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Dec 31, 2020
Rekor Systems Q4 2020 Earnings Report
Rekor Systems reported an 88% increase in Q4 2020 gross revenue.
Key Takeaways
Rekor Systems reported an 88% increase in Q4 2020 gross revenue, reaching $2.8 million compared to $1.5 million in Q4 2019. The increase was attributed to additional products offered and the expansion of technology offerings. The company's eCommerce platform organically increased by 53% to $244,000 for the quarter.
Q4 2020 gross revenue increased 88% to $2.8 million compared to Q4 2019.
eCommerce platform revenue organically increased 53% to $244,000 in Q4 2020.
Gross profit for Q4 2020 increased to $2,055,000 with a gross margin of 72%.
Operating loss for Q4 2020 increased to $3,099,000.
Forward Guidance
Rekor Systems is focused on expanding its technology offerings and go-to-market strategy, including its eCommerce platform and partners program. The company's recent secondary offering of $70.1 million in net cash proceeds will provide the ability to expand that strategy and look for M&A opportunities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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