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Dec 31, 2022
Rekor Systems Q4 2022 Earnings Report
Rekor Systems reported its financial results, focusing on streamlining operations and integrating strategic acquisitions.
Key Takeaways
Rekor Systems reported a revenue increase for the year ended December 31, 2022, driven primarily by the STS acquisition and a focus on recurring revenue contracts. The company also saw a reduction in operating expenses during the fourth quarter due to streamlining activities.
Revenue increased by 72% compared to the previous year, reaching $19.92 million.
Recurring revenue increased by 182% compared to the previous year, reaching $13.091 million.
Contracts won during the year were valued at $21.962 million, a 146% increase year-over-year.
Operating expenses decreased by $3.95 million in Q4 2022 compared to Q3 2022 due to streamlining activities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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