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Rekor Systems (REKR) Eyes $30B Deepfake Market with New AI Subsidiary
Yahoo Finance· 2025-11-17 17:15
Core Insights - Rekor Systems, Inc. is entering the global deep-fake detection market with a new subsidiary named Rekor Labs, separate from its core roadway-intelligence business [1] - The global deep-fake detection market is estimated to exceed $30 billion over the next decade, with product development initiated in 2023 following government requests for verification of traffic videos [2] - The full product launch is anticipated in the first half of 2026, targeting five key verticals: news media and journalism, social-media platforms, government/security agencies, enterprise safety, and entertainment/film markets [3] Company Overview - Rekor Systems, Inc. is based in Maryland and specializes in AI-enabled computer-vision and machine-learning platforms for roadway intelligence, with flagship solutions like Rekor Discover®, Rekor Command®, and Rekor Scout® [4]
Rekor Systems Reports Record Third Quarter 2025 Financial Results
Globenewswire· 2025-11-13 21:03
Company Achieves Third Consecutive Quarter of Positive Results Highlights: Record Quarterly Revenue: $14.2 million.Record Gross Margin: Adjusted gross margin expanded to 63% for the quarter and 55% for the nine-month period, reflecting improved mix and operational leverage.Reduced Adjusted EBITDA Loss: Adjusted EBITDA loss narrowed sharply to $1.5 million, the best in the Company’s history.Disciplined Cost Management: Operating expenses fell 26% sequentially and 20% year over year, driving sustained financi ...
Rekor Systems Secures Its Largest Statewide, Multi-Year Contract with Georgia DOT, Valued at a Minimum of $50 Million Over the Contract's Full Term
Globenewswire· 2025-10-07 11:00
Core Insights - Rekor Systems, Inc. has secured its largest statewide contract with the Georgia Department of Transportation (GDOT), which could exceed $100 million over a seven-year term [1][2] - The contract aims to enhance traffic data collection and improve roadway safety through the deployment of Rekor Discover and Data-as-a-Service (DaaS) technologies [1][3] Contract Details - The contract allows for cooperative purchasing across various Georgia agencies, potentially increasing its total value to over $100 million [1][2] - It is projected to generate over $50 million in additional revenue during its duration [2] Technology and Implementation - Rekor's DaaS platform provides non-intrusive roadside equipment installations, improving count accuracy and enabling data collection in previously inaccessible areas [3][11] - The platform integrates various roadside detection technologies, including vehicle classification and weigh-in-motion, into a comprehensive solution [7][9] Operational Efficiency - The innovative DaaS contracting mechanism has reduced administrative overhead for GDOT, enhancing efficiency in managing device inventories and maintenance [4][10] - Rekor manages all infrastructure and support, eliminating the need for agencies to handle installation and servicing [8] Safety and Data Insights - The platform offers real-time operational and safety insights, including incident detection for various roadway hazards [9][12] - It supports public sector functions such as federal reporting and emergency response coordination [12] Recent Achievements - The GDOT contract follows another significant contract with the Texas Department of Transportation, highlighting Rekor's growing influence in modernizing transportation data collection [13]
Rekor To Unveil a New Era of Roadway Intelligence At ITS World Congress 2025 Featuring Secure, Cloud-Based Tools for Traffic Studies, Real-Time Incident Awareness, and Smarter Infrastructure Planning
Globenewswire· 2025-08-21 11:30
Core Viewpoint - Rekor Systems, Inc. has launched Rekor TrafficSight, a cloud-native, AI-powered solution designed to enhance the security and efficiency of traffic data management in the U.S., addressing national security concerns related to the transmission of sensitive roadway video data to foreign entities [1][4][3]. Group 1: Product Features and Innovations - Rekor TrafficSight allows users to securely upload video and generate advanced traffic analytics, processing all data within the U.S. to comply with federal data privacy and cybersecurity standards [4][3]. - The application extracts FHWA 13-bin classifications and vehicle counts from existing video feeds, eliminating the need for specialized hardware or field installations [5]. - Rekor is also launching a Data-as-a-Service (DaaS) offering for Rekor Discover, providing agencies with access to trusted traffic data without the burden of installation or maintenance [8][9]. Group 2: Addressing Security Concerns - The unregulated practice of sending raw video footage to foreign countries poses risks of data misuse, raising concerns about national security and infrastructure vulnerability [2][3]. - Rekor TrafficSight mitigates these risks by ensuring that all video data is processed domestically, thus preventing potential exploitation of sensitive information [4][3]. Group 3: Enhanced Traffic Management Solutions - The new Incident Detection API, built on the Rekor Command platform, enables real-time event detection by unifying data from various sources, enhancing situational awareness for agencies [11][12]. - Rekor RoadView is introduced as a lightweight tool for local agencies, providing real-time insights into roadway conditions without requiring extensive infrastructure [13][14]. - The high-performance License Plate Recognition (LPR) technology showcased by Rekor can be deployed flexibly, supporting various use cases such as electronic tolling and regulatory enforcement [15]. Group 4: Strategic Vision - The company aims to modernize transportation operations by replacing manual data handling with secure automation and providing actionable insights through advanced technology [16].
Central Texas Regional Mobility Authority Extends Rekor Command® Contract in $1.4 Million Agreement to Enhance Toll Road Traffic Operations
GlobeNewswire News Room· 2025-07-02 11:30
Core Viewpoint - Rekor Systems, Inc. has extended its Rekor Command® contract with the Central Texas Regional Mobility Authority for $1.4 million over five years, emphasizing the commitment to enhance roadway safety and incident response across Central Texas toll roads [1][4]. Group 1: Contract and Implementation - The renewed contract reflects the Mobility Authority's ongoing investment in advanced technologies for incident detection and response [1][4]. - Rekor Command® has been operational since 2021, providing real-time insights and improving coordination for the Mobility Authority's Traffic Incident Management team [2][5]. Group 2: Performance Metrics - The implementation of Rekor Command® has led to a 324% increase in incident detection and an 11-minute faster average response time [7]. - On average, 641 incidents are detected monthly, showcasing the platform's effectiveness in managing roadway incidents [7]. Group 3: Features and Benefits - Rekor Command® offers advanced analytics, real-time situational awareness, and seamless coordination tools, transforming traffic operations and enhancing public safety [5][6]. - The platform includes features like Driver Connect for bi-directional communication with drivers and AI-powered predictive insights for quicker incident response [7]. Group 4: Future Developments - The Mobility Authority plans over 35 major infrastructure projects through 2032, with Rekor Command® supporting efforts to reduce congestion and improve safety during this development phase [6].
Rekor Systems Selected for Statewide Texas DOT Contract to Deploy Rekor Command® Platform
Globenewswire· 2025-06-03 11:30
Core Insights - Rekor Systems, Inc. has been awarded a multi-year statewide contract by the Texas Department of Transportation (TxDOT) to implement its advanced incident management platform, Rekor Command®, across all TxDOT districts [1][5] - The contract includes an eight-figure blanket purchase order, allowing immediate deployment of the technology to enhance traffic operations, reduce congestion, and improve roadway safety [1][5] Industry Context - Texas operates the largest state-maintained roadway network in the U.S., with over 80,000 miles of highways, facing increasing pressure to enhance operations due to population growth and traffic volume [2] - The state has a history of adopting advanced transportation technologies, making it an ideal environment for deploying Rekor's platform [2] Performance Metrics - Rekor Command® has shown significant operational improvements in Texas, including a 159% increase in incident detection, an 8.4-minute reduction in median incident detection time, and an 83% incident detection accuracy [7] - The platform has also achieved a 44-minute reduction in incident clearance time and a 29% reduction in secondary crashes [7] New Features and Enhancements - Under the expanded contract, TxDOT will deploy new features such as a Traffic Impact Module, which uses AI to assess and visualize incident impacts on traffic flow in real-time [6][8] - The Work Zone API will enhance safety by providing real-time insights into work zone activity and integrating with the USDOT FHWA's Work Zone Data Exchange [8] Strategic Importance - The contract reinforces Rekor's role as a trusted partner for large-scale transportation agencies, contributing to smarter, safer, and more resilient roadways in Texas [9]