Loading...
•
Mar 31, 2020
Rekor Systems Q1 2020 Earnings Report
Rekor Systems' Q1 2020 financial performance was reported, showing revenue growth and increased gross profit.
Key Takeaways
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.
Revenue increased by 58% year-over-year, reaching $1.6 million.
Gross profit margin improved to 69% compared to 51% in the prior year.
Remaining performance obligations increased to $13.8 million as of March 31, 2020.
The company sold AOC Key Solutions, Inc. on April 2, 2020, and is concentrating on its Technology segment.
Rekor Systems
Rekor Systems
Forward Guidance
No specific forward guidance was provided in the document.