Here are a couple of analogies to describe Rekor Systems:

• It's like Clearview AI, but for vehicles and traffic management, providing automated recognition and data collection from roads.
• Think of it as Palantir for road and vehicle data, offering complex data analytics and intelligent infrastructure solutions for transportation and public safety.

• Rekor One Traffic Management solutions: A suite of software modules providing roadway monitoring, incident detection and management, traffic analytics, and live/archival traffic views.
• Contactless Compliance Application: A turnkey information and citation management solution for cities, states, and municipalities for primary and secondary offenses.
• Rekor Scout: Offers accurate license plate and vehicle recognition that can be subscribed to for use with existing camera or sensor systems.
• Rekor Blue: A smartphone app for law enforcement to retrieve and organize accurate vehicle license plate and state of registration information.
• Rekor CarCheck: An API providing accurate license plate data, vehicle make, model, body type, and color for commercial applications.
• AutoNotice: A cloud-based financial management application designed to record payments, manage unapplied payments, and reconcile receipts.
• Rekor Edge Series: A family of mountable hardware systems that seamlessly capture and process vehicle recognition data.

Based on the provided company description, Rekor Systems (REKR) primarily serves government entities and other businesses, rather than individual consumers. The description does not name specific customer companies or government agencies. However, the major categories of customers can be identified as:

• Government Agencies (Cities, States, and Municipalities): Rekor provides solutions for transportation management (roadway monitoring, incident detection, traffic analytics, infrastructure planning) and public safety (contactless compliance, citation management, financial management applications like AutoNotice).
• Law Enforcement Agencies: This is a specific sub-category within public safety, utilizing tools such as Rekor scout (license plate and vehicle recognition) and Rekor blue (a smartphone app for vehicle information retrieval).
• Commercial Businesses/Companies: Rekor offers its vehicle recognition technology as an API (Rekor CarCheck) for various "commercial applications." The description does not specify particular industries or company types within this category, but it indicates that other businesses integrate Rekor's technology into their own products or services.

Robert A. Berman Interim Chief Executive Officer, Executive Chairman

Robert A. Berman is the founder of Rekor Systems and currently serves as its Interim Chief Executive Officer and Executive Chairman. He stepped into the Interim CEO role in March 2025 following the resignation of David Desharnais. He previously held the titles of President and CEO.

Joseph Nalepa Chief Financial Officer

Joseph Nalepa was appointed Chief Financial Officer of Rekor Systems, effective November 17, 2025, succeeding Eyal Hen. Prior to this, he served as the company's Corporate Controller starting in February 2020, and as Financial Reporting Manager from 2019 to 2020. Before joining Rekor, Mr. Nalepa worked at KPMG LLP in Baltimore, Maryland, from 2013 to 2019, where he concluded his tenure as an Audit Manager. He holds a Bachelor of Science in Accounting and a Bachelor of Science in Information Systems from Salisbury University (2012) and a Master of Business Administration from the University of Maryland (2022), and is a Certified Public Accountant.

Shobhit Jain Chief Product and Technology Officer

Shobhit Jain leads Product and Technology as Chief Product and Technology Officer at Rekor Systems. He brings experience from Verra Mobility and HERE Technologies. His background also includes founding a company that was later acquired by Q-Free, a leading Intelligent Transportation Systems (ITS) provider, demonstrating his expertise in scaling businesses globally.

Rish Malhotra Executive Vice President of Global Strategic Growth

Rish Malhotra was appointed Executive Vice President of Global Strategic Growth on September 3, 2024. He has over 20 years of international management experience in the Intelligent Transportation Solutions (ITS) sector. Before joining Rekor, Mr. Malhotra served as President & CEO of International Road Dynamics Inc., where he successfully led the international deployment of innovative technologies.

Charles Degliomini Executive Vice President

Charles Degliomini was appointed as Executive Vice President of Government Relations and Corporate Communications on May 15, 2019. He possesses deep experience in both the private and public sectors, having founded a New York-based communications and government affairs management company.

1. Regulatory and Privacy Scrutiny Related to Automated License Plate Recognition (ALPR) and Vehicle Data Collection: Rekor Systems' core business heavily relies on automated license plate recognition (ALPR) technology and the collection and processing of vehicle data for public safety, transportation management, and commercial applications. Growing public concerns regarding surveillance, increasing data privacy regulations (e.g., state-specific privacy laws, potential federal regulations), or legal challenges to the use of ALPR by government agencies could significantly restrict the company's ability to deploy its solutions, increase compliance costs, or diminish demand for its products. This risk directly impacts key offerings such as Rekor Scout, Rekor Blue, and contactless compliance applications.
2. Intense Competition and Rapid Technological Obsolescence in Intelligent Infrastructure Solutions: The market for intelligent infrastructure, particularly in ALPR and traffic management technologies, is competitive and subject to rapid technological advancements. Competitors may develop more accurate, efficient, or cost-effective solutions that could erode Rekor Systems' market share. Furthermore, the emergence of disruptive technologies (e.g., advanced sensor fusion, next-generation vehicle-to-infrastructure communication, or widespread adoption of fully autonomous vehicles with integrated compliance features) could potentially reduce the reliance on or even render aspects of Rekor's current core technologies less critical or obsolete over time, impacting future revenue streams.
3. Reliance on Government Spending and Long Public Sector Procurement Cycles: A substantial portion of Rekor Systems' target market consists of public sector entities, including cities, states, and municipalities, for its transportation management and public safety solutions. This dependency exposes the company to risks associated with fluctuations in government budgets, changes in political priorities, and lengthy, complex, and often unpredictable government procurement and contract cycles. Delays in funding, changes in policy, or budget cuts by government agencies could directly impact the adoption, implementation, and expansion of Rekor's solutions, affecting its revenue and growth prospects.

The increasing integration and commoditization of advanced computer vision and AI capabilities, including accurate license plate and vehicle recognition, directly into mainstream IP cameras, traffic sensors, and smart city infrastructure platforms by larger, more diversified technology companies or hardware manufacturers.

Rekor Systems (REKR) operates in several significant addressable markets globally and in North America, encompassing intelligent transportation systems, traffic management, automatic license plate recognition (ALPR), public safety software, and vehicle recognition systems.

Intelligent Transportation Systems (ITS) and Traffic Management Solutions

• The global intelligent transportation system (ITS) market was valued at approximately USD 47.2 billion in 2024 and is projected to reach around USD 121.4 billion by 2034, growing at a compound annual growth rate (CAGR) of 10.3% from 2025 to 2034. Other estimates place the global ITS market at USD 58.28 billion in 2025, growing to USD 128.17 billion by 2033 at a CAGR of 10.8% from 2026 to 2033.
• The global traffic management system market was estimated at USD 34.6 billion in 2025 and is expected to grow to USD 107 billion by 2035, with a CAGR of 12.4% from 2026 to 2035. Another report values the global traffic management market at USD 46.39 billion in 2024, projected to reach USD 142.95 billion by 2034 at a CAGR of 11.9% from 2025-2034.
• North America is a dominant region in the ITS industry, accounting for a share of 34.9% in 2025. The U.S. intelligent transportation system market alone was worth over USD 10.6 billion in 2024.

Automatic License Plate Recognition (ALPR) / Automatic Number Plate Recognition (ANPR)

• The global Automatic License Plate Recognition (ALPR) market was valued at USD 1,116 million in 2024 and is projected to grow to USD 2,180 million by 2032, exhibiting a CAGR of 10.3%. Other data suggests the global ALPR market size is expected to reach $15.22 billion by 2030, with a CAGR of 10.8% from 2026.
• Another estimate for the global automatic number plate recognition system market size was USD 3.79 billion in 2024 and is predicted to reach around USD 9.27 billion by 2034, expanding at a CAGR of 9.36% from 2025 to 2034.
• North America was the largest region in the ALPR market in 2025 and dominated the global automatic number plate recognition system market with a 38% market share in 2024.

Public Safety Software

• The global public safety software market was valued at $16.37 billion in 2022 and is expected to surge to $36.47 billion by 2030, growing at a CAGR of 10.5%.
• It is also projected to reach US$ 40.98 billion by 2031 from US$ 17.9 billion in 2023, at an estimated CAGR of 10.9% from 2023 to 2031.
• North America remains the leading region for public safety software.

Vehicle Recognition Systems (including for commercial applications and hardware)

• The global Vehicle Recognition System market is projected to reach an estimated $3.156 billion by 2025, with a CAGR of 9.2% expected through 2033.
• This market's size was estimated to be in the range of $2.5 billion to $3.2 billion in 2023 and is projected to reach upwards of $7 billion to $10 billion by 2030, with a CAGR of approximately 15% to 18% over the next five to seven years.
• The Intelligent Transportation application segment within vehicle recognition systems is the largest and most dominant, projected to capture over 55% of the total market share.

Rekor Systems (REKR) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market expansions:

1. Expansion of Data-as-a-Service (DaaS) Model and Software Products: Rekor is actively focusing on increasing its data-as-a-service model and software solutions. This strategy is expected to enhance operating leverage and improve margins, contributing to a growing base of recurring revenue.

2. Securing Large Statewide Contracts: A significant driver of future revenue is the company's success in securing large, multi-year government contracts, such as the minimum $50 million Georgia Department of Transportation contract, which has the potential to reach $100 million over its term. The full ramp-up of the Georgia contract is anticipated in Q4 2025. The company also noted an eight-figure contract win in Texas that is materializing. Rekor foresees continued opportunities within the State Department of Transportation and Public Safety sectors.

3. International Market Expansion: Rekor Systems is exploring opportunities to expand into international markets, particularly in Europe, with these efforts targeted for 2026.

4. Growth in Commercial Sectors: The company aims to expand its presence in commercial markets, indicating a strategic push beyond its traditional government and public safety clients. This includes a renewed focus on expanding its Scout product more towards commercial applications.

5. Introduction of New Product Initiatives: Rekor plans to enter the global deepfake detection market through Rekor Labs, with initial commercialization of a deepfake detection solution targeted for 2026.

Share Issuance

• Rekor Systems completed a public offering in February 2021, selling 6,126,936 shares at $12.25 per share, generating approximately $75.1 million in gross proceeds.
• In February 2024, the company priced an underwritten public offering of 10,000,000 shares at $2.50 per share, with net proceeds expected to be approximately $22.9 million, and an additional $3.5 million from the full exercise of the underwriters' option, totaling approximately $26.4 million.
• Rekor Systems closed a $15.0 million underwritten registered direct offering in December 2025, which involved the issuance of 8,571,428 units at $1.75 per unit, each including one share of common stock and one warrant.

Outbound Investments

• In 2021, Rekor acquired OpenALPR, a company specializing in License Plate Recognition (LPR) technology, to expand its capabilities, global footprint, and accelerate product development.

Capital Expenditures

• The net proceeds from the February 2021 public offering were designated for general corporate purposes, including working capital, operating expenses, and capital expenditures.
• The net proceeds from the December 2025 underwritten registered direct offering were intended for working capital, capital expenditures, and general corporate purposes.