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Mar 31, 2024
Rekor Systems Q1 2024 Earnings Report
Rekor Systems reported first quarter financial results, showing improvement across key metrics and maintaining year-over-year revenue growth.
Key Takeaways
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.
Revenue increased due to the acquisition of All Traffic Data (ATD), with ATD contributing $2,364,000 in revenue.
Total contract value of contracts won in Q1 2024 was $7,846,000, compared to $12,083,000 in Q1 2023.
Remaining performance obligations as of March 31, 2024, were approximately $22,912,000, a decrease from $26,390,000 as of December 31, 2023.
David Desharnais appointed as CEO and Viraj Mehta named Executive Director of the Board.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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