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.
Rekor Systems, Inc. (NASDAQ: REKR) is an innovative leader in the development and implementation of advanced roadway intelligence systems. The company leverages artificial intelligence (AI) and machine learning to provide real-time vehicle identification and management solutions across the United States, Canada, and globally. Operating through two key segments—Technology and Professional Services—Rekor offers a suite of products designed to enhance transportation management, urban mobility, and public safety.
Notably, Rekor's core product, OpenALPR, provides robust vehicle recognition software that supports traffic safety systems, including hardware capable of identifying red light and school zone traffic violations. The company also offers forensic-quality imaging and data analysis software, which forms the backbone of its citation management services and enterprise parking enforcement solutions.
In addition to its technological solutions, Rekor provides extensive government contracting support services. These services encompass market intelligence, opportunity identification, capture and strategic advisory, proposal strategy and development, teaming support, and specialized staffing services.
Rekor's cutting-edge technology extends to its flagship platforms—Rekor Command for transportation management, Rekor Discover for urban mobility, and Rekor Scout for public safety and commercial use. These platforms are underpinned by the Rekor One® Roadway Intelligence Engine, which aggregates and transforms vast amounts of data into actionable insights, empowering governments and businesses with a comprehensive understanding of roadways.
Recent achievements of Rekor include early redemption of $12.5 million of its outstanding Senior Secured Notes, reflecting the company's commitment to a sound financial foundation and operational freedom. Additionally, Rekor is set to announce record annual revenue for FY2023 and continues to expand its innovative solutions and strategic partnerships.
Rekor's latest developments include the appointment of Anne Townsend to its Board of Directors, bringing significant expertise in cybersecurity and smart cities. The company also continues to announce record financial results and strategic acquisitions, reinforcing its position as a market leader in AI-powered roadway intelligence.
To stay updated on Rekor’s latest news and developments, visit their website at rekor.ai and follow them on their social media channels.
Rekor Systems will present at the Planet MicroCap Showcase on April 22, 2021.
CEO Robert A. Berman will lead a virtual session at 9:00 am EST, discussing Rekor’s recent strategic developments and answering investor queries. Notably, Rekor closed a public stock offering earlier this year and updated its Rekor Scout™ vehicle recognition software. The company is also expanding its Channel Partner Program. Registered attendees can access the live presentation and webcasts later. Rekor integrates AI technology to enhance vehicle recognition for public safety and operational efficiency across 80 countries.
Rekor Systems, Inc. (NASDAQ:REKR) has announced the launch of its new Partner Portal, aimed at enhancing its channel partner program. This portal will facilitate better access to training, resources, and opportunity tracking for both Premier and Authorized Reseller partners. Key features include real-time insights into opportunities, a lead share system for immediate visibility, and streamlined support ticket generation for Authorized Resellers. The initiative is expected to boost partner engagement and streamline the business process, enabling Rekor to deliver enhanced vehicle recognition solutions worldwide.
Rekor Systems reported a 69% increase in gross revenue for 2020, reaching $9.2 million, compared to $5.5 million in 2019. The fourth quarter saw an 88% surge in revenue to $2.8 million from $1.5 million year-over-year. The company raised $70.1 million through a public offering in February 2021 to bolster its technology focus and pursue M&A opportunities. Despite these gains, the operating loss rose to $11.8 million for 2020, up from $7.5 million in 2019, primarily due to increasing expenses related to growth and R&D.
Rekor Systems, Inc. (NASDAQ:REKR) will announce its financial results for the fourth quarter and full year 2020 on March 10, 2021. A conference call will be held at 4:45 p.m. ET to discuss these results. Interested participants can join the call by dialing 877-407-8033 (U.S.) or 201-689-8033 (International). A live webcast will be available online, and a replay will be accessible afterward for two weeks.
Rekor specializes in real-time roadway and public safety intelligence across approximately 80 countries, leveraging AI for enhanced decision-making in various sectors.
Rekor Systems, Inc. (NASDAQ:REKR) announced its intent to acquire Iteris, Inc. on February 20, 2021, offering a mix of cash and stock. However, Iteris' board rejected the proposal on February 26, stating it was not in the best interest of their shareholders. Rekor's CEO expressed disappointment over the swift rejection and highlighted the inquiries from Rekor's shareholders regarding the merger. The announcement follows Rekor's broader strategy to explore potential merger partners, aiming to enhance its AI-driven roadway and public safety solutions in over 70 countries.
Rekor Systems (NASDAQ: REKR) has been chosen by the State of North Dakota Parks and Recreation Department to pilot its Rekor One™ solution at Icelandic, Fort Stevenson, and Fort Abraham Lincoln State Parks. This new platform will replace outdated data collection systems, enabling authorities to gather real-time usage patterns, enhance visitor safety, and support strategic planning. The goal is to eventually implement this technology across all 15 destination parks, facilitating improved traffic management and marketing efforts.
Rekor Systems (NASDAQ:REKR) announced the successful closing of its public offering, selling 6,126,936 shares at $12.25 per share, yielding approximately $75.1 million in gross proceeds. The offering included an exercise of the underwriters' option for an additional 799,166 shares. Funds will be allocated for general corporate purposes, including working capital and potential acquisitions. The offering was managed by B. Riley Securities and Lake Street Capital Markets, with an effective shelf registration statement filed with the SEC.
Rekor Systems (NASDAQ:REKR) has announced a public offering of 5,327,773 shares of common stock at $12.25 per share, aiming to generate approximately $65.3 million in gross proceeds. The offering will close around February 9, 2021. Underwriters also have a 30-day option to purchase an additional 799,166 shares. Proceeds will be allocated for general corporate purposes, including potential acquisitions or investments in related technologies. The offering is detailed in a prospectus filed with the SEC.
Rekor Systems, Inc. (NASDAQ:REKR), a Maryland-based AI-driven roadway intelligence provider, announced a proposed underwritten public offering of common stock. This offering includes a 30-day option for underwriters to purchase additional shares. The proceeds will be utilized for general corporate purposes, including capital expenditures and possible acquisitions. The offering is subject to market conditions, and no assurance is given on its completion or terms. Rekor's technology aids in various sectors like public safety and smart cities, promoting enhanced decision-making.
Rekor (NASDAQ:REKR) announced that CEO Robert A. Berman will present at NobleCon17 on January 19, 2021, at 2:15 PM EST. The conference allows Rekor to share its advancements, including the launch of the Rekor One platform in Oklahoma, their first mobile app Rekor Go, and improvements in data privacy and security through Rekor Scout. The event will run from January 19 to 20, 2021, and interested investors can register for the virtual conference.
Rekor provides AI-driven vehicle recognition solutions for public safety and smart cities across over 70 countries.
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