Overview

* Rekor ( REKR ) Q3 revenue rises 35% yr/yr to $14.2 mln, driven by license sales

* Adjusted EBITDA loss narrows to $1.5 mln, best in company history

* Rekor ( REKR ) secures $50 mln contract with Georgia DOT, potential to exceed $100 mln

Outlook

* Company did not provide specific financial guidance for future quarters or full year in the press release

Result Drivers

* LICENSE SALES - Higher perpetual license sales drove Q3 revenue growth

* COST MANAGEMENT - Operating expenses fell 26% sequentially and 20% yr/yr, contributing to financial improvement

* GDOT CONTRACT - Rekor ( REKR ) secured its largest statewide contract to date with GDOT, valued at a minimum of $50 mln over eight years

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS -$0.03

Q3 -$1.50

Adjusted mln

EBITDA

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* Wall Street's median 12-month price target for Rekor Systems Inc ( REKR ) is $3.25, about 32.3% above its November 12 closing price of $2.20

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)