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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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End-of-Day
-0.36%
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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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-2.88%
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Rekor Systems announces availability of Rekor Command Platform in AWS Marketplace
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-1.86%
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Rekor Systems is a trailblazer in roadway intelligence, with potential for significant growth in the AI industry. The transportation infrastructure market is expected to grow, and Rekor's advanced technology positions them well to close the investment gap. Insider transactions indicate confidence in the company, and they have seen a substantial increase in contracts and revenue. With the projected growth of AI and the need for infrastructure updates, Rekor is poised for success.
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3.32%
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The AI industry's estimated market size is expected to increase by 788.64% to reach an unprecedented $1.87 trillion by 2030, presenting a once-in-a-generation opportunity for investors. Rekor Systems reported significant growth in revenue, performance obligations, recurring revenue, and total contract value, with gross revenue of $8.6 million in Q2 2023, representing a 132% increase over the same period last year. Adjusted EBITDA improved significantly, narrowing the loss from $12.0 million in Q2 2022 to a loss of $7.2 million in Q2 2023.
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Rhea-AI Sentiment
End-of-Day
3.29%
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Rhea-AI Summary
Rekor Systems, Inc. announced its financial results for Q2 2023, showing consecutive quarter-over-quarter revenue growth. Gross revenue increased 132% to $8.6 million, recurring revenue increased 178% to $5.8 million, and performance obligations increased 48% to $31.8 million. Total contract value signed during Q2 was $17.6 million, a 31% increase from Q1 and a 411% increase from the same quarter last year. Adjusted EBITDA improved from a loss of $12.0 million in Q2 2022 to a loss of $7.2 million in Q2 2023.
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-9.16%
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Rekor Systems, a trusted global authority in developing and delivering roadway intelligence using state-of-the-art AI and machine learning, announced the launch of their Vehicle Insite application as part of its Rekor Discover platform. The breakthrough AI-driven roadway intelligence solution provides vehicle and business insights for brick-and-mortar organizations, including shopping malls, hotels, theme parks, destination resorts, casinos, and more.
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2.39%
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Rekor Systems, Inc. (NASDAQ:REKR) announces a strategic academic collaboration with Tel Aviv University's LAMBDA to advance roadway intelligence using AI and machine learning. The partnership aims to optimize incident detection and response on roadways, strengthening the global ecosystem of technology and solution providers in the roadway intelligence domain.
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Rhea-AI Sentiment
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-2.14%
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-16.08%
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Rekor Systems, Inc.
Nasdaq:REKR
REKR Rankings
REKR Stock Data
143.35M
64.28M
7.19%
45.91%
14.88%
Payroll Services
Professional, Scientific, and Technical Services
United States of America
COLUMBIA
About REKR
rekor systems, inc., through its subsidiaries, provides vehicle identification and management systems based on artificial intelligence in the united states, canada, and internationally. the company operates in two segments, technology and professional services. it offers openalpr software, a vehicle recognition software. the company provides vehicle recognition and data management products and services; traffic safety systems, including hardware that identifies red light and school safety zone traffic violations, as well as software, which captures and offers forensic quality images and data, and supports citation management services; and enterprise parking enforcement solutions. it also offers government contracting support services, such as market intelligence and opportunity identification, capture and strategic advisory, proposal strategy and development, teaming support, and managed human capital. in addition, the company provides specialty staffing services, including specialized