NEW YORK, July 22, 2026, 3:09 p.m. EDT
- Shares of Knightscope rose 46% to $2.09 in opening trade on the Nasdaq, with volume totaling 17.29 million shares.
- Estimated revenue for the second quarter reached approximately $9 million, over three times higher than the same period a year ago.
- The projection is about 10% lower than the pro forma combined revenue reported for the first quarter.
Shares of Knightscope, Inc. NASDAQ:KSCP surged 46%, reaching $2.09 on Wednesday. The rally followed a preliminary revenue report released two days earlier. The company projected approximately $9 million in sales for the second quarter.
The growth rate reported exceeded 200%. Performance on a like-for-like basis is less robust. Estimated second-quarter revenue was approximately 10% lower than pro forma sales from the first quarter.
In its May filing, Knightscope reported Q1 pro forma revenue of $9.962 million, based on the assumption that its purchase of Event Risk was finalized on January 1. However, the acquisition was completed on February 27.
On these grounds, Q2 looks softer compared to the previous period. The calculation is still provisional as final Q2 accounts have yet to be completed.
| Revenue comparison | Revenue ($ millions) | Comparison basis |
|---|---|---|
| Q2 2025 actual | 2.7 | Reference period prior year |
| Q1 2026 actual | 6.016 | Quarter with part-year acquisition impact |
| Q1 2026 pro forma | 9.962 | Scenario: acquisition as of January 1 |
| Q2 2026 preliminary | About 9.0 | Lower by around 9.7% against Q1 pro forma |
Source: Knightscope SEC disclosures. The sequential movement reflects the company’s preliminary estimate of $9 million.
The numbers indicate otherwise. Event Risk revenue was recognized in Q1 starting from February 27, while Q2 fully reflects the acquired business for the entire quarter.
After closing, Event Risk—now operating as Knightscope Security Force—added $2.4 million. Chief Executive William Santana Li described the approach as bringing “hardware, software, and humans together as an integrated security force.” SEC
The purchased division generated the majority of gross profit in Q1, contributing $411,000 in gross margin, while the core technology segment delivered $54,000. This accounted for roughly 88% of the total gross profit reported.
As a result, the primary figure absent for Q2 is the margin. The July 20 announcement provided revenue, client numbers, and geographic coverage, but did not include gross margin, losses, or cash details.
Activity was intense, with volume climbing to 17.29 million shares as of 3 p.m. EDT. This represented 23 times the typical volume and narrowly surpassed the reported shares outstanding.
Based on the latest reported share count, a share price of $2.09 suggests an equity value of approximately $35 million. This figure is close to the annualized preliminary Q2 revenue on a one-to-one basis. This is a straightforward run-rate calculation and does not represent a projection.
Knightscope reported serving 434 clients in 42 states. The company anticipates releasing complete second-quarter results in mid-August.
Risks continue to be elevated. As of March 31, cash stood at $11.4 million. Operating cash usage in Q1 totaled $11.6 million. Management expressed significant doubt regarding the company’s ability to continue as a going concern. As of May 8, the ATM program had $18.3 million remaining. Additional sales through the program may lead to shareholder dilution.
Investors are looking ahead to Q2 gross margin and operating cash consumption, numbers that will gauge the financial soundness underlying the revenue record.
