Rekor Systems Earnings Reports

Rekor Systems achieved $13.28 million in revenue in Q4 2024, reflecting a 20% increase year-over-year. The company improved its adjusted EBITDA and gross margin, and reported an adjusted EPS of -$0.22. Operational progress included enhanced deployment of its AI-driven traffic management platform.

Rekor Systems reported a 16% increase in gross revenue to $10.5 million in Q3 2024, driven by the Urban Mobility revenue stream. The company is focusing on cost optimization and aims to achieve positive cash flow in 2025. Rekor Discover™ was added to the Florida DOT Approved Product List, and implementation has commenced.

Rekor Systems announced a 45% increase in gross revenue compared to Q2 2023. The company also secured a facility for up to $35 million in financing to fuel continued growth. Adoption of Rekor Command™ Platform increased, and contracts with TxDOT, OhioDOT, and Pitkin County, CO were secured.

Rekor Systems reported positive results for Q1 2024, marked by revenue growth and the successful acquisition of All Traffic Data (ATD). The company also completed a $26.4 million public offering. David Desharnais was appointed as the new CEO, and Viraj Mehta joined the Board as an Executive Director.

Rekor Systems reported a record Q4 revenue of $11.1 million, marking a 71% increase year-over-year. The company's performance obligations increased by 23% to $26.4 million, and total contract value surged by 124% to $49.1 million. The adjusted EBITDA loss was narrowed to $28.7 million.

Rekor Systems reported record Q3 2023 revenue of $9.1 million, a 35% increase compared to Q3 2022. The company also improved its Adjusted EBITDA from a loss of $10.7 million in Q3 2022 to a loss of $6.6 million in Q3 2023.

Rekor Systems reported record second quarter 2023 financial results, with consecutive quarter-over-quarter revenue growth and a reduction in cash burn. The company's revenue growth is attributed to the acquisition of Southern Traffic Services, Inc. and increased sales of the company's software.

Rekor Systems reported a 108% increase in gross revenue for the three months ended March 31, 2023, reaching $6,185,000 compared to $2,975,000 for the same period last year. The company also saw a 148% increase in recurring revenue and a 692% growth in the value of contracts won.

Rekor Systems reported a revenue increase for the year ended December 31, 2022, driven primarily by the STS acquisition and a focus on recurring revenue contracts. The company also saw a reduction in operating expenses during the fourth quarter due to streamlining activities.

Rekor Systems reported a 184% increase in revenue to $7.4 million for Q3 2022, driven by the STS acquisition and their land and expand strategy. Recurring revenue increased to 65% of total revenue. The company also saw a reduction in SG&A expenses due to strategic realignment.

Rekor Systems reported a 1% increase in revenue for the three months ended June 30, 2022, driven by synergies from acquisitions and a land and expand strategy. Recurring revenue saw a substantial increase, reaching 48% of total revenue. The company also completed the acquisition of Southern Traffic Services (STS) and secured key contracts, including a selection by the Israel National Infrastructure Company.

Rekor Systems reported a decrease in overall revenue for Q1 2022 compared to Q1 2021, but experienced significant growth in recurring revenue. The company is focusing on subscription contracts and expanding its customer base through strategic initiatives and potential acquisitions.

Rekor Systems reported a 55% increase in revenue for the year ended December 31, 2021, driven by new products, direct sales, and partner program sales. The company heightened its focus on sales initiatives and go-to-market strategy, increasing recurring revenues. Rekor also completed the acquisition and integration of Waycare Technologies Ltd.

Rekor Systems reported a 23% increase in revenue for Q3 2021 compared to Q3 2020. The company is transitioning to a recurring revenue model, which caused a sequential dip in revenues. They also acquired Waycare Technologies to enhance their capabilities.

Rekor Systems reported a strong revenue growth of 60% in Q2 2021, reaching $4.3 million compared to $2.7 million in Q2 2020. The gross margin also improved to 66% from 52% in the same period last year. However, the operating loss increased to $4.7 million due to higher operating expenses related to expansion and strategic initiatives.

Rekor Systems, Inc. announced its Q1 2021 financial results, demonstrating a 164% increase in gross revenue to $4.2 million compared to $1.6 million in Q1 2020. The company completed an underwritten offering in February 2021, resulting in net proceeds of $70.1 million in cash.

Rekor Systems reported an 88% increase in Q4 2020 gross revenue, reaching $2.8 million compared to $1.5 million in Q4 2019. The increase was attributed to additional products offered and the expansion of technology offerings. The company's eCommerce platform organically increased by 53% to $244,000 for the quarter.

Rekor Systems reported a 40% increase in gross revenue to $2.1 million for the third quarter of 2020, compared to $1.5 million in the third quarter of 2019. The company has strategically realigned to focus on long-term demand drivers from commercial and government segments and has relieved the company of any significant debt obligations.

Rekor Systems reported an 89% increase in gross revenue for the second quarter of 2020, reaching $2.7 million compared to $1.4 million in the same period of 2019. The company completed the sale of non-core businesses and agreed to exchange over 77% of its 2019 notes payable to common stock.

Rekor Systems reported a 58% increase in revenue to $1.6 million for Q1 2020 compared to $1.0 million in Q1 2019. The gross profit margin increased to 69% from 51% year-over-year. The company has classified all operations in its Professional Services segment as held for sale or discontinued operations.