Novume(REKR) - 2024 Q4 - Annual Results

Revenue Projections - Full-year 2024 revenue is expected to exceed $45.5 million, representing a year-over-year increase of over 30$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]