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Rekor Systems, Inc. - REKR STOCK NEWS

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.

News

Anne Townsend Joins Rekor Systems Board, Strengthening Cybersecurity Oversight

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Rekor Systems, Inc. (NASDAQ:REKR) appoints Anne Townsend to its Board of Directors, bringing cybersecurity and smart city expertise. The company also forms a Technology and Social Responsibility Committee led by Prof. Sanjay Sarma.
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Rekor Systems to Announce 2023 Financial Results

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Rekor Systems, Inc. (NASDAQ:REKR) anticipates record annual and quarterly revenue for FY2023, with financial results set to be released on March 25, 2024. The company will host an earnings conference call on the same day to discuss its financial and operating performance. Additionally, an Investor and Analyst Day is scheduled for April 18, 2024, in New York.
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Rekor Announces Early Redemption of Senior Secured Notes, Strengthening Company's Financial Position

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Rekor Systems, Inc. (REKR) announces the early redemption of all outstanding Senior Secured Notes, totaling $12.5 million, to strengthen its balance sheet and remove a first priority lien on assets. The redemption, funded partly by a recent public offering, includes $1.875 million in unregistered common shares. Rekor's CEO views this as a significant step to enhance shareholder value and financial flexibility.
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Rekor Systems Announces Full Exercise and Closing of Underwriters' Option in Connection with its Underwritten Public Offering of Common Stock

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Rekor Systems, Inc. (REKR) announced the completion of the sale of 1,500,000 shares of common stock at $2.50 per share, generating approximately $3.5 million in net proceeds. The offering, including the full exercise of the underwriters' option, totaled around $26.4 million. William Blair and Northland Capital Markets played key roles in the offering process.
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Rekor Systems Announces Closing of Follow-On Public Offering of Common Stock

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Rekor Systems, Inc. (REKR) completes a public offering of 10,000,000 common shares at $2.50 per share, expecting to raise approximately $22.9 million. The underwriters have an option to purchase an additional 1,500,000 shares. William Blair and Northland Capital Markets played key roles in the offering.
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Rekor Systems Announces Pricing of Follow-On Public Offering of Common Stock

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Rekor Systems, Inc. announced the pricing of its underwritten public offering of 10,000,000 shares of its common stock at $2.50 per share. The offering is expected to close soon, and the company aims to raise significant funds through this public offering.
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Rekor Systems Launches Proposed Follow-On Public Offering of Common Stock

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Rekor Systems, Inc. (Nasdaq:REKR) announced a proposed follow-on public offering of shares of its common stock, with the intention to grant the underwriters a 30-day option to purchase additional shares. The offering is subject to market conditions, and the securities are being offered pursuant to an effective shelf registration statement on Form S-3 filed with the SEC. William Blair is acting as the sole book-running manager for the proposed offering, and Northland Capital Markets is acting as the lead manager.
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Rekor Discover(TM) Broadens Reach in Western U.S. with New Expansion

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Rekor Systems, Inc. (NASDAQ: REKR) has secured a pay-for-data agreement with the New Mexico Department of Transportation for the deployment of its cutting-edge Rekor Discover platform to conduct vehicle class, count, and speed data reporting for a phase one statewide deployment. The agreement follows the Company's standard MSRP pay-for-data pricing and will commence monthly payments as each system is brought online. The AI powering Rekor Discover was a critical factor in this partnership, as it can reliably capture traffic analytics in New Mexico's varied climate. Rekor's solution replaces traditional, outdated traffic analysis methods, providing highly accurate traffic data, and promoting transparency and effectiveness in the U.S. highway system.
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Rekor Systems Secures Five-Year Traffic Counting Contract With Gwinnett GA Department of Transportation

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Rekor Systems, Inc. (NASDAQ:REKR) announced that its Traffic Services division, including the recently acquired All Traffic Data, secured a five-year traffic counting contract with Gwinnett County Georgia, Department of Transportation, with a total contract value of approximately $1 million. The acquisition of ATD adds portable traffic study work to Rekor's portfolio, complementing the Company's existing business with the Georgia Department of Transportation. This contract win marks the start of new revenue streams and data sources, with expectations of extensive revenue growth beyond Georgia.
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Rekor Systems Secures Over $3 Million in Public Safety and Licensing Contracts

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Rekor Systems, Inc. (NASDAQ:REKR) announced securing three public safety and licensing contracts totaling approximately $3 million. PAVE Mobility, a parking technology company, licensed Rekor's Vehicle Recognition SDK for accurate license plate and vehicle recognition. The Mt. Juliet Police Department selected Rekor Scout for its Guardian Shield Program, and a prominent police department in Maryland also chose the Rekor Scout platform to enhance public safety in one of the state's most populous counties.
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FAQ

What is the current stock price of Rekor Systems (REKR)?

The current stock price of Rekor Systems (REKR) is $0.9642 as of November 22, 2024.

What is the market cap of Rekor Systems (REKR)?

The market cap of Rekor Systems (REKR) is approximately 89.6M.

What does Rekor Systems, Inc. do?

Rekor Systems, Inc. provides AI-driven vehicle identification and roadway management solutions. Their products include traffic safety systems, vehicle recognition software, and enterprise parking enforcement solutions.

What are Rekor’s key products?

Rekor's key products include OpenALPR vehicle recognition software, Rekor Command for transportation management, Rekor Discover for urban mobility, and Rekor Scout for public safety and commercial applications.

What recent achievements has Rekor Systems announced?

Rekor recently announced the early redemption of $12.5 million in Senior Secured Notes and record annual revenue for FY2023. They also appointed Anne Townsend, a cybersecurity expert, to their Board of Directors.

How does Rekor’s technology benefit government and businesses?

Rekor's AI-powered solutions provide actionable insights into roadway conditions, improving traffic safety, urban mobility, and public safety. These insights help governments and businesses make informed decisions and enhance operational efficiency.

What services does Rekor offer to government clients?

Rekor offers government contracting support services, including market intelligence, opportunity identification, capture and strategic advisory, proposal strategy and development, teaming support, and specialized staffing services.

What is the Rekor One® Roadway Intelligence Engine?

The Rekor One® Roadway Intelligence Engine is the core of Rekor’s technology. It aggregates and transforms vast amounts of mobility data into actionable intelligence, providing a comprehensive picture of roadways.

Where can I find more information about Rekor Systems, Inc.?

More information about Rekor Systems, Inc. can be found on their official website at https://rekor.ai. You can also follow Rekor on social media platforms like LinkedIn, Twitter, Threads, and Facebook.

What is the financial outlook for Rekor Systems, Inc.?

Rekor has demonstrated significant revenue growth, with a notable increase in contract values and a reduction in operating cash burn. The company is committed to maintaining a strong financial foundation and pursuing strategic growth opportunities.

How is Rekor contributing to the development of smart cities?

Rekor contributes to smart city development by offering advanced AI-powered traffic management and roadway intelligence solutions, which help improve traffic flow, safety, and overall urban mobility.

What is Rekor's approach to data privacy and security?

Rekor prioritizes data privacy and security by integrating robust encryption and obfuscation functions into their traffic monitoring systems, ensuring that personally identifiable information is protected while providing valuable traffic and mobility analytics.

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Rekor Systems, Inc.

Nasdaq:REKR

REKR Rankings

#4455 Ranked by Market Cap
N/A Ranked by Dividends

REKR Stock Data

89.58M
87.98M
6.15%
50.95%
17.64%
Software - Infrastructure
Communications Equipment, Nec
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United States of America
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