COLUMBIA, Md., April 23, 2025 (GLOBE NEWSWIRE) -- Rekor Systems, Inc. (NASDAQ:REKR) ("Rekor "or the" Company "), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced that it will release its financial results for the first quarter of 2025 on Wednesday, May 14, 2025, after market close. On the same day, the Company will host its earnings conference call at 4:30 p.m. Eastern Time to discuss financial and operating results. CONFERENCE CALL INFORMATION Any pe ...

FREMONT, Calif. and COLUMBIA, Md., April 15, 2025 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (NASDAQ:SSTI), a leading public safety technology provider, today announced the integration of PlateRanger™ powered by Rekor® (NASDAQ:REKR) – its advanced license plate and vehicle recognition (ALPR) solution – into the company's SafetySmart™ platform alongside ShotSpotter® and CrimeTracer™. These milestones strengthen SoundThinking's commitment to open standards and seamless interoperability, empowering law enforcemen ...

Financial Data and Key Metrics Changes - The company reported fourth quarter 2024 revenue of $13.3 million, surpassing consensus estimates by 3% and marking a year-over-year growth rate above 20% [25] - For the full year 2024, revenue reached $46 million, a robust increase of 32% compared to $34.9 million in 2023 [27] - Adjusted EBITDA loss was reduced to approximately $4.7 million in Q4 2024, significantly improved from $9.2 million in Q3 2024 [29] - Full year 2024 adjusted EBITDA loss remained relatively flat year-over-year at $29.1 million [30] Business Line Data and Key Metrics Changes - The Urban Mobility segment contributed significantly to overall growth, driven by demand for the new roadway data aggregation solution [25] - Public safety, the second largest revenue source, achieved solid mid-teens growth, bolstered by strategic licensing partnerships [26] - Recurring revenue for Q4 totaled $5.8 million, reflecting a modest 2% decline year-over-year, attributed to timing differences [26] Market Data and Key Metrics Changes - The company gained traction in states like Texas, Florida, Georgia, Maryland, and New Mexico, demonstrating the value of AI-driven platforms [11] - In Florida, the company achieved inclusion on the state's approved product list, allowing broader rollout of solutions [11] Company Strategy and Development Direction - The Board decided to shift strategy away from relying on traditional government contracting timelines, focusing instead on a more predictable revenue base [12][14] - The company aims to operate at a level with a clear path to breakeven, with any upside from large government contracts being additive rather than essential [14] - Partnerships with global technology leaders like Amazon Web Services and NVIDIA were deepened, recognizing the potential of AI-driven transportation platforms [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the robust government contracting pipeline, stating it is a matter of when, not if, orders will come through [12] - The new administration's focus on addressing inefficiencies in government technology is seen as advantageous for the company [16] - Management emphasized the importance of aligning the company's cost structure with controllable factors rather than waiting on uncertain government timelines [15] Other Important Information - The company repaid the remaining balance of a $15 million prepaid advance agreement ahead of schedule, enhancing its balance sheet [22] - The former CEO, David Desharnais, resigned, and the Board is in the process of identifying a new CEO [23] Q&A Session Summary Question: Comparison with Flock Safety's license plate reader cameras - Management stated that comparing Flock and Rekor is not fair as they target different markets, with Rekor focusing on commercial rather than law enforcement [36] Question: Timeline for free cash flow breakeven - Management anticipates reaching free cash flow breakeven by the end of the year [39] Question: Progress of partnership with SoundThinking - Management indicated that SoundThinking is making progress and conducting pilots, which is expected to pay off in 2025 [41] Question: Rollout progress in Florida involving over 1,000 cameras - Management noted that government contracting processes take time, but they are optimistic about ongoing procurements in Florida and other states [44][45] Question: Organic growth expectations for the year - Management refrained from providing specific growth numbers but expressed confidence in the adoption of new products and technologies [52] Question: Cost-cutting measures and savings - Management confirmed that cost-cutting measures were implemented effectively, with expectations for substantial savings this year [55] Question: Liquidity and share count - Management discussed the importance of revenue sharing notes for improving liquidity without dilutive funding [61] Question: Camera deployment in Florida and potential contracts - Management could not disclose specific deployment numbers but confirmed good relationships and ongoing work with Florida [72][74]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38338 Rekor Systems, Inc. (Exact name of registrant as specified in its charter) Delaware 81-5266334 (State or oth ...

Revenue Projections - Full-year 2024 revenue is expected to exceed $45.5 million, representing a year-over-year increase of over 30% compared to 2023[2] - Fourth-quarter 2024 revenue is projected to be above $12.5 million, reflecting growth of over 12% compared to the same period last year[2] Financial Performance - The net loss for Q4 2024 is reported at $20.428 million, compared to a net loss of $11.324 million in Q4 2023[4] - Adjusted EBITDA for the year ended December 31, 2024, is expected to be $(29.403) million, slightly improved from $(29.853) million in 2023[4] Cost Management and Strategic Initiatives - The company implemented cost reduction efforts starting in November 2024, including voluntary cash reductions in employee compensation in exchange for equity awards[5] - An Executive Committee was established in January 2025 to focus on strategic realignment and accelerate revenue growth while reducing dependence on outside capital[6] Product Focus - The company is concentrating on the Rekor Scout® and Rekor Discover® product lines for public and commercial customers[6] Leadership Changes - The resignation of President and CEO David Desharnais was accepted on March 12, 2025, with interim leadership provided by Robert A. Berman[7] Growth Strategy - The company is focused on improving cash flow performance and reducing operating losses while positioning for growth domestically and internationally[1] - Forward-looking statements indicate potential growth in the global market for the company's AI-powered technology products and services[11]

"We are pleased with our financial and operational achievements in 2024," said Rekor CFO Eyal Hen. "Our record revenue growth, alongside consistent improvement in operational efficiency, highlights our dedication to strategic execution and innovation. With our expanding market presence and strong partnerships, Rekor is well- positioned for continued momentum throughout 2025 and beyond." In early January, the Rekor Board of Directors established an Executive Committee to review Company operations, focusing o ...

Core Insights - Rekor Systems, Inc. is focusing on improving financial performance by reducing operating losses and positioning for growth both domestically and internationally [1] - The company expects full-year 2024 revenue to exceed $45.5 million, marking a year-over-year increase of over 30% compared to 2023 [2] - Fourth-quarter 2024 revenue is projected to be above $12.5 million, reflecting growth of over 12% compared to the same period last year [2] Financial Performance - Preliminary financial results indicate a net loss of $20.428 million for Q4 2024, compared to a net loss of $11.324 million in Q4 2023 [4] - For the full year 2024, the net loss is expected to be $61.483 million, up from $45.685 million in 2023 [4] - Adjusted EBITDA for the year is projected at $(29.403) million, slightly improved from $(29.853) million in 2023 [4] Cost Reduction and Strategic Realignment - The company has implemented cost reduction efforts starting in November 2024, including voluntary cash reductions in employee compensation in exchange for equity awards [5] - An Executive Committee was established to review operations and focus on a go-to-market strategy to accelerate revenue growth and reduce reliance on outside capital [6] - Workforce reductions and realignment of executives with global scaling experience are part of the strategy to enhance sales and operational resources [7] Leadership Changes - On March 12, 2025, Rekor's President and CEO, David Desharnais, resigned, and the Board has initiated a search for a new CEO [8]

Core Insights - Rekor Systems, Inc. is conducting a 90-site study in the Phoenix metropolitan area using its Vehicle Insite application to gather data on electric vehicle (EV) movement, traffic flow patterns, and roadway usage, which will aid in regional transportation planning and EV infrastructure development [1][4] - The Vehicle Insite application utilizes AI-powered solutions to provide real-time, precise, and non-intrusive data collection, replacing traditional traffic study methods that are often inefficient and disruptive [2][3] - The application offers detailed vehicle analytics, including class, count, speed, and state of origin, enabling transportation planners to optimize charging station placement and assess EV adoption trends with high accuracy [3][4] Company Overview - Rekor Systems, Inc. is a leader in roadway intelligence systems, employing AI-enabled computer vision and machine learning to collect and organize mobility data, aiming to create a digitally-enabled operating system for roadways [5] - The company's technology aggregates trillions of data points into actionable insights, providing a comprehensive picture of roadways for governments and businesses, promoting safety, sustainability, and efficiency [5]

Core Insights - Rekor Systems, Inc. is conducting a 90-site study in the Phoenix metropolitan area using its Vehicle Insite application to gather data on electric vehicle (EV) movement, traffic flow patterns, and roadway usage, which will aid in regional transportation planning and EV infrastructure development [1][4] Group 1: Company Overview - Rekor Systems, Inc. is a leader in roadway intelligence, utilizing AI-enabled computer vision and machine learning to develop advanced roadway intelligence systems [5] - The company aims to collect, connect, and organize mobility data to create a digitally-enabled operating system for roadways, transforming trillions of data points into actionable intelligence [5] Group 2: Industry Context - As EV adoption increases, transportation planners require reliable, real-time data to adapt infrastructure to meet growing demand, moving away from traditional traffic studies that are inefficient and disruptive [2] - The Vehicle Insite application provides detailed vehicle analytics, including class, count, speed, and state of origin, offering a comprehensive view of roadway usage and enabling better placement of charging stations [3] Group 3: Technological Impact - The integration of Vehicle Insite into transportation planning represents a shift towards data-driven decision-making, enhancing traffic monitoring, infrastructure planning, and sustainability efforts without disrupting daily traffic operations [4] - The insights gained from the study will empower transportation planners and stakeholders to make informed policy and infrastructure investments that benefit both drivers and the environment [4]

Core Insights - Rekor Systems, Inc. is set to report record annual and quarterly revenue for FY2024 on March 31, 2025, after market close [1] - The company will host an earnings conference call on the same day at 4:30 p.m. Eastern Time to discuss its financial and operating results [1] Company Overview - Rekor Systems, Inc. is a leader in roadway intelligence technology, utilizing AI-enabled computer vision and machine learning [4] - The company focuses on collecting, connecting, and organizing mobility data to create a digitally-enabled operating system for roadways [4] - Rekor's technology aggregates trillions of data points into actionable intelligence, enhancing roadway safety, efficiency, and environmental sustainability [4]