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Rekor Systems, Inc. Announces Strong Second Quarter 2024 Financial Results, Secures Facility for Up to $35 Million in Financing, Accelerates Customer Adoption Across All Business Segments
Rekor Systems, Inc. (NASDAQ:REKR) announced strong Q2 2024 financial results, highlighting a 45% increase in gross revenue to $12.4 million compared to Q2 2023.
The company secured a facility for up to $35 million in financing, with a $15 million prepaid advance already received.
Rekor also reported improved Adjusted EBITDA, reducing losses from $7.2 million in Q2 2023 to $5.8 million in Q2 2024.
Key achievements include a $1.5 million contract with Maryland DOT for Strategic Corridor Monitoring and multi-year contracts with TxDOT, Ohio DOT, and Pitkin County, Colorado, valued at up to $15 million.
Key achievements include a $1.5 million contract with Maryland DOT for Strategic Corridor Monitoring and multi-year contracts with TxDOT, Ohio DOT, and Pitkin County, Colorado, valued at up to $15 million.
The company expanded adoption of its Rekor Command™ platform across multiple states, enhancing traffic management capabilities.
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