olivLaw · US equity research
Knightscope, Inc. KSCP
Communications Equipment, NEC · SIC 3669 · Vertical: Communications Equipment, NEC (SIC 3669)
Knightscope is a security technology company that delivers, as a managed service, autonomous robots, software and licensed security personnel under the Autonomous Security Force name. In 2026 the company expanded considerably through the Event Risk acquisition, which lifted its revenue but also its losses and funding needs, and this combination remains central to any assessment; revenue for the first nine months of 2026 reached about 23.7 million USD in a preliminary report.
At the close of 04 Nov 2026, Knightscope, Inc. (KSCP) stock was 0.46 USD (+2.22% on the day), with market capitalisation 34.7 m USD, beta 2.22, 52-week range 0.45–5.53 USD. Latest reported quarter (Q2 2026): revenue of 9.0 m USD (+228.3% YoY), net income of -14.1 m USD, diluted EPS -0.79 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 19.6
- oversold (≤ 30)
- Bollinger (20, 2)
- 0.42 – 0.65
- in the lower half of the band · %B 0.16 · band width 41.7%
- SMA 50 / 200
- 0.89 / 2.40
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.12 / -0.13
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −36.6% | −1.1% | −35.5 pp | — |
| 3 months | −70.7% | −0.5% | −70.2 pp | — |
| 6 months | −85.2% | +4.4% | −89.6 pp | — |
| Year to date | −87.6% | +12.3% | −99.9 pp | — |
| 1 year | −89.4% | +13.5% | −102.9 pp | −24.8% |
| 3 years | −98.6% | +76.4% | −175.0 pp | +27.9% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.5 m | 2.8 m | 2.9 m | 2.7 m | 3.1 m | 2.5 m | 6.0 m | 9.0 m |
| Cost of revenue | 3.0 m | 4.1 m | 3.6 m | 3.7 m | 4.7 m | 4.2 m | 5.6 m | 8.4 m |
| Gross profit | -506.0 k | -1.3 m | -668.0 k | -918.0 k | -1.6 m | -1.6 m | 465.0 k | 664.0 k |
| Research & development | 1.8 m | 2.1 m | 2.1 m | 2.1 m | 3.8 m | 4.5 m | 4.7 m | 6.0 m |
| SG&A | — | — | 4.0 m | 3.3 m | — | — | 6.1 m | 7.7 m |
| Operating income | -7.7 m | -6.9 m | -6.8 m | -6.3 m | -9.5 m | -11.3 m | -10.3 m | -13.1 m |
| Depreciation & amortisation | 614.0 k ≈ | 723.0 k | 656.0 k | 639.0 k ≈ | 642.0 k ≈ | 623.0 k | 798.0 k | 1.2 m ≈ |
| Pre-tax income | -10.9 m | -7.0 m | -6.9 m | -6.3 m | -9.5 m | -11.1 m | -10.3 m | -14.1 m |
| Net income | -10.9 m | -7.0 m | -6.9 m | -6.3 m | -9.5 m | -11.1 m | -10.3 m | -14.1 m |
| Diluted EPS | -3.58 | -1.63 ≈ | -1.28 | -0.90 | -0.98 | -0.95 ≈ | -0.74 | -0.79 |
| Operating cash flow | -4.7 m ≈ | -5.1 m | -6.4 m | -5.5 m ≈ | -7.9 m ≈ | -10.6 m | -11.6 m | -11.5 m ≈ |
| Capex | 8.0 k ≈ | 31.0 k | — | — | 231.0 k ≈ | 242.0 k | 111.0 k | 285.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | 3.3 m | 3.4 m | 5.6 m | 12.8 m | 10.8 m | 11.3 m |
| Revenue YoY | unavailable | +2.2% | +65.3% | +127.3% | −15.6% | +4.9% |
| Net income | -19.3 m | -43.8 m | -25.6 m | -22.1 m | -31.7 m | -33.8 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -1.96 | -4.18 | -0.72 | -16.77 | -10.97 | -4.00 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -579.9% | -1,286.9% | -455.4% | -172.8% | -293.7% | -298.3% |
| Free cash flow | unavailable | -20.2 m | -24.2 m | -24.6 m | -22.5 m | -31.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 20.6 m USD
- Financial debt
- 4.4 m USD
- Net debt
- -16.1 m USD
- Equity
- 27.8 m USD
- Total assets
- 41.3 m USD
- Debt / equity
- 0.16x
- Current ratio
- 3.99x
- ROE
- -155.3%
- ROA
- -97.4%
- FCF margin
- -273.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.3 m | 3.4 m | 5.6 m | 12.8 m | 10.8 m | 11.3 m | SEC (XBRL)· 27 Mar 2026verified |
| Cost of revenue | 4.6 m | 5.5 m | 9.0 m | 14.8 m | 14.5 m | 16.1 m | SEC (XBRL)· 27 Mar 2026verified |
| Gross profit | -1.3 m | -2.1 m | -3.3 m | -2.0 m | -3.7 m | -4.8 m | SEC (XBRL)· 27 Mar 2026verified |
| Research & development | 3.2 m | 5.6 m | 8.4 m | 6.4 m | 7.1 m | 12.5 m | SEC (XBRL)· 27 Mar 2026verified |
| SG&A | — | — | — | — | 18.4 m | 16.6 m | SEC (XBRL)· 27 Mar 2026verified |
| Operating income | -14.6 m | -24.6 m | -32.0 m | -26.3 m | -29.7 m | -33.9 m | SEC (XBRL)· 27 Mar 2026verified |
| Depreciation & amortisation | 1.4 m | 1.6 m | 1.7 m | 2.4 m | 2.6 m | 2.6 m | SEC (XBRL)· 27 Mar 2026verified |
| EBITDA | -13.3 m ≈ | -23.0 m ≈ | -30.3 m ≈ | -23.9 m ≈ | -27.1 m ≈ | -31.3 m ≈ | SEC (XBRL)· 27 Mar 2026derived |
| Pre-tax income | -19.3 m | -43.8 m | -25.6 m | -22.1 m | -31.7 m | -33.8 m | SEC (XBRL)· 27 Mar 2026verified |
| Income tax | 4.0 k | — | — | 0 | 0 | 0 | SEC (XBRL)· 27 Mar 2026verified |
| Net income | -19.3 m | -43.8 m | -25.6 m | -22.1 m | -31.7 m | -33.8 m | SEC (XBRL)· 27 Mar 2026verified |
| Diluted EPS | -1.96 | -4.18 | -0.72 | -16.77 | -10.97 | -4.00 | SEC (XBRL)· 27 Mar 2026verified |
| Weighted average diluted shares | 10.2 m | 10.6 m | 35.6 m | 1.3 m | 2.9 m | 8.5 m | SEC (XBRL)· 27 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 7.1 m | 10.7 m | 4.8 m | 2.3 m | 11.1 m | 20.6 m | SEC (XBRL)· 27 Mar 2026verified |
| Receivables | 874.0 k | 1.2 m | 1.4 m | 2.1 m | 1.7 m | 2.1 m | SEC (XBRL)· 27 Mar 2026verified |
| Inventories | — | — | 2.6 m | 2.3 m | 1.8 m | 2.3 m | SEC (XBRL)· 27 Mar 2026verified |
| Current assets | 8.8 m | 13.3 m | 10.1 m | 8.2 m | 15.1 m | 26.4 m | SEC (XBRL)· 27 Mar 2026verified |
| Property, plant & equipment, net | 22.0 k | 117.0 k | 614.0 k | 857.0 k | 661.0 k | 1.1 m | SEC (XBRL)· 27 Mar 2026verified |
| Goodwill | — | — | 1.3 m | 1.9 m | 1.9 m | 1.9 m | SEC (XBRL)· 27 Mar 2026verified |
| Intangibles (excl. goodwill) | — | — | 2.1 m | 1.6 m | 1.2 m | 924.0 k | SEC (XBRL)· 27 Mar 2026verified |
| Total assets | 12.9 m | 17.6 m | 22.1 m | 23.0 m | 28.2 m | 41.3 m | SEC (XBRL)· 27 Mar 2026verified |
| Accounts payable | 232.0 k | 1.5 m | 2.5 m | 1.9 m | 2.8 m | 2.5 m | SEC (XBRL)· 27 Mar 2026verified |
| Short-term debt | — | 7.1 m | 2.1 m | — | 1.4 m | 405.0 k | SEC (XBRL)· 27 Mar 2026verified |
| Long-term debt | 4.6 m | 7.1 m | 6.6 m | 1.2 m | 4.0 m | 4.0 m | SEC (XBRL)· 27 Mar 2026verified |
| Current liabilities | 2.6 m | 12.2 m | 10.5 m | 6.9 m | 8.3 m | 6.6 m | SEC (XBRL)· 27 Mar 2026verified |
| Total liabilities | 14.0 m | 43.3 m | 29.9 m | 15.4 m | 12.4 m | 13.5 m | SEC (XBRL)· 27 Mar 2026verified |
| Equity | -66.2 m † | -82.9 m † | -43.6 m | -26.6 m | 15.8 m | 27.8 m | SEC (XBRL)· 27 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -15.2 m | -20.1 m | -24.1 m | -24.2 m | -22.5 m | -30.3 m | SEC (XBRL)· 27 Mar 2026verified |
| Capex | — | 117.0 k | 111.0 k | 457.0 k | 43.0 k | 654.0 k | SEC (XBRL)· 27 Mar 2026verified |
| Free cash flow | — | -20.2 m ≈ | -24.2 m ≈ | -24.6 m ≈ | -22.5 m ≈ | -31.0 m ≈ | SEC (XBRL)· 27 Mar 2026derived |
| Investing cash flow | -632.0 k | -2.3 m | -9.9 m | -5.1 m | -3.2 m | -2.5 m | SEC (XBRL)· 27 Mar 2026verified |
| Financing cash flow | 22.2 m | 26.1 m | 28.0 m | 26.8 m | 34.5 m | 42.2 m | SEC (XBRL)· 27 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 32 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 34.7 m USD
Key indicators
Coverage and freshness
Score by group
- Quality3
- Growth82
- Valuation19
- Balance sheet21
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.37 – 0.43 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/Sales0.37 – 0.43 (Mid 0.39)5 companies used · median multiple 1.2x · quartiles 1.2x – 1.4xAIOT, ESE, MTEK, REKR, TBCH
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 32/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | -9.9% | 0 (on a fixed band) | 12% |
| EBIT margin · Quality | -213.5% | 9 (vs peers) | 10% |
| FCF margin · Quality | -205.0% | 0 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 26.3% | 100 (on a fixed band) | 19% |
| Revenue growth (YoY) · Growth | 4.9% | 45 (vs peers) | 10% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.2x | 21 (on a fixed band) | 7% |
| EV/Sales · Valuation | 1.5x | 33 (vs peers) | 19% |
| FCF yield · Valuation | -122.4% | 0 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial21/100 · 1/2 factors with a value
- Growth82/100 · 2/2 factors with a value
- Quality3/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation19/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Knightscope, Inc. (KSCP). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 11.3 m USD in 2025; YoY growth 4.9%; net margin -217.3%; ROE -201.3%.
The estimated value range is 0.37–0.43 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.39 USD, the price of 0.46 USD leaves a potential of -15.9% (value / price − 1) and a margin of safety of -19.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 32/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 26.3%
What contradicts it
- Gross margin: -9.9%
- EBIT margin: -213.5%
- FCF margin: -205.0%
- Current ratio: 1.2x
- FCF yield: -122.4%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, Shareholder yield (distributions).
Versus the vertical median
Communications Equipment, NEC (SIC 3669) · same industry (4-digit SIC) · compared with 11 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LITELumentum Holdings Inc. | 56.8 bn | — | -245.8% | -175.8% | +83.2% | +93% / +1,364% |
| ESEEsco Technologies Inc. | 6.2 bn | 19.8 | 21.4% | 24.4% | +19.2% | +13% / +128% |
| NSSCNapco Security Technologies, Inc | 1.1 bn | 25.9 | 23.4% | 21.6% | +11.4% | −21% / +4% |
| AIOTPowerfleet, Inc. | 381.2 m | — | -4.0% | -4.2% | +22.4% | −43% / +22% |
| TBCHTurtle Beach Corporation | 303.7 m | — | -3.2% | -1.1% | −14.2% | +22% / +50% |
| INSGInseego Corp. | 79.3 m | 25.3 | — | -6.4% | −13.1% | −56% / +120% |
| AMPGAmplitech Group, Inc. | 74.5 m | — | -19.4% | -33.4% | +165.0% | −25% / +56% |
| REKRRekor Systems, Inc. | 49.3 m | — | -62.8% | -43.8% | +5.3% | −80% / −87% |
| KSCPKnightscope, Inc. | 34.7 m | — | -201.3% | -217.3% | +4.9% | −89% / −99% |
| SNTSenstar Technologies Corporation | 33.7 m | 10.3 | 8.0% | 8.8% | +1.7% | −63% / +28% |
| UTSIUTStarcom Holdings Corp. | 19.2 m | — | -19.5% | -88.5% | −17.5% | −16% / −42% |
| MTEKMaris-Tech Ltd. | 2.1 m | — | -168.6% | -403.3% | −77.9% | −81% / −75% |
1- and 3-year price returns: for KSCP from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Knightscope is a security technology company that delivers, as a managed service, autonomous robots, software and licensed security personnel under the Autonomous Security Force name. In 2026 the company expanded considerably through the Event Risk acquisition, which lifted its revenue but also its losses and funding needs, and this combination remains central to any assessment; revenue for the first nine months of 2026 reached about 23.7 million USD in a preliminary report.
SWOT
Strengths
- The company has an integrated model combining hardware, software and licensed personnel in one managed service 12.
- The Event Risk acquisition brought guarding and executive protection capability, opening access to larger contracts 2.
- Revenue grew strongly across three consecutive quarters in 2026, and the company reports a record volume of renewals and contracts 3.
Weaknesses
- The company keeps reporting net losses, and its going-concern warning shows its dependence on additional funding 12.
- Cash fell significantly in the first half of 2026, and deferred acquisition payments add financial pressure 12.
- The supply chain depends on single-source suppliers for some ECD components, which delayed production and raised costs 1.
Opportunities
- If government and corporate clients keep seeking integrated security solutions, the company could extend its long-term contracts 3.
- Launching the Autonomous Security Force model and the next-generation K7 and K1 platforms could open new client categories 13.
- Cross-selling monitoring technology into guarding clients could increase recurring revenue 2.
Risks
- Going concern and fundinghigh
The auditor's going-concern warning, combined with repeated losses and low cash, shows that the company depends on raising additional capital 12.
- Integration of the Event Risk acquisitionhigh
Integrating a guarding firm and its personnel can be costly and distract management; if expected synergies do not materialise, the value of the acquisition could be affected 12.
- Supply chain and tariffsmedium
Reliance on single-source suppliers and rising component costs can delay production and reduce margins, especially in the ECD segment 1.
- Long sales cyclesmedium
Long sales cycles and unpredictable government budgets can make quarterly revenue hard to forecast 1.
- Regulation and legal liabilitymedium
Requirements on privacy, data and guarding services can raise costs and expose the company to litigation or fines 1.
Investment thesis
What would need to be true (bull case)
- If the revenue growth of 2026 holds and the integrated model wins larger contracts, the company could gradually reduce its dependence on external funding.
- The record volume of renewals and contracts reported after the second quarter could indicate that clients are accepting the Autonomous Security Force model.
- The company's stated total addressable market is very large, which would leave room for growth even with a small share.
What would break the thesis
- Continuing net losses and the going-concern warning suggest that additional funding may be needed in the near term, with possible dilution.
- Revenue growth in 2026 relies largely on one acquisition, and without it organic revenue could be much smaller.
- Competition from larger, well-funded firms could limit the company's ability to win contracts at profitable prices.
What to watch
- Full third-quarter results including gross margin and net lossQ3 2026
- Development of cash position and funding, including deferred Event Risk paymentsQ1 2027
- Timing of K7 ASR commercial production and conversion of backlog into revenue2027
- Auditor's view on going concern in the next annual reportnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Knightscope, headquartered in Sunnyvale, California, frames its mission around making the United States the safest country in the world, serving commercial, government, healthcare, education, transportation and residential clients 1. The company combines three components: hardware (ASR autonomous security robots and ECD emergency communication devices), software (the KSOC cloud platform and the KEMS diagnostics tool) and human personnel, from licensed guards to RTX analysts who verify alerts in real time 1. It is delivered as an integrated managed service with single-point accountability, and from 2026 it includes licensed guarding and executive protection services acquired with Event Risk 2.
Revenue came from two main sources in 2025: Machine-as-a-Service subscriptions covering ASR robots, maintenance, KSOC access and software updates, and sales of ECD devices with recurring maintenance contracts 1. A third source appeared in 2026, the guarding and executive protection services of Knightscope Security Force, which accounted for most of the quarterly growth reported 23. The company remains loss-making, reported 8.2 million USD in cash at June 30, 2026, and carries a going-concern warning 2.
Product development centres on the next-generation K7 ASR for large, complex environments and the K1 Capsule and Super Tower blue light platforms; commercial production of the K7 was not expected before late 2026 or early 2027 1. The company holds twelve patents related to its ASRs and KSOC data analysis features 1.
Segments
ASR services (MaaS)
Machine-as-a-Service subscriptions for ASR robots remained a significant part of the recurring revenue base in 2025, with relatively stable year-over-year revenue from this line 1. In the second quarter of 2026 service revenue rose sharply, but this was driven by the acquisition rather than ASR subscriptions, which declined 2.
Emergency communication devices (ECD)
The ECD segment includes blue light towers, emergency phones and highway call boxes; product sales grew in 2025, but supply chain constraints involving single-source suppliers delayed shipments and raised costs 1. In the second quarter of 2026 ECD product revenue fell, and the related maintenance contracts were reduced 2.
Human security and executive protection (Security Force)
Through the Event Risk acquisition the company added armed and unarmed guarding personnel and executive protection services, enabling bids for contracts that require human presence in the security package 2. This became the largest revenue source in 2026, although it also brings higher payroll costs 2.
Market context
The company estimates the total addressable market for U.S. security services exceeds 230 billion USD in 2026, a figure that also covers public safety infrastructure and AI-powered analytics, but which is derived from industry research and internal assumptions 1. The company stresses that this estimate may not reflect actual revenue potential or market penetration 1.
The security industry faces rising labour costs and workforce shortages, which could make higher-efficiency technology solutions more attractive, though demand depends on client acceptance and regulatory compliance 1. Growth so far has partly come from acquisitions, and a positive outcome would depend on integrating operations and commercial execution 23.
Trends
- Demand for integrated security modelstailwind
Clients increasingly seek a single accountable provider for physical presence, automated detection and reporting, which matches the Autonomous Security Force model 13. If this trend persists, it could support the company's bundled contracts.
- Labour shortages and rising wagesmixed
Personnel costs and staffing shortages affect the whole guarding industry, and automated systems could reduce reliance on headcount 1. However, Knightscope is itself expanding its security workforce, so the same pressure directly affects its costs 12.
- Supply chain disruption and tariffsheadwind
Electronic components, long lead times from single-source suppliers and tariffs raised costs and delayed production, especially for ECD, and the company cannot be sure it can fully offset these increases 12. This is a continuing pressure on margins.
- Data and AI regulationheadwind
The legal framework for privacy, data security and AI use is changing quickly, which could raise compliance costs and contractual risk 1. Requirements for federal contractors add further obligations 1.
Competitive position
Knightscope operates in a fragmented market where it competes with traditional guard providers, security system integrators, surveillance hardware makers, remote monitoring firms and autonomous robotics companies 1. Many competitors have longer histories, larger customer bases and significantly greater financial resources than the company 1.
The company's stated edge is combining licensed personnel with robots and software in one managed service, allowing it to bid for contracts that require licensed guarding 12. If the integration works, it could widen its competitive reach, but this still depends on execution and client adoption 1.
- National and regional traditional guard providers
On-site personnel-based security firms with larger customer bases and resources, with which Knightscope now competes directly after the Event Risk acquisition 12.
- Security system integrators
Companies that design, install and maintain surveillance and access control systems, often with nationwide reach 1.
- Surveillance hardware and ECD manufacturers
Companies offering cameras, sensors and emergency devices, sometimes bundled into integrated packages 1.
- Robotics and autonomous patrol systems companies
Developers of ground-based or aerial patrol technologies that compete with the company's ASR robots 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report20 Oct 2026Results of operations · Financial statements and exhibits
- Current report22 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report21 Sept 2026Other events · Financial statements and exhibits
- Current report04 Sept 2026Departure or appointment of officers · Shareholder vote
- Current report12 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report12 Aug 2026
- Proxy statement24 Jul 2026
- Current report20 Jul 2026Results of operations · Financial statements and exhibits
- Current report08 Jun 2026Departure or appointment of officers
- Current report (amendment)15 May 2026Acquisition or disposition of assets · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Knightscope, Inc. · 27 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Knightscope, Inc. · 12 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Knightscope, Inc. · 20 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.