Rekor Systems Inc

Rekor Systems, Inc. is a holding company, which engages in the provision of real-time roadway, customer, and public safety intelligence solutions through its subsidiaries. It specializes in intelligent roadway systems developed to take advantage of recent developments in artificial intelligence. The company was founded by James K. McCarthy on February 6, 2017 and is headquartered in Columbia, MD.

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Rekor Systems reports revenue growth, eyes profitability by 2023

Rekor Systems Inc's shift to recurring revenue drove a substantial revenue increase in 2022.
Despite challenges like EBITDA losses and impairments, the company aims for profitability by 2023.
Strong growth opportunities exist in urban mobility, global expansion, and tailored technology solutions.
Efficiency measures and strategic investments position Rekor for future growth and market penetration.

Rekor Systems Inc reports stellar Q1 results and eyes profitability

Rekor Systems Inc delivered stellar Q1 2023 results, marked by significant revenue growth and enhanced financial stability.
The company's strategic focus on recurring revenue, cost management, and technology investments positions it well for future success.
With a clear path to profitability and a promising outlook on state projects, Rekor is poised for continued growth and market expansion.

Rekor Systems Inc reports stellar Q2 results and eyes growth

Rekor Systems Inc delivered exceptional Q2 2023 results, marked by significant revenue growth, improved operational efficiency, and strong financial performance.
While challenges like narrowing operating losses persist, the company's focus on recurring revenue and prudent expense management positions it well for future growth.
With increased contracts secured and a positive financial outlook, Rekor has opportunities to capitalize on its strengths and drive further shareholder value.

Rekor Systems reports record Q3 revenue and eyes state contracts

Rekor Systems demonstrated strong financial performance in Q3 2023, with revenue growth, margin improvement, and reduced operating losses.
The company's focus on urban mobility and unique technology capabilities present competitive strengths, but funding challenges and profitability targets remain key concerns.
Opportunities lie in securing state contracts, doubling revenue, and capitalizing on the market demand for digital roadway solutions through strategic growth initiatives.

Rekor Systems reports robust 2023 performance and eyes revenue growth

Rekor Systems demonstrated strong financial performance and operational improvements in 2023, supported by liquidity enhancements through various financial transactions.
The company's focus on technological advancements, market opportunities, and deployment expansion positions them for future growth and margin improvement.
While challenges exist in addressing going concern language and balancing growth with profitability, Rekor's emphasis on efficiency and adaptability presents opportunities for sustainable revenue growth.

Rekor Systems reports robust revenue growth but faces margin pressure

Rekor Systems reported strong revenue growth in Q1 2024 but faced margin pressure and internal control issues. The company's strategic acquisitions and focus on recurring revenue streams present opportunities for future growth.

Rekor Systems Inc reports robust Q2 growth and strategic partnerships

Rekor Systems Inc's Q2 performance reflects strong revenue growth, improved financial metrics, and a focus on strategic partnerships and market expansion.
While facing challenges such as weather interruptions and profitability targets, the company remains optimistic about future profitability and growth prospects.
With a solid foundation in government contracts, customer traction, and key partnerships, Rekor is poised to capitalize on opportunities for higher margins and market expansion.

Rekor Systems Inc. reports revenue growth and strategic partnerships in Q3 2024

Rekor Systems Inc.'s Q3 2024 performance showcased revenue growth, strategic partnerships, and progress in product deployments. While facing challenges in cost optimization and margin fluctuations, the company is focused on achieving positive cash flow by 2025. Opportunities lie in leveraging partnerships, expanding deployments, and capitalizing on momentum in key segments.

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Rekor Systems, Inc. is a technology company, which engages in the provision of roadway intelligence and data-driven mobility insights. It offers comprehensive, continuous, and real-time roadway intelligence by leveraging artificial intelligence (AI), machine learning, and holistic data to support the intelligent infrastructure for smart mobility. The company was founded by James K. McCarthy on February 6, 2017 and is headquartered in Columbia, MD.

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COLUMBIA, MD / ACCESSWIRE / January 18, 2024 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced that its Public Safety and Licensing Division has recently secured three public safety and licensing contracts totaling approximately $3 million in total contract value. PAVE Mobility ("PAVE") is a parking technology company that provides various parking solutions to businesses and organizations.

Rekor Systems Secures Over $3 Million in Public Safety and Licensing Contracts

Philadelphia Roadway Intelligence Test Environment Transitions into Multiyear Contract COLUMBIA, MD / ACCESSWIRE / January 16, 2024 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced its Urban Mobility division has achieved a significant milestone in its partnership with the Philadelphia Industrial Development Corporation (PIDC). What began as a layer of digital within Philadelphia, the sixth largest city in America, has evolved into a formalized, multiyear contract, expanding the collaboration between the two organizations.

Rekor Partners with Philadelphia Industrial Development Corporation to Transform Philadelphia Navy Yard Pilot Into Digital Infrastructure Hub for Roadways

2024 Annual Meeting of Stockholders be held on April 18, 2024 COLUMBIA, MD / ACCESSWIRE / January 10, 2024 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced that the Company's 2024 Annual Meeting of Stockholders ("2024 Annual Meeting") will be held on Thursday, April 18, 2024. Additional information regarding the Company's 2024 Annual Meeting, including the time, location and agenda for the 2024 Annual Meeting, will be disclosed in the Company's Definitive Proxy Statement to be sent to stockholders entitled to notice of and to vote at the 2024 Annual Meeting.

Rekor Systems Announces Date for 2024 Annual Meeting of Stockholders

First-of-its-Kind Solution in the United States Deployed on New York City's Brooklyn Queens Expressway as Prototype for Protecting Nation's Overburdened Bridges & Roadways COLUMBIA, MD / ACCESSWIRE / January 8, 2024 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology using AI and machine learning, today announced its Urban Mobility division has unveiled a strategic collaboration with Kistler, the world's foremost supplier of quartz weigh-in-motion ("WIM") sensors and electronics, known for providing precise and reliable solutions for vehicle weight management, bridge structural health monitoring, and safety applications. This strategic alliance marks a significant leap forward in real-time and predictive roadway intelligence, squarely addressing the critical issue of bridge and roadway infrastructure deterioration caused by dangerous, overweight vehicles.

Rekor Systems and Kistler Partner to Deliver Breakthrough Roadway Intelligence to Protect Bridges & Roadway Infrastructure Against Dangerous Overweight Vehicles

Continues Transformation of Traffic Management in the Austin District COLUMBIA, MD / ACCESSWIRE / January 4, 2024 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced that its Transportation Management division has expanded collaboration with the Texas Department of Transportation (TxDOT). This contract leverages Rekor's cutting-edge AI-powered traffic management platform, Rekor Command™, to enhance traffic management and safety in the TxDOT Austin District, including Austin and the surrounding areas.

Rekor Announces $2.1 Million Contract Expansion with Texas Department of Transportation

Acquisition expands geographic base and accelerates technology distribution Company to host a special investor conference call on January 9, 2024, to discuss the acquisition COLUMBIA, MD / ACCESSWIRE / January 3, 2024 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced it has completed the acquisition of All Traffic Data Services, LLC (ATD), further solidifying its expertise in transportation data collection and analytics. ATD collaborates closely with numerous traffic engineering firms, metropolitan planning organizations, municipalities, and state Departments of Transportation, where Rekor currently lacks a sales presence.

Rekor Systems Strengthens Position in Urban Mobility with Acquisition of All Traffic Data Services, LLC

Company to host a special investor conference call on December 14, 2023 to discuss its Revenue Sharing Notes program COLUMBIA, MD / ACCESSWIRE / December 13, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced that it has completed the sale of a registered offering of $15 million in aggregate principal amount of its 13.25% Series A Prime Revenue Sharing Notes due December 15, 2026 (the "Series A Notes"). Proceeds are expected to be used for expansion and working capital purposes.

Rekor Systems Announces Sale of $15 Million of Revenue Sharing Notes Due December 15, 2026 Priced at 13.25%

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Rekor Systems, Inc. (NASDAQ:REKR ) Q3 2023 Earnings Conference Call November 14, 2023 4:30 AM ET Company Participants Eyal Hen - Chief Financial Officer David Desharnais - President and COO Robert Berman - Chairman and CEO Conference Call Participants Mike Latimore - Northland Capital Markets Zach Cummins - B. Riley Securities KC Ambrecht - Shay Capital Operator Good morning, ladies and gentlemen.

Rekor Systems, Inc. (REKR) Q3 2023 Earnings Call Transcript

Company continues noteworthy quarter-over-quarter revenue growth, setting itself apart in the AI sector with a 268% Compound Annual Growth Rate (CAGR) Highlights: Record Q3 2023 gross revenue of $9.1 million - an increase of 35% as compared to $6.8 million in Q3 2022 Performance obligations increased 41% to $30.2 million as of September 30, 2023, as compared to $21.4 million as of December 31, 2022 Total contract value signed during the third quarter was $8.4 million, an increase of 74% from $4.8 million in the same quarter of 2022 Improved Adjusted EBITDA from a loss of $10.7 million for Q3 2022 to a loss of $6.6 million for Q3 2023 COLUMBIA, MD / ACCESSWIRE / November 14, 2023 / Rekor Systems, Inc (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology using AI and machine learning, today announced its financial results for the nine and three months ended September 30, 2023. "In the third quarter of 2023, we have maintained our impressive revenue growth trend while simultaneously reducing our losses and cash burn.

Rekor Systems, Inc. Reports Record Third Quarter 2023 Financial Results

Transportation Infrastructure and AI Tech Firms Join Forces to Help US Accelerate Safer, Smarter, More Sustainable Roadways COLUMBIA, MD / ACCESSWIRE / October 30, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a leader in developing and implementing state-of-the-art roadway intelligence technology using AI and machine learning, today announced a multi-year strategic partnership with NextMove by Cintra ("NextMove"), the digital business venture of Ferrovial's highway division. The partnership aims to accelerate the connected vehicle and infrastructure ecosystem to create safer, more efficient, and sustainable transportation solutions.

Nextmove by Cintra and Rekor Forge Multi-Year Strategic Partnership for Next Generation Connected Vehicle Solutions

Company will host earnings call on Tuesday, November 14, 2023 COLUMBIA, MD / ACCESSWIRE / October 23, 2023 / Rekor Systems, Inc (NASDAQ:REKR) ("Rekor" or the "Company"), a global leader in the development of innovative solutions that are making the world's roadways safer, greener, and more efficient, today announced that its financial results for the third quarter of 2023 will be released on Tuesday, November 14, 2023, after market close. On the same day, the Company will host its earnings conference call at 4:30 p.m.

Rekor Systems to Announce Third Quarter Fiscal 2023 Results

Global Technology Leaders Deepen Relationship to Simplify Adoption and Deployment of State-of-the-Art AI Solutions for Government Agencies and Commercial Entities COLUMBIA, MD / ACCESSWIRE / October 3, 2023 / Rekor Systems, Inc. (NASDAQ:REKR), a trusted global authority in developing and delivering roadway intelligence utilizing state-of-the-art artificial intelligence and machine learning (AI/ML), today announced that it has joined the Amazon Web Services (AWS) Independent Software Vendor (ISV) Accelerate Program, a co-sell program for AWS Partners who provide proven and well-architected Software-as-a-Service (SaaS) solutions that run on or integrate with AWS. The program helps AWS Partners drive new business by directly connecting participating ISVs with the AWS Sales organization.

Rekor Joins AWS ISV Accelerate Program

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Out-of-the-box secure SaaS AI-driven traffic management solution in AWS Marketplace simplifies and expedites procurement for government agencies to be at the forefront of digital infrastructure and roadway intelligence COLUMBIA, MD / ACCESSWIRE / September 13, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) (the "Company"), a trusted global authority in developing and delivering roadway intelligence using state-of-the-art artificial intelligence and machine learning (AI/ML), today announced that its Rekor Command™ Platform is now available in AWS Marketplace. AWS Marketplace is a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on Amazon Web Services (AWS).

Breakthrough Rekor Command(TM) Platform for AI-based Traffic Management Now Available in AWS Marketplace

COLUMBIA, MD / ACCESSWIRE / September 6, 2023 / Rekor Systems (NASDAQ:REKR), an innovator in roadway intelligence, is redefining transportation safety norms with a trailblazing application of Artificial Intelligence (AI) technology. The company is best known for its AI-driven digital infrastructure operating system, Rekor OneTM.

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Rekor Systems, Inc. (NASDAQ:REKR ) Q2 2023 Results Conference Call August 14, 2023 4:30 AM ET Company Participants Eyal Hen - Chief Financial Officer David Desharnais - will President and Chief Operating Officer Robert Berman - President and Chief Executive Officer Conference Call Participants Michael Lana - Northland Capital Markets Zach Cummins - B. Riley Securities Michael Latimore - Northland Capital Markets Operator Good afternoon, ladies and gentlemen, and welcome to today's Rekor Systems Inc. Conference Call.

Rekor Systems, Inc. (REKR) Q2 2023 Earnings Call Transcript

Company Continues Momentum with Consecutive Quarter-over-Quarter Revenue Growth, Solidifying Its Unique Position in the AI Sector Highlights: Q2 2023 gross revenue increased 132% to $8.6 million as compared to $3.7 million in Q2 2022 Recurring revenue increased 178% to $5.8 million in Q2 2023 as compared to $2.1 million in Q2 2022 Performance obligations increased 48% to $31.8 million as of June 30, 2023, as compared to $21.4 million as of December 31, 2022 Total contract value signed during the second quarter was $17.6 million, an increase of 31% from $12.1 million in the first quarter of 2023 and an increase from $3.5 million or 411% over the same quarter last year Improved Adjusted EBITDA from a loss of $12.0 million for Q2 2022 to a loss of $7.2 million for Q2 2023 COLUMBIA, MD / ACCESSWIRE / August 14, 2023 / Rekor Systems, Inc (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide insights that build safer, smarter, and more efficient cities around the world through intelligent infrastructure, announced its financial results for the six and three months ended June 30, 2023. "In the second quarter of 2023, not only did we successfully reduce our cash burn to approximately $5.5 million without one-time payments, but we also sustained our impressive revenue growth trend.

News for Rekor Systems Inc Stock (REKR)