Knightscope Going Public, Boasts "Main Street First, Wall Street Second"
Knightscope's CEO proudly declares that they are putting "MAIN STREET FIRST, WALL STREET SECOND", as the company intends to go public on the Nasdaq in the next month.
But will this really put "main street first" for the company that has raised $100+ million from 28,000+ investors, now at a half-billion-dollar valuation?
Inside this note, we examine Knightscope's positioning, its most recent disclosed financial results, and the risk for "main street" as the company lists publicly.
*********** **** **** ***** ** * recent *********** ***** ** **** ** their ********* ********** ***** ** ** $** ************* **** ** ******, ** *** video *****:
"Main ****** *****"
*********** *** ***** *** "**** ****** first" ** *** *********** ******* **** the **** *** ***** ** **,***+ investors **** ******** ** ** ******* of ********* ** ******* *** ********. By ********, **** "**** ******" ** VCs **** ***********, ********* ***** *********** are ** *** ******** ** **** of ******** ** *******.
*** *** ****** ******** *************'* ********'* ****** *********** **** ****** *** *** their ****** ***** ** ****** **** Knightscope:
$500 ******* *********
********* *** *** ****** ****** ** a ~$*** ******* *********, ***** *******'* ******** *********** ***** *****:
Weak ****** - **% ***** ** * *****
***********, *** *******'* ******** **** ***** no ******* ** **** *** *******'* actual ******* ******* ** *** **** its ******* ****** **.
**** ** ******** *** ** ******** deck *** **** ******** *** * startup ** ***********'* **** ******* ******. Losing ***** ** ** ** ******** but ****** ****** **** ** *********** by ****** ***-**** ******* ******. ******* growth ** ** ***** **% **** over ****,**** ***** ****** **********, ********* *****:
*** **** *** **** * *****, revenue ****** ** **** ** ~**% total, **** ** **** ** $*.** million ** ** **** ** $*.*** million.
*** ********, ******* **% ** * year ** *** ***** *** **** growing **% ***** ** * ***** is ********** ***.
*** *** **** ** *** * company (***********) ***** **** ******* **** be ** *** $* ******* ***** versus *** ******* ********* ** ~$*** million.
NASDAQ ******* **** *****
***** ***** ** ******* ***** **** small *********,*********** ******** **** ** ****** ** *** NASDAQ ** **** ** **** *****:
Hope *** **** ******
"**** ******" ***** ****** **** **** public *******, ********** ** *** ***** spikes. ** *** **** *****, **** can **** ***** ******.
****, *********** *** **** ** *** exuberance *** ***, ********, ********, ***., perhaps *********** *** ****** ******* ** the ****** *******.
Risk *** **** ******
*** ************ *** *********** *** ************ as ****** **** ** ***** **** meager ****** ** * ***** *********** for ******** ****** *********. ******** ********* could *** ******* ** *** ********** day ** *** *** *** ***** of *** ****** ****** *****. ****, short ******* ***** *** **** ** a *** ** ******, ***** ***********'* fundamental ****** *** *** ********* "**** street" ***** **** *** **** **** the ******* ** ****.
**********, ** *********** *** *** **** more ****** (*** ******* *** **** stuck ** *** ** ******* ***** for * *** *****), *** ******* of ******* *** ****. *** ** they ******** ** ******** ** ****, main ****** *** ** **** ** tears.
Vote / ****
******* *****.
*** **** ***** **** ***** *** it ****** ****** **** *** ***** to ***** *** ****** **********.
****** **** *** *** ********* ********* on **** ******* **** *** *****.
** *** *** ** *********** *** its **** ** **** **** **** technology ** **** *** *** ** distant ****** **** **** ****.
*** ******** *** ******* *** ******* time *** **** ******* ** ** public. * ***** **** *** ******* investors ** **** ******* *** ******** going ** **** *****. ** **** see...
***** **********, **** **** *** *-****** you'll ***** **** *** ******.
*********** *** *** *** ****** ********** **** **** *-****** *** ********...
***** **** ** **** ******** ******** company **** ******** ***** *** *** apparel (******* ***********) *** * ***'* think ** *** ***********....
* **** **** * ****** *** something *** **** ** * ****** my ***** ***** **-*******.
**** ***** ** * *** ****** for ***********.
** **** ******* ***** ** **** thing ***** *** **** ** ***** a **** ****** *** ****** *** a **** ** * ******-*-***** **********? Knightscope ***** ***** ****** ** ******* and *** **** **** ** **** the ***** **** ******* ******. ***** combine ** **** * ***** ****** for ** **************** ***** ** *** kids ****** ** **** *** ***** before ** ***** ******.
*** * ***'* ***** ** *** immediately
****'* ******* *** ******* **** **** kind ** ***** **** ** ********* and ********* *********. ***, **** **** 50 ****** ********, *** ***'* ** stuff **** **** ********* ***+, **** likely *** *** ** ****** ** give **** **.
***** ***** **********, ***** ** ******* materials ***** *********** ** *** **** profitable **** ** *** *******. * wonder ** **'** *** * **** item ** ***** **********, ** * chart ******** ****** ** ******* ***** sales ** * ******* ********* ** future ********?
* *** ******* ** *** ** anyone ***** **** *** **** ** them ******* **** *-****** **** ******....
****'* ******* *** ******* **** **** kind ** ***** **** ** ********* and ********* *********
******. **'* *** ** * ****** center.
* *** ******* ** *** ** anyone ***** **** *** **** ** them ******* **** *-****** **** ******....
*'* **** ** *****.
***,**** ** ****, *********** *** ****** **** *-******, "audio ***** ******" *** **** "******* edition *********** *** *****":
**** * ********** *****. *** *** of * ****** ******* *** * fiduciary ************** ** ******** ***** ***** at *** *****. **** ****** ** Wall ******, *** **** ******. ** treat **** **** ******** ***** **** a ******* ***** ** *** *** company **** ******** ** ************.
**** ** **** *** **** ** fact ***** ******** ******** ******* ****** than ****** ** *** *****, ****'** get ****** ** *** ***** *** replaced **** ******* *** **** **** about **** ******. **** ** *** public ********* *******.
**** * ********** *****
** *** ******* ** *** *****, he ** ********* / ****** ** potential *********. ** * *** *** know ***********'* ********** *** ******* (***** 'main ******' ********* ***** ** ***), I ***** ***** ** ** ********** to *** **** ** '**** ******' investors **** *********** ** ****** ** get **************** ** ******.
***** ** ***** ** ****** ** private ********* ******, *'** *** **** more ******** ** *** **** *** mis-handling *** *** ** *******.
* **** **-******* *** *****, *** the **** * *** *** ****** time ** **** ****'** ****** ** stem ******. **** **** **** *** WAAAAYYYY **********. $*** ******* ********* *** a ******* **** ** ******** ******* that **** $** ******* **** ****? Are **** ** *****? *** ** they *** ********* ** * $** million ****? **** ********* ** ***** to *** **** *****? ** ****, only **% ** ********* **** **** to **** * ****** ***** ***** IPO. *********** *** **** *** ******** this **********.
**'* ******** ******** - ********* ** retail ********* ***** *** ********* **** the *******/****** ******* ** **** ** informed ********. ** ******'* ** **** obvious **** *** ****** ** **** advantage ** * **** ** ***********.
*** ******* ******* ***** *** ** me-
"**** ***********, ***** *****"
*** **** *** ****? ******* **** know *** ***** ***** ** ***** to ***** ****. * **** **.* ** *** * ********* ******* and **** ** *** ********* ******. Don't ****** ** **.
*** ** **** *** ********* ** a $** ******* ****? **** ********* is ***** ** *** **** *****?
********* *** *** * ******* *** tech *********. **** **** **** ** grow ****. *** **** **** **** is **** *****?
********* *** *** * ******* *** tech *********. **** **** **** ** grow ****.
*****.
** *** **** ** ******** ** cash ********** ***********'* ****** *** ** the ******* ***** ********** ** *** last ****** ** *****? ** **** like **** *** *******...
*********** *** ******* ***** **** **** of ***** ********* ******* ***** *** city ***** ****** *** ********* *** name ** ******** (******, *'*****, ***) leading ** ** **** **** ** go ******.
*******, ***** ** ***** ******** ***** over **** **** **** *****, ** appears ** ** ****** ****** ***** their ******... ** ** ***** **** don't **** ** **** ****.
* ***** ** ***** **** *** will **** *** ** *** ***** legally ********* *********** **** ****.
**** *** ***** ****** ***** ******* ***********'* **** *** ** ****** crime ** *** ** **% ** deploying *** ******, ** *** ********* to ***** ******** **** *** ***********, ***.
**** ** ******** ******. * ***** if **** *** ******* *** * few ***** ******* ****** *** *****, come ** **** * *** ******* that *****'* ****, *** *** * bunch ** ****** ** *** *** said ******* **** *** ** **. Barring **** **** *** *******.
"****** ***** ***... ***** ***, ***** courtesy ********* ******."
* ***'* ***** ** ****** **** really ***** ** ******** * ***** fleet ** ******* *** **** ****...
***** *** ** *** ******* *** from ** ********** ********** * ***'* see *** ******* *** **** ****. Wall ****** ***** *** *******, ******* main ****** ***** ***** **** **** their ****.
**** ** **** **** ******'* ***** and ***** ** * ***** ***** vacuum ** ******* ** ****** *** I ** **.
*********** ********* ***** ******* ***** ** NASDAQ ******* ** ** **** ****:
* ** ********** ** *** *** the ***** ****** **** *** ***** month. *****'* * *** ** ********** in *** ******.
*********** ** *** ******, ******* ** the ******, **** **% **** *******:
****'* *** *** *********** ****'* ***** something **** * $*** ******* ****** cap *** * ******* ***** ~$* million *******, **** ******* ******* ****** and **** ****. **'** ***** *** the ***** ******.
***** **** **% *** *** ***:
****'* ***** * ~$*** ******* ****** valuation.
** **** ** * *** ****** at **** ***** *** **** ** see ** / ***** *** ***** price ******* ** *** **** **** or *****.
**** *** ** ** **** *****. I'm ******** *********.
* *** ********* **** **** *********** raised ***** $*** ** ****, ** a ****** **** **** **** ** their $*** ********* *****.
**** *** *** ** ******* *** raising ***** ** **** *****, ***'* do ******* ************ ******. **** ***** be **** ** **** *** **** additional *****, *** **** ***** ********. I ****** ** $*** **** *** them *** ****** *****.
****:
** **** ***** **, *********** *** raise *** **** **** ** *** public *******.
************, ******, *** *** ***** ** best. ******* **** ***** ** ******* will ****, **** **** *** *********.
**** ** * ******* ******* ** how *** ***** ****** ***** ** sense **********. * ***** ****** **** any ******** **********, *** ********** ** robotics, **** *** **** **** *** of ***** ******* ******* ** *** wild ** *** **** * ***** realizes ***** **** ***** **** ** do *** **** *** ****** ***** than *** ***** ********.
****'* **** ********** ** **** *** company's ********* ************ *** ****. *** revenue, *** ****** **** ** **** high ****** *** **** **** ********* is *** ** ***** ***** *******.
* ** ****** *** ** ****** right ***, *.*. ****** ** ************* investors.
**** *** *** ** ******* *** raising ***** ** **** *****
* *** **** ***, *** ******* occurred ** **... *** ****'* *********** started ***** *** ************** ** ****** into ****? ** ***** **** ******* the **** ** ***** **** ****** they **** *****.
********** *** **** ******* *** ******* money **** ******. ** * ********-****** company, **** *** **** **** ***** regularly ** **** ****** ******* **** before. ** ******, **** ** ********* on *** ***** ***** *** ** Friday ******** ***********'* ******, **** ***** raise $** ******* **** ** * few ******.
******* **** ****:******** ***** ***** ***** *** ******** meme ***** ****** ** ***** **** $1 ******* ***** ****
***'* **** *** **** ******* **** had *** ** ***** ****** ***** itself **** *** ****?