olivLaw · US equity research
Rekor Systems, Inc. REKR
Communications Equipment, NEC · SIC 3669 · Vertical: Communications Equipment, NEC (SIC 3669)
Rekor Systems builds AI-driven roadway intelligence platforms used by transportation agencies, public safety bodies and commercial operators to monitor and manage traffic. In the second quarter of 2026 the company, still moving toward profitability, reported revenue of 12.7 million USD and a narrower adjusted EBITDA loss, while federal infrastructure investment could support demand for its products.
At the close of 04 Nov 2026, Rekor Systems, Inc. (REKR) stock was 0.36 USD (+0.96% on the day), with market capitalisation 49.3 m USD, beta 2.30, 52-week range 0.24–2.31 USD. Latest reported quarter (Q2 2026): revenue of 12.7 m USD (+2.5% YoY), net income of -551.0 k USD, diluted EPS 0.00 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 49.9
- neutral
- Bollinger (20, 2)
- 0.26 – 0.40
- in the upper half of the band · %B 0.68 · band width 42.7%
- SMA 50 / 200
- 0.40 / 0.70
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / -0.03
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −1.5% | −1.1% | −0.4 pp | — |
| 3 months | −44.1% | −0.5% | −43.6 pp | — |
| 6 months | −59.8% | +4.4% | −64.2 pp | — |
| Year to date | −74.0% | +12.3% | −86.3 pp | — |
| 1 year | −84.5% | +13.5% | −98.0 pp | −24.8% |
| 3 years | −87.7% | +76.4% | −164.1 pp | +27.9% |
| 5 years | −97.1% | +63.7% | −160.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10.5 m | 13.3 m | 9.2 m | 12.4 m | 14.2 m | 12.7 m | 10.3 m | 12.7 m |
| Cost of revenue | 5.9 m | 6.4 m | 4.8 m | 6.2 m | 5.2 m | 5.2 m | 4.9 m | 5.6 m |
| Research & development | 4.7 m | 4.0 m | 4.0 m | 3.7 m | 3.7 m | 3.3 m | 3.5 m | 2.4 m |
| Operating income | -12.9 m | -18.5 m | -10.1 m | -7.7 m | -4.0 m | -7.0 m | -8.8 m | 222.0 k |
| Depreciation & amortisation | 2.4 m | 2.4 m | 1.6 m | 1.6 m | 1.5 m | 1.6 m | 1.5 m | 1.4 m |
| Interest expense | 496.0 k | 551.0 k | 590.0 k | 586.0 k | 568.0 k | 553.0 k | 493.0 k | 517.0 k |
| Income tax | 0 | 45.0 k | 0 | 0 | 0 | 42.0 k | 0 | 0 |
| Net income | -12.6 m | -20.4 m | -10.9 m | -8.7 m | -4.1 m | -7.8 m | -9.4 m | -551.0 k |
| Diluted EPS | -0.14 | — | -0.10 | -0.07 | -0.03 | — | -0.07 | 0.00 |
| Operating cash flow | -9.6 m ≈ | -4.9 m | -8.1 m | -7.7 m ≈ | -4.8 m ≈ | 210.0 k | -3.7 m | -2.4 m ≈ |
| Capex | 350.0 k ≈ | 820.0 k | 349.0 k | 301.0 k ≈ | 1.4 m ≈ | 464.0 k | 393.0 k | 0 ≈ |
| Share repurchases | 9.0 k ≈ | 0 | 93.0 k | 69.0 k ≈ | 0 ≈ | 27.0 k | 2.0 k | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 20.1 m | 5.5 m | 9.2 m | 11.6 m | 19.9 m | 34.9 m | 46.0 m | 48.5 m |
| Revenue YoY | −9.4% | −72.7% | +68.8% | +25.4% | +72.1% | +75.4% | +31.8% | +5.3% |
| Net income | -5.7 m | -15.9 m | -14.2 m | -26.8 m | -83.1 m | -45.7 m | -61.4 m | -31.5 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -0.44 | unavailable | unavailable | -0.66 | -1.67 | -0.72 | -0.71 | -0.26 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -28.4% | -290.4% | -153.6% | -231.4% | -417.2% | -130.8% | -133.4% | -64.9% |
| Free cash flow | -3.1 m | -22.1 m | -16.1 m | -22.4 m | -42.6 m | -34.0 m | -34.2 m | -22.9 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 16.6 m USD
- Financial debt
- 15.0 m USD
- Net debt
- -1.6 m USD
- Equity
- 42.9 m USD
- Total assets
- 85.4 m USD
- Debt / equity
- 0.35x
- Current ratio
- 1.06x
- ROE
- -81.7%
- ROA
- -37.5%
- FCF margin
- -47.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 9.2 m | 11.6 m | 19.9 m | 34.9 m | 46.0 m | 48.5 m | SEC (XBRL)· 31 Mar 2026verified |
| Cost of revenue | 3.5 m | 4.5 m | 10.9 m | 16.5 m | 23.3 m | 21.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Gross profit | 5.7 m | 7.0 m ≈ | 9.0 m ≈ | 18.4 m ≈ | 22.7 m ≈ | 27.1 m ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Research & development | 3.2 m | 8.3 m | 18.6 m | 18.3 m | 18.8 m | 14.6 m | SEC (XBRL)· 31 Mar 2026verified |
| Operating income | -11.8 m | -31.8 m | -85.8 m | -42.1 m | -54.3 m | -28.9 m | SEC (XBRL)· 31 Mar 2026verified |
| Depreciation & amortisation | 2.0 m | 3.1 m | 6.4 m | 7.9 m | 9.5 m | 6.3 m | SEC (XBRL)· 31 Mar 2026verified |
| EBITDA | -9.9 m ≈ | -28.7 m ≈ | -79.4 m ≈ | -34.2 m ≈ | -44.8 m ≈ | -22.6 m ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Interest expense | 2.5 m | 27.0 k | 21.0 k | 3.6 m | 2.6 m | 2.3 m | SEC (XBRL)· 31 Mar 2026verified |
| Pre-tax income | -13.9 m | -31.1 m | -84.4 m | -45.7 m | -61.4 m | -31.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Income tax | 23.0 k | -3.8 m | -987.0 k | 32.0 k | 45.0 k | 42.0 k | SEC (XBRL)· 31 Mar 2026verified |
| Net income | -14.2 m | -26.8 m | -83.1 m | -45.7 m | -61.4 m | -31.5 m | SEC (XBRL)· 31 Mar 2026verified |
| Diluted EPS | — | -0.66 | -1.67 | -0.72 | -0.71 | -0.26 | SEC (XBRL)· 31 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 20.6 m | 25.8 m | 1.9 m | 15.4 m | 5.0 m | 16.6 m | SEC (XBRL)· 31 Mar 2026verified |
| Receivables | 1.0 m | 953.0 k | 3.2 m | 5.0 m | 7.2 m | 8.8 m | SEC (XBRL)· 31 Mar 2026verified |
| Inventories | 1.3 m | 1.2 m | 2.0 m | 3.1 m | 4.3 m | 3.1 m | SEC (XBRL)· 31 Mar 2026verified |
| Current assets | 24.1 m | 30.7 m | 9.3 m | 25.3 m | 19.9 m | 30.7 m | SEC (XBRL)· 31 Mar 2026verified |
| Property, plant & equipment, net | 1.0 m | 9.7 m | 16.7 m | 13.2 m | 11.0 m | 8.6 m | SEC (XBRL)· 31 Mar 2026verified |
| Goodwill | 6.3 m | 53.5 m | 20.6 m | 20.6 m | 24.3 m | 24.3 m | SEC (XBRL)· 31 Mar 2026verified |
| Intangibles (excl. goodwill) | 7.0 m | 21.3 m | 21.3 m | 17.2 m | 14.5 m | 13.3 m | SEC (XBRL)· 31 Mar 2026verified |
| Total assets | 40.4 m | 125.9 m | 83.8 m | 92.2 m | 82.5 m | 85.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Accounts payable | 1.8 m | 7.0 m | 6.0 m | 5.1 m | 4.3 m | 4.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Long-term debt | 469.0 k | — | — | 26.0 m | 15.9 m | 15.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Current liabilities | 5.9 m | 13.8 m | 15.4 m | 17.2 m | 18.2 m | 29.1 m | SEC (XBRL)· 31 Mar 2026verified |
| Total liabilities | 8.5 m | 24.8 m | 34.5 m | 58.8 m | 48.3 m | 42.5 m | SEC (XBRL)· 31 Mar 2026verified |
| Equity | 25.2 m † | 101.1 m † | 49.3 m † | 33.4 m † | 34.1 m † | 42.9 m † | SEC (XBRL)· 31 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -15.1 m | -18.0 m | -39.6 m | -32.6 m | -32.5 m | -20.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Capex | 1.0 m | 4.4 m | 3.0 m | 1.4 m | 1.7 m | 2.5 m | SEC (XBRL)· 31 Mar 2026verified |
| Free cash flow | -16.1 m ≈ | -22.4 m ≈ | -42.6 m ≈ | -34.0 m ≈ | -34.2 m ≈ | -22.9 m ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Investing cash flow | 4.6 m | -47.4 m | -8.4 m | 270.0 k | -9.0 m | -2.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Financing cash flow | 29.6 m | 71.0 m | 23.9 m | 45.6 m | 31.1 m | 34.1 m | SEC (XBRL)· 31 Mar 2026verified |
| Share repurchases | 0 | 319.0 k | 98.0 k | 105.0 k | 189.0 k | 189.0 k | SEC (XBRL)· 31 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 51 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 49.3 m USD
Key indicators
Coverage and freshness
Score by group
- Valuation57
- Returns34
- Quality26
- Balance sheet0
- Growth85
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.41 – 0.50 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/Sales0.41 – 0.50 (Mid 0.47)5 companies used · median multiple 1.4x · quartiles 1.2x – 1.5xAIOT, ESE, KSCP, MTEK, TBCH
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 51/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 58.2% | 46 (on a fixed band) | 11% |
| EBIT margin · Quality | -39.4% | 27 (vs peers) | 9% |
| FCF margin · Quality | -26.2% | 0 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 34.5% | 100 (on a fixed band) | 18% |
| Revenue growth (YoY) · Growth | 5.3% | 55 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.8x | 0 (on a fixed band) | 7% |
| EV/Sales · Valuation | 1.1x | 100 (vs peers) | 18% |
| FCF yield · Valuation | -26.4% | 0 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 0.1% | 34 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial0/100 · 1/2 factors with a value
- Growth85/100 · 2/2 factors with a value
- Quality26/100 · 3/3 factors with a value
- Returns34/100 · 1/1 factors with a value
- Valuation57/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Rekor Systems, Inc. (REKR). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 48.5 m USD in 2025; YoY growth 5.3%; net margin -43.8%; ROE -62.8%.
The estimated value range is 0.41–0.50 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.47 USD, the price of 0.36 USD leaves a potential of 29.8% (value / price − 1) and a margin of safety of 23.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 51/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 34.5%
- EV/Sales: 1.1x
- The price is below the estimated value range
What contradicts it
- EBIT margin: -39.4%
- FCF margin: -26.2%
- Current ratio: 0.8x
- FCF yield: -26.4%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA.
Versus the vertical median
Communications Equipment, NEC (SIC 3669) · same industry (4-digit SIC) · compared with 11 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LITELumentum Holdings Inc. | 56.8 bn | — | -245.8% | -175.8% | +83.2% | +93% / +1,364% |
| ESEEsco Technologies Inc. | 6.2 bn | 19.8 | 21.4% | 24.4% | +19.2% | +13% / +128% |
| NSSCNapco Security Technologies, Inc | 1.1 bn | 25.9 | 23.4% | 21.6% | +11.4% | −21% / +4% |
| AIOTPowerfleet, Inc. | 381.2 m | — | -4.0% | -4.2% | +22.4% | −43% / +22% |
| TBCHTurtle Beach Corporation | 303.7 m | — | -3.2% | -1.1% | −14.2% | +22% / +50% |
| INSGInseego Corp. | 79.3 m | 25.3 | — | -6.4% | −13.1% | −56% / +120% |
| AMPGAmplitech Group, Inc. | 74.5 m | — | -19.4% | -33.4% | +165.0% | −25% / +56% |
| REKRRekor Systems, Inc. | 49.3 m | — | -62.8% | -43.8% | +5.3% | −84% / −88% |
| KSCPKnightscope, Inc. | 34.7 m | — | -201.3% | -217.3% | +4.9% | −91% / −98% |
| SNTSenstar Technologies Corporation | 33.7 m | 10.3 | 8.0% | 8.8% | +1.7% | −63% / +28% |
| UTSIUTStarcom Holdings Corp. | 19.2 m | — | -19.5% | -88.5% | −17.5% | −16% / −42% |
| MTEKMaris-Tech Ltd. | 2.1 m | — | -168.6% | -403.3% | −77.9% | −81% / −75% |
1- and 3-year price returns: for REKR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Rekor Systems builds AI-driven roadway intelligence platforms used by transportation agencies, public safety bodies and commercial operators to monitor and manage traffic. In the second quarter of 2026 the company, still moving toward profitability, reported revenue of 12.7 million USD and a narrower adjusted EBITDA loss, while federal infrastructure investment could support demand for its products.
SWOT
Strengths
- The integrated offer combines hardware, software and data on one platform, enabling recurring subscriptions and more predictable revenue 1.
- Improvement in gross margin and cash consumption in 2026 shows that efficiency measures are producing measurable results 3.
- Presence across traffic, public safety and urban mobility reduces dependence on a single customer segment 1.
Weaknesses
- The company has not yet reached profitability, and past losses have been significant 1.
- Its presence in transportation and public safety has been limited in the past, making it harder to win contracts against established rivals 1.
- Reliance on overseas supply chains for hardware components exposes the company to disruption and variable costs 1.
Opportunities
- If federal road safety and intelligent transportation grants are accessed, demand from public agencies could grow 1.
- Expansion of automated enforcement of insurance and registration rules could open new categories of public customers 1.
- The video authentication technology from Rekor Labs could find uses in media and insurance beyond traditional customers 2.
Threats
- Competitors with greater financial resources could cut prices or develop similar products, which could affect the company's growth 1.
- Government contracts can be terminated on short notice, and long sales cycles make revenue hard to predict 1.
- Concerns about data privacy and vehicle recognition could slow adoption or lead to stricter regulation 12.
Risks
- Lack of profitabilityhigh
The company has not yet achieved profit, and it is uncertain whether it will reach the adjusted EBITDA profitability it has projected, which could limit investment 13.
- Refinancing and liquidityhigh
The evaluation of refinancing the revenue sharing notes and the reduced cash balance could constrain growth plans if financing is not available on acceptable terms 13.
- Exchange listingmedium
The filings refer to efforts to regain compliance with Nasdaq continued listing requirements, a factor that can affect access to capital 2.
- Dependence on government contractsmedium
Many large contracts can be terminated without cause and renewals are not assured, which makes revenue vulnerable 1.
- Dependence on outside supplierslow
Hardware components come from Europe and Asia, and logistical or trade disruptions could raise costs or delay deliveries 1.
Investment thesis
What would need to be true (bull case)
- Growth in recurring revenue and gross margin shows the subscription model could become more important in the company's mix 3.
- If federal infrastructure programs are accessed, the company could benefit from a wave of requests from transportation agencies 1.
- Lower cash consumption and a smaller workforce could bring the company closer to adjusted EBITDA profitability if these trends hold 3.
What would break the thesis
- The company could remain loss-making in future periods if revenue does not grow enough to cover fixed costs 1.
- Second-quarter sales grew only modestly year over year, and part of the improvement came from cost reductions and a one-time gain 3.
- Competition from better-resourced suppliers and the need for additional financing could limit the company's ability to expand its market share 1.
What to watch
- Achievement of the adjusted EBITDA profitability projected for the second half of the year2026
- Outcome of the evaluation of refinancing the revenue sharing notesQ3 2026
- Trend in recurring revenue and adjusted gross marginQ3 2026
- Allocation of IIJA federal grants to the company's customersnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Rekor Systems, Inc. (NASDAQ: REKR) describes itself as a roadway intelligence company seeking to modernize public safety, urban mobility and transportation management through interconnected AI-driven hardware and software platforms 1. Operations are conducted mainly through the subsidiaries Rekor Recognition Systems, Waycare, Southern Traffic Services and All Traffic Data Services, while Rekor Labs separately develops a video authenticity technology 1.
The revenue model combines software and data subscriptions with complementary hardware sales, and management expects the bulk of future revenue to come from recurring models 1. Recurring revenue made up a growing part of the top line in the second quarter of 2026, which reflects the stated strategic direction 3. The net loss in fiscal 2025 remained significant, and management said adjusted EBITDA profitability could be reached in the second half of 2026 13.
Operationally, the company cut headcount and realigned its engineering work in the first half of 2026, which improved gross margin and reduced cash consumption 3. The balance sheet also includes an evaluation of refinancing its Prime Revenue Sharing Notes, a point that remains important for investors 3.
Segments
Rekor Command for transportation management
Rekor Command unifies data from connected vehicles, incidents, construction and weather into one AI-driven operating platform for traffic agencies, with applications for monitoring, incident management and advanced analytics 1.
Rekor Discover for urban mobility
Rekor Discover automatically collects vehicle data and turns it into traffic reports that meet federal classification standards, covering counts, classes and speeds, for agencies and real estate developers 1.
Rekor Scout for public safety
Rekor Scout recognizes license plates and vehicle characteristics from existing cameras, connects agencies to watch lists and generates alerts for law enforcement 1.
Market context
The company operates in the roadway intelligence and smart city market, where it argues that growing urban populations and the need for more efficient infrastructure management support demand 1. Federal IIJA investments, including programs of over 200 million USD annually for road safety and 500 million USD for the SMART program, could open funding for public customers 1.
The market for connected vehicle data and automated recognition is still relatively new, and adoption depends on cost, performance and available public funding, which makes growth uncertain 12.
Trends
- Federal infrastructure fundingtailwind
IIJA programs could support purchases by transportation and public safety agencies if grants are directed toward roadway intelligence solutions 1.
- Automated enforcement of lawstailwind
Expansion of legislation on automated enforcement, such as insurance compliance, could enlarge the market for vehicle recognition products 1.
- Cheaper GPUs and edge processingmixed
More affordable graphics processors and edge processing could lower hardware and data transfer costs, although competitors can use the same technologies 1.
- Pressure on profitabilityheadwind
Investments in new markets and products continue to weigh on operating margins, and persistent losses can limit the company's ability to fund growth 13.
Competitive position
Rekor competes with established technology and transportation services companies, some with greater financial and commercial resources and long-standing agency relationships 1. Industry consolidation and strategic partnerships can create broader offerings that are difficult to match 1.
The company says its software outperforms competitors in published benchmarks, but large road operators with long-term contracts may be reluctant to replace their existing systems 1.
- Furtivo Solutions
Competitor named in the company's sources in transportation management; not identified as US-listed in the available sources.
- Established ITS system suppliers
Companies with long-term contracts and large resources that can expand offerings through acquisitions or partnerships; sources do not give tickers.
- License plate recognition vendors
Operators offering installed systems for tolling and enforcement; the sources do not specify their listing status.
- New entrants from connected vehicle data
Players without a current market position that could enter through partnerships; sources do not name them.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report27 Oct 2026Delisting notice · Regulation FD disclosure · Financial statements and exhibits
- Current report19 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Current report16 Oct 2026Shareholder vote
- Current report06 Oct 2026Amendments to articles or bylaws · Financial statements and exhibits
- Current report14 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report13 Aug 2026
- Current report13 Aug 2026Results of operations · Financial statements and exhibits
- Current report15 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report15 May 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report11 May 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Rekor Systems, Inc. · 31 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Rekor Systems, Inc. · 13 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Rekor Systems, Inc. · 13 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.