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Knightscope Announces CFO Transition, Focuses on Profitable Growth

MOUNTAIN VIEW, Calif.–December 6th, 2023–Knightscope, Inc. [NASDAQ:KSCP] (“Knightscope” or the “Company”), a leading developer of autonomous security robots and blue light emergency communication systems, today announces that Apoorv S Dwivedi, a seasoned finance executive, has accepted the position of Executive Vice President and Chief Financial Officer of Knightscope, effective January 2024.

Mallorie Burak, President and CFO, will be stepping down in early January 2024 to pursue other opportunities. William Santana Li, Chairman and CEO, will be re-assuming operational responsibilities of the President. This is one of several strategic moves on Knightscope’s path to profitability as the Company seeks to focus on profitable growth, margin enhancements, operational efficiencies and streamlined decision making.

“We wish to thank Mallorie for her service and we are extremely excited to welcome Apoorv to the Knightscope team,” said William Santana Li, Chairman and CEO, Knightscope, Inc. “We would be hard pressed to find an executive that is this highly experienced and energetic, and who has worked across several major corporations, been through the grueling challenges of a highly complex startup, taken a company public, and happens to be fluent in Reg A+ regulatory frameworks with an Ivy league education,” continued Li.

With extensive finance and corporate strategy experience, Dwivedi most recently served as the Chief Financial Officer of Nxu, Inc. (NXU). He joined the company in 2022 and helped to take it public on Nasdaq in the same year. He then led the company’s strategy around capital markets, investor relations, finance operations and corporate growth. Prior to his CFO role at Nxu, Dwivedi served as Director of Finance for Cox Automotive from 2019 to 2022 where he successfully ran the Manheim Logistics business. From 2018 to 2019, he was the Director of Presales at the SaaS company Workiva, and from 2010 to 2017 Dwivedi served in several corporate finance roles of increasing responsibility at the General Electric Company across both the GE Capital and GE Industrial businesses. Dwivedi began his career at ABN-AMRO, N.A. and was instrumental in building one of the first data analytics teams at Sears Holdings Company. Dwivedi earned his Bachelors in Finance from Loyola University – Chicago and his MBA from Yale School of Management.

“This is an incredible time to be joining Knightscope. The company is at the intersection of several key technologies including autonomy, robotics and artificial intelligence and is successfully leading the adoption of Autonomous Security Robots (ASR) to drive the future of public safety,” said Dwivedi. “I look forward to rolling up my sleeves at this pivotal time in the Company’s journey to lead financial and business strategy. Working hand-in-hand with Knightscope’s leadership team, I am confident in our ability to execute on near-term goals and to create shareholder value in the long run.”

About Knightscope

Knightscope is an advanced public safety technology company that builds fully autonomous security robots and blue light emergency communications systems that help protect the places people live, work, study and visit. Knightscope’s long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com. Follow Knightscope on FacebookX (formerly Twitter)LinkedIn and Instagram.

Forward-Looking Statements

This press release may contain “forward-looking statements” about Knightscope’s future expectations, plans, outlook, projections and prospects. Such forward-looking statements can be identified by the use of words such as “should,” “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” “proposes” and similar expressions. Forward-looking statements contained in this press release and other communications include, but are not limited to, statements about executive transitions and the timing thereof, and the Company’s goals, profitability, and growth. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks, uncertainties and other important factors that could cause actual results to differ materially from such forward-looking statements. These risks and uncertainties include, among other things, the risk that executive transitions may have greater costs than anticipated; that executive transitions may adversely affect the Company’s internal programs and the Company’s ability to recruit and retain skilled and motivated personnel, and may be distracting to employees and management; that executive transitions may negatively impact the Company’s business operations and reputation with or ability to serve customers; or that executive transitions may not generate their intended benefits to the extent or as quickly as anticipated. Readers are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Knightscope’s Annual Report on Form 10-K for the year ended December 31, 2022. Forward-looking statements speak only as of the date of the document in which they are contained, and Knightscope does not undertake any duty to update any forward-looking statements, except as may be required by law.

Contacts

Public Relations:
Stacy Stephens
Knightscope, Inc.
(650) 924-1025

Featured Image @ Business Wire

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1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, Knightscope, Inc. Market Jar Media Inc. has or expects to receive from Knightscope, Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) two hundred and sixty-six thousand USD for 89 days (63 business days).

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc. or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities.

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