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.

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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.

Strategic academic collaboration integrates Tel Aviv University into the Rekor Partner Network, strengthening the global ecosystem of technology and solution providers revolutionizing roadway intelligence COLUMBIA, MD / ACCESSWIRE / August 3, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a trusted global authority in developing and delivering roadway intelligence using state-of-the-art AI and machine learning today announced a pioneering academic partnership with the Tel Aviv University Laboratory for AI, Machine Learning, Business & Data Analytics (LAMBDA). The collaboration will facilitate the exchange of knowledge, expertise, and resources between Rekor and Tel Aviv University's LAMBDA.

Rekor Systems and Tel Aviv University LAMBDA Partner to Push the Frontiers of AI-based Roadway Intelligence

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Distinguished nominees will bring important subject matter and analytical expertise in urban mobility and finance to the Board COLUMBIA, MD / ACCESSWIRE / July 27, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a trusted global authority in developing and delivering roadway intelligence using state-of-the-art AI and machine learning today announced that it will nominate two new directors for election at the Company's upcoming annual meeting of shareholders. The two new additions to its Board of directors are Professor Sanjay Sarma, President, CEO, and Dean of Asia School of Business ("ASB"), and Mr.

Rekor Systems Announces Nomination of Professor Sanjay Sarma and Tim Davenport As New Board Directors

COLUMBIA, MD / ACCESSWIRE / July 25, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a trusted global authority in developing and delivering roadway intelligence using state-of-the-art AI and machine learning, today announced that its financial results for the second quarter of 2023 will be announced on Monday, August 14, 2023, after market close. On Monday, August 14, 2023, the Company will also host its earnings conference call at 4:30 p.m.

Rekor Systems Moves Up Date for Second Quarter 2023 Financial Results Announcement, Now Scheduled for August 14, 2023, After Market Close

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COLUMBIA, MD / ACCESSWIRE / July 21, 2023 / The need for reform in the US transportation system is becoming more and more evident. While the Department of Transportation (DOT) has traditionally emphasized long-term visions and opportunities, there is now a recognition of the significance of taking practical first steps.

Rekor Systems and AWS Industry Report Unlocks The True Potential For US Transportation

COLUMBIA, MD / ACCESSWIRE / July 19, 2023 / Rekor Systems (NASDAQ:REKR), a leading company in the field of advanced technology solutions, announced that it expects to report remarkable growth in its revenue for the second quarter of 2023 . With an expected revenue of over $8.0 million, Rekor Systems is surpassing its Q2 2022 performance by 110%.

Rekor Systems Anticipates Over 110% Growth In Q2 2023 Revenue, Surpassing Projections As The Company Gears Up For More Growth

Company will announce the full financial results for the second quarter of 2023 on Tuesday, August 15, 2023, after market close COLUMBIA, MD / ACCESSWIRE / July 17, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or 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 it expects to report gross revenue exceeding $8.0 million for the second quarter of 2023 as compared to $3.7 million the same period last year, which represents growth of more than 110% and in excess of 30% growth over Q1 2023. The Company will announce the full financial results for the second quarter of 2023 on Tuesday, August 15, 2023, after market close.

Rekor Systems To Deliver Record Q2 2023 Revenue of Over $8.0 Million, Marking Exceptional Growth of More Than 110% vs. Q2 2022 and An Increase in Excess of 30% vs.

COLUMBIA, MD / ACCESSWIRE / July 13, 2023 / Rekor Systems (NASDAQ:REKR), an innovator in roadway intelligence, is redefining transportation safety norms with a trailblazing application of Artificial Intelligence (AI) technology. Rekor is operating a transformative program, the Oklahoma Uninsured Vehicle Enforcement Diversion (UVED) Program.

Rekor's Multi-mission AI Technology Revolutionizes Roadway Safety, Reducing Uninsured Motorist Incidents and Bias in Traffic Enforcement

COLUMBIA, MD / ACCESSWIRE / June 27, 2023 / - Technology company Rekor (NASDAQ:REKR) is changing the landscape of traffic data collection and analysis. Rekor collects and connects mobility data to deliver AI roadway intelligence, laying the foundation for a digital-enabled operating system for roadways.

Rekor's Network Of Partners Could Position It In A Central Role In The Development Of U.S. Infrastructure

COLUMBIA, MD / ACCESSWIRE / June 21, 2023 / Traffic management center personnel are burdened with monitoring multiple feeds and data sources, which can be overwhelming. These centers rely heavily on human operators to visually detect and comprehend roadway incidents.

A Rapidly Growing Shift From Analog Methods To Predictive Roadway Analytics - How One Company is Breaking Ground in AI-Based Predictive Traffic Analytics

COLUMBIA, MD / ACCESSWIRE / June 14, 2023 / Traffic data is a valuable resource often overlooked but can potentially benefit transportation systems significantly. By collecting and analyzing traffic data, transportation officials can gain insights into traffic patterns, congestion, and other factors that impact traffic flow on roadways.

Rekor's (NASDAQ:REKR) Unobtrusive AI Solutions For Roadways Is Changing How States and Cities Analyze and Report TrafficData

COLUMBIA, MD / ACCESSWIRE / June 6, 2023 / - United States roadways are reportedly in a state of disarray, especially when compared to other modern countries. According to the American Society of Civil Engineers (ASCE), the U.S. road infrastructure received a grade of "D" in their 2021 Infrastructure Report Card.

US Road Conditions Are Reportedly Contributing To Fatalities Across The Country - Here's How This AI-Driven Solution Looks To Help

COLUMBIA, MD / ACCESSWIRE / June 1, 2023 / The use of outdated traffic data collection methods is a growing concern in the transportation industry. The reliance on pneumatic rubber tubes and metal sensing sensors not only requires traffic to be stopped for weeks at a time and creates pollution, but also puts workers in danger.

Rekor Discover Is A Highly Scalable AI-Driven Software That Can Transform Federally Required Traffic Data Collection

COLUMBIA, MD / ACCESSWIRE / May 26, 2023 / Renowned engineer and historian Henry Petroski recently released a book detailing the actual cost of poor infrastructure in the United States. According to Petroski, traffic congestion and the associated delays cost the U.S. economy over $120 billion annually.

Traffic Congestion Costs Commuters Valuable Time And Has A Heavy Economic Cost, Costing $120 Billion A Year - Is This Company's A.I. The Solution?

Rekor Systems, Inc. (NASDAQ:REKR ) Q1 2023 Earnings Conference Call May 15, 2023 4:30 PM ET Company Participants Eyal Hen – Chief Financial Officer David Desharnais – President and Chief Operating Officer Robert Berman – Chief Executive Officer Conference Call Participants Zach Cummins – B. Riley Securities Aditya Dagaonkar – Northland Capital Operator Good afternoon, ladies and gentlemen, and welcome to today's Rekor Systems Inc. Conference Call.

Rekor Systems, Inc. (REKR) Q1 2023 Earnings Call Transcript

Highlights: Q1 2023 gross revenue increased 108% to $6.2 million as compared to $3.0 million in Q1 2022 Recurring revenue increased 148% to $4.2 million in Q1 2023 as compared to $1.7 million in Q1 2022 Performance obligations increased 14% to $24.3 million as of March 31, 2023, as compared to $21.4 million as of December 31, 2022 Closed $15 million Senior Secured Notes offering in January 2023 Completed $10 million Registered Direct Offering in March 2023 COLUMBIA, MD / ACCESSWIRE / May 15, 2023 / Rekor Systems, Inc (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company, a leader in providing innovative solutions that are making the world's roadways safer, greener and more efficient, today announced its financial results for the three months ended March 31, 2023. "We have made substantial progress in managing our operation's cash burn during the first three months of 2023.

Rekor Systems, Inc. Reports First Quarter 2023 Financial Results

COLUMBIA, MD / ACCESSWIRE / May 9, 2023 / - One of the primary goals - and biggest challenges - of Departments of Transportation (DOTs) and Traffic Management Centers (TMCs) is managing a good response time to traffic disruptions and incidents safely and efficiently. Unfortunately, managing roadway events has become increasingly challenging due to limited staffing, outdated technology and an overwhelming amount of fragmented data from multiple sources.

Traffic Congestion Cost The U.S. $81 Billion In 2022 - America's Roadways Need Better Management, And Rekor's (NASDAQ: REKR) AI Could Be The Solution

COLUMBIA, MD / ACCESSWIRE / May 3, 2023 / - In 2022 , US traffic congestion resulted in the average driver spending 51 hours in traffic, equating to approximately $869 in lost time and increased pollution. Additionally, the average driver spent $134 more for fuel in 2022 than in 2021.

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Company will host earnings call on Monday, May 15, 2023 COLUMBIA, MD / ACCESSWIRE / May 1, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor" or the "Company"), a global AI technology company and leader in providing the intelligent infrastructure solutions that are making the world's roadways safer, greener and more efficient, today announced that its financial results for the first quarter of 2023 will be released on Monday, May 15, 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 First Quarter Fiscal 2023 Results

COLUMBIA, MD / ACCESSWIRE / April 25, 2023 / In the United States, gas taxes are an instrumental part of infrastructure projects. The federal government and all 50 U.S. states impose gas taxes; the average state gas tax is about 31 cents a gallon.

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Rekor's Latest Roadway Intelligence Solution Gains Rapid Support from Leading State DOT Traffic Management Centers, ITS Ecosystem, and AWS for AI-Driven Roadway Management COLUMBIA, MD / ACCESSWIRE / April 25, 2023 / Rekor Systems, Inc. (NASDAQ:REKR) (the "Company"), a global AI technology company and leader in providing the intelligent infrastructure solutions that are making the world's roadways safer, greener, and more efficient, today announced the launch of their Rekor Command™ platform - a breakthrough AI-driven roadway intelligence platform created to provide Departments of Transportation (DOTs) and Traffic Management Centers (TMCs) a real-time and holistic view of what is happening on the roadways. Launching at ITS America, Rekor will present and highlight the capabilities of Rekor Command within the Intelligent Transportation Systems (ITS) ecosystem through education, networking, and demonstrations of technologies and solutions that enable a smarter, safer, greener future for all.

Rekor Command(TM) Platform Sets New Standard for the Future of Roadway Management

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.

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