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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

Rekor Partners with Philadelphia Industrial Development Corporation to Transform Philadelphia Navy Yard Pilot Into Digital Infrastructure Hub for Roadways

Rhea-AI Summary
Rekor Systems, Inc. (NASDAQ: REKR) announced a multiyear contract with the Philadelphia Industrial Development Corporation (PIDC) to expand their partnership in implementing state-of-the-art roadway intelligence technology. The partnership aims to analyze traffic patterns and gain critical insights within the 1,200-acre Navy Yard campus. PIDC selected Rekor for its AI expertise and commitment to creating more innovative, safer cities through roadway intelligence. The project has enabled PIDC to recover costs associated with property damage, prepare for events, proactively manage road maintenance, efficiently deploy resources, strategically plan future electric vehicle (EV) charge station deployments, and keep citizens safer on property. This milestone marks the evolution of the partnership from a pilot to a formal revenue-generating program, reinforcing the positive impact of Rekor's technology on urban environments.
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Rekor Systems Announces Date for 2024 Annual Meeting of Stockholders

Rhea-AI Summary
Rekor Systems, Inc. (NASDAQ:REKR) announced its 2024 Annual Meeting of Stockholders to be held on April 18, 2024. The company will also host an Investor and Analyst Meeting, offering insight into its vision for roadway intelligence. The record date for stockholders has been set as February 21, 2024.
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Rekor Systems and Kistler Partner to Deliver Breakthrough Roadway Intelligence to Protect Bridges & Roadway Infrastructure Against Dangerous Overweight Vehicles

Rhea-AI Summary
Rekor Systems, a leader in roadway intelligence technology, announced a strategic collaboration with Kistler, the world's foremost supplier of quartz weigh-in-motion sensors and electronics, to address the critical issue of bridge and roadway infrastructure deterioration caused by overweight vehicles. The first-of-its-kind solution is already deployed in New York City and aims to revolutionize real-time and predictive roadway intelligence.
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8.36%
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Rekor Announces $2.1 Million Contract Expansion with Texas Department of Transportation

Rhea-AI Summary
Rekor Systems, a leader in roadway intelligence technology, announced an expanded collaboration with the Texas Department of Transportation (TxDOT) to enhance traffic management and safety in the Austin District. This strategic move reinforces Rekor's commitment to providing innovative solutions for citizen and roadway safety.
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4.28%
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Rekor Systems Strengthens Position in Urban Mobility with Acquisition of All Traffic Data Services, LLC

Rhea-AI Summary
Rekor Systems, a leader in roadway intelligence technology, completed the acquisition of All Traffic Data Services, further solidifying its expertise in transportation data collection and analytics. The acquisition is valued at $19 million through a combination of cash and stock, and ATD is expected to generate approximately $9.5 million in revenue and an estimated $3 million in EBITDA for fiscal year 2023. The acquisition expands Rekor's urban mobility operations across the country's western region and strengthens its position in the Southeast, providing ready access to experienced urban mobility personnel and operational facilities to support the expansion of its IoT network.
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4.14%
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Rekor Systems Announces Sale of $15 Million of Revenue Sharing Notes Due December 15, 2026 Priced at 13.25%

Rhea-AI Summary
Rekor Systems, a leader in roadway intelligence technology, completed a $15 million offering of 13.25% Series A Prime Revenue Sharing Notes. The notes are secured under an Indenture of Trust and expected to fund expansion and working capital purposes. The company plans to host an investor conference call on December 14, 2023, to discuss the program.
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Rekor Systems, Inc. Reports Record Third Quarter 2023 Financial Results

Rhea-AI Summary
Rekor Systems, Inc (NASDAQ:REKR) announced its Q3 2023 financial results, boasting a record gross revenue of $9.1 million, a 35% increase from Q3 2022. The company also reported a 268% Compound Annual Growth Rate in AI and technology-related revenue from 2018 to 2022. Performance obligations increased by 41% to $30.2 million, and total contract value signed during the third quarter saw a 74% increase from the same period in 2022. Adjusted EBITDA improved from a loss of $10.7 million in Q3 2022 to a loss of $6.6 million in Q3 2023.
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-8.33%
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Nextmove by Cintra and Rekor Forge Multi-Year Strategic Partnership for Next Generation Connected Vehicle Solutions

Rhea-AI Summary
Rekor Systems, Inc. has announced a strategic partnership with NextMove by Cintra to accelerate the development of connected vehicle and infrastructure ecosystem for safer and more efficient transportation solutions. The partnership aims to drive digital infrastructure innovation and enhance mobility across the US.
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Rekor Systems to Announce Third Quarter Fiscal 2023 Results

Rhea-AI Summary
Rekor Systems, Inc announced that its financial results for Q3 2023 will be released on November 14, 2023, after market close. The company will host an earnings conference call to discuss financial and operating results.
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Rhea-AI Sentiment
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-0.36%
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Rekor Joins AWS ISV Accelerate Program

Rhea-AI Summary
Rekor Systems, Inc. has joined the Amazon Web Services (AWS) Independent Software Vendor (ISV) Accelerate Program, which will help drive new business for Rekor by connecting them with AWS Sales organization. Rekor underwent thorough architectural and security reviews to ensure the quality of its solutions. The company will receive co-selling support from AWS, including access to expanded sales enablement resources and reduced AWS Marketplace listing fees. This partnership will expand Rekor's customer reach and drive innovation in the roadway intelligence space.
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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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