 2021 and is expected to reach $110.39 billion by 2030 with a CAGR of 15% from 2022-2030. Similarly, the AI market had a valuation of $454.12 billion in 2022 and is projected to reach approximately $2,575.16 billion by 2032, with a CAGR of 19% between 2023 and 2032. While things like mainstream AI adoption raised questions just 10 years ago, it is undoubtedly the way of the future.
One company, in particular, took a gamble ten years ago and started combining technology in multiple multi-billion dollar markets such as robotics, AI, electric vehicles (EV), telecommunications and autonomous tech. Knightscope (NASDAQ: KSCP) is a technology company ushering in the dawn of Autonomous Security Robots (ASRs) and working hard to protect U.S. citizens from crime across the country. Its robots are designed to deter, detect and report potential security threats, providing valuable situational awareness to security and public safety professionals.
Q3 Earnings Report
Knightscope reported financial results for the nine months ending on September 30th, 2023. The company's net revenue for this period was approximately $9.8 million, which is almost triple the $3.3 million reported during the same time frame in 2022. This translates ...