Rekor Systems' CEO Robert Berman to Address Investors at The 13th Annual LD Micro Main Event Conference

Rhea-AI Summary

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.

Positive

• 60% year-to-date revenue increase as of September 30 compared to 2019.
• Successfully retired approximately $4.9 million in debt.
• Business realignment including divestiture of non-core subsidiary TeamGlobal.
• Inclusion in the Russell Microcap Index.
• Launch of Rekor One and Rekor Go platforms enhancing service offerings.
• Acquisition of over 50 new public safety clients and significant contracts.

Negative

• None.

COLUMBIA, MD / ACCESSWIRE / December 11, 2020 / Rekor Systems, Inc. (NASDAQ:REKR), a Maryland-based company providing real-time roadway intelligence through AI-driven decisions, today announced that President and CEO Robert A. Berman will be presenting at the 13th Annual LD Micro Main Event investor conference on Monday, December 15 at 10:20 AM ET.

Rekor made many announcements of significant interest to investors in 2020, including a 60% year-to-date increase in revenue for its core technology business as of September 30^th, compared to the comparable period in 2019. The Company marked the successful completion of a major realignment through the following business and financial moves:

• A September announcement that the Company is substantially debt-free following the retirement of approximately $4.9 million in debt
• An agreement in July on a consensual balance sheet restructuring with its lenders
• The divestiture in June of its final non-core subsidiary, TeamGlobal
• Inclusion in the Russell Microcap Index in June
• The creation of a Joint Venture with Cygnet-Infotech in June to launch a smart permitting and parking management startup called ROKER
• The sale of its wholly-owned subsidiary, AOC Key Solutions, Inc., in April
• The launch of a new reseller and partner program to grow channel sales in March

Concurrently with its successful realignment, Rekor announced the following significant achievements in product development and customer wins for its core technology business:

• Rekor One, a new platform that facilitates the use of Rekor's vehicle recognition systems to support multiple community safety, intelligent roadway and revenue generation activities across city, county and state government agencies
• Rekor Go, the first on device mobile application to deliver AI-powered vehicle recognition capability into the hands of businesses and organizations
• Mastercard's selection of Rekor for its AI Powered Drive Through Platform to enable the touchless economy
• The selection of Rekor to detect non-compliant vehicles by Oklahoma's Uninsured Vehicle Enforcement Division
• The addition of over 50 new public safety clients, including multi-year contracts with Dauphin County, PA and the cities of Lauderhill, Florida, Mt. Juliet, TN, Collierville, TN and New Rochelle, NY
• A $200,000 purchase order from the US Department of Defense for 200 additional licenses for Rekor's Watchman software.
• The signing of a 5-year agreement with Mesa Technologies to use Rekor on school bus safety arms
• The launch of Watchman Home
• The continued evolution of our iP360 parking and citation management solutions

"I look forward to speaking with investors at the LD Micro Main event about how Rekor has executed the strategy it laid out for investors early in the year," said Berman. "Events like this are a valuable resource for both companies and the investors we serve."

This year's LD Micro Main event, taking place on December 14-15, will feature a new and unique format, with companies presenting for 10 minutes, followed by 10 minutes of Q&A by a panel of investors and analysts. Investors interested in attending the event can register at: ve.mysequire.com/

View Rekor's profile here: http://www.ldmicro.com/profile/REKR

About Rekor Systems, Inc.
Rekor (NASDAQ:REKR) is a Maryland-based company providing real-time roadway intelligence through AI-driven decisions. Rekor provides commercial and government customers with actionable, real-time vehicle recognition data to enable informed decisions to be made faster and provide better outcomes. Rekor is transforming industries like Public Safety, Customer Experience and Smart Cities in more than 70 countries across the globe with smarter, quicker, cost-competitive vehicle recognition solutions for security, revenue discovery and recovery, public safety, electronic toll collection, brand loyalty, parking operations, logistics, and traffic management. We use the power of artificial intelligence to analyze video streams and transform them into AI-driven decisions by our clients. Our machine learning software can turn most IP cameras into highly accurate and affordable vehicle recognition devices used to help protect lives, increase brand loyalty and enhance operations and logistics, without the need to install expensive new infrastructure. We make what was once considered impossible, possible. To learn more please visit our website: https://rekor.ai.

About LD Micro/SEQUIRE
LD Micro began in 2006 with the sole purpose of being an independent resource to the microcap world. What started as a newsletter highlighting unique companies, has transformed into the pre-eminent event platform in the space. For more information, please visit ldmicro.com.

Forward-Looking Statements
This press release includes statements concerning Rekor Systems, Inc. and its future expectations, plans and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. Important factors that could have such a result include a decline or weakness in general economic conditions, an outbreak of hostilities, the ongoing pandemic and responses thereto related to COVID-19, a decline or volatility in the securities markets or regulatory changes or other adverse developments with respect to the markets for the Company's products and services or an inability to obtain adequate financing. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.

Media Contact:
Emily Burdeshaw
REQ for Rekor Systems
eburdeshaw@req.co

Investor Contact:
Charles Degliomini
Rekor Systems, Inc.
ir@rekor.ai

SOURCE: Rekor Systems, Inc.

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FAQ

What was Rekor Systems' revenue increase in 2020?

Rekor Systems reported a 60% increase in revenue for its core technology business year-to-date as of September 30, 2020.

What significant financial moves did Rekor make in 2020?

Rekor retired approximately $4.9 million in debt and completed a balance sheet restructuring with its lenders.

Who is presenting for Rekor at the LD Micro Main Event?

President and CEO Robert A. Berman will be presenting at the 13th Annual LD Micro Main Event on December 15, 2020.

What new products has Rekor launched recently?

Rekor launched Rekor One and Rekor Go, enhancing its vehicle recognition capabilities for various sectors.

How many new public safety clients did Rekor acquire?

Rekor gained over 50 new public safety clients, including multi-year contracts with several cities.