COLUMBIA, Md., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Rekor Systems, Inc. (NASDAQ: REKR), a leader in developing and implementing state-of-the-art roadway intelligence technology, unveiled its new roadway Incident Priority Ranking feature at the Transportation Research Board's (TRB) 2025 Annual Meeting in Washington, DC. This prestigious event brings together thousands of transportation professionals from around the globe, featuring sessions and workshops on all modes of transportation and topics relevant to pol ...

Expansion Demonstrates Scalability Domestically and InternationallyCOLUMBIA, MD, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Rekor Systems, Inc. (NASDAQ: REKR), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced that the New Mexico Department of Transportation (NMDOT) has expanded its use of Rekor Discover™ and Rekor’s non-intrusive video-based Edge Series systems. This latest pay-for-data deployment, installed by an authorized third party, builds on the success ...

Financial Update - Rekor Systems fully satisfied the outstanding balance of $15 million under its August 2024 Prepaid Advance Agreement with an affiliate of Yorkville Advisors Global as of December 31, 2024 [1] - The prepayment demonstrates the company's commitment to prudent financial management and shareholder value creation, enhancing balance sheet flexibility [2] - Eliminating this obligation early positions Rekor to better capitalize on strategic growth initiatives while maintaining disciplined capital allocation [2] Company Overview - Rekor Systems is a leader in developing and implementing state-of-the-art roadway intelligence systems using AI-enabled computer vision and machine learning [3] - The company is a pioneer in digital infrastructure implementation, collecting, connecting, and organizing the world's mobility data to create a digitally-enabled operating system for roadways [3] - Rekor's core technology, the Rekor One® Roadway Intelligence Engine, aggregates and transforms trillions of data points into actionable intelligence through proprietary computer vision, machine learning, and big data analytics [3] - The company's solutions provide governments and businesses with comprehensive roadway insights, aiming to create a safer, greener, and more efficient world [3]

S&P 500 Performance and Key Drivers - The sharp rise in the S&P 500 (SP500) in 2024 was largely driven by the "Magnificent 7" stocks, which constitute a significant portion of the index [1] - As 2025 begins, momentum stocks are experiencing selling pressure, indicating a potential shift in market dynamics [1] Analyst Background and Industry Insights - Gary Alexander, with extensive experience covering technology companies on Wall Street and working in Silicon Valley, provides valuable insights into industry trends [1] - He serves as an outside adviser to several seed-round startups, offering a unique perspective on emerging themes in the tech sector [1] - His contributions to Seeking Alpha since 2017 and syndication to platforms like Robinhood highlight his influence in the investment community [1]

Financial Data and Key Metrics Changes - Revenues for Q3 2024 were $10.5 million, a 16% increase compared to Q3 2023, and for the nine months ended September 30, 2024, revenues reached $32.8 million, a 37% increase year-over-year [31] - Recurring revenue in Q3 2024 was $5.5 million, up 14% from the same period last year, while for the nine months ended September 30, 2024, it totaled $16.8 million, a 13% increase [32] - Adjusted gross margin for Q3 2024 was 44%, down from 52.6% in Q3 2023, and for the nine months ended September 30, 2024, it was 48.2%, also down from 52.6% [33] - Adjusted EBITDA loss for Q3 2024 was $9.2 million, compared to $6.6 million in the same period last year, with a nine-month adjusted EBITDA loss of $24.3 million, slightly up from $23.2 million [35][36] Business Line Data and Key Metrics Changes - The Urban Mobility segment, which includes roadway data aggregation activities, was the main driver of growth in Q3 2024 [31] - The Command solution for traffic management has seen significant adoption in Texas, with a reported 29% reduction in secondary crashes and a 44-minute faster restoration of normal traffic flows [15][17] Market Data and Key Metrics Changes - Florida has been identified as a cornerstone for growth, with the company beginning statewide deployments of its Discover system, which has been validated during emergency operations [9][10] - New York has advanced Rekor Discover from proof-of-concept to procurement, granting access to approximately 115,000 miles of public roadways [12] Company Strategy and Development Direction - The company is focused on creating a leaner structure, aiming for $15 million in annualized savings and reducing reliance on external capital to achieve positive cash flow by 2025 [27][38] - Rekor aims to transform 4.2 million miles of U.S. roadways with its AI-driven technology, anticipating a potential 40% compound annual growth rate in revenue over the next five years [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing demand for digital infrastructure and the company's ability to navigate government procurement cycles, which can be unpredictable [25][60] - The company is optimistic about the impact of the Infrastructure and Jobs Act, which is expected to remain in place regardless of the political administration [61][64] Other Important Information - The company has established partnerships with industry leaders like Amazon Web Services and NVIDIA, enhancing its capabilities in public safety and transportation infrastructure [21][22] - Rekor's presence at over 30 industry events has reinforced its role as a thought leader in the transportation sector [23] Q&A Session Summary Question: Impact of hurricanes on recurring revenue - Management confirmed that recurring revenue was impacted by hurricanes in Q3, similar to previous years, but anticipates a recovery in Q4 [46][47] Question: Details on Florida deployments - Management indicated that deployments in Florida are being planned closely with the central office and districts, with a focus on ensuring coverage during emergency operations [48][49] Question: Addressable market size - Management estimated a total addressable market of 750,000 to 1.5 million potential sites across various states, emphasizing the opportunity for upselling and cross-selling [53][55] Question: Cost savings and liquidity - Management confirmed that the $15 million in expected cost savings will provide sufficient liquidity to reach free cash flow breakeven in 2025 [76]

Rekor Systems, Inc. (REKR) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -75%. A quarter ago, it was expected that this company would post a loss of $0.13 per share when it actually produced a loss of $0.12, delivering a surprise of 7.69%.Over the last four quarters, the company has surpass ...

A downtrend has been apparent in Rekor Systems, Inc. (REKR) lately with too much selling pressure. The stock has declined 23.6% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround. Here is How to Spot Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical indicator ...

Rekor Systems, Inc. (REKR) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.18 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 7.69%. A quarter ago, it was expected that this company would post a loss of $0.11 per share when it actually produced a loss of $0.23, delivering a surprise of -109.09%. Over the last four quarters, the company has s ...

Summary: New LPR service from SoundThinking called "PlateRanger™, Powered by Rekor®" now available for demonstration and quotation. FREMONT, Calif. and COLUMBIA, Md., July 23, 2024 (GLOBE NEWSWIRE) -- SoundThinking, Inc. (Nasdaq: SSTI), a leading public safety technology company, and Rekor Systems, Inc. (Nasdaq: REKR), a leader in developing and implementing state-of-the-art roadway intelligence technology for public safety, urban mobility, and transportation management, today announced a strategic partners ...

Rekor Systems, Inc. (NASDAQ:REKR) Q1 2024 Earnings Conference Call May 15, 2024 4:30 PM ET Company Participants Eyal Hen - Chief Financial Officer David Desharnais - President and COO Robert Berman - Chairman and CEO Conference Call Participants Noah Levitz - William Blair Michael Latimore - Northland Capital Markets Roger Hawkins - RAH Capital Operator Good afternoon, ladies and gentlemen, and welcome to today's Rekor Systems, Inc. Conference Call. My name is Paul, and I will be your coordinator for today. ...