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.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

David Desharnais

Chief Executive Officer

REKR · Rekor Systems, Inc.

Effective: 2024-05-16
Filed: May 15, 2024, 7:59 PM ET

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.

Role change

Robert A. Berman

Chief Executive Officer

REKR · Rekor Systems, Inc.

Effective: 2024-05-16
Successor: David Desharnais
Filed: May 15, 2024, 7:59 PM ET

Mr. Desharnais will succeed Robert A. Berman, who will cease to serve as the Chief Executive Officer of the Company effective May 16, 2024.

Appointed

Viraj Mehta

Executive Director

REKR · Rekor Systems, Inc.

Effective: 2024-05-16
Filed: May 15, 2024, 7:59 PM ET

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.

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

1047 earnings releases filed in the last 30 days. Browse all earnings releases →

Rekor Systems, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-24-006407

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.