COLUMBIA, Md., July 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 second quarter of 2025 on Tuesday, August 12, 2025, after market close. On the same day, the Company will host its earnings conference call at 4:30 p.m. ET to discuss its financial and operating results. CONFERENCE CALL INFORMATION Any person ...

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].

Core Insights - Rekor Systems, Inc. has announced a transformative deployment of 150 Rekor Discover® systems under a one-year Data-as-a-Service contract valued at $1.2 million with a Sun Belt state transportation agency, expecting installation within 60 days [1][2] Group 1: Technology and Implementation - The Rekor Discover® platform utilizes AI-enabled roadside sensors to collect detailed per-vehicle data while ensuring compliance with Federal Highway Administration requirements, thus eliminating the need for intrusive in-road sensors [2][5] - The deployment represents a significant advancement in traffic data collection and monitoring, allowing for safer and more efficient operations without disrupting traffic or posing risks to roadway workers [5][6] Group 2: Market Expansion and Adoption - Rekor Discover® is gaining traction across various states in the U.S., including Arizona, Colorado, Georgia, New Mexico, New York, Florida, and South Carolina, indicating strong momentum in the market [3][4] - The company aims to replace outdated single-function roadway devices with a scalable, AI-powered platform, which is increasingly being recognized by international transportation authorities, suggesting potential for global expansion [3][4] Group 3: Vision and Future Potential - The International Road Federation's World Road Statistics indicates that over 60 countries are actively collecting traffic data, positioning Rekor to serve both domestic and international markets seeking modern alternatives to legacy traffic technologies [4] - The company's vision includes creating a digitally-enabled operating system for roadways, leveraging AI and big data analytics to provide actionable insights for safer and more efficient transportation planning [6]

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]

Core Insights - Rekor Systems, Inc. reported a first quarter revenue of $9.2 million, a 6% decrease from $9.8 million in the same period last year, attributed to adverse weather conditions and a slowdown in project activity [2][6][20] - The company narrowed its Adjusted EBITDA loss from $9.4 million in Q1 2024 to $7.4 million in Q1 2025, indicating improved operational efficiency [2][6] - A new General Manager structure has been implemented to enhance accountability and focus on customer needs, allowing for greater agility and innovation [3] Financial Performance - Revenue for the three months ended March 31, 2025, was $9,198 thousand, down from $9,778 thousand in 2024, reflecting a decrease of $580 thousand [5][20] - Cost of revenue, excluding depreciation and amortization, decreased from $5,285 thousand in 2024 to $4,761 thousand in 2025, a reduction of $524 thousand [5][20] - Adjusted Gross Profit was $4,437 thousand, slightly down from $4,493 thousand, with an Adjusted Gross Margin improvement from 46.0% to 48.2% [5][20] Operational Changes - The loss from operations decreased from $12,916 thousand in Q1 2024 to $10,139 thousand in Q1 2025, a reduction of $2,777 thousand, primarily due to cost containment efforts [8][20] - Total operating expenses decreased from $17,409 thousand in 2024 to $14,576 thousand in 2025, reflecting a focus on operational efficiency [20] - The company is building on a solid financial foundation with a commitment to enhancing its technological capabilities and operational efficiency [3] Future Outlook - The management emphasizes a strategic focus aimed at driving stronger, more predictable, and scalable growth moving forward [3] - The company is confident in its ability to deliver near-term results on its growth plans, supported by a comprehensive evaluation of operations and a new organizational structure [3]

Core Viewpoint - Rekor Systems, Inc. will release its financial results for Q1 2025 on May 14, 2025, after market close, followed by an earnings conference call at 4:30 p.m. Eastern Time [1] Group 1: Financial Results Announcement - The financial results for the first quarter of 2025 will be announced on May 14, 2025 [1] - An earnings conference call will take place on the same day at 4:30 p.m. Eastern Time to discuss the financial and operating results [1] Group 2: Conference Call Information - Participants can join the call by dialing in approximately 10 minutes before it starts, with specific numbers provided for North America [2] - A replay of the call will be available online approximately two hours after the live event for two weeks [2] Group 3: Company Overview - Rekor Systems, Inc. specializes in roadway intelligence systems utilizing AI-enabled computer vision and machine learning [3] - The company aggregates and transforms vast amounts of mobility data into actionable insights, aiming to enhance roadway safety, efficiency, and environmental sustainability [3]