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Jun 30, 2020
Rekor Systems Q2 2020 Earnings Report
Rekor Systems reported an increase in revenue and completed the sale of non-core businesses.
Key Takeaways
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.
Gross revenue increased 89% to $2.7 million compared to Q2 2019.
Completed the sale of non-core businesses, AOC Key Solutions and TeamGlobal.
Agreed to exchange over 77% of its 2019 notes payable to common stock and related loan modifications.
Formed partnerships with Fortune 50 and Fortune 500 companies to use its AI software.
Rekor Systems
Rekor Systems
Forward Guidance
No forward guidance was provided in the earnings report.