Revenue growth remains highly volatile, fluctuating from a 106.2% increase in 2026Q1 to periods of contraction, while gross margins have historically struggled, reaching a low of -64.1% in 2024Q1.
| Sales/Revenue | 14.43M | 11.34M | 10.8M | 12.8M | 5.63M | 3.41M | 3.33M | 3.03M | 2.94M |
| Revenue Growth % | 25.86% | 4.91% | -15.57% | 127.26% | 65.28% | 2.16% | 10.24% | 2.95% | - |
| Cost of Goods Sold | 18.28M | 16.11M | 14.5M | 14.82M | 8.95M | 5.46M | 4.63M | 4.63M | 6.51M |
| COGS % of Revenue | - | 142.13% | 134.23% | 115.82% | 158.94% | 160.38% | 138.95% | 153.14% | 221.51% |
| Gross Profit | -3.84M | -4.78M | -3.7M | -2.02M | -3.32M | -2.06M | -1.3M | -1.61M | -3.57M |
| Gross Margin % | -26.62% | -42.13% | -34.23% | -15.82% | -58.94% | -60.38% | -38.95% | -53.14% | -121.51% |
| Gross Profit Growth % | - | -29.09% | -82.76% | 39.02% | -61.35% | -58.35% | 19.19% | 54.98% | - |
| Operating Expenses | 33.54M | 29.11M | 25.98M | 24.26M | 28.65M | 22.5M | 13.34M | 8.46M | 10.8M |
| OpEx % of Revenue | - | 256.77% | 240.44% | 189.61% | 508.77% | 660.35% | 400.09% | 279.73% | 367.54% |
| Selling, General & Admin | 18.7M | 16.62M | 18.41M | 17.76M | 20.2M | 16.9M | 10.1M | 5.38M | 7.33M |
| SG&A % of Revenue | - | 146.62% | 170.37% | 138.81% | 358.73% | 495.95% | 302.79% | 177.8% | 249.27% |
| Research & Development | 15.04M | 12.49M | 7.06M | 6.35M | 8.45M | 5.6M | 3.25M | 3.08M | 3.48M |
| R&D % of Revenue | - | 110.15% | 65.35% | 49.63% | 150.04% | 164.4% | 97.3% | 101.93% | 118.27% |
| Other Operating Expenses | -200K | 0 | 510K | 149K | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -37.38M | -33.88M | -29.68M | -26.29M | -31.97M | -24.55M | -14.64M | -10.07M | -14.37M |
| Operating Margin % | -258.97% | -298.9% | -274.67% | -205.42% | -567.71% | -720.72% | -439.04% | -332.86% | -489.04% |
| Operating Income Growth % | - | -14.16% | -12.9% | 17.77% | -30.19% | -67.7% | -45.4% | 29.93% | - |
| EBITDA | -35.5M | -31.32M | -27.06M | -23.92M | -30.26M | -23M | -13.29M | -8.61M | -13.16M |
| EBITDA Margin % | -245.92% | -276.31% | -250.45% | -186.95% | -537.35% | -675.17% | -398.44% | -284.47% | -447.96% |
| EBITDA Growth % | -38.75% | -15.74% | -13.11% | 20.93% | -31.54% | -73.11% | -54.4% | 34.62% | - |
| D&A (Non-Cash Add-back) | 1.88M | 2.56M | 2.62M | 2.36M | 1.71M | 1.55M | 1.35M | 1.46M | 1.21M |
| EBIT | -37.25M | -33.78M | -29.17M | -26.14M | -16.41M | -39.51M | -17.08M | -9.85M | -13.2M |
| Net Interest Income | -117K | -39K | -423K | -551K | -9.23M | -4.33M | -2.26M | -2.1M | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 188.34K |
| Interest Expense | 117K | 39K | 423K | 551K | 9.23M | 4.33M | 2.26M | 2.1M | 0 |
| Other Income/Expense | 142K | 65K | -2.06M | 4.17M | 6.33M | -19.29M | -4.7M | -1.89M | 982.16K |
| Pretax Income | -37.24M | -33.81M | -31.73M | -22.12M | -25.64M | -43.84M | -19.34M | -11.96M | -13.39M |
| Pretax Margin % | -257.99% | -298.32% | -293.7% | -172.84% | -455.39% | -1286.85% | -579.82% | -395.23% | -455.62% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 4K | 800 | 800 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | -0.02% | -0.01% | -0.01% |
| Net Income | -37.24M | -33.81M | -31.73M | -22.12M | -25.64M | -43.84M | -19.34M | -11.96M | -13.39M |
| Net Margin % | -257.99% | -298.32% | -293.7% | -172.84% | -455.39% | -1286.85% | -579.94% | -395.26% | -455.65% |
| Net Income Growth % | -19.97% | -6.56% | -43.48% | 13.75% | 41.51% | -126.68% | -61.75% | 10.7% | - |
| Net Income (Continuing) | -37.24M | -33.81M | -31.73M | -22.12M | -25.64M | -43.84M | -19.34M | -11.96M | -13.39M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.69 | -4.00 | -10.97 | -16.77 | -33.43 | -209.05 | -98.14 | -58.71 | -66.00 |
| EPS Growth % | 64.21% | 63.54% | 34.59% | 49.84% | 84.01% | -113.01% | -67.16% | 11.05% | - |
| EPS (Basic) | - | -4.00 | -10.97 | -16.77 | -33.43 | -209.05 | -98.14 | -58.71 | -66.00 |
| Diluted Shares Outstanding | 13.86M | 84.58M | 2.89M | 1.32M | 766.98K | 212.63K | 203.78K | 203.68K | 203.58K |
| Basic Shares Outstanding | 13.86M | 84.58M | 2.89M | 1.32M | 766.98K | 212.63K | 203.78K | 203.68K | 203.58K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Persistent negative gross margins
According to the provided quarterly financial data, Knightscope's revenue growth has exhibited significant volatility, peaking at 106.2% in 2026Q1 while experiencing multiple periods of contraction, suggesting that the company struggles to maintain a predictable sales pipeline or effectively scale its installed base of autonomous security units.
The erratic revenue trajectory indicates that the company's Machine-as-a-Service model has yet to achieve the recurring stability required for predictable growth. Investors should monitor whether the recent revenue spike represents a sustainable shift in market adoption or merely the lumpy recognition of one-time hardware contracts.
As reported in financial statements, Knightscope has consistently struggled with negative gross margins, which reached a low of -64.1% in 2024Q1, implying that the direct costs associated with robot deployment and remote monitoring currently exceed the revenue generated by these autonomous security service contracts.
This persistent margin deficit suggests that the company's unit economics are fundamentally challenged by high variable costs, likely tied to human-in-the-loop monitoring requirements. Without a significant reduction in the monitor-to-robot ratio, the business model may continue to face structural headwinds that prevent the achievement of positive gross profit.
Based on the income statement history, Knightscope's operating expenses remain vastly decoupled from its revenue scale, with operating margins consistently deep in negative territory, often exceeding -200% as the company continues to prioritize R&D and corporate overhead despite the lack of a profitable core service offering.
The inability to scale operating income faster than gross profit suggests that the company is currently operating in a high-burn R&D phase rather than an execution phase. This lack of operating leverage warrants further investigation into whether management can eventually optimize its cost structure or if the current overhead is a permanent fixture of its business model.
Data from the income statement reveals that Knightscope's reliance on external funding is exacerbated by its inability to generate positive cash flow from operations, as evidenced by the persistent net losses that have necessitated frequent capital raises to sustain the company's ongoing research and development activities.
Short-sellers would likely focus on the widening gap between the company's technological vision and its actual financial performance, particularly the risk that the current hardware fleet may require more maintenance than the company can afford. The ongoing reliance on equity dilution to fund operations suggests that the company's long-term viability remains highly sensitive to capital market conditions.
Quick answers to the most common questions about buying KSCP stock.
For fiscal year 2025, Knightscope, Inc. (KSCP) reported total revenue of $11.3M. This represents a 285.7% increase compared to $2.9M in 2018.
Knightscope, Inc. (KSCP) reported a net loss of $33.8M for the fiscal year ending 2025.
Knightscope, Inc. (KSCP) reported an operating income of $-33.9M, resulting in an operating profit margin of -298.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Knightscope, Inc. (KSCP) generated $-4.8M in gross profit for the year, representing a gross profit margin of -42.1%. This demonstrates the company's core pricing power and production efficiency.