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Rekor Systems (REKR) investor relations material
Rekor Systems Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Secured major statewide and regional contracts, including a blanket purchase order with TxDOT and a $4M, five-year contract with CTRMA, expanding AI-driven roadway intelligence deployments.
Achieved significant operational efficiency, reducing operating expenses by 17% year-over-year, and improved year-over-year EBITDA despite challenging conditions.
Q2 2025 revenue was $12.4M, flat or down 1% year-over-year; six-month revenue was $21.6M, down 3% from 2024, mainly due to adverse weather and government sector uncertainty.
Net loss for Q2 2025 was $8.7M, improved from $9.8M in Q2 2024; six-month net loss was $19.5M, improved from $28.4M in the prior year.
Continued rollout of RoadView and Discover platforms, expanding recurring revenue opportunities and national footprint.
Financial highlights
Adjusted gross margin for Q2 2025 was 49.5%, down from 53.5% in Q2 2024, due to a higher mix of hardware contracts and increased direct costs.
Recurring revenue for Q2 was $5.9M (48% of total), down from 50.6% in Q2 2024; six-month recurring revenue was $11M, down 2% year-over-year.
Operating expenses for Q2 declined 17% year-over-year, saving $2.9M; year-to-date operating expenses down 17%, saving $5.7M.
Adjusted EBITDA loss for Q2 was $5.8M, nearly flat year-over-year; year-to-date adjusted EBITDA loss improved by $2M to $13.1M.
Cash and equivalents at June 30, 2025 were $4.8M, with working capital of $6.2M.
Outlook and guidance
Management anticipates sequential revenue growth in the second half of 2025, driven by a strong sales pipeline and expanded deployments.
Expects continued improvement in adjusted EBITDA for the remainder of 2025, aiming for breakeven.
Recurring revenue growth remains a focus, with 88% of $13.2M in remaining performance obligations expected to be recognized as revenue in the next twelve months.
Existing cash is insufficient to fund operations for the next twelve months; additional financing is being sought.
Substantial doubt exists regarding the ability to continue as a going concern without new capital or further cost reductions.
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