Welcome to our dedicated page for Rekor Systems news (Ticker: REKR), a resource for investors and traders seeking the latest updates and insights on Rekor Systems stock.
Overview of Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ: REKR) is a pioneering technology company specializing in the development and implementation of AI-driven roadway intelligence systems. Based in the United States, Rekor leverages cutting-edge artificial intelligence, machine learning, and big data analytics to transform how governments, businesses, and communities manage roadways and mobility data. The company's solutions provide actionable insights that enhance public safety, optimize traffic management, and promote sustainable transportation infrastructure.
Core Business Segments
Rekor operates through two primary segments: Technology and Professional Services. The Technology segment focuses on AI-powered software and hardware solutions, including vehicle recognition systems, traffic analytics platforms, and traffic safety systems. The Professional Services segment offers government contracting support, market intelligence, and specialized staffing services, enabling public agencies to streamline operations and achieve strategic goals.
Key Products and Solutions
- Rekor Command™: An advanced platform for real-time traffic management, event detection, and analytics, designed to enhance roadway safety and operational efficiency.
- Rekor Discover™: A comprehensive traffic analytics solution that provides data on vehicle classification, speed, emissions, and more, empowering transportation agencies to make informed decisions.
- Rekor Scout®: A state-of-the-art vehicle and license plate recognition platform that integrates seamlessly with existing camera systems to deliver real-time actionable insights for public safety and commercial use.
- Rekor Edge Pro: An all-in-one AI-powered device for on-site vehicle recognition, ideal for security, parking, and access control applications.
Market Position and Competitive Edge
Rekor is a leader in the rapidly evolving field of digital roadway infrastructure, addressing the limitations of traditional traffic management technologies such as induction loops and radar systems. By integrating AI and machine learning, Rekor provides unparalleled accuracy and efficiency in traffic monitoring and data analysis. The company's proprietary Rekor One® Roadway Intelligence Engine aggregates and transforms trillions of data points into actionable intelligence, setting it apart from competitors.
Customer Base and Applications
Rekor's solutions are utilized by a diverse range of customers, including state and local transportation agencies, law enforcement departments, and private enterprises. Applications span traffic safety enforcement, urban mobility planning, public safety initiatives, and environmental sustainability projects. Notable deployments include partnerships with Departments of Transportation in Texas, Ohio, Maryland, and Oregon, as well as collaborations with private sector entities for parking and access control solutions.
Industry Impact
As a pioneer in AI-enabled roadway intelligence, Rekor is redefining how mobility data is collected, analyzed, and utilized. Its solutions contribute to safer, more efficient, and environmentally sustainable transportation systems. By addressing critical challenges such as traffic congestion, road safety, and infrastructure planning, Rekor plays a vital role in modernizing global transportation networks.
Rekor Systems (NASDAQ: REKR) has announced the deployment of its Vehicle Insite application, part of the Rekor Discover® platform, across 90 sites in the Phoenix metropolitan area. The AI-powered system aims to study electric vehicle (EV) movement and traffic patterns to support regional transportation planning and EV infrastructure development.
The Vehicle Insite application replaces traditional traffic monitoring methods with non-intrusive data collection, providing detailed analytics including:
- Vehicle class, count, and speed
- State of origin information
- EV volumes and travel patterns
This deployment enables transportation planners to optimize charging station placement and assess EV adoption trends with greater accuracy, supporting data-driven decision-making for future mobility infrastructure investments.
Rekor Systems (NASDAQ: REKR) has announced it will release its financial results for FY2024 on Monday, March 31, 2025, after market close. The company anticipates reporting record annual and quarterly revenue figures. Following the release, Rekor will host an earnings conference call at 4:30 p.m. Eastern Time to discuss financial and operating results.
The conference call will be accessible via phone, with dial-in numbers provided for North American participants (877-407-8037 / +1 201-689-8037) and international access available. A webcast option will also be provided. A replay of the call will be available online for two weeks following the event, accessible via phone (877-660-6853 / 201-612-7415) with Access ID: 13751639, and through the Company's website under Investors, Events & Presentations.
Rekor Systems (NASDAQ: REKR), a leading provider of roadway intelligence technology, has announced its participation in the upcoming 37th Annual Roth Conference. The event will take place from March 16-18, 2025, at The Laguna Cliffs Marriott in Dana Point, California.
The company's leadership, including President and CEO David Desharnais and CFO Eyal Hen, will be available for one-on-one and small group meetings with institutional investors during the conference. Interested investors can arrange meetings through their Roth sales representatives or by visiting www.roth.com/oc2025.
Rekor Systems (NASDAQ: REKR) has secured a European patent for technology that detects and quantifies irregular traffic congestion, complementing its existing US patent. The system uses data from multiple sources including in-vehicle sensors, roadway detectors, and online platforms to identify congestion outliers and respond with AI-driven insights.
The company has also obtained patents for two additional technologies: a privacy protection system that replaces personally identifiable information (PII) with obfuscated records in traffic monitoring, and an image-processing technique that optimizes vehicle recognition while reducing computational demands.
These innovations support Rekor's platforms including Rekor Scout®, Rekor Discover®, and Rekor Command®, powered by the Rekor One™ engine, advancing its mission to enhance roadway safety, efficiency, and sustainability through AI and data-driven solutions.
Rekor Systems (NASDAQ: REKR) has achieved certification for its Rekor Scout® vehicle recognition platform in New Jersey's Statewide Networked ALPR Program (NJ SNAP). The initiative, backed by $13 million in state funding, including a $10 million grant for ALPR deployment, aims to enhance public safety through advanced Automatic License Plate Recognition technology.
Rekor Scout® is an AI-driven platform that enables accurate vehicle and license plate recognition on various camera types, providing real-time actionable insights and forensic investigation capabilities. The system features military-grade encryption, patented obfuscation technology for PII protection, and advanced search capabilities including partial plate identification. When combined with Rekor's Edge Series systems, it offers secure on-device processing and real-time alerts for critical situations.
Rekor Systems (REKR) and SoundHound AI (SOUN) announced a collaboration to transform emergency vehicle technology by combining SoundHound's voice AI with Rekor's Scout® vehicle recognition software. The partnership aims to provide hands-free operation of automatic license plate recognition (ALPR) and other critical vehicle systems for law enforcement and first responders.
The integration will enable voice-controlled management of emergency light bars, sirens, two-way radios, PA systems, in-car printers, and HVAC control. The system will deliver immediate voice alerts for critical information like Amber and Silver Alerts or wanted vehicle sightings. The solution will also integrate with Mobile Data Terminals (MDTs) to provide access to criminal databases, dispatch details, and incident reports through voice commands.
The technology will utilize existing high-resolution cameras in modern vehicles, eliminating the need for aftermarket hardware. With approximately 100,000 police vehicles purchased annually in the U.S., the solution targets a significant market opportunity.
Rekor Systems (NASDAQ: REKR) has launched a new AI-powered Incident Priority Ranking feature in its Rekor Command™ platform, unveiled at the Transportation Research Board's 2025 Annual Meeting. The innovative feature helps traffic and emergency operations centers prioritize and respond to high-impact roadway incidents more efficiently.
The system uses advanced multi-factor prioritization technology to rank incidents based on customizable criteria unique to each agency. Early implementation with existing customers has shown a 60% reduction in the time required to move from incident detection to resource allocation decisions, primarily by reducing data collection and ground truth verification time.
According to Shobhit Jain, SVP of Global Product Management, the feature helps agencies improve traffic safety management through automated intelligent incident prioritization, enabling operators to focus on critical issues and deliver high-impact results while maintaining consistent service levels.
Rekor Systems (NASDAQ: REKR) announced that the New Mexico Department of Transportation (NMDOT) has expanded its use of Rekor Discover™ and Edge Series systems in Phase Two deployment, following the success of Phase One announced in January 2024. The AI-driven traffic analytics technology has gained significant traction across multiple U.S. states, including Florida, Georgia, Colorado, Maryland, South Carolina, and New York.
The technology offers a safer and more efficient alternative to traditional traffic analysis methods like rubber tubes and piezo sensors, which are prone to failure and require disruptive installation. Rekor Discover™ uses roadside AI with high-resolution video streams for accurate traffic data collection, featuring easy installation and third-party deployment capabilities.
This expansion demonstrates the platform's scalability both domestically and internationally, as traffic data collection is essential for transportation planning across all 50 U.S. states and numerous countries globally.
Rekor Systems (NASDAQ: REKR) has announced the complete satisfaction of its $15 million outstanding balance under the August 2024 Prepaid Advance Agreement with Yorkville Advisors Global's affiliate, as of December 31, 2024. CFO Eyal Hen emphasized that this early prepayment demonstrates the company's commitment to prudent financial management and shareholder value creation. The move strengthens Rekor's balance sheet flexibility and positions the company to better pursue strategic growth initiatives while maintaining disciplined capital allocation.
Rekor Systems reported Q3 2024 financial results with gross revenue increasing 16% to $10.5 million compared to Q3 2023. Recurring revenue grew 14% to $5.5 million. The company's Rekor Discover™ was added to Florida DOT's Approved Product List with implementation beginning across all districts. Despite revenue growth, the company reported increased losses from operations of $12.9 million, up 31% from Q3 2023. To optimize costs, Rekor is implementing annual reductions of up to $15 million and has eliminated the option for additional $20 million advances under the Yorkville Advisors agreement. The company's remaining performance obligations decreased 11% to $23.6 million as of September 30, 2024.
FAQ
What is the current stock price of Rekor Systems (REKR)?
What is the market cap of Rekor Systems (REKR)?
What does Rekor Systems, Inc. do?
Who are Rekor's primary customers?
What are Rekor's key products?
How does Rekor differentiate itself from competitors?
What industries does Rekor Systems operate in?
What is Rekor One® Roadway Intelligence Engine?
Where is Rekor Systems headquartered?
What are some notable Rekor projects?
What challenges does Rekor address in the transportation industry?
How does Rekor contribute to sustainability?
