Rekor Systems Reports Third Quarter 2024 Financial Results
Rekor Systems reported Q3 2024 financial results with gross revenue increasing 16% to $10.5 million compared to Q3 2023. Recurring revenue grew 14% to $5.5 million. The company's Rekor Discover™ was added to Florida DOT's Approved Product List with implementation beginning across all districts. Despite revenue growth, the company reported increased losses from operations of $12.9 million, up 31% from Q3 2023. To optimize costs, Rekor is implementing annual reductions of up to $15 million and has eliminated the option for additional $20 million advances under the Yorkville Advisors agreement. The company's remaining performance obligations decreased 11% to $23.6 million as of September 30, 2024.
Rekor Systems ha riportato i risultati finanziari del terzo trimestre del 2024, con un aumento del fatturato lordo del 16%, arrivando a 10,5 milioni di dollari rispetto al terzo trimestre del 2023. Il fatturato ricorrente è cresciuto del 14%, raggiungendo 5,5 milioni di dollari. Il prodotto Rekor Discover™ è stato aggiunto alla Lista dei Prodotti Approvati del Dipartimento dei Trasporti della Florida, con l'implementazione che inizierà in tutti i distretti. Nonostante la crescita del fatturato, l'azienda ha riportato un aumento delle perdite operative a 12,9 milioni di dollari, in crescita del 31% rispetto al terzo trimestre del 2023. Per ottimizzare i costi, Rekor sta implementando riduzioni annuali fino a 15 milioni di dollari e ha eliminato l'opzione per ulteriori anticipi di 20 milioni di dollari nell'ambito dell'accordo con Yorkville Advisors. Gli obblighi di prestazione rimanenti dell'azienda sono diminuiti dell'11%, arrivando a 23,6 milioni di dollari al 30 settembre 2024.
Rekor Systems reportó los resultados financieros del tercer trimestre de 2024, con un aumento de ingresos brutos del 16%, alcanzando los 10,5 millones de dólares en comparación con el tercer trimestre de 2023. Los ingresos recurrentes crecieron un 14% hasta 5,5 millones de dólares. El producto Rekor Discover™ fue agregado a la Lista de Productos Aprobados del Departamento de Transporte de Florida, comenzando la implementación en todos los distritos. A pesar del crecimiento de ingresos, la empresa reportó pérdidas operativas que aumentaron a 12,9 millones de dólares, un 31% más que en el tercer trimestre de 2023. Para optimizar costos, Rekor está implementando reducciones anuales de hasta 15 millones de dólares y ha eliminado la opción de anticipos adicionales de 20 millones de dólares bajo el acuerdo con Yorkville Advisors. Las obligaciones de rendimiento restantes de la empresa disminuyeron un 11%, totalizando 23,6 millones de dólares al 30 de septiembre de 2024.
Rekor Systems는 2024년 3분기 재무 결과를 보고했으며, 총 수익이 2023년 3분기 대비 16% 증가하여 1,050만 달러에 도달했습니다. 반복 수익은 14% 증가하여 550만 달러에 이르렀습니다. Rekor Discover™는 플로리다 교통부의 승인 제품 목록에 추가되었으며, 모든 구역에서 구현이 시작될 예정입니다. 수익 성장에도 불구하고, 회사는 운영 손실이 1,290만 달러로 증가했으며, 이는 2023년 3분기보다 31% 증가한 수치입니다. 비용 최적화를 위해 Rekor는 연간 최대 1,500만 달러의 감축을 시행하고, Yorkville Advisors와의 계약에 따른 추가 2,000만 달러 선급금 옵션을 제거했습니다. 2024년 9월 30일 기준으로 회사의 잔여 성과 의무는 11% 감소하여 2,360만 달러에 이릅니다.
Rekor Systems a publié ses résultats financiers pour le troisième trimestre 2024, avec une augmentation du chiffre d'affaires brut de 16%, atteignant 10,5 millions de dollars par rapport au troisième trimestre 2023. Les revenus récurrents ont augmenté de 14% pour atteindre 5,5 millions de dollars. Le produit Rekor Discover™ a été ajouté à la Liste des Produits Approuvés du Département des Transports de Floride, avec une mise en œuvre débutant dans tous les districts. Malgré la croissance des revenus, l'entreprise a déclaré des pertes d'exploitation accrues de 12,9 millions de dollars, en hausse de 31% par rapport au troisième trimestre 2023. Pour optimiser les coûts, Rekor met en œuvre des réductions annuelles allant jusqu'à 15 millions de dollars et a éliminé l'option d'avances supplémentaires de 20 millions de dollars dans le cadre de l'accord avec Yorkville Advisors. Les obligations de performance restantes de l'entreprise ont diminué de 11%, s'élevant à 23,6 millions de dollars au 30 septembre 2024.
Rekor Systems hat die finanziellen Ergebnisse für das 3. Quartal 2024 veröffentlicht, mit einem Anstieg des Bruttoeinkommens um 16% auf 10,5 Millionen Dollar im Vergleich zum 3. Quartal 2023. Die wiederkehrenden Einnahmen stiegen um 14% auf 5,5 Millionen Dollar. Das Produkt Rekor Discover™ wurde der Liste der genehmigten Produkte des Verkehrsministeriums von Florida hinzugefügt, wobei die Implementierung in allen Bezirken beginnen wird. Trotz des Umsatzwachstums berichtete das Unternehmen von erhöhten Betriebskosten von 12,9 Millionen Dollar, was einem Anstieg von 31% im Vergleich zum 3. Quartal 2023 entspricht. Zur Kostensenkung führt Rekor jährliche Einsparungen von bis zu 15 Millionen Dollar ein und hat die Möglichkeit zusätzlicher 20 Millionen Dollar Vorschüsse im Rahmen der Vereinbarung mit Yorkville Advisors gestrichen. Die verbleibenden Leistungsansprüche des Unternehmens gingen bis zum 30. September 2024 um 11% auf 23,6 Millionen Dollar zurück.
- Revenue increased 16% YoY to $10.5 million in Q3 2024
- Recurring revenue grew 14% to $5.5 million
- Planned annual cost reduction of up to $15 million
- Secured placement on Florida DOT's Approved Product List
- Loss from operations increased 31% to $12.9 million in Q3 2024
- Adjusted Gross Margin declined to 44.0% from 52.6% in Q3 2023
- Performance obligations decreased 11% to $23.6 million
- Adjusted EBITDA loss widened to $9.2 million from $6.6 million in Q3 2023
Insights
Q3 2024 shows mixed results with
The expansion of Rekor Discover™ into multiple state DOT contracts represents significant market validation. Notable wins include Florida DOT certification, Texas DOT's legislative endorsement and New York's advancement to procurement phase. The NVIDIA partnership enhances AI capabilities, particularly in generative AI applications for data annotation and system calibration. However, government procurement delays remain a significant operational challenge, impacting revenue timing and necessitating cost restructuring. The transition from proof-of-concept to implementation phases in major states could accelerate growth, but execution risks remain high.
Company commences implementation of Rekor Discover™ in Florida after receiving FDOT-approved product list certification
Highlights
- Q3 2024 gross revenue increased
16% to$10.5 million compared to$9.1 million in Q3 2023 - Q3 recurring revenue increased
14% to$5.5 million compared to$4.8 million - Rekor Discover™ now on the Florida DOT Approved Product List, and deployments commenced
- Our CEO, David Desharnais, was inducted into the ITS America Board
COLUMBIA, Md., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Rekor Systems, Inc. (NASDAQ: REKR) ("Rekor" or the "Company"), a leader in developing and implementing advanced roadway intelligence technology, today announced its financial results for the quarter ending September 30, 2024.
Rekor Discover™ was recently added to the Florida DOT’s Approved Product List and is now beginning implementation across all Florida DOT districts simultaneously. In October, we amended the Pre-Paid advance Agreement with an affiliate of Yorkville Global Advisors, LP and eliminated the option for additional advances to the Company of
- Rekor Highlighted by Texas DOT: The Texas Department of Transportation presented the Rekor Command™ solution to the Texas House Legislature as a model for the future of roadway management. Rekor's deployment and its successful outcomes were also showcased in a recent video featuring testimonials from the department's senior leaders.
- New York Moves to Procurement: The New York State Department of Transportation has advanced Rekor Discover™ from the proof-of-concept stage to the procurement phase. This initial implementation establishes a foundation for Rekor to collaborate with various engineering and construction firms, inviting bids for numerous data collection sites across the state.
- New Mexico Selects Rekor for AI Count Class and Speed: In New Mexico, Rekor Discover™ has been selected to replace the side-firing radars on major roadwork along I-25. This decision highlights Rekor's ability to enhance roadside intelligence and monitor critical infrastructure as part of New Mexico’s
$200 million improvement initiative. - Partnership with Goldwings Establishes Hawaiian Presence: Rekor Discover™ is now available to the communities in Hawaii with high demand for roadway intelligence through a new partnership with Goldwings.
- Nvidia Case Study: NVIDIA recently published a case study highlighting Rekor's integration of its comprehensive accelerated computing platform for roadway intelligence. By leveraging NVIDIA's AI technologies, Rekor is advancing new generative AI applications, including enhanced internal data annotation, streamlined workflows, and more effective calibration and configuration of systems.
"Our third quarter financial results reflect the delays in revenue realization we recently experienced due to the variability we've previously noted in servicing government customers. Consequently, we are aggressively optimizing our cost structure and accelerating our path to achieve positive cash flow in 2025. To stay resilient in this environment, we’ve taken the necessary steps to adjust to the unpredictability of government procurement timelines and trim our expenses. This expense realignment has been designed to achieve an annual reduction in costs of up to
Our President and CEO, David Desharnais, was recently appointed to the Board of ITS America. “I am truly honored to be inducted into the ITS America Board of Directors and to join forces with visionary leaders from both the public and private sectors to shape the future of transportation,” said Mr. Desharnais. “ITS America is leading the way in transforming the movement of people and goods, championing innovation, and advancing intelligent transportation systems to build safer, more resilient, and connected communities. I look forward to contributing to this bold mission and helping to accelerate the adoption of groundbreaking solutions that will shape the future of our transportation infrastructure."
Three and Nine Months Ended September 30, 2024 Financial Results
This section highlights the changes for the three and nine months ended September 30, 2024, compared to the three and nine months ended September 30, 2023.
Revenues
| Three Months Ended September 30, | Change | Nine Months Ended September 30, | Change | ||||||||||||||||||||
| (Dollars in thousands) | 2024 | 2023 | $ | % | 2024 | 2023 | $ | % | |||||||||||||||
| Revenue | $ | 10,546 | $ | 9,119 | $ | 1,427 | 16 | % | $ | 32,751 | $ | 23,867 | $ | 8,884 | 37 | % | |||||||
The increase in revenue for the three and nine months ended September 30, 2024, compared to the three and nine months ended September 30, 2023, was primarily attributable to our Urban Mobility revenue stream which consists of revenue derived from roadway data aggregation activities. During the three and nine months ended September 30, 2024, revenue attributable to ATD was
Cost of Revenue, excluding Depreciation and Amortization
| Three Months Ended September 30, | Change | Nine Months Ended September 30, | Change | ||||||||||||||||||||
| (Dollars in thousands) | 2024 | 2023 | $ | % | 2024 | 2023 | $ | % | |||||||||||||||
| Cost of revenue, excluding depreciation and amortization | $ | 5,903 | $ | 4,320 | $ | 1,583 | 37 | % | $ | 16,964 | $ | 11,319 | $ | 5,645 | 50 | % | |||||||
For the three and nine months that ended September 30, 2024, the cost of revenue, excluding depreciation and amortization, increased compared to the corresponding prior periods primarily due to an increase in personnel and other direct costs, such as hardware, that were incurred to support our increase in revenue. Additionally, during the three and nine months ended September 30, 2024,
Loss from Operations
| Three Months Ended September 30, | Change | Nine Months Ended September 30, | Change | ||||||||||||||||||||
| (Dollars in thousands) | 2024 | 2023 | $ | % | 2024 | 2023 | $ | % | |||||||||||||||
| Loss from operations | $ | (12,854) | $ | (9,803) | $ | (3,051) | 31 | % | $ | (35,845) | $ | (32,770) | $ | (3,075) | 9 | % | |||||||
Loss from operations for the three and nine months ended September 30, 2024, compared to the three and nine months ended September 30, 2023, increased primarily due to additional costs of ATD including the additional depreciation and amortization of intangible assets associated with the acquisition.
Additional Key Performance Indicators and Non-GAAP Measures
Performance Obligations
As of September 30, 2024, the Company had approximately
Adjusted Gross Profit and Adjusted Gross Margin
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (Dollars in thousands, except percentages) | (Dollars in thousands, except percentages) | ||||||||||||||
| Revenue | $ | 10,546 | $ | 9,119 | $ | 32,751 | $ | 23,867 | |||||||
| Cost of revenue, excluding depreciation and amortization | 5,903 | 4,320 | 16,964 | 11,319 | |||||||||||
| Adjusted Gross Profit | $ | 4,643 | $ | 4,799 | $ | 15,787 | $ | 12,548 | |||||||
| Adjusted Gross Margin | 44.0 | % | 52.6 | % | 48.2 | % | 52.6 | % | |||||||
Adjusted Gross Margin for the three and nine months ended September 30, 2024, decreased compared to the three and nine months ended September 30, 2023. The fluctuation in Adjusted Gross Margin is typically correlated to the mix of hardware and software sales as well as service-type work. Typically, our software sales carry a higher Adjusted Gross Margin.
EBITDA and Adjusted EBITDA
The Company calculates EBITDA as net loss before interest, taxes, depreciation, and amortization. The Company calculates Adjusted EBITDA as net loss before interest, taxes, depreciation, and amortization, adjusted for (i) impairment of intangible assets, (ii) loss on extinguishment of debt, (iii) stock-based compensation, (iv) losses or gains on sales of subsidiaries, and (v) other unusual or non-recurring items. EBITDA and Adjusted EBITDA are not measurements of financial performance or liquidity under accounting principles generally accepted in the U.S. ("U.S. GAAP") and should not be considered as an alternative to net earnings or cash flow from operating activities as indicators of our operating performance or as a measure of liquidity or any other measures of performance derived in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA are presented because we believe they are frequently used by securities analysts, investors, and other interested parties in the evaluation of a company's ability to service and/or incur debt. However, other companies in our industry may calculate EBITDA and Adjusted EBITDA differently than we do.
The following table sets forth the components of the EBITDA and Adjusted EBITDA for the periods included (dollars in thousands):
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net loss | $ | (12,646 | ) | $ | (10,566 | ) | $ | (41,055 | ) | $ | (34,361 | ) | |||
| Interest | 496 | 906 | 2,094 | 2,576 | |||||||||||
| Depreciation and amortization | 2,399 | 1,963 | 7,075 | 5,925 | |||||||||||
| EBITDA | $ | (9,751 | ) | $ | (7,697 | ) | $ | (31,886 | ) | $ | (25,860 | ) | |||
| Share-based compensation | $ | 1,148 | $ | 1,081 | $ | 3,430 | $ | 3,237 | |||||||
| Loss (gain) on extinguishment of debt | - | - | 4,693 | (527 | ) | ||||||||||
| Loss on offering costs - Prepaid Advance | 888 | - | 888 | - | |||||||||||
| Gain on the sale of Global Public Safety | (1,500 | ) | - | (1,500 | ) | - | |||||||||
| Adjusted EBITDA | $ | (9,215 | ) | $ | (6,616 | ) | $ | (24,375 | ) | $ | (23,150 | ) | |||
Rekor has scheduled a conference call to discuss the third quarter 2024 results on Thursday, November 14, 2024, at 4:30 P.M. (Eastern).
Any person interested in participating in the call should please dial in approximately 10 minutes prior to the start of the call using the following information:
North America: 877-407-8037/ 201-689-8037
International:
Click here for participant International Toll-Free access numbers
Webcast : https://event.choruscall.com/mediaframe/webcast.html?webcastid=pzPTSDpm
REPLAY INFORMATION
A replay will be made available online approximately two hours following the live call for a period of two weeks. To access the replay, use the following numbers:
Replay Dial-In: 877-660-6853 / 201-612-7415
Access ID: 13748129
An archived webcast will also be available to replay this conference call directly from the Company's website under Investors, Events & Presentations.
About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ: REKR) is a leader in developing and implementing state-of-the-art roadway intelligence systems using AI-enabled computer vision and machine learning. As a pioneer in the implementation of digital infrastructure, Rekor is collecting, connecting, and organizing the world's mobility data – laying the foundation for a digitally-enabled operating system for the roadway. With our Rekor One® Roadway Intelligence Engine at the core of our technology, we aggregate and transform trillions of data points into intelligence through proprietary computer vision, machine learning, and big data analytics that power our platforms and applications. Our solutions provide actionable insights that give governments and businesses a comprehensive picture of roadways while providing a collaborative environment that drives the world to be safer, greener, and more efficient. To learn more, please visit our website: https://rekor.ai, and follow Rekor on social media on LinkedIn, X (formerly Twitter), Threads, and Facebook.
Forward-Looking Statements
This press release and its links and attachments contain 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, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size and shape of the global market for ALPR systems. 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. 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.
Company Contact:
Rekor Systems, Inc.
Eyal Hen
Chief Financial Officer
Phone: +1 (443) 545-7260
ehen@rekor.ai
Media & Investor Relations Contact:
Rekor Systems, Inc.
Charles Degliomini
ir@rekor.ai
| REKOR SYSTEMS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except share data) | |||||||
| September 30, 2024 | December 31, 2023 | ||||||
| (Unaudited) | |||||||
| ASSETS | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 10,602 | $ | 15,385 | |||
| Restricted cash | 365 | 328 | |||||
| Accounts receivable, net | 6,728 | 4,955 | |||||
| Inventory | 3,944 | 3,058 | |||||
| Note receivable, current portion | 340 | 340 | |||||
| Other current assets | 1,238 | 1,270 | |||||
| Total current assets | 23,217 | 25,336 | |||||
| Long-term assets | |||||||
| Property and equipment, net | 12,693 | 13,188 | |||||
| Right-of-use operating lease assets, net | 9,283 | 9,584 | |||||
| Right-of-use financing lease assets, net | 2,494 | 1,989 | |||||
| Goodwill | 24,313 | 20,593 | |||||
| Intangible assets, net | 25,830 | 17,239 | |||||
| Note receivable, long-term | 227 | 482 | |||||
| Deposits | 3,138 | 3,740 | |||||
| Total long-term assets | 77,978 | 66,815 | |||||
| Total assets | $ | 101,195 | $ | 92,151 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities | |||||||
| Accounts payable and accrued expenses | 5,773 | 5,139 | |||||
| Notes payable, current portion | 1,000 | 1,000 | |||||
| Loan payable, current portion | 78 | 75 | |||||
| Prepaid Advance liability, at fair value | 11,621 | - | |||||
| Lease liability operating, short-term | 1,914 | 1,261 | |||||
| Lease liability financing, short-term | 855 | 547 | |||||
| Contract liabilities | 3,200 | 3,604 | |||||
| Liability for ATD Holdback Shares, at fair value | 698 | - | |||||
| Other current liabilities | 5,467 | 5,610 | |||||
| Total current liabilities | 30,606 | 17,236 | |||||
| Long-term Liabilities | |||||||
| Notes payable, long-term | - | 1,000 | |||||
| 2023 Promissory Notes, net of debt discount of | - | 2,988 | |||||
| 2023 Promissory Notes - related party, net of debt discount of | - | 6,351 | |||||
| Series A Prime Revenue Sharing Notes, net of debt discount of | 9,704 | 9,553 | |||||
| Series A Prime Revenue Sharing Notes - related party, net of debt discount of | 4,852 | 4,777 | |||||
| Loan payable, long-term | 214 | 273 | |||||
| Lease liability operating, long-term | 12,486 | 13,445 | |||||
| Lease liability financing, long-term | 1,151 | 1,057 | |||||
| Contract liabilities, long-term | 1,196 | 1,449 | |||||
| Deferred tax liability | 65 | 65 | |||||
| Other non-current liabilities | 587 | 587 | |||||
| Total long-term liabilities | 30,255 | 41,545 | |||||
| Total liabilities | 60,861 | 58,781 | |||||
| Commitments and contingencies (Note 8) | |||||||
| Stockholders' equity | |||||||
| Preferred stock, | - | - | |||||
| Common stock, | 9 | 7 | |||||
| Treasury stock, 159,520 and 96,508 shares as of September 30, 2024 and December 31, 2023, respectively. | (711 | ) | (522 | ) | |||
| Additional paid-in capital | 280,774 | 232,568 | |||||
| Accumulated deficit | (239,738 | ) | (198,683 | ) | |||
| Total stockholders’ equity | 40,334 | 33,370 | |||||
| Total liabilities and stockholders’ equity | $ | 101,195 | $ | 92,151 | |||
| REKOR SYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except share data) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue | $ | 10,546 | $ | 9,119 | $ | 32,751 | $ | 23,867 | |||||||
| Cost of revenue, excluding depreciation and amortization | 5,903 | 4,320 | 16,964 | 11,319 | |||||||||||
| Operating expenses: | |||||||||||||||
| General and administrative expenses | 8,637 | 6,871 | 23,669 | 19,941 | |||||||||||
| Selling and marketing expenses | 1,721 | 1,498 | 6,156 | 5,441 | |||||||||||
| Research and development expenses | 4,740 | 4,270 | 14,732 | 14,011 | |||||||||||
| Depreciation and amortization | 2,399 | 1,963 | 7,075 | 5,925 | |||||||||||
| Total operating expenses | 17,497 | 14,602 | 51,632 | 45,318 | |||||||||||
| Loss from operations | (12,854 | ) | (9,803 | ) | (35,845 | ) | (32,770 | ) | |||||||
| Other income (expense): | |||||||||||||||
| (Loss) gain on extinguishment of debt | - | - | (4,693 | ) | 527 | ||||||||||
| Interest expense, net | (496 | ) | (906 | ) | (2,094 | ) | (2,576 | ) | |||||||
| Gain on remeasurement of ATD Holdback Shares | 192 | - | 937 | - | |||||||||||
| Loss on offering costs - Prepaid Advance | (888 | ) | - | (888 | ) | - | |||||||||
| Gain on the sale of Global Public Safety | 1,500 | - | 1,500 | - | |||||||||||
| Other (expense) income | (100 | ) | 143 | 28 | 458 | ||||||||||
| Total other income (expense) | 208 | (763 | ) | (5,210 | ) | (1,591 | ) | ||||||||
| Net loss | $ | (12,646 | ) | $ | (10,566 | ) | $ | (41,055 | ) | $ | (34,361 | ) | |||
| Loss per common share | $ | (0.14 | ) | $ | (0.16 | ) | $ | (0.49 | ) | $ | (0.56 | ) | |||
| Weighted average shares outstanding | |||||||||||||||
| Basic and diluted | 89,285,197 | 66,671,622 | 84,397,568 | 61,125,035 | |||||||||||
FAQ
What was Rekor Systems (REKR) revenue growth in Q3 2024?
How much cost reduction is Rekor Systems (REKR) planning to implement?
What was Rekor Systems (REKR) operating loss in Q3 2024?
What is the status of Rekor Discover™ in Florida as of Q3 2024?
