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Sep 30, 2024
Rekor Systems Q3 2024 Earnings Report
Rekor Systems reported a 16% increase in Q3 2024 gross revenue, driven by Urban Mobility revenue stream and commenced implementation of Rekor Discover™ in Florida after receiving FDOT-approved product list certification.
Key Takeaways
Rekor Systems reported a 16% increase in gross revenue to $10.5 million in Q3 2024, driven by the Urban Mobility revenue stream. The company is focusing on cost optimization and aims to achieve positive cash flow in 2025. Rekor Discover™ was added to the Florida DOT Approved Product List, and implementation has commenced.
Q3 2024 gross revenue increased 16% to $10.5 million compared to Q3 2023.
Q3 recurring revenue increased 14% to $5.5 million compared to $4.8 million.
Rekor Discover™ is now on the Florida DOT Approved Product List, and deployments have commenced.
CEO, David Desharnais, was inducted into the ITS America Board.
Forward Guidance
Rekor is aggressively optimizing its cost structure and accelerating its path to achieve positive cash flow in 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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