•
Sep 30, 2020
Rekor Systems Q3 2020 Earnings Report
Rekor Systems reported a 40% increase in gross revenue and focused on long-term growth drivers.
Key Takeaways
Rekor Systems reported a 40% increase in gross revenue to $2.1 million for the third quarter of 2020, compared to $1.5 million in the third quarter of 2019. The company has strategically realigned to focus on long-term demand drivers from commercial and government segments and has relieved the company of any significant debt obligations.
Third quarter gross revenue increased 40% to $2.1 million compared to Q3 2019.
Year-to-date revenue increased 60% to $6.4 million compared to the prior year.
The company retired the remaining balance of its high-interest debt obligations.
The company raised $29.9 million in cash year-to-date as part of its At-the-Market Sales Agreement.
Rekor Systems
Rekor Systems
Forward Guidance
No specific forward guidance was provided in the earnings report.