Rekor Systems Inc Stock Price, News & Analysis

Rekor Systems, Inc. announced its intent to acquire Southern Traffic Services (STS) for up to $14.5 million. This strategic move aims to enhance Rekor's traffic data collection capabilities and expand its market presence. For Q1 2022, recurring revenue surged 96% to $1.7 million, despite a 14% decline in total revenue to $3.6 million. Operating expenses doubled to $14.2 million due to increased headcount and R&D investments. The company reported an EBITDA loss of $11.2 million, indicating significant operational challenges.

Rekor Systems (NASDAQ:REKR) has signed a Letter of Intent to acquire Southern Traffic Services (STS) for up to $14.5 million, which includes performance-based earnouts. The acquisition aims to enhance Rekor's geographic reach by adding over 60,000 lanes of traffic coverage across the U.S., particularly in the Southeast. STS is expected to generate $15 million in revenue for 2022, with half being recurring. This deal, which is expected to close within 90 days, is projected to be accretive to Rekor's earnings immediately upon closing.

Rekor Systems has announced its Transportation Management Platform has been certified as "Well-Architected" by Amazon Web Services (AWS), aimed at enhancing traffic and incident management. This certification allows Rekor to offer its solutions to a global audience on-demand. The platform provides real-time situational awareness, incident detection, and analytics to improve urban mobility and public safety. Joining the AWS Partner Network enhances collaboration with AWS users and streamlines the migration of new customers to cloud solutions.

Rekor Systems, Inc. (NASDAQ:REKR) reported that its revenue for Q1 2022 is expected to exceed $3.4 million, reflecting strong growth following a business model transition. The company will release detailed financial results on May 16, 2022, after market close, accompanied by an earnings call at 4:30 p.m. ET. Rekor focuses on intelligent infrastructure and AI technology to enhance city safety and efficiency.

Rekor Systems reported a 55% increase in gross revenue to $14.3 million for 2021, up from $9.2 million in 2020. Recurring revenue rose by 28% to $4.6 million, while performance obligations grew by 35% to $22.6 million. The company raised $70.1 million in net cash from a public offering in February 2021 and acquired Waycare in August 2021, enhancing its product offerings. Operating expenses surged to $39.3 million, reflecting increased headcount and marketing efforts. Adjusted EBITDA for 2021 was a loss of $21.8 million.

Rekor Systems (NASDAQ:REKR) reported a significant revenue increase for 2021, achieving over $14 million, up from $9.2 million in 2020, representing more than 50% growth. The company plans to disclose its FY2021 financial results on March 31, 2022, followed by an earnings conference call at 4:30 PM ET. CEO Robert A. Berman expressed optimism about the company's momentum and its Rekor One™ platform, which positions them as leaders in intelligent infrastructure.

Rekor Systems, Inc. (NASDAQ:REKR) has released a shareholder letter from CEO Robert A. Berman detailing strategic advancements in AI technology aimed at enhancing intelligent infrastructure. The letter discusses the impact of traffic congestion in the U.S. and Rekor's solutions for sustainable management. Key points include the launch of projects in multiple states and the development of a privacy filter for data collection. The letter emphasizes the company's AI software's potential in traffic management and significant revenue opportunities through a unified platform.

Rekor Systems, Inc. (NASDAQ:REKR) will participate in the Sidoti Winter Small Cap Conference on January 19-20, 2022, with CEO Robert A. Berman presenting and hosting investor meetings. Berman highlighted the opportunity to discuss Rekor's business strategy and technological advancements in intelligent infrastructure aimed at enhancing road safety and efficiency. The presentation starts at 10:45 am ET on January 19 and is accessible via a live link. Interested investors can register for presentations and one-on-ones through Sidoti's website.

Rekor Systems has been selected by the City of Winchester, Virginia, to implement the Rekor One™ Traffic Management and Public Safety platform in a six-month pilot program. This platform is designed to improve traffic management and public safety via real-time data and analytics. If successful, Winchester may transition to an annual subscription costing $455,000. The platform aims to enhance city infrastructure, particularly during peak tourist seasons, by providing agencies with actionable insights and improving overall road safety.