00:00 A decade ago, mainstream AI was still a fantasy and so was autonomy.
00:05 But one forward-thinking company dared to combine technology across multi-billion dollar
00:10 markets.
00:11 Robotics, AI, electric vehicles, telecommunications, and autonomous tech.
00:15 That company, Nightscope, listed on the Nasdaq with the ticker symbol KSCP, created Autonomous
00:20 Security Robots, or ASRs.
00:23 These robots are now tirelessly working to safeguard U.S. citizens from coast to coast.
00:28 Nightscope's robots are more than machines, they're designed to deter, detect, and report
00:31 potential security threats, providing invaluable situational awareness to security and public
00:36 safety professionals.
00:38 This approach offers a compelling alternative to traditional policing methods.
00:41 ASRs not only decrease crime rates, but critically, also minimize human error associated with
00:46 law enforcement.
00:47 AI and robotics play a crucial role in this innovative approach, contributing to the creation
00:52 of safer public spaces by mitigating the potential errors that can arise from human police officers.
00:57 With over a decade of expertise, Nightscope seems to have demonstrated the effectiveness
01:01 of its solutions, notably in Huntington Park, Los Angeles County, where the deployment of
01:06 ASRs led to a remarkable 46% reduction in overall crime reports.
01:11 This success is underscored by the recent renewal of the contract for the fifth consecutive
01:15 year.
01:16 Nightscope's achievements have garnered widespread recognition, with the company securing corporate
01:20 contracts with major entities like Penn Entertainment, positioning the company as a leader in the
01:24 field.
01:25 This continued success in the field has led to success for the company's bottom line.
01:30 Nightscope witnessed a surge in net revenue for nine months ending on September 30, 2023,
01:34 reaching roughly $9.8 million.
01:37 This was nearly triple the $3.3 million reported in the same period last year.
01:42 With an annual revenue run right now of $13 million, more than double the previous year's
01:46 net revenue of $5.6 million, Nightscope has demonstrated consistent double-digit growth.
01:51 Despite a slight increase in the backlog for autonomous security robots, the overall backlog
01:56 during the nine-month period decreased.
01:58 Nightscope is committed to improving production processes and cost reductions, resulting in
02:02 enhanced gross margins.
02:04 The gross loss, which stood at $2.1 million for the first nine months of 2022, drastically
02:09 reduced to $154,000 during the same period in 2023.
02:14 On a per-share basis, Nightscope's performance improved, with the loss per common share decreasing
02:19 from 40 cents to 26 cents.
02:21 As of September 30, 2023, the company held cash and cash equivalents of $4.6 million.
02:28 Looking ahead, Nightscope continues to execute its plan for profitability targeting 2024,
02:33 focusing on scaling up operations and achieving sustained improvements.
02:36 In a strategic move, Nightscope recently launched its Public Safety Infrastructure Bond offering,
02:41 providing investors with an opportunity to contribute to the company's mission.
02:45 As mentioned earlier, Nightscope's success has not gone unnoticed.
02:49 The company has secured major contracts with Penn Entertainment, PG&E, ABM, Lowe's, and
02:54 a groundbreaking collaboration with the NYPD and MTA in New York City.
02:59 Known for their effectiveness and respect for privacy, Nightscope's K5 robots seem
03:03 to be making waves in corporate and public partnerships.
03:07 Beyond their groundbreaking technology, Nightscope offers an educational series exploring the
03:11 increasing role robots play in today's economy.
03:14 Discover more about the rise of the robots and Nightscope's mission to make the United
03:18 States the safest country in the world by visiting www.nightscope.com/rise.
03:22 [MUSIC PLAYING]
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