Rekor reports 2022 revenue up 72% to $19.9M; net loss swells to $83.5M on $34.8M goodwill impairment

Rekor Systems, Inc.

Gross revenue (excl. ATSE) $19.9M, +72% YoY; recurring revenue $13.1M, +182% YoY.
GAAP net loss from continuing ops $83.5M vs $27.4M loss in 2021; includes $34.8M goodwill impairment.
Adjusted EBITDA loss $37.4M vs $22.8M loss in 2021; operating expenses rose but Q4 cost cuts of $3.95M.
Performance obligations $21.4M (+45% YoY); total contract value of new contracts $22.0M (+146% YoY).
Closed $15M senior secured notes in Jan 2023; sold ATSE unit; acquired Southern Traffic Services in June 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Rekor Systems, Inc. reported fiscal year ended December 31, 2022 results: revenue $19,920,000.

Period: fiscal year ended December 31, 2022
Revenue: $19,920,000
Result: reported results

Exact text from the filing

Gross revenue for the year ended December 31, 2022, increased $8,345,000 or 72% to $19,920,000, compared to $11,575,000 for the year ended December 31, 2021.

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Source: SEC EDGAR

accession 0001654954-23-003601

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