8-K
filed May 15, 2024, 7:59 PM ET
ticker REKR
CIK 0001697851
earnings
confidence high
sentiment neutral
materiality 0.75
Rekor Q1 revenue up 58% to $9.8M, net loss widens; Desharnais named CEO
Rekor Systems, Inc.
- Q1 2024 revenue of $9.8M, up 58% YoY; recurring revenue of $5.0M, up 18% YoY.
- Net loss of $17.3M vs $13.3M in Q1 2023; adjusted EBITDA improved to -$7.4M from -$7.9M.
- David Desharnais appointed CEO effective May 16, succeeding founder Robert Berman who remains Executive Chairman.
- Viraj Mehta, Arctis Global CIO (11.6% holder), appointed Executive Director to Board.
- Closed All Traffic Data acquisition in Jan 2024; completed $26.4M public offering in Feb 2024.
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 financial results for first quarter ended March 31, 2024.
- Period
- first quarter ended March 31, 2024
- Result
- reported results
Exact text from the filing
On May 15, 2024, Rekor Systems, Inc. (the “Company”) issued a press release summarizing the Company’s financial results for the first quarter ended March 31, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Desharnais was appointed as Chief Executive Officer at Rekor Systems, Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
On May 14, 2024, the board of directors (the “Board”) of the Company appointed David Desharnais as Chief Executive Officer of the Company, effective May 16, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert A. Berman changed role as Chief Executive Officer at Rekor Systems, Inc..
- Action
- ceased to serve as
- Role
- Chief Executive Officer
Exact text from the filing
Mr. Desharnais will succeed Robert A. Berman, who will cease to serve as the Chief Executive Officer of the Company effective May 16, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Viraj Mehta was appointed as Executive Director at Rekor Systems, Inc..
- Action
- appointed
- Role
- Executive Director
Exact text from the filing
On May 14, 2024, the Board approved an increase to the size of the Board by one seat, to ten members, and appointed Viraj Mehta to fill the resulting vacancy, effective as of May 16, 2024.
View on SEC.gov
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