Key Highlights

  • Knightscope (NASDAQ:KSCP) was trading down 9.82% at USD 0.4012 in pre-market on Friday, November 13, 2026, a day after reporting third-quarter 2026 results.
  • Third-quarter Revenue rose 177% to USD 8.7 million from USD 3.1 million, with service revenue of USD 8.6 million including USD 6.6 million from the Security Force business.
  • Gross Margin was only USD 0.4 million, or 5% of revenue, and operating expenses reached USD 12.0 million, leaving a net loss of USD 11.8 million, or USD 0.50 a share.
  • Cash was USD 6.8 million at September 30, 2026, which is about 58% of the quarter's net loss, calculated, and the filing flags going-concern risk.

Triple-Digit Growth Meets a Thin Gross Margin

Knightscope reported third-quarter results on November 12, 2026 for the quarter ended September 30. Revenue of USD 8.7 million was up 177% from USD 3.1 million, and a preliminary release earlier had already flagged triple-digit growth, so the new information was on costs. Service revenue was USD 8.6 million, while product revenue fell to USD 0.1 million from USD 1.2 million. Gross margin turned positive at USD 0.4 million against a USD 1.6 million gross loss a year earlier, but at 5% of revenue it leaves little to cover operating expenses of USD 12.0 million. Selling a service subscription model means revenue builds over time, and that is why gross margin matters more than the growth rate.

Net Loss, Share Count and the Cash Position

The net loss was USD 11.8 million, or USD 0.50 per share on 23.6 million weighted average shares, compared with USD 9.5 million, or USD 0.98, on 9.8 million shares a year earlier. The per-share loss narrowed mainly because the share count rose, not because the loss shrank. Cash of USD 6.8 million at quarter end is small next to that loss, and the release mentions an at-the-market offering program and a need for more financing. At-the-market sales issue new shares into the market over time, which dilutes existing holders. The release lists the ability to continue as a Going Concern among its risk factors. Cash covers only part of a single quarter of losses on a net basis, although some losses may be non-cash and the company can raise money in other ways.

Bookings, K7 Production and What to Watch Next

The company said it has secured about USD 27 million of renewals, bookings and client awards since May 2026, unveiled its Autonomous Security Force at the GSX 2026 show and began Manufacturing its K7 robot for fourth-quarter 2026 deployment. It gave no numeric guidance, citing expected margin improvement and operating leverage. The quote of USD 0.4012 is far below USD 1, so a Nasdaq minimum bid notice is a risk, though none was found. The pre-market move is the figure of record only for this session and may reverse. Investors will compare the fourth-quarter delivery of K7 robots with the company's cost base.

Where Things Stand

The decline follows a results release that mixed fast growth with heavy losses. Knightscope (NASDAQ:KSCP) was down 9.82% at USD 0.4012 in pre-market after revenue rose 177% to USD 8.7 million but the net loss reached USD 11.8 million and cash stood at USD 6.8 million. A 5% gross margin and going-concern risk language raise the odds of dilutive financing, which is the likeliest reason for selling. Next markers are further at-the-market issuance, K7 deployments in the fourth quarter and any listing notice. A weak extended-hours quote can reverse once trading opens.