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Jun 30, 2023
Rekor Systems Q2 2023 Earnings Report
Rekor Systems reported record revenue and reduced cash burn.
Key Takeaways
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.
Reduced cash burn to approximately $5.5 million without one-time payments.
Achieved over 35% increase in revenue quarter over quarter since the fourth quarter of 2022.
Revenue growth primarily attributable to the acquisition of Southern Traffic Services, Inc. in June 2022.
Total performance obligations increased approximately 48%, up from $21,412,000 as of December 31, 2022 to $31,774,000 as of June 30, 2023.
Forward Guidance
No specific forward guidance was provided in the report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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