Rekor Systems Inc. (REKR) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
7172 COLUMBIA GATEWAY DRIVE COLUMBIA, MD 21046 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3669 - Communications Equipment, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 15,385 | 1,924 | 25,796 | 20,595 | 1,180 | 2,767 | |||
| Cash and cash equivalents | 15,385 | 1,924 | 25,796 | 20,595 | 1,180 | 2,767 | |||
| Restricted cash and investments | |||||||||
| Receivables | 5,295 | 3,578 | 1,928 | 340 | |||||
| Inventory, net of allowances, customer advances and progress billings | 3,058 | 1,986 | 1,194 | 1,264 | 302 | 73 | |||
| Inventory | 3,058 | 1,986 | 1,194 | 1,264 | 302 | 73 | |||
| Disposal group, including discontinued operation | 2 | 3,226 | |||||||
| Asset, held-for-sale, not part of disposal group | 331 | 1 | 2 | 3,226 | |||||
| Other current assets | 1,270 | 1,202 | 1,374 | 469 | 230 | 426 | |||
| Other undisclosed current assets | 328 | 254 | 389 | 1,448 | 2,066 | 5,265 | |||
| Total current assets: | 25,336 | 9,275 | 30,682 | 24,120 | 10,230 | 8,530 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 1,989 | ✕ | |||||||
| Operating lease, right-of-use asset | 9,584 | 9,662 | 6,163 | 426 | 782 | ✕ | |||
| Property, plant and equipment | 13,188 | 16,733 | 9,929 | 1,047 | 483 | 1,467 | |||
| Long-term investments and receivables | 482 | 822 | 1,020 | 1,435 | |||||
| Long-term investments | 75 | ||||||||
| Accounts and financing receivable, after allowance for credit loss | 482 | 822 | 1,020 | 1,360 | |||||
| Intangible assets, net (including goodwill) | 37,832 | 41,892 | 74,857 | 13,374 | 14,580 | 7,927 | |||
| Goodwill | 20,593 | 20,593 | 53,451 | 6,336 | 6,336 | 3,093 | |||
| Intangible assets, net (excluding goodwill) | 17,239 | 21,299 | 21,406 | 7,038 | 8,244 | 4,835 | |||
| Regulated entity, other noncurrent assets | 94 | ||||||||
| Deposits noncurrent assets | 3,740 | 3,451 | 1,978 | ||||||
| Deferred costs | 216 | ||||||||
| Other undisclosed noncurrent assets | 2,005 | 1,034 | 2,917 | 36 | |||||
| Total noncurrent assets: | 66,815 | 74,565 | 95,197 | 16,282 | 18,762 | 9,525 | |||
| TOTAL ASSETS: | 92,151 | 83,840 | 125,879 | 40,402 | 28,992 | 18,055 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 5,139 | 5,963 | 7,087 | 3,898 | 4,971 | 4,237 | |||
| Accounts payable | 5,139 | 5,963 | 7,087 | 3,898 | 4,971 | 1,594 | |||
| Accrued liabilities | 2,643 | ||||||||
| Deferred revenue | 3,604 | 3,044 | 2,437 | 1,126 | 749 | ✕ | |||
| Debt | 622 | 1,106 | 1,035 | 517 | 2,196 | 2,469 | |||
| Disposal group, including discontinued operation | 490 | 129 | 124 | 2,416 | |||||
| Other liabilities | 5,610 | 2,772 | 2,904 | ||||||
| Due to related parties | ✕ | ✕ | 1,000 | ||||||
| Other undisclosed current liabilities | 2,261 | 1,069 | 229 | 253 | 1,868 | ||||
| Total current liabilities: | 17,236 | 15,444 | 13,821 | 5,918 | 10,332 | 8,574 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,330 | 2,349 | 10,098 | 657 | 21,076 | 965 | |||
| Long-term debt, excluding current maturities | 1,273 | 2,349 | 37 | 469 | 20,409 | 965 | |||
| Finance lease, liability | 1,057 | ✕ | |||||||
| Liabilities, other than long-term debt | 15,546 | 16,710 | 873 | 987 | 815 | 8 | |||
| Deferred revenue | 1,449 | 1,005 | 835 | 958 | 775 | ✕ | |||
| Deferred rent credit | 8 | ||||||||
| Deferred income tax liabilities | 65 | 52 | 38 | 24 | 10 | ✕ | |||
| Disposal group, including discontinued operation, liabilities | 5 | 30 | |||||||
| Other liabilities | 587 | 1,416 | |||||||
| Operating lease, liability | 13,445 | 14,237 | 10,061 | 188 | 667 | ✕ | |||
| Other undisclosed noncurrent liabilities | 23,669 | 980 | |||||||
| Total noncurrent liabilities: | 41,545 | 19,059 | 10,971 | 2,624 | 21,891 | 973 | |||
| Total liabilities: | 58,781 | 34,503 | 24,792 | 8,542 | 32,223 | 9,547 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 33,370 | 49,337 | 101,087 | 25,191 | (9,035) | 3,456 | |||
| Common stock | 7 | 5 | 4 | 3 | 2 | 2 | |||
| Treasury stock, value | (522) | (417) | (319) | ||||||
| Additional paid in capital | 232,568 | 202,747 | 171,285 | 68,238 | 19,371 | 15,518 | |||
| Accumulated deficit | (198,683) | (152,998) | (69,883) | (43,050) | (28,408) | (12,064) | |||
| Other undisclosed equity, attributable to parent | 0 | ||||||||
| Other undisclosed equity | 6,669 | 5,804 | 5,052 | ||||||
| Total equity: | 33,370 | 49,337 | 101,087 | 31,860 | (3,231) | 8,508 | |||
| TOTAL LIABILITIES AND EQUITY: | 92,151 | 83,840 | 125,879 | 40,402 | 28,992 | 18,055 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 34,933 | 19,920 | 14,294 | 9,234 | 19,320 | 48,562 | ||
| Cost of revenue | (16,499) | (10,890) | (6,236) | (3,533) | (9,058) | (34,766) | ||
| Cost of goods and services sold | (16,499) | (10,890) | (6,236) | |||||
| Gross profit: | 18,434 | 9,030 | 8,058 | 5,701 | 10,262 | 13,797 | ||
| Operating expenses | (60,550) | (94,814) | (39,273) | (17,549) | (19,351) | (18,833) | ||
| Operating loss: | (42,116) | (85,784) | (31,215) | (11,848) | (9,089) | (5,037) | ||
| Nonoperating income (expense) | (3,537) | 1,343 | 769 | (2,091) | (5,276) | (638) | ||
| Other nonoperating expense | (468) | (1,279) | (28) | (2,091) | (5,276) | (638) | ||
| Interest and debt expense | 527 | (21) | 886 | (3,281) | (1,158) | (609) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 21 | (886) | ||||||
| Loss from continuing operations before equity method investments, income taxes: | (45,126) | (84,441) | (30,446) | (17,220) | (15,523) | (6,284) | ||
| Loss from equity method investments | (150) | |||||||
| Other undisclosed income (loss) from continuing operations before income taxes | (527) | 3,281 | 1,158 | 609 | ||||
| Loss from continuing operations before income taxes: | (45,653) | (84,441) | (30,596) | (13,939) | (14,365) | (5,674) | ||
| Income tax expense (benefit) | (32) | 987 | 3,819 | (23) | (47) | (29) | ||
| Other undisclosed loss from continuing operations | ||||||||
| Loss from continuing operations: | (45,685) | (83,454) | (26,777) | (13,962) | (14,412) | (5,703) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (26,777) | (14,182) | (15,884) | (5,703) | |
| Loss from discontinued operations | (220) | (1,472) | ||||||
| Net loss: | (45,685) | (83,454) | (26,777) | (14,182) | (15,884) | (5,703) | ||
| Other undisclosed net income (loss) attributable to parent | 339 | (5) | ||||||
| Net loss attributable to parent: | (45,685) | (83,115) | (26,782) | (14,182) | (15,884) | (5,703) | ||
| Preferred stock dividends and other adjustments | (51) | |||||||
| Other undisclosed net loss available to common stockholders, basic | (101) | (1,325) | (1,212) | (1,115) | ||||
| Net loss available to common stockholders, diluted: | (45,685) | (83,115) | (26,934) | (15,507) | (17,096) | (6,818) | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (45,685) | (83,454) | (26,777) | (14,182) | (15,884) | (5,703) | ||
| Comprehensive loss, net of tax, attributable to parent: | (45,685) | (83,454) | (26,777) | (14,182) | (15,884) | (5,703) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.