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.

COLUMBIA , MD / ACCESSWIRE / April 21, 2023 / In 2021, the American Society of Civil Engineers gave the United States a C- rating on its Infrastructure Report Card. While the grade marked an improvement from the D+ received in 2017, crumbling public roads, aging bridges and deteriorating water mains were the primary causes for such a poor rating.

Rekor Is Successfully Digitizing American Roadways With Its Advanced AI-Driven Digital Infrastructure Operating System

COLUMBIA, MD / ACCESSWIRE / April 19, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) (the "Company"), a global AI technology company, a leader in providing the intelligent infrastructure solutions that are making the world's roadways safer, greener and more efficient, today announced that the Company has been selected as a preferred vendor for both the South Carolina Department of Transportation ("SCDOT") and the Florida Department of Transportation ("FDOT"). The Company will provide its Class, Count & Speed Application as part of the Rekor Discover™ platform along with its non-intrusive Rekor Edge Flex™ traffic data collection systems to gather traffic data throughout both states.

Rekor Awarded $14,145,000 in New Multiyear Contracts for State-Wide Traffic Count and Classification Studies for South Carolina and Florida DOTs

Contract valued at $648,000 brings total product and licensing contracts value secured within the last 60 Days to $6.90 Million COLUMBIA, MD / ACCESSWIRE / March 30, 2023 / Rekor Systems, Inc. (NASDAQ:REKR), 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, today announced the sale of Rekor Edge Pro™ systems and Rekor Scout™ platform licenses to a large parking operator that has over 15,000 customer locations across all major U.S. cities and Canada. The contract is valued at $648,000.

Use of Rekor Systems' Best-In-Class Vehicle Recognition Technology In An Expansive Parking Ecosystem Connects Parking To Mobility

Rekor Systems, Inc. (NASDAQ:REKR ) Q4 2022 Earnings Conference Call March 27, 2023 4:30 PM ET Company Participants Eyal Hen - CFO David Desharnais - President and COO Robert Berman - CEO Conference Call Participants Zach Cummins - B. Riley Securities Operator Good afternoon, ladies and gentlemen, and welcome to today's Rekor Systems Inc. Conference Call.

Rekor Systems, Inc. (REKR) Q4 2022 Earnings Call Transcript

COLUMBIA, MD / ACCESSWIRE / March 27, 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, today announced that the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules of an aggregate of 6,872,853 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 6,872,853 shares of common stock, at an effective combined purchase price of $1.455 per share (or common stock equivalent) and associated warrant. The warrants are exercisable immediately upon issuance at an exercise price of $1.60 per share and will expire five years following the issuance date.

Rekor Announces Closing of $10 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Highlights: 2022 gross revenue increased 72% to $19.9 million ($22.3 million with the discontinued operations) as compared to $11.6 million ($14.3 million with discontinued operations) in 2021 Closed $15 million Senior Secured Notes in January 2023 Sold our Automatic Traffic Safety Enforcement ("ATSE") business unit Acquired Southern Trafic Services ("STS") in June 2022, expanding our footprint, product offering, and customer base Recurring revenue increased 182% to $13.1 million in 2022 as compared to $4.6 million in 2021 Performance obligations increased 45% to $21.4 million in 2022 as compared to $14.8 million in 2021 COLUMBIA, MD / ACCESSWIRE / March 27, 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 year ended December 31, 2022. "During the last six months of 2022, we focused on streamlining operations and finding efficiencies across our general and administrative, sales and marketing, research and development and travel expenses.

Rekor Systems, Inc. Reports 2022 Financial Results

Since the inception of Oklahoma's Uninsured Vehicle Enforcement Diversion Program, more than 83,000 citizens have enrolled in the program Over 55,000 citizens have agreed to acquire insurance and are no longer at risk of a court appearance, prosecution, or roadside interaction with law enforcement Self-funded program generates approximately $15 million in diversion fees COLUMBIA, MD / ACCESSWIRE / March 27, 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, today announced key metrics relating to the success of the Oklahoma Uninsured Vehicle Enforcement Diversion (UVED) Program in reducing uninsured driving in the state by approximately 100,000 vehicles. As of the first quarter of 2023, the self-funded program has generated approximately $15 million in diversion program fees since its inception.

Rekor Systems Announces Its Roadway Intelligence AI Reduces Uninsured Driving Up to 40% in Oklahoma

Company acquires its eighth casino customer COLUMBIA, MD / ACCESSWIRE / March 24, 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, today announced that the Palms Casino Resort ("Palms") has purchased a multi-year contract for Rekor's AI-powered platform for intelligence-led public safety, Rekor Scout™ as well as a number of Edge Max systems, Rekor's industry-leading vehicle and license plate recognition systems, as a key part of the resort casino's new plans to enhance property security as well as guest safety while also better understanding vehicle traffic. Palms is Rekor's eighth casino customer and joins a growing list of Rekor customers in the gaming industry, including leading casino operators in Nevada, New York, and California.

Las Vegas Palms Casino Selects Rekor Systems Roadway Intelligence Solution

COLUMBIA, MD / ACCESSWIRE / March 24, 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, today announced that it has entered into a definitive agreement for the issuance and sale in a registered direct offering priced at-the-market under Nasdaq rules of an aggregate of 6,872,853 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 6,872,853 shares of common stock, at an effective combined purchase price of $1.455 per share (or common stock equivalent) and associated warrant. The warrants will be exercisable immediately upon issuance at an exercise price of $1.60 per share and will expire five years following the issuance date.

Rekor Announces $10 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

COLUMBIA, MD / ACCESSWIRE / March 22, 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, today announced that the Company filed a United States Securities and Exchange Commission ("SEC") Form 8k disclosing details of the settlement of previously disclosed litigation. The SEC Form 8k can be found here: https://www.rekor.ai/sec-filings and at https://www.sec.gov/edgar/browse/?CIK=1697851&owner=exclude About Rekor Systems, Inc. Rekor Systems, Inc. (NASDAQ: REKR) is a trusted global authority on intelligent infrastructure providing innovative solutions that drive the world to be safer, smarter, and greener.

Rekor Announces the Settlement of Previously Disclosed Litigation

RekorOne™ AI Technology Platform Becomes Linchpin to the Connected Vehicle Ecosystem COLUMBIA, MD / ACCESSWIRE / March 21, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or "the Company"), a global AI technology company with a mission to create safer, more intelligent, and efficient cities worldwide through intelligent infrastructure, announces its collaboration with North Carolina Department of Transportation (NCDOT) on its recent SMART grant award to implement state-of-the-art technologies, including Rekor's unique connected vehicle ecosystem, for its Automated Actionable Road Anomalies (AARA) project. NCDOT's AARA project is designed to provide hands-free, eye-free alerts to a motorist about the imminent need to slow down or change lanes on freeways.

Rekor Systems Enables NCDOT with State-of-the-Art AI Technologies for Enhanced Road Safety via USDOT SMART Grant Award

COLUMBIA, MD / ACCESSWIRE / March 16, 2023 / Rekor Systems, Inc. (NASDAQ:REKR), 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, today announced that its e-commerce platform solution suite ("the platform") has crossed a major milestone, with over 1,200 active subscribers. The revenue from this software as a service business increased from $0.4 million in 2019 to approximately $1.7 million (unaudited) in 2022, representing a remarkable 280% growth in three years.

Rekor Systems' E-commerce Platform Surpasses 1,200 Active Subscribers and Achieves a 280% Surge in Revenue

Headline updated Rekor's AI-Based Roadway Intelligence Software and Systems are Chosen to Improve Traffic Management and Security Capabilities across 28 theme parks globally COLUMBIA, MD / ACCESSWIRE / March 14, 2023 / Rekor Systems, Inc. (NASDAQ:REKR), 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, today announced that an industry-leading theme and waterpark operator has chosen the Company's AI-based roadway intelligence software and systems to improve their traffic management and security capabilities. The approximately $ 1 million multi-year contract includes software licenses and systems.

CORRECTION BY SOURCE: Rekor Systems Secures Approximately $1 Million in New AI Roadway Intelligence Contracts with a World-Class Theme Park Operator

Rekor's AI-Based Roadway Intelligence Software and Systems are Chosen to Improve Traffic Management and Security Capabilities across 28 theme parks globally COLUMBIA, MD / ACCESSWIRE / March 14, 2023 / Rekor Systems, Inc. (NASDAQ:REKR), 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, today announced that an industry-leading theme and waterpark operator has chosen the Company's AI-based roadway intelligence software and systems to improve their traffic management and security capabilities. The approximately $ 1 million multi-year contract includes software licenses and systems.

Rekor Systems Secures Approximately $1 Million in New AI Roadway Intelligence Contracts with a World-Class Theme Park Operator and a Las Vegas Casino Company

Company continues expansion into vehicle class, count, and speed data COLUMBIA, MD / ACCESSWIRE / March 3, 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, today announced that it has been awarded a contract by the Florida Department of Transportation ("FDOT") to provide portable data services for the agency's roadway network in District 3 and the City of Tallahassee. Rekor will collect and report vehicle classification data, including count and spot speed information, data that the Federal Highway Administration requires.

Rekor Systems Awarded Contract by Florida Department of Transportation and the City of Tallahassee for Non-Intrusive Roadway Data Collection

Company will host earnings call on Monday, March 27, 2023 COLUMBIA, MD / ACCESSWIRE / March 1, 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, today announced today that its financial results for FY2022 will be released on Monday, March 27, 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 2022 Financial Results

Large US Cities Choose Integrated Solution to Boost Roadway Safety, Improve Transit Operations, and Public Safety. COLUMBIA, MD / ACCESSWIRE / February 22, 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, today announced that Safe Fleet has entered into a multiyear licensing agreement for Rekor's cutting-edge AI-powered vehicle identification and LPR technology for its next-generation violation detection platform for Transit Automated Bus Lane Enforcement (ABLE), Law Enforcement in-car Automated License Plate Recognition (ALPR) and School Bus Stop Arm Violation Detection.

Safe Fleet Powers Next-Generation Public Safety and Transit Platforms with Rekor's Leading AI-Based Vehicle Identification and LPR Technology

Drakewell Joins Rekor Partner Network, Fueling Rapidly Growing Industry Ecosystem Hub Turning Motorized and Non-Motorized Vehicle Movements into Actionable Traffic Insights and a Comprehensive View of Roadways COLUMBIA, MD / ACCESSWIRE / February 21, 2023 / Rekor Systems, Inc., (NASDAQ:REKR) ("Rekor "), 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, today announced that Drakewell Inc. has joined the rapidly growing Rekor Partner Network ("RPN"). The RPN has been designed to enable and simplify roadway data analysis for transportation agencies, corporations, and private firms through its state-of-the-art software suite.

Rekor and Drakewell Unite to Unleash Next-Generation AI-Based Traffic Analytics for Departments of Transportation

Company's AI Software to Strengthen National Security COLUMBIA, MD / ACCESSWIRE / February 8, 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 greener cities through intelligent infrastructure, announced today that the Company's AI-driven roadway intelligence software has been selected for a national security related application for a federal agency. The Company received a purchase order extension of more than $900,000 for one-year software subscription for the Company's AI roadway intelligence software.

Rekor Systems Selected for Federal Agency Deployment

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Company Solidifies Cash Position To Accelerate Business Growth and Technology Development Discussions continue with several large multinational strategic investors COLUMBIA, MD / ACCESSWIRE / January 23, 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 greener cities through intelligent infrastructure, today announced the initial closing of its previously announced private placement of Senior Secured Notes (the "Notes") in the aggregate principal amount of up to $15 million. This financing was led by the Company's Chairman and CEO, Robert A.

Rekor Announces Closing of Senior Secured Notes Financing

New Contract to underpin Public Safety in Mexico COLUMBIA, MD / ACCESSWIRE / January 12, 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 greener cities through intelligent infrastructure, announced today that a large state in Mexico has awarded a purchase order for the Company's vehicle recognition AI-driven roadway intelligence software and hardware solutions across 1800 locations. The State will use Rekor partner IBANOR SA de C.V.

One of Mexico's Largest States Selects Rekor Roadway Intelligence Solutions for State-wide Public Safety Deployment

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Agreements represent over $5 million in total contract value Company's vehicle classification AI begins proof of capability studies in New York State and South Carolina COLUMBIA, MD / ACCESSWIRE / January 4, 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 greener cities through intelligent infrastructure, announced today that the Pennsylvania Department of Transportation, Florida Department of Transportation ("FDOT"), Mississippi Department of Transportation, Alabama Department of Transportation and the Ohio Department of Transportation (have issued new or extended existing contracts and task orders with the Company that will feature the use of the Company's advanced non-intrusive technology. The collective total contract value is expected to be over $5 million.

Rekor Announces Multiple State Departments of Transportation Task Orders and Contract Extensions for Non-Intrusive Roadway Data Collection

COLUMBIA, MD / ACCESSWIRE / December 21, 2022 / 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 greener cities through intelligent infrastructure, announced today the termination of its "at-the-market" equity offering program (the "ATM Offering") with B. Riley as sales agent.

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