Here are 1-3 brief analogies for Rekor Systems:

• Clearview AI for vehicles and traffic: Rekor uses AI and computer vision to identify vehicles and analyze traffic patterns, similar to how Clearview AI processes facial recognition for public safety applications.
• Amazon Ring for roadways and smart cities: Rekor provides a network of AI-powered cameras and sensors for monitoring and managing urban infrastructure, akin to how Amazon Ring offers connected cameras for home and neighborhood security.

• Rekor Scout™ Platform: An AI-powered cloud platform providing real-time roadway intelligence, automatic license plate recognition (ALPR), and vehicle data analysis for public safety and smart city applications.
• Rekor Command™: A unified incident management system that integrates various data streams, including ALPR, to deliver actionable intelligence for law enforcement and emergency services.
• Edge and Mobile ALPR Solutions: Hardware and software solutions for automatic license plate recognition deployed on fixed infrastructure (e.g., Rekor Edge) or mobile devices and vehicles (e.g., Rekor Drive) to capture and process vehicle data.
• Traffic and Roadway Intelligence Services: Data analytics and insights derived from vehicle recognition and traffic flow monitoring to assist government agencies and commercial entities in managing infrastructure, optimizing traffic, and enhancing safety.

Rekor Systems (REKR) primarily sells its AI-powered road and public safety solutions to other organizations, fitting a business-to-government (B2G) and business-to-business (B2B) model, rather than selling directly to individuals.

Its major customers generally fall into the following categories:

• State and Local Law Enforcement Agencies: This includes police departments, sheriff's offices, and state highway patrols that utilize Rekor's technology for license plate recognition, vehicle identification, and real-time intelligence to enhance public safety and criminal investigations.
• Departments of Transportation (DOTs): State, county, and municipal departments of transportation are key customers, using Rekor's platforms for traffic management, roadway intelligence, incident detection, and infrastructure planning.
• Other Government Entities: This broad category can include city planning departments, public works departments, and other governmental bodies focused on smart city initiatives, urban mobility, and public safety infrastructure.
• Commercial Enterprises: While a smaller portion compared to government contracts, Rekor also serves certain commercial entities that require sophisticated vehicle and roadway intelligence, such as operators of private toll roads, large industrial facilities, or parking management companies. Specific publicly named commercial customers are generally not disclosed by Rekor due to the nature of these contracts.

Due to the nature of government contracts and security considerations, Rekor Systems does not typically disclose the specific names of its government agency customers. Furthermore, government agencies are not publicly traded companies, so they do not have stock symbols.

David Desharnais, Chief Executive Officer

David Desharnais was appointed CEO of Rekor Systems effective May 16, 2024, after previously serving as the company's President and COO. He has a strong background in technology and strategic leadership, with prior roles at companies such as Amazon and American Express. During his tenure as President and COO, Desharnais was instrumental in driving significant revenue growth and leading key acquisitions, contributing to notable increases in both gross and recurring revenues.

Eyal Hen, Chief Financial Officer

Eyal Hen has served as Rekor Systems' Chief Financial Officer since May 2019. He brings over 16 years of experience as a global finance and business management executive. Before joining Rekor, Mr. Hen was CFO/COO at VAYA Pharma Inc. and served as Vice President of Finance and Administration at Ormat Technologies, Inc. (NYSE: ORA). At Ormat, he oversaw global financial reporting, including SEC filings and global tax planning, managed an annual budget exceeding $350 million, and was a key player in project financing activities of over $2 billion. He also managed communications with the company's private equity partners and was involved in acquisitions at Ormat.

Robert A. Berman, Executive Chairman of the Board

Robert A. Berman served as the Chief Executive Officer of Rekor Systems from March 2016 to May 2024. He is currently the Executive Chairman of the Board. Mr. Berman co-founded Cinium Financial in 2006, a specialty finance company that was recognized on the INC 500 list in 2012 and 2013. He was responsible for developing its go-to-market strategy and acquiring a New York Domestic Property & Casualty Carrier, expanding its authority to 19 states. Additionally, he co-founded Empire Resorts in 2002, where he served as Chairman and CEO. At Empire Resorts, he was responsible for raising over $150 million for the redevelopment of Monticello Raceway into a gaming facility and laid the groundwork for the $1.5 billion Resorts World Casino Catskills. Empire Resorts was acquired by the Genting Group of Malaysia in 2019.

Matthew Hill, Chief Science Officer

Matthew Hill has been Rekor Systems' Chief Science Officer since March 2019. Prior to this role, he founded and led OpenALPR Technology, Inc., a software company, from June 2015 to March 2019. His earlier career included serving as an Engineering Director for Riverbed Technology, Inc., and an Applications Engineer for OPNET Technologies, Inc., which was later acquired by Riverbed.

Christopher Allen Kadoch, Chief Technology Officer

Christopher Allen Kadoch serves as the Chief Technology Officer for Rekor Systems.

The accelerating proliferation of highly connected vehicles and autonomous fleets presents an emerging threat to Rekor Systems. As vehicles generate vast amounts of real-time data, including location, speed, and anonymized sensor data, and as vehicle-to-infrastructure (V2X) communication becomes more prevalent, this data could become a more comprehensive, real-time, and potentially cost-effective source for traffic management, incident detection, and urban planning. This shift could diminish the reliance on traditional roadside infrastructure and dedicated sensor networks, such as those that Rekor Systems primarily leverages for its automatic license plate recognition (ALPR) and traffic analysis solutions. Automotive original equipment manufacturers (OEMs), fleet operators, or specialized connected vehicle data platforms could emerge as direct or indirect competitors by offering superior insights derived from this "data exhaust," potentially rendering some of Rekor's current offerings less critical or even obsolete for certain applications.

Rekor Systems (REKR) operates within the intelligent infrastructure sector, providing AI-powered roadway intelligence solutions for public safety, transportation management, and urban mobility. The company's main products and services include Rekor Scout for public safety and licensing, Rekor Command for transportation management, and Rekor Discover for urban mobility.

Rekor Systems identifies its total addressable market (TAM) in the United States as **750,000 to 1.5 million sites across various states**. This market size represents the potential for deployments of their comprehensive AI-driven solutions, including opportunities for upsells and cross-sells of their platforms once initial deployments are established.

As an example for estimating this market, the state of Florida alone has 122,000 miles of public roadways, with a potential for approximately 18,000 sites.

1. Expansion of Urban Mobility Solutions and Recurring Revenue through Data-as-a-Service (DaaS) Model: Rekor Systems anticipates significant revenue growth from the continued expansion of its core Urban Mobility segment. This is driven by the deployment of platforms such as Rekor Discover™ and Rekor Command in new states, including successful implementations and approvals in Florida, Texas, New York, and New Mexico. The company is particularly focused on increasing recurring revenue through its Data-as-a-Service (DaaS) model, which includes securing major statewide and regional contracts like the blanket purchase order with the Texas Department of Transportation (TxDOT) and expanding its Data-as-a-Service model for Rekor Discover.
2. Leveraging Advanced AI and Strategic Technology Partnerships: Future revenue growth is expected to be fueled by Rekor's strategic partnerships with technology leaders such as AWS and NVIDIA. These collaborations are aimed at enhancing its AI-driven roadway intelligence solutions, including AI-driven traffic analytics and data security technologies, which are critical for delivering superior road intelligence. This continuous technological advancement and the ability to offer cutting-edge AI platforms are key differentiators.
3. New Market Penetration and Product Diversification: Rekor Systems is poised for growth by penetrating new geographic markets and diversifying its product applications. This includes the certification of Rekor Scout® in New Jersey, which opens new market opportunities, and the development of new technologies like "virtual weigh stations" as seen in South Carolina. Furthermore, the company has announced plans to explore the global deepfake detection market and aims for future international expansion, signaling broader application of its AI capabilities beyond traditional roadway intelligence.
4. Increased Deployment and Adoption of AI Edge Units and Roadway Intelligence Platforms: The physical rollout and wider adoption of AI Edge units across U.S. roadways are expected to be a direct contributor to revenue growth. The continued deployment of platforms like RoadView and Discover will expand Rekor's operational footprint and enhance its capacity for real-time data aggregation and analysis, driving both product and service revenue streams.

Share Repurchases

• In the second quarter of 2025, Rekor Systems recorded common stock repurchases of $162,000.
• Treasury stock, which often results from repurchases, increased from 159,520 shares as of December 31, 2024, to 300,288 shares as of June 30, 2025.

Share Issuance

• In February 2021, the company raised $70.1 million in net cash proceeds through a public offering of 6,126,936 shares of common stock.
• Rekor Systems completed a $10 million Registered Direct Offering in March 2023.
• In February 2024, the company closed an underwritten public offering of 10,000,000 shares of common stock at $2.50 per share, yielding approximately $22.9 million in net proceeds.

Outbound Investments

• Rekor Systems acquired Waycare in August 2021, which expanded its global footprint, product offering, and customer base.
• The company acquired Southern Traffic Services (STS) in June 2022, further expanding its footprint, product offerings, and customer base.
• Cash was paid to acquire ATD in the first quarter of 2024, with the integration progressing and holdback shares settled by Q2 2025.