The internet boom in the 1990s, with the genesis of application service providers (“ASP”), set the stage for the Software-as-a-Service (“SaaS”) model that now has found its way into nearly every industry. In a SaaS model, providers offer their technology over a set period of time, effectively locking in recurring revenue and a higher profit rather than selling the product outright. Since then, the “as-a-Service” model has been expanded into new verticals in a global economy now eager to accept the process. Because of large margins, Wall Street typically places high valuations on companies that employ the subscription “as-a-Service” model, especially when they have solved a problem and established strong market demand. Already disrupting the $500 billion security industry with its fully autonomous security robots, Knightscope Inc. (Profile) is establishing a new paradigm with its Machine-as-a-Service (“MaaS”) business model. The company already calls the federal government, public institutions and Fortune 1000 companies as clients as it employs a cost-effective subscription structure that is attractive to clients to augment traditional security systems and law enforcement functions. Others using similar business models that performed exceptionally well in 2020 include Axon Enterprise Inc. (NASDAQ: AXON), Intuitive Surgical Inc. (NASDAQ: ISRG), Peloton Interactive Inc. (NASDAQ: PTON) and Roku Inc. (NASDAQ: ROKU).
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Knightscope is an advanced security technology company based in Silicon Valley that builds fully autonomous security robots (“ASRs”) that deter, detect and report. The company’s long-term ambition is to make the United States of America the safest country in the world. For more information, visit the company’s website at www.Knightscope.com.
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