Rekor Q1 revenue surges 108% to $6.2M; net loss flat at $12.7M, adjusted EBITDA -$9.4M

Rekor Systems, Inc.

Gross revenue $6.2M (+108% YoY); recurring revenue $4.2M (+148% YoY) from SaaS and data.
Performance obligations $24.3M (+14% from Dec 2022); new contracts won $12.1M (+692% YoY).
Net loss from operations $16.0M vs $14.1M; net loss from continuing ops $12.7M flat YoY.
Adjusted EBITDA loss $9.38M vs $9.40M; CFO cites cost reduction progress.
Closed $15M senior secured notes and $10M registered direct offering in Q1 2023.

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 0.9

Rekor Systems, Inc. reported the first quarter ended March 31, 2023 results: revenue $6,185,000.

Period: the first quarter ended March 31, 2023
Revenue: $6,185,000
Result: reported results

Exact text from the filing

Gross revenue for the three months ended March 31, 2023, increased $3,210,000 or 108% to $6,185,000

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Rekor Systems, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-006564

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