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REKOR INVESTOR NOTICE: Investors With Substantial Losses Have Opportunity to Lead the Rekor Systems, Inc Class Action Lawsuit - REKR
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Waukesha County Park Systems Selects Rekor One™
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Waukesha County Park Systems Selects Rekor One™
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Shares of
Rekor Systems (NASDAQ:REKR) fell more than 20% on Tuesday following the company s quarterly earnings release. Investors were already nervous about the company heading into earnings season, and the results did little to reassure the skeptics.
So what
Rekor makes license plate recognition systems and traffic monitoring devices. After markets closed Monday the company reported a first-quarter loss of $0.15 per share on revenue of $4.22 million, a mixed result when compared to analyst expectations for a $0.09-per-share loss on revenue of $4 million.
Image source: Getty Images.
Revenue was up 164% from $1.6 million in the first quarter of 2020, but higher-than-expected operating expenses ate into results. CEO Robert A. Berman said in a statement the results demonstrate substantial ongoing year-to-year improvement, with growth accelerating in both commercial and government sectors.
Rekor Systems, Inc. Reports First Quarter 2021 Financial Results
ACCESSWIRE
Highlights:
First quarter 2021 gross revenue increased 164% to $4.2 million as compared to $1.6 million in the first quarter of 2020
Raised $70.1 million in net cash proceeds during February 2021 with an underwritten public offering
COLUMBIA, MD / ACCESSWIRE / May 10, 2021 /Rekor Systems, Inc, (NASDAQ:REKR) ( Rekor ), a provider of real-time roadway, customer and public safety intelligence to enable AI-driven decisions, today announced its unaudited financial results for the first quarter of 2021. Our results in the first quarter have demonstrated a continuing high level of growth on a year-over-year basis, said Eyal Hen, Chief Financial Officer, Rekor. In the first quarter we stepped up our sales outreach by actively marketing our eCommerce platform and expanding our channel partners program along with continuing our aggressive direct sales efforts. These activities were key to increased revenue gen