Bedrijfsoverzicht
Knightscope, Inc. is an industrial entity focused on the design, development, manufacturing, and deployment of autonomous security robots within the United States. The company operates specifically within the Security & Protection Services industry, which falls under the broader Industrials sector, indicating a specialization in physical security automation rather than traditional labor-based security services. Knightscope currently maintains a market capitalization of $54.87M and employs 90 individuals to support its operations and product deployment. When analyzing the scale of the enterprise, the market cap of $54.87M combined with annual revenue of $11.34M suggests a mid-sized company that is still establishing its foothold in the autonomous security market. The relatively low market cap relative to the revenue figure implies that the stock market is currently assigning a lower valuation multiple to its earnings potential, reflecting the high-risk profile often associated with companies in emerging technology sectors that have yet to achieve consistent profitability.
Financiële gezondheid
The company reported revenue of $11.34M over the trailing twelve months, yet it generated a net income of -$33,815,000 and an EBITDA of -$31,320,000. The significant gap between the positive revenue of $11.34M and the substantial negative net income reveals a challenging cost structure where operating expenses vastly exceed gross profits, resulting in a gross margin of -42.1%. This negative gross margin indicates that the cost of goods sold is consuming more than the revenue generated, a critical warning sign for the sustainability of the current business model. The operating margin stands at -444.7%, while the profit margin is recorded at -298.3%, both figures highlighting severe operational inefficiencies or high fixed costs that prevent the company from converting revenue into operational profit. Free cash flow for the period was -$22,239,376, which signifies that the company is burning cash to fund its operations and R&D, thereby limiting its immediate financial flexibility to pursue organic growth without external capital injection. Regarding liquidity and leverage, Knightscope holds $20.57M in cash against $7.78M in debt, resulting in a conservative debt-to-equity ratio of 28.02%. Despite the negative earnings, the current ratio of 3.99 indicates strong short-term liquidity, as the company possesses nearly four times the current assets needed to cover its current liabilities. However, the return on equity is -155.3% and the return on assets is -61.0%, metrics that reveal management is currently ineffective at generating returns on the capital invested by shareholders or held on the balance sheet.
Waarderingsbeoordeling
Valuation metrics for Knightscope present a complex picture given the lack of earnings, with a trailing P/E ratio of N/A and a forward P/E of -1.50. The absence of a trailing P/E due to negative earnings makes historical comparisons difficult, while the negative forward P/E implies that analysts or the market expects earnings to remain negative in the upcoming period, suggesting a difficult path to profitability. The price-to-book ratio is 1.52, which indicates that the market is currently valuing the company at a premium of 52% over its book value, a valuation that is unusual for a company with negative earnings and significant cash burn. Alternative valuation metrics such as the price-to-sales ratio of 4.84 and an EV/EBITDA of -1.34 suggest that the market is pricing the stock based on revenue multiple and enterprise value relative to earnings power, though the negative EV/EBITDA reinforces the lack of current earnings generation. The stock has experienced significant volatility, trading between a 52-week high of $10.14 and a 52-week low of $2.90. While the exact current price is not specified in the provided facts, the beta of 1.59 indicates that the stock is significantly more volatile than the broader market, moving with an amplified intensity compared to market indices.
Growth & Income
Revenue growth year-over-year is -9.8%, while earnings growth is listed as N/A due to the negative net income position. The contraction in revenue of 9.8% indicates a shrinking top line, and since earnings are negative, the comparison of earnings growth versus revenue growth is not mathematically applicable in a traditional growth sense, but the decline in sales suggests a challenge in maintaining market share or recurring revenue streams. As a non-dividend payer, Knightscope reports a dividend yield of N/A and a payout ratio of 0.0%, confirming that the company retains all earnings to fund operations and growth initiatives rather than distributing income to shareholders. The sustainability of a 0.0% payout ratio is inherent to the company's stage, as it must prioritize capital retention to cover its substantial cash burn and negative free cash flow of -$22,239,376. Overall, the growth and income profile of Knightscope is characterized by revenue contraction, a lack of dividend income, and a capital-intensive strategy that requires external financing to sustain operations in the face of negative operating performance.