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.

Company gains major interest from multinational strategic investors to advance Rekor state-of-the-art data and AI tech via potential investments 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, today announced it has executed a term sheet providing for the issuance of up to $15 million in notes ("the Notes") to solidify its cash position and to accelerate its growth plan. Proceeds will provide necessary funding for Company's execution plan across its public safety, urban mobility, and transportation management business.

Rekor Announces Financing to Solidify Cash Position and Accelerate Business Growth and Technology Development

COLUMBIA, MD / ACCESSWIRE / December 8, 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 closing of the sale of the Company's Automated Traffic Safety Enforcement ("ATSE") business to Altumint, an industry-leading provider of automated traffic law enforcement, traffic monitoring, and forensic investigations. The sale is the result of the Company's previously announced strategic shift towards prioritizing its core data services businesses.

Rekor Finalizes Sale of Non-Core Business Unit

Rekor Systems, Inc. (NASDAQ:REKR ) Q3 2022 Earnings Conference Call November 14, 2022 4:30 PM ET Company Participants Eyal Hen - Chief Financial Officer David Desharnais - President & Chief Operating Officer Robert Berman - Chief Executive Officer Charlie Degliomini - Executive Vice President, Government Relations & Corporate Communications Conference Call Participants Zach Cummins - B. Riley Operator Good afternoon, ladies and gentlemen, and welcome to today's Rekor Systems, Inc. Conference Call.

Rekor Systems, Inc. (REKR) Q3 2022 Earnings Call Transcript

Highlights: Revenue increased 184% to $7.4 million for the three months ended September 30, 2022, compared to $2.6 million for the three months ended September 30, 2021 Revenue increased 38% to $15.4 million for the nine months ended September 30, 2022, compared to $11.1 million for the nine months ended September 30, 2021 Recurring revenue increased to 65% and 56% of total revenue for the three and nine months ended September 30, 2022, respectively, as compared to 47% and 28% for the three and nine months ended September 30, 2021 COLUMBIA, MD / ACCESSWIRE / November 14, 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 more efficient cities around the world through intelligent infrastructure, announced its unaudited financial results for the three and nine months ended September 30, 2022. Management Commentary "We continue to demonstrate noteworthy growth in recurring revenue under our new sales model for the three and nine months ended September 30, 2022, compared to the same periods in 2021, as well as continued quarter-over-quarter growth since September 30, 2021," said Eyal Hen, Chief Financial Officer, Rekor.

Rekor Systems Inc. Reports Third Quarter 2022 Financial Results

COLUMBIA, MD / ACCESSWIRE / November 3, 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 that its financial results for the third quarter of 2022 will be released on Monday, November 14, 2022, 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 2022 Results

Program funded by FTA grant and COTA unifies traffic and transit data using artificial intelligence to better serve customers across 13 counties COLUMBIA, MD / ACCESSWIRE / October 4, 2022 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter and greener cities around the world through intelligent infrastructure, together with the Central Ohio Transit Authority (COTA), today announced the launch of a new Integrated Mobility Innovation (IMI) Transit Program to improve roadway safety, traffic management, and transit services across 13 Ohio counties. In March 2020, COTA was awarded the Federal Transit Administration's IMI Demonstration Research grant to improve public safety, regional collaboration, and the customer experience.

Rekor and COTA Kick Off $2.5 Million Program to Improve Traffic and Transit Services in Central Ohio

Rekor Continues to Raise the Bar for the Industry in Roadway Intelligence and Digital Infrastructure Technology and Expertise - Achieving the Highest Levels of Recognition and Accreditation COLUMBIA, MD / ACCESSWIRE / September 22, 2022 / Rekor Systems, Inc, (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter, greener, and more efficient cities around the world through intelligent infrastructure, announced today that it has achieved the Amazon Web Services (AWS) Smart City Competency in the Software: Smart Urban Transportation category. This designation recognizes Rekor as an AWS Partner that helps customers and the partner community build and deploy innovative Smart City solutions.

Rekor Achieves AWS Smart City Competency

Blyncsy, HAAS Alert, Mobileye and PredictHQ Join the Rekor Partner Network. COLUMBIA, MD / ACCESSWIRE / September 21, 2022 / 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 the introduction of its Rekor Partner Network ("RPN").

Rekor Announces Rekor Partner Network to Accelerate Safer, Smarter, Greener Roadways

Rekor Showcases Transformational Safer Approach to Roadway Traffic Studies at ITS World Congress 2022 COLUMBIA, MD / ACCESSWIRE / September 19, 2022 / Rekor Systems, Inc, (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter and more efficient cities around the world through intelligent infrastructure, today announced the unveiling of its new non-intrusive AI-driven traffic data collection system. The system uses state-of-the-art computer vision and machine learning to deliver the utmost in safety, accuracy, performance, and simplicity for federally mandated vehicle classification data and more and will be demonstrated at ITS World Congress 2022.

Rekor Unveils Breakthrough AI-based Traffic Analytics System for Faster, Smarter, and Safer Traffic Studies

COLUMBIA, MD / ACCESSWIRE / September 13, 2022 / Rekor Systems, Inc, (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter and more efficient cities around the world through intelligent infrastructure, today announced that its President David Desharnais will be discussing the Company's solutions at Intelligent Transportation Systems (ITS) World Congress. He will be speaking at a digital infrastructure session to be held on Sunday, September 18th from 1:00-4:30 pm at the Los Angeles Convention Center Exhibit Floor.

Rekor President David Desharnais to Discuss Rekor's Technology and Digital Infrastructure at ITS World Congress

COLUMBIA, MD / ACCESSWIRE / August 31, 2022 / Rekor Systems, Inc, (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter and more efficient cities around the world through intelligent infrastructure, today announced that it has been awarded a multiyear contract to digitize parking permitting for Augusta University Health System ("AU Health") in Augusta, Georgia. AU Health provides comprehensive routine-to-complex care at the AU Medical Center, which houses the region's only Level 1 trauma center, as well as at Children's Hospital of Georgia, Georgia Cancer Center, historic Roosevelt Warm Springs Rehabilitation and Specialty Hospitals, Georgia War Veterans Nursing Home, and more than one hundred primary and specialty care clinics across the state.

Rekor Announces Parking Contract with Augusta University Health

Rekor Solutions to Help Texas Improve Traffic Congestion and Roadway Safety COLUMBIA, MD / ACCESSWIRE / August 30, 2022 / Rekor Systems, Inc, (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter and more efficient cities around the world through intelligent infrastructure, today announced that it has been selected for the launch of a multi-year program with the Texas Department of Transportation ("TxDOT") for a deployment of its traffic management technology to improve incident response time and overall roadway safety. The contract calls for the implementation of Rekor's cloud-based roadway intelligence platform at the TxDOT Combined Transportation, Emergency, and Communications Center (CTECC) facilities.

Texas Department of Transportation Standardizes on Rekor Systems' Cloud-based AI-driven Roadway Intelligence Platform

Rekor Systems, Inc. (NASDAQ:REKR ) Q2 2022 Earnings Conference Call August 11, 2022 4:30 PM ET Company Participants Eyal Hen - CFO, Principal Financial & Accounting Officer Robert Berman - Executive Chairman & CEO Conference Call Participants Michael Latimore - Northland Capital Markets Zachary Cummins - B. Riley Securities KC Ambrecht - Shay Capital Operator Good afternoon, ladies and gentlemen, and welcome to today's Rekor Systems, Inc. conference call.

Rekor Systems, Inc. (REKR) CEO Robert Berman on Q2 2022 Results - Earnings Call Transcript

Highlights: Company completed the acquisition of Southern Traffic Services ("STS"), a traffic engineering firm specializing in traffic data collection Recurring revenue increased to 48% of total revenue for the three and six months ended June 30, 2022, respectively, as compared to $21% for the three and six months ended June 30, 2021 Performance obligation increased to $31.9 million as of June 30, 2022, compared to $22.6 million as of December 31, 2021 Rekor Systems Intelligent Infrastructure Solution was selected by Missouri Department Of Transportation ("MoDOT") to improve Highway Congestion and Reduce Traffic Fatalities Raised $20.4 million in net cash proceeds during the first half of 2022 with the At-The-Market 2022 Sales Agreement COLUMBIA, MD / ACCESSWIRE / August 11, 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 more efficient cities around the world through intelligent infrastructure, announced its unaudited financial results for the three and six months ended June 30, 2022. Management Commentary "We continue to demonstrate significant growth in recurring revenue under our new sales model for the three and six months ended June 30, 2022, compared to the same periods in 2021, as well as continued quarter over quarter growth since September 30, 2021," said Eyal Hen, Chief Financial Officer, Rekor.

Rekor Systems Inc. Reports Second Quarter 2022 Financial Results

COLUMBIA, MD / ACCESSWIRE / August 1, 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 more efficient cities through intelligent infrastructure, announced today announced that Robert A. Berman, CEO and Chair, Rekor will be attending and presenting at the Q3 Virtual Investor Summit.

Rekor Systems to Present at Investor Summit Group's Q3 Virtual Conference

COLUMBIA, MD / ACCESSWIRE / July 28, 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 more efficient cities through intelligent infrastructure, announced today that its financial results for the second quarter of 2022 will be released on Thursday, August 11, 2022, after market close. On the same day, the company will host its earnings conference call at 4:30 p.m.

Rekor Systems to Announce Second Quarter Fiscal 2022 Results

Five-year multimillion dollar award represents first of its kind contract for safety driven, non-motorized roadway data in the State Contract utilizes Rekor's technology to detect bicycles and pedestrians in support of FDOT's goal of improving safety and mobility for all road and trail users COLUMBIA, MD / ACCESSWIRE / July 26, 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 more efficient cities through intelligent infrastructure, today announced that it has been awarded a contract with the Florida Department of Transportation (FDOT) Office of Transportation Data and Analytics (TDA). This contract covers hardware, software and data collection services for the State's Non-Motorized Count Station Installation and Maintenance Services over a five-year term.

Rekor Systems Awarded Contract by Florida Department of Transportation (FDOT)

Company To Discuss Recent Acquisition of Southern Traffic Services COLUMBIA, MD / ACCESSWIRE / July 11, 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 more efficient cities around the world through intelligent infrastructure, announced a special investor conference call on Thursday, July 14, 2022, at 4:00 p.m. Eastern. The Company will discuss the recent acquisition of Southern Traffic Services (STS) with analysts and investors.

Rekor Systems to Host Special Investor Conference Call on Thursday July 14, 2022

Combined company now offers the broadest set of AI- and data-driven solutions for urban mobility, traffic management and public safety Acquisition expands Rekor's geographic footprint and public sector customer base COLUMBIA, MD / ACCESSWIRE / June 21, 2022 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter, and more efficient cities around the world through intelligent infrastructure, announced that it has closed its acquisition of Southern Traffic Services ("STS"). The acquisition is valued at up to $14.5 million, including earnouts, the final amount of which will be based on the achievement of certain performance metrics.

Rekor Systems Completes Acquisition of Southern Traffic Services (STS)

Rekor One Traffic Management Solution Serves as Real-time Intelligence Foundation for Netivei Israel to Improve Highway Safety, Congestion, and Cross-agency Collaboration COLUMBIA, MD / ACCESSWIRE / June 16, 2022 / Rekor Systems, Inc , Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to build safer, smarter, and more efficient cities around the world through intelligent infrastructure, today announced its joint program launched by Netivei Israel, the national transport infrastructure company of Israel, in collaboration with Israel Living Lab Consortium and the Israel Innovation Authority. The program designates the Rekor One™ Traffic Management solution as the platform to drive data accessibility and improve traffic congestion and road safety on Israel's main coastal highway.

Rekor Systems Platform Selected by Israel National Infrastructure Company for AI-driven Intelligent Infrastructure on Israel Highways

Rekor's unique ability to combine real-time roadside sensor data with Connected Vehicle ("CV") data provides "first-of-its-kind" data insights to support safer roadways COLUMBIA, MD / ACCESSWIRE / June 9, 2022 / Rekor Systems, Inc , (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter and more efficient cities around the world through intelligent infrastructure, today announced that Rekor has been selected for the launch of a multi-year program with the Missouri Department of Transportation ("MoDOT") to not only make roads less congested and safer, but to help rid the state of severe traffic crashes - all key objectives of Missouri's Show-Me Zero Strategic Highway Safety Plan 2021-2025. The program is a result of a $719,000 grant from MoDOT's Advanced Transportation and Congestion Management Technologies Deployment Program ("ATCMTD").

Missouri DOT Selects Rekor Systems' Advanced AI-Driven Solutions to Improve Highway Congestion and Reduce Traffic Fatalities

COLUMBIA, MD / ACCESSWIRE / June 7, 2022 / Rekor Systems, Inc , (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter and more efficient cities around the world through intelligent infrastructure, today announced that it was invited to present at the Cantor Fitzgerald ("Cantor Fitzgerald") Technology ESG Conference, to be held at the Palo Alto Four Seasons, from June 27 through June 29, 2022. "From ideation to now being an established player, Rekor has a built a strong foundation and is poised for rapid expansion and scale.

Rekor Systems to Present at Cantor Fitzgerald Technology ESG Conference, June 27-29, 2022, in Palo Alto, CA

Rekor Systems, Inc. (NASDAQ:REKR ) Q1 2022 Earnings Conference Call May 16, 2022 4:30 PM ET Company Participants Robert Berman - President and CEO Eyal Hen - CFO David Desharnais - President Conference Call Participants Zach Cummins - B. Riley Securities Jaeson Schmidt - Lake Street Operator Good afternoon, ladies and gentlemen, and welcome to today's Rekor Systems Inc. Conference Call.

Rekor Systems, Inc. (REKR) CEO Robert Berman on Q1 2022 Results - Earnings Call Transcript

Highlights: Company announces Intent to acquire Southern Traffic Services (STS), a traffic engineering firm specializing in traffic data collection Recurring revenue increased 96% to $1.7 million for the three months ended March 31, 2022, as compared to $0.9 million for the three months ended March 31, 2021. Revenue for the first quarter of 2022 were $3.6 million, a decrease from $4.2 million in the same quarter of 2021 Rekor Systems Intelligent Infrastructure Solution was selected for Amazon Web Services Partner Network and Public Sector Partner Program Raised $3.1 million in net cash proceeds during the first quarter 2022 with the At-The-Market 2022 Sales Agreement COLUMBIA, MD / ACCESSWIRE / May 16, 2022 / Rekor Systems, Inc , (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to make communities around the world safer, smarter and more efficient by providing actionable, data-driven insights through intelligent infrastructure, today announced its unaudited financial results for the three month period ended March 31, 2022.

Rekor Systems, Inc. Reports First Quarter 2022 Financial Results; Announces Intent to Acquire Southern Traffic Services (STS)

Acquisition will expand Rekor's geographic footprint by adding more than 60,000 lanes of additional coverage over hundreds of thousands of square miles throughout the United States COLUMBIA, MD / ACCESSWIRE / May 16, 2022 / Rekor Systems, Inc , (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company with a mission to provide data-driven insights that build safer, smarter and more efficient cities around the world through intelligent infrastructure, today announced that it has entered into a Letter of Intent ("LOI") to acquire Southern Traffic Services ("STS"). STS is a recognized leader in traffic engineering and advanced traffic data collection technologies across public and private agencies.

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