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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 (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.
Rekor Systems has launched a significant update to its AI-driven vehicle recognition software, now called Rekor Scout. This update improves privacy and security controls, allowing commercial and government users to define data retention policies tailored to specific infractions. Key features include the Rekor Public Safety Network for data sharing among agencies, peer-to-peer sharing capabilities, and an open API for enhanced data ownership. Pricing ranges from $5 to $79 per month, with a free 14-day trial for new customers. This development positions Rekor as a leader in vehicle recognition technology.
Rekor Systems (NASDAQ: REKR) has successfully integrated its Rekor One™ platform into Oklahoma’s Uninsured Vehicle Enforcement Diversion Program in just 61 days. The program aims to identify uninsured vehicles and connect drivers to affordable insurance, addressing the issue where up to 26% of vehicles on Oklahoma roads are uninsured. By leveraging real-time vehicle recognition technology, the initiative enhances roadway safety and ensures compliance with insurance regulations.
Rekor Systems launched Rekor Go, a mobile application that allows users to recognize vehicles and license plates without needing Wi-Fi or cellular service. The app captures data in real-time, storing images and metadata for 30 days. Users can manage alerts and export data seamlessly. Pricing is set at $9.99 per month or $89.99 annually, making it accessible for various commercial applications. The app aims to enhance security for events, schools, and parking management. Rekor also plans to release another vehicle recognition app for law enforcement in 2021.
Rekor Systems, Inc. (NASDAQ:REKR) announced that President and CEO Robert A. Berman will present at the 13th Annual LD Micro Main Event on December 15, 2020. The company reported a remarkable 60% increase in revenue for its core technology compared to the prior year as of September 30. Key developments include debt retirement of approximately $4.9 million, restructuring agreements, and the successful launch of multiple products, including Rekor One and Rekor Go. Additionally, Rekor gained over 50 new public safety clients and secured a $200,000 purchase order from the US Department of Defense.
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