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REKR News
REKR Events
Rekor Systems Selected by SCDOT for $22M Contract
Rekor Systems announced it has been selected by the South Carolina Department of Transportation, or SCDOT, for a statewide contract with a seven-year term and an expected potential value in excess of $22M. The award is subject to customary final contract negotiations. Under the contract, Rekor will maintain, upgrade, and modernize SCDOT's statewide network of traffic count, vehicle classification, and speed monitoring sites, along with the agency's weigh-in-motion sites. The work replaces aging in-road sensor infrastructure with non-intrusive, AI-powered roadside systems that deliver higher accuracy, require no lane closures to service, and produce data that exceeds Federal Highway Administration reporting standards.
Rekor Reports Q2 Adjusted EBITDA Loss of Approximately $1.3M
Reports preliminary Q2 adjusted EBITDA loss of approximately $1.3M. "The second quarter marks the point at which the benefits of our operational realignment became clearly visible in our financial results," said Joseph Nalepa, CFO of Rekor. "Revenue is expected to increase both sequentially and year over year, adjusted Gross Margin is expected to remain strong, and our Adjusted EBITDA loss is expected to decline to approximately $1.3 million."
Rekor Systems Reaches $16.8M Agreement with OKDAC
Rekor Systems announced it has reached an agreement in principle with the Oklahoma District Attorneys Council, or OKDAC, to continue as the technology partner for its Uninsured Vehicle Enforcement Diversion, or UVED, program. The agreement, subject to final contract negotiations, carries a total value of $16.8M over a multi-year term.
Rekor Systems Consolidates Global Engineering Operations
Rekor Systems announced a strategic consolidation of its worldwide engineering operations aimed at increasing operational efficiency and aligning the Company's cost structure with current revenue levels. As part of this initiative, Rekor will move engineering work from Israel to its U.S.-based teams, consolidating all key product development and technology functions in the United States. This move supports the Company's ongoing efforts to streamline operations and focus resources on initiatives that have the most immediate impact on revenue, customer delivery, platform performance, and scalable growth. Rekor Chief Financial Officer Joe Nalepa stated, "After closely examining our global footprint, we have taken this step to ensure that we are operating in line with current revenue while maintaining the ability to execute our strategic priorities. Consolidating our engineering operations in the United States improves coordination across our product and delivery teams and is a significant step toward lowering our annual operating expenses. We expect this and other actions to reduce our burn rate by approximately $7.5 million on an annualized basis."
Rekor Systems Prices 8,571,428 Units Direct Offering at $1.75 Each
Rekor Systems announced the pricing of an underwritten registered direct offering of 8,571,428 units at a public offering price of $1.75 per unit, with each unit consisting of one share of common stock and a warrant to purchase one share of common stock at an exercise price of $2.40 per share. The warrants will be immediately exercisable and will expire seven years from the date of issuance. The shares of common stock and warrants comprising the units are immediately separable and will be issued separately. The offering is expected to close on or about December 16, 2025, subject to the satisfaction of customary closing conditions. The gross proceeds to Rekor from the offering are expected to be approximately $15M, before deducting underwriting discounts and commissions and other offering expenses payable by Rekor. Rekor intends to use the net proceeds from this offering for working capital, capital expenditures and general corporate purposes. The offering included participation from one institutional investor. William Blair is acting as the sole book-running manager for the offering.
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