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Mar 31, 2021
Rekor Systems Q1 2021 Earnings Report
Reported a substantial year-over-year increase in revenue, driven by growth in both commercial and government sectors, and launched the beta version of the Rekor One platform.
Key Takeaways
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.
Gross revenue increased by 164% to $4.2 million compared to the first quarter of 2020.
Completed an underwritten public offering in February 2021, raising $70.1 million in net cash proceeds.
Initiated services for Oklahoma’s Uninsured Vehicle Enforcement Diversion (UVED) Program, generating $245,000 in revenue.
Launched the beta version of the Rekor One platform.