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Sep 30, 2023
Rekor Systems Q3 2023 Earnings Report
Rekor Systems reported record revenue and reduced losses in Q3 2023.
Key Takeaways
Rekor Systems reported record Q3 2023 revenue of $9.1 million, a 35% increase compared to Q3 2022. The company also improved its Adjusted EBITDA from a loss of $10.7 million in Q3 2022 to a loss of $6.6 million in Q3 2023.
Record Q3 2023 gross revenue of $9.1 million, a 35% increase year-over-year.
Performance obligations increased 41% to $30.2 million as of September 30, 2023.
Total contract value signed during the third quarter was $8.4 million, up 74% year-over-year.
Adjusted EBITDA improved from a loss of $10.7 million in Q3 2022 to a loss of $6.6 million in Q3 2023.
Forward Guidance
Rekor expects to have a strong fourth quarter and meet or beat the current estimates for the full year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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