Rekor Systems Inc Stock Price, News & Analysis

Rekor Systems, Inc. (NASDAQ:REKR) has secured a multiyear contract with Augusta University Health System to digitize parking permitting in Georgia. This partnership aims to enhance parking operations at multiple AU Health facilities, utilizing Rekor's vehicle recognition technology alongside ROKER's blockchain-based management system. The SaaS-based integrated parking platform will streamline permit management, enforcement, and mobile payments, ultimately simplifying the parking experience for users and improving operational efficiency.

Rekor Systems, Inc. (NASDAQ:REKR) has been selected by the Texas Department of Transportation (TxDOT) to implement its traffic management technology. This multi-year program aims to enhance incident response time and roadway safety through Rekor's cloud-based roadway intelligence platform. The technology integrates data from various sources, improving incident identification. With this upgrade, TxDOT will leverage real-time data to respond more effectively to incidents, thereby improving safety for Texas citizens.

Rekor Systems (REKR) announced the acquisition of Southern Traffic Services (STS), enhancing its traffic engineering capabilities. In Q2 2022, recurring revenue surged to 48% of total revenue, compared to 21% in Q2 2021. Performance obligations rose to $31.9 million, up from $22.6 million at the end of 2021. The company's revenue for the latest quarter grew by 1% to $4.3 million, while overall performance is supported by new sales initiatives. However, losses from operations increased significantly, totaling $15.6 million for the quarter.

Rekor Systems (NASDAQ:REKR), a leader in intelligent infrastructure, announced participation in the Q3 Virtual Investor Summit on August 16-17, 2022, with a presentation scheduled for August 16 at 3:30 PM ET. CEO Robert A. Berman will present innovative AI-driven solutions focused on enhancing public safety and urban mobility. The event will connect over 90 companies with more than 500 qualified investors.

For registration and details, visit: Zoom Registration.

Rekor Systems (NASDAQ:REKR) will release its second-quarter 2022 financial results on August 11, 2022, after market close. The company will host an earnings conference call at 4:30 p.m. ET that same day to discuss the financial and operating results. Interested participants can join by dialing in 10 minutes prior to the call. A replay will be available shortly after the live call for two weeks. Rekor focuses on providing intelligent infrastructure solutions using AI and machine learning to enhance roadway safety and smart mobility.

Rekor Systems, Inc. (NASDAQ:REKR) has secured a groundbreaking multimillion dollar contract with the Florida Department of Transportation (FDOT). The five-year agreement focuses on non-motorized roadway data collection, targeting improved safety for pedestrians and cyclists in Florida, which has the highest bicycle fatalities in the U.S. The contract will be executed through Rekor's subsidiary, Southern Traffic Services, which it acquired recently. The data will help inform safety studies and infrastructure planning, contributing to funding allocations at the state and federal levels.

Rekor Systems (NASDAQ:REKR) will hold a special investor conference call on July 14, 2022, at 4:00 p.m. Eastern to discuss its recent acquisition of Southern Traffic Services. Investors and analysts can join the call by dialing 877-407-8037 (North America) or 201-689-8037 (International) 10 minutes prior to the start. A live webcast will also be available at this link. A replay will be accessible for two weeks post-call using the provided toll-free and international numbers.

Rekor Systems has successfully completed its acquisition of Southern Traffic Services (STS) for up to $14.5 million, which includes performance-based earnouts. STS is expected to contribute $15 million in revenue for 2022, with 50% being recurring and an EBITDA of $3 million. This acquisition enhances Rekor's geographic reach and public sector customer base while combining 30 years of traffic engineering experience with Rekor's advanced AI technologies. The purchase aligns with anticipated demand for traffic data collection driven by recent infrastructure investments.

Rekor Systems announced a partnership with Netivei Israel to enhance highway safety and traffic management through its Rekor One Traffic Management solution. This one-year initiative is one of the largest public-private collaborations in Israel's transportation sector, generating approximately $300,000 in revenue for Rekor. The project aims to integrate various real-time data sources, including traffic analytics and incident footage, to improve traffic flow and reduce congestion. The collaboration underscores Rekor's role in advancing innovative infrastructure solutions.