Latest news with #RekorSystems
Yahoo
3 days ago
- Automotive
- Yahoo
Sun Belt State Transportation Agency to Deploy 150 Rekor Discover® Systems Under Rekor's Data-as-a-Service Model
Rekor Discover® to Replace Outdated Roadway Intrusive Technology with FHWA-Compliant AI That Advances Transportation Planning and Operations COLUMBIA, Md., June 06, 2025 (GLOBE NEWSWIRE) -- Rekor Systems, Inc. (NASDAQ: REKR) (the "Company), a leader in developing and implementing state-of-the-art roadway intelligence technology, today announced a transformative deployment with a Sun Belt state transportation agency. As part of a new state initiative to upgrade its planning and operations capabilities, Rekor will deploy 150 Rekor Discover® systems under a one-year Data-as-a-Service contract valued at $1.2 million. The Company expects all 150 systems to be installed within 60 days. The program will enable the agency to use Rekor's Roadway Data-as-a-Service model to modernize traffic data collection and monitoring. The Rekor Discover® platform complies with Federal Highway Administration requirements and uses AI-enabled roadside sensors to generate detailed, per-vehicle data using proprietary privacy protection techniques. This eliminates the need to rely on intrusive in-road sensors that create dangerous and disruptive traffic conditions and pose roadway worker safety risks when they fail or need to be maintained. "This marks a pivotal milestone in the evolution of Data-as-a-Service for U.S. transportation agencies, led by forward-thinking departments," said Mark Phillips, General Manager of Rekor Discover®. "Our vision is to replace the tens of thousands of single-function roadway devices currently in use worldwide with a scalable, AI-powered platform that delivers richer, safer, and more actionable traffic insights. International transportation authorities are increasingly looking to this model, making this a national achievement and a foundational step toward global transformation." In addition to this significant expansion, Rekor Discover® is being adopted by many transportation agencies nationwide, with installations in states including Arizona, Colorado, Georgia, New Mexico, New York, Florida, and South Carolina. With a significant and expanding footprint already in place, Rekor Discover® is demonstrating strong momentum in the U.S. market, and international transportation agencies are beginning to take notice, signaling the potential for broader global expansion. A Global Vision for Data-as-a-ServiceThe potential of Rekor Discover® goes far beyond the U.S. The International Road Federation's World Road Statistics shows that more than 60 countries actively collect traffic data to improve safety and transportation planning. With proven scalability, U.S.-based AI, and non-intrusive installation, Rekor is positioned to serve domestic and international markets, seeking modern, cost-effective alternatives to legacy traffic technologies. Safer, Smarter, and Scalable Transportation Planning and OperationsRekor Discover® and its non-intrusive Edge Series systems represent a significant leap forward in traffic planning and operations. Unlike traditional methods such as piezo sensors and rubber tubes, which are prone to failure in harsh conditions and require roadway intrusive installation, Rekor's AI-based solution is installed without road closures, posing no risk to workers or disruption to traffic. It also enables accurate roadway data collection in locations previously considered too hazardous or congested for traditional methods, where side-firing radar systems are often limited by obstructions, placement restrictions, or reduced precision in complex traffic environments. About Rekor Systems, 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: 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 contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Rekor Systems, Incthat involve substantial risks and uncertainties, including particularly statements regarding our future results of operations and financial position, business strategy, prospective products and services, timing and likelihood of success, plans and objectives of management for future operations and future results of current and anticipated products and services. These statements involve uncertainties, such as known and unknown risks, and are dependent on other important factors that may cause our actual results, performance, or achievements to be materially different from the future results, performance or achievements we express or imply. 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," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these terms or other similar expressions. These forward-looking statements speak only as of the date of this Quarterly Report and are subject to a number of risks, uncertainties and assumptions described under the sections in our Annual Report on Form 10-K for the year ended December 31, 2024 entitled "Risk Factors" and elsewhere in our Quarterly Reports on Form 10-Q. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made in this Press Release and in other documents we file from time to time with the SEC that disclose risks and uncertainties that may affect our business. The forward-looking statements in this Press Release do not reflect the potential impact of any divestiture, merger, acquisition, or other business combination that had not been completed as of the date of this filing. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control, you should not rely on these forward-looking statements as predictions of future events. 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. This press release and its links and attachments contain statements concerning Rekor Systems, Inc. Media & Investor Relations Contact:Rekor Systems, Degliominiir@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
17-05-2025
- Business
- Business Insider
Analysts' Top Technology Picks: Rekor Systems (REKR), DHI Group (DHX)
There's a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Rekor Systems (REKR – Research Report) and DHI Group (DHX – Research Report) with bullish sentiments. Confident Investing Starts Here: Rekor Systems (REKR) Northland Securities analyst Michael Latimore maintained a Buy rating on Rekor Systems on May 15 and set a price target of $4.00. The company's shares closed last Friday at $1.08, close to its 52-week low of $0.78. According to Latimore is a 4-star analyst with an average return of 5.2% and a 44.8% success rate. Latimore covers the Technology sector, focusing on stocks such as Gorilla Technology Group Inc., SoundHound AI, Inc Class A, and Synchronoss Technologies. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Rekor Systems. DHI Group (DHX) In a report issued on May 15, Gary Prestopino from Barrington maintained a Buy rating on DHI Group, with a price target of $11.50. The company's shares closed last Friday at $1.93. According to Prestopino is a 5-star analyst with an average return of 13.7% and a 54.4% success rate. Prestopino covers the Technology sector, focusing on stocks such as CCC Intelligent Solutions Holdings, Methode Electronics, and Cantaloupe. The word on The Street in general, suggests a Strong Buy analyst consensus rating for DHI Group with a $4.67 average price target, implying a 149.7% upside from current levels. In a report issued on May 5, Lake Street also maintained a Buy rating on the stock with a $3.50 price target.
Yahoo
15-05-2025
- Business
- Yahoo
Rekor Systems Inc (REKR) Q1 2025 Earnings Call Highlights: Strategic Restructuring and ...
Revenue: $9.2 million for Q1 2025, a 6% decrease compared to Q1 2024. Recurring Revenue: $5.1 million, a 3% increase from Q1 2024. Adjusted Gross Margin: 48.2%, up from 46% in Q1 2024. Adjusted EBITDA Loss: $7.4 million, improved from $9.4 million in Q1 2024. Operating Expenses: Significantly reduced due to cost optimization initiatives. Warning! GuruFocus has detected 6 Warning Signs with REKR. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Rekor Systems Inc (NASDAQ:REKR) is implementing a new general manager structure to enhance customer focus and accelerate product adoption, which is expected to lead to sustainable revenue growth. The company has achieved a $2 million improvement in adjusted EBITDA loss due to significant reductions in operating expenses. Rekor Systems Inc (NASDAQ:REKR) reported stability in recurring revenue, which increased by 3% from Q1 2024, indicating a steady income stream. The company anticipates continued gross margin expansion, supported by a growing share of SaaS-based revenue and increased contributions from pay-for-data contracts. Rekor Systems Inc (NASDAQ:REKR) is focusing on international market expansion, leveraging the expertise of new leadership with significant global experience. Rekor Systems Inc (NASDAQ:REKR) reported a 6% decrease in revenue for Q1 2025 compared to the same quarter last year, impacted by adverse weather conditions and delays in contract signings. The company's revenue was affected across all three business segments, with significant headwinds from budget constraints and uncertainties surrounding the new administration. Despite improvements, the company still reported an adjusted EBITDA loss of $7.4 million for Q1 2025. Rekor Systems Inc (NASDAQ:REKR) acknowledged that its prior approach was not sufficiently grounded in revenue-driven execution, leading to a need for restructuring. The company faces challenges in the procurement environment in the U.S., which has been difficult, affecting sales growth. Q: Could you give some color on the pipeline for Scout and how are the bookings in 1Q for Scout? A: Since launching Scout in 2019, it has grown by more than 700% in revenue. We dropped the ball with it a bit in 2024, but part of our reorganization is refocusing on Scout, especially on the commercial side. You will see more activity with Scout over the next 30 to 60 days. - Robert Berman, CEO Q: Are there any partnerships that you're working on similar to SoundThinking last year? A: We have some partnerships in discussion, primarily with Scout. With the addition of Mark Phillips, we are changing our sales methodology to better penetrate markets with Discover, which is now fully productized. - Robert Berman, CEO Q: Can you provide more insight into the potential for double-digit organic sales growth this year? A: We are seeing broad adoption with Discover, and as we refine our pricing structure and go-to-market strategy, we expect substantial growth. We are learning to align our sales approach with how DOTs buy, which should drive more growth. - Robert Berman, CEO Q: How much of the $15 million annualized cost savings have you implemented this year? A: The $15 million savings will be realized throughout the year, not just in Q1. We are focusing on fully productized offerings and reducing R&D expenses for products without near-term revenue potential. - Robert Berman, CEO and Eyal Hen, CFO Q: Is there a way to monetize the 20 trillion data points you aggregate for roadway intelligence? A: We have three healthy product platforms: Discover, Command, and Scout. Our focus is on selling what we have, which is in demand. We can always import additional data and provide more services, but our current focus is on driving revenue and growth with existing products. - Robert Berman, CEO Q: Are you already selling in international markets, and is there demand there? A: Yes, there is demand internationally. Mark Phillips is currently in Europe for a pilot installation. Our products are box-ready, and we are focusing on international markets where there is demand for our technology. - Robert Berman, CEO Q: Can you provide an update on the partnership for PlateRanger with SoundThinking? A: We have a contract with SoundThinking that guarantees revenue for 2025, 2026, and 2027. They are focused on the law enforcement market, while we focus on the commercial side. Early indications suggest they will be successful. - Robert Berman, CEO Q: Are you still focused on the QSR sector, and is there potential for revenue there? A: Yes, QSRs are part of our focus. We see a lot of value in the data we produce from Scout for commercial customers, including QSRs, big box stores, and other retail businesses. Our focus is now on the commercial side. - Robert Berman, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Business Insider
15-05-2025
- Business
- Business Insider
William Blair Sticks to Its Buy Rating for Rekor Systems (REKR)
William Blair analyst Louie DiPalma maintained a Buy rating on Rekor Systems (REKR – Research Report) today. The company's shares closed today at $1.02. Confident Investing Starts Here: Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter According to TipRanks, DiPalma is an analyst with an average return of -13.1% and a 58.39% success rate. DiPalma covers the Technology sector, focusing on stocks such as Palantir Technologies, Motorola Solutions, and Parsons. The analyst consensus on Rekor Systems is currently a Moderate Buy rating. Based on Rekor Systems' latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $13.28 million and a GAAP net loss of $20.36 million. In comparison, last year the company earned a revenue of $11.07 million and had a GAAP net loss of $9.35 million
Yahoo
15-05-2025
- Business
- Yahoo
Rekor Systems, Inc. (REKR) Reports Q1 Loss, Lags Revenue Estimates
Rekor Systems, Inc. (REKR) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.23 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -25%. A quarter ago, it was expected that this company would post a loss of $0.09 per share when it actually produced a loss of $0.22, delivering a surprise of -144.44%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Rekor Systems , which belongs to the Zacks Internet - Software industry, posted revenues of $9.2 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 20.30%. This compares to year-ago revenues of $9.78 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Rekor Systems shares have lost about 34.6% since the beginning of the year versus the S&P 500's gain of 0.1%. While Rekor Systems has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Rekor Systems: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.07 on $13.14 million in revenues for the coming quarter and -$0.25 on $51.67 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Lightspeed Commerce Inc. (LSPD), another stock in the same industry, has yet to report results for the quarter ended March 2025. The results are expected to be released on May 22. This company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +66.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Lightspeed Commerce Inc.'s revenues are expected to be $253.66 million, up 10.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rekor Systems, Inc. (REKR) : Free Stock Analysis Report Lightspeed Commerce Inc. (LSPD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
