Knightscope, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Knightscope, Inc. filed its Q1 2024 10-Q, detailing financial positions and recent stock activities.</b>

AI Summary

Knightscope, Inc. (KSCP) filed a Quarterly Report (10-Q) with the SEC on May 16, 2024. Knightscope, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing details financial information and business operations for the first quarter of 2024. Key financial statement items such as retained earnings and additional paid-in capital are reported as of March 31, 2024. The report references various stock and warrant classes, including Series S, M3, and M4 Preferred Stock. Subsequent events are noted, including common stock transactions on April 8, 2024, and April 1 to May 10, 2024.

Why It Matters

For investors and stakeholders tracking Knightscope, Inc., this filing contains several important signals. This 10-Q provides investors with the latest financial snapshot of Knightscope, Inc., crucial for understanding its performance and financial health in early 2024. The inclusion of subsequent events and details on stock and warrant classes offers insight into potential future dilution and capital structure changes.

Risk Assessment

Risk Level: medium — Knightscope, Inc. shows moderate risk based on this filing. The company's financial performance and operational status are detailed in this 10-Q, which is a standard regulatory filing. Specific financial figures and operational updates will determine the actual risk level.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to assess Knightscope's current financial health and future prospects.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-05-16 — Filing Date (10-Q filing)
• 2023-12-31 — Prior Year End Date (Balance Sheet comparison)
• 2023-03-31 — Prior Year Q1 End Date (Balance Sheet comparison)

Key Players & Entities

• Knightscope, Inc. (company) — FILER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-16 (date) — FILED AS OF DATE
• 0001600983 (company) — CENTRAL INDEX KEY
• 3669 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (jurisdiction) — STATE OF INCORPORATION
• 1070 TERRA BELLA AVENUE (address) — BUSINESS ADDRESS
• MOUNTAIN VIEW (city) — BUSINESS ADDRESS

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-16: Filing Date — Date the 10-Q was officially submitted to the SEC.
• 2024-04-08: Subsequent Event - Common Stock Transaction — Indicates a significant event occurring after the reporting period.

Key Financial Figures

• $0.001 — hich registered Class A Common Stock, $0.001 Par Value per Share KSCP The Nasdaq

Filing Documents

• tmb-20240331x10q.htm (10-Q) — 1898KB
• tmb-20240331xex31d1.htm (EX-31.1) — 14KB
• tmb-20240331xex31d2.htm (EX-31.2) — 14KB
• tmb-20240331xex32d1.htm (EX-32.1) — 8KB
• tmb-20240331xex32d2.htm (EX-32.2) — 8KB
• 0001410578-24-000903.txt (&nbsp;) — 8412KB
• tmb-20240331.xsd (EX-101.SCH) — 54KB
• tmb-20240331_cal.xml (EX-101.CAL) — 62KB
• tmb-20240331_def.xml (EX-101.DEF) — 221KB
• tmb-20240331_lab.xml (EX-101.LAB) — 479KB
• tmb-20240331_pre.xml (EX-101.PRE) — 378KB
• tmb-20240331x10q_htm.xml (XML) — 1649KB

Financial Statements

Financial Statements 5 Condensed Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 5 Condensed Statements of Operations for the three months ended March 31, 2024 and 2023 (Unaudited) 6 Condensed Statements of Preferred Stock and Stockholders' Deficit for the three months ended March 31, 2024 and 2023 (Unaudited) 7 Condensed Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (Unaudited) 8 Notes to Condensed Financial Statements (Unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30 Part II Other Information 31 Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 32

Signatures

Signatures 33 2 Table of Contents Cautionary Note on Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact, including statements regarding our future operating results and financial position, our business strategy and plans, market growth, product and service releases, the status of product development, and our objectives for future operations, are forward-looking statements. In some cases the words "believe," "may," "will," "estimate," "potential," "continue," "anticipate," "intend," "expect," "could," "would," "project," "plan," "target," or the negative of these terms and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: The success of our products and product candidates, which will require significant capital resources and years of development efforts; Our deployments and market acceptance of our products; Our ability to protect our intellectual property and to develop, maintain and enhance a strong brand; Our limited operating history by which performance can be gauged; Our ability to continue as a going concern; Our ability to comply with all applicable listing requirements or standards of The Nasdaq Capital Market; Our intent or ability to effect a reverse stock split; Our ability to operate and collect digital information on behalf of our clients, which is dependent on the privacy la

—FINANCIAL INFORMATION

PART I —FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements KNIGHTSCOPE, INC. Condensed Balance Sheets (In thousands, except share and per share data) March 31, December 31, 2024 2023 (unaudited) (1) ASSETS Current assets: Cash and cash equivalents $ 2,487 $ 2,282 Restricted cash 100 100 Accounts receivable, net of allowance for credit losses 3,094 2,090 Inventory 2,883 2,320 Prepaid expenses and other current assets 1,357 1,421 Total current assets 9,921 8,213 Autonomous Security Robots, net 8,487 8,845 Property, equipment and software, net 790 857 Operating lease right-of-use-assets 1,273 1,458 Goodwill 1,922 1,922 Intangible assets, net 1,478 1,557 Other assets 122 122 Total assets $ 23,993 $ 22,974 LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 1,499 $ 1,858 Accrued expenses 1,232 1,155 Deferred revenue 1,659 1,741 Operating lease liabilities, current 755 733 Other current liabilities 1,357 1,459 Total current liabilities 6,502 6,946 Debt obligations 3,898 1,242 Preferred stock warrant liability 5,298 5,976 Derivative liability 179 271 Other noncurrent liabilities 227 259 Operating lease liabilities, noncurrent 512 711 Total liabilities 16,616 15,405 Commitments and contingencies (Note 8) Preferred Stock, $ 0.001 par value; 43,405,324 shares authorized as of March 31, 2024 and December 31, 2023, 9,473,084 and 9,499,083 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively; aggregate liquidation preference of $ 35,174 and $ 35,361 as of March 31, 2024 and December 31, 2023, respectively 34,015 34,203 Stockholders' deficit: Class A Common Stock, $ 0.001 par, 114,000,000 shares authorized as of March 31, 2024 and December 31, 2023, 93,748,259 and 80,188,600 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 94 80 Clas

View Full Filing

View this 10-Q filing on SEC EDGAR