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Rekor Systems (REKR) Financials

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$0.63 +0.03 (+4.83%)
As of 03:22 PM Eastern
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Annual Income Statements for Rekor Systems

Annual Income Statements for Rekor Systems

This table shows Rekor Systems' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -0.04 -5.04 -5.70 -16 -14 -27 -83 -46 -61 -31
Consolidated Net Income / (Loss)		 -0.04 -5.04 -5.70 -16 -14 -27 -83 -46 -61 -31
Net Income / (Loss) Continuing Operations		 -0.04 -5.04 -5.71 -12 -14 -27 -83 -46 -61 -31
Total Pre-Tax Income 		-0.26 -5.34 -5.68 -12 -14 -31 -84 -46 -61 -31
Total Operating Income		 -0.09 -4.64 -5.12 -7.53 -12 -32 -86 -42 -54 -29
Total Gross Profit		 5.17 8.34 10 3.82 5.72 7.03 9.03 18 23 27
Total Revenue		 12 22 20 5.47 9.23 12 20 35 46 48
Operating Revenue		 12 22 20 5.47 9.23 12 20 35 46 48
Total Cost of Revenue		 6.96 14 9.98 1.65 3.52 4.55 11 16 23 21
Operating Cost of Revenue		 6.96 14 9.98 1.65 3.52 4.55 11 16 23 21
Total Operating Expenses		 5.26 13 15 11 18 39 95 61 77 56
Selling, General & Admin Expense		 5.26 13 13 8.28 10 23 27 27 31 25
Marketing Expense		 - - 1.76 1.65 2.14 4.47 8.33 7.35 7.86 6.17
Research & Development Expense		 - - 0.13 1.43 3.19 8.29 19 18 19 15
Depreciation Expense		 - - - - 1.96 3.09 6.42 7.89 9.49 6.26
Impairment Charge		 - - 0.00 - - 0.00 35 0.00 10 3.75
Total Other Income / (Expense), net		 -0.17 -0.70 -0.56 -4.82 -2.09 0.77 1.34 -3.54 -7.04 -2.53
Interest Expense		 0.17 0.21 0.49 5.02 5.78 -0.86 0.02 3.07 8.24 2.30
Other Income / (Expense), net		 0.00 -0.48 -0.07 0.20 3.69 -0.09 1.36 -0.47 -0.30 -0.12
Income Tax Expense		 -0.22 -0.29 0.03 0.05 0.02 -3.82 -0.99 0.03 0.05 0.04
Basic Earnings per Share		 ($0.01) ($0.51) ($0.44) ($0.85) ($0.64) ($0.66) ($1.67) ($0.72) ($0.71) ($0.26)
Weighted Average Basic Shares Outstanding		 7.68M 11.77M 15.41M 20.03M 24.19M 41.16M 49.81M 63.17M 86.72M 119.67M
Weighted Average Diluted Shares Outstanding		 7.68M 11.77M 15.41M 20.03M 24.19M 41.16M 61.12M 85.32M 110.91M 136.58M
Weighted Average Basic & Diluted Shares Outstanding		 - 14.50M 15.41M 20.03M 24.19M 41.16M 61.12M 85.32M 110.91M 136.58M

Quarterly Income Statements for Rekor Systems

This table shows Rekor Systems' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -11 -11 -19 -9.80 -13 -22 -11 -8.66 -4.15 -7.78 -9.36
Consolidated Net Income / (Loss)		 -11 -11 -19 -9.80 -13 -20 -11 -8.66 -4.15 -7.78 -9.36
Net Income / (Loss) Continuing Operations		 -11 -11 -19 -9.80 -13 -22 -11 -8.66 -4.15 -7.78 -9.36
Total Pre-Tax Income 		-11 -11 -19 -9.80 -13 -20 -11 -8.66 -4.15 -7.74 -9.36
Total Operating Income		 -9.80 -9.35 -13 -10 -13 -18 -10 -7.74 -3.97 -7.04 -8.82
Total Gross Profit		 4.80 5.89 4.49 6.65 4.64 6.90 4.44 6.11 9.00 7.52 5.38
Total Revenue		 9.12 11 9.78 12 11 13 9.20 12 14 13 10
Operating Revenue		 9.12 11 9.78 12 11 13 9.20 12 14 13 10
Total Cost of Revenue		 4.32 5.18 5.29 5.78 5.90 6.38 4.76 6.25 5.20 5.18 4.88
Operating Cost of Revenue		 4.32 5.18 5.29 5.78 5.90 6.38 4.76 6.25 5.20 5.18 4.88
Total Operating Expenses		 15 15 17 17 17 25 15 14 13 15 14
Selling, General & Admin Expense		 6.87 7.09 7.66 7.37 8.64 7.01 7.29 6.94 6.30 4.66 8.34
Marketing Expense		 1.50 1.91 2.41 2.02 1.72 1.70 1.76 1.70 1.47 1.25 0.92
Research & Development Expense		 4.27 4.26 5.00 4.99 4.74 4.03 3.98 3.65 3.66 3.31 3.49
Depreciation Expense		 1.96 1.97 2.33 2.34 2.40 2.42 1.56 1.56 1.55 1.60 1.46
Total Other Income / (Expense), net		 -0.76 -1.95 -5.70 0.28 0.21 -3.88 -0.74 -0.92 -0.18 -0.70 -0.54
Interest Expense		 0.91 1.93 5.75 0.54 0.50 -2.70 0.59 0.59 0.57 0.55 0.49
Other Income / (Expense), net		 0.14 -0.02 0.05 0.82 -0.80 -6.58 -0.15 -0.34 0.39 -0.02 -0.05
Basic Earnings per Share		 ($0.16) ($0.15) ($0.24) ($0.12) ($0.14) ($0.22) ($0.10) ($0.07) ($0.03) ($0.06) ($0.07)
Weighted Average Basic Shares Outstanding		 66.67M 63.17M 78.89M 84.93M 89.29M 86.72M 106.82M 117.44M 125.64M 119.67M 136.65M
Weighted Average Diluted Shares Outstanding		 69.15M 85.32M 85.36M 88.50M 93.83M 110.91M 118.08M 126.33M 126.69M 136.58M 137.61M
Weighted Average Basic & Diluted Shares Outstanding		 69.15M 85.32M 85.36M 88.50M 93.83M 110.91M 118.08M 126.33M 126.69M 136.58M 137.61M

Annual Cash Flow Statements for Rekor Systems

This table details how cash moves in and out of Rekor Systems' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 2.22 -0.83 0.81 -0.90 19 5.59 -24 13 -10 12
Net Cash From Operating Activities		 -0.14 -3.17 -2.05 -21 -15 -18 -40 -33 -32 -20
Net Cash From Continuing Operating Activities		 -0.14 -3.17 -3.08 -7.26 -11 -19 -40 -32 -32 -20
Net Income / (Loss) Continuing Operations		 -0.04 -5.04 -5.71 -12 -14 -27 -83 -46 -61 -31
Consolidated Net Income / (Loss)		 -0.04 -5.04 -5.70 -16 -14 -27 -83 -46 -61 -31
Depreciation Expense		 0.05 0.14 0.31 0.32 0.38 0.63 2.36 3.52 3.88 3.84
Amortization Expense		 0.00 0.66 0.83 2.16 2.24 2.77 4.07 6.37 6.16 2.62
Non-Cash Adjustments To Reconcile Net Income		 0.16 0.83 0.98 1.56 1.04 3.21 39 3.92 19 6.81
Changes in Operating Assets and Liabilities, net		 -0.31 0.24 0.51 1.11 -0.87 1.89 -2.00 -0.30 -0.40 -2.18
Net Cash From Investing Activities		 -0.04 -0.29 0.40 -0.56 4.59 -47 -8.39 0.27 -9.03 -2.17
Net Cash From Continuing Investing Activities		 -0.04 -0.29 0.47 -0.55 4.59 -47 -8.26 0.27 -9.03 -2.17
Purchase of Property, Plant & Equipment		 -0.04 -0.29 -1.00 -0.80 -1.04 -4.37 -2.99 -1.39 -1.68 -2.53
Acquisitions		 0.00 - - 0.00 0.00 0.00 -6.39 0.00 -9.22 0.00
Sale of Property, Plant & Equipment		 - 0.00 1.48 0.00 - - 0.00 0.18 0.03 0.08
Divestitures		 0.00 - - 0.00 5.70 0.00 3.05 1.48 1.50 0.00
Other Investing Activities, net		 - - - - 0.00 -43 -1.94 - 0.34 0.28
Net Cash From Financing Activities		 2.39 2.63 2.47 21 30 71 24 46 31 34
Net Cash From Continuing Financing Activities		 2.39 2.63 2.41 6.79 25 71 24 46 31 34
Repayment of Debt		 -0.03 -7.11 -43 0.00 -7.57 0.00 1.00 -0.11 -14 -1.08
Repurchase of Common Equity		 -0.22 0.00 - 0.00 -0.07 -0.32 -0.10 -0.11 -0.19 -0.19
Issuance of Debt		 0.50 7.76 43 3.84 0.87 0.00 0.00 26 14 0.00
Issuance of Common Equity		 0.00 0.00 2.80 - 30 70 23 9.16 26 36
Other Financing Activities, net		 -0.13 0.48 0.02 3.05 2.18 1.08 0.21 11 4.42 -0.90

Quarterly Cash Flow Statements for Rekor Systems

This table details how cash moves in and out of Rekor Systems' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 4.58 8.35 -3.45 -8.85 7.55 -5.64 -1.02 0.86 -1.76 13 -4.26
Net Cash From Operating Activities		 -7.47 -5.51 -7.89 -10 -9.63 -4.92 -8.08 -7.66 -4.85 0.21 -3.75
Net Cash From Continuing Operating Activities		 -7.47 -5.51 -7.89 -10 -9.65 -4.92 -8.08 -7.66 -4.85 0.21 -3.75
Net Income / (Loss) Continuing Operations		 -11 -11 -19 -9.80 -13 -20 -11 -8.66 -4.15 -7.78 -9.36
Consolidated Net Income / (Loss)		 -11 -11 -19 -9.80 -13 -20 -11 -8.66 -4.15 -7.78 -9.36
Depreciation Expense		 0.83 0.83 0.97 0.98 0.97 0.96 0.95 0.96 0.94 0.99 0.86
Amortization Expense		 1.66 1.66 1.76 1.43 1.47 1.50 0.65 0.65 0.66 0.66 0.65
Non-Cash Adjustments To Reconcile Net Income		 4.04 -1.60 6.21 0.79 -0.24 13 2.22 1.01 1.32 2.65 1.04
Changes in Operating Assets and Liabilities, net		 -3.43 4.93 1.79 -3.43 0.80 0.07 -1.03 -1.61 -3.61 3.70 3.07
Net Cash From Investing Activities		 1.12 -0.38 -9.13 -0.58 1.15 -0.81 -0.25 -0.29 -1.35 -0.19 -0.28
Net Cash From Continuing Investing Activities		 1.12 -0.38 -9.13 -0.58 1.15 -0.81 -0.25 -0.29 -1.35 -0.19 -0.28
Purchase of Property, Plant & Equipment		 -0.45 -0.44 -0.16 -0.35 -0.35 -0.82 -0.35 -0.30 -1.42 -0.46 -0.39
Sale of Property, Plant & Equipment		 0.10 0.07 0.00 0.03 -0.00 0.01 0.01 0.01 0.07 -0.01 0.00
Other Investing Activities, net		 - - - - - - 0.09 - - - 0.11
Net Cash From Financing Activities		 11 14 14 1.77 16 0.09 7.31 8.81 4.44 13 -0.24
Net Cash From Continuing Financing Activities		 11 14 14 1.77 16 -0.25 7.31 8.81 4.44 13 -0.24
Repayment of Debt		 0.37 -0.43 -13 -0.02 -1.02 -0.02 -0.02 -1.02 -0.02 -0.02 -0.03
Repurchase of Common Equity		 -0.02 - - - -0.01 - -0.09 - - -0.03 -0.00
Issuance of Common Equity		 - - 26 - - - 7.66 10 4.65 14 0.00
Other Financing Activities, net		 11 0.19 -0.33 1.85 2.87 -0.23 -0.24 -0.14 -0.02 -0.41 -0.21

Annual Balance Sheets for Rekor Systems

This table presents Rekor Systems' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 5.48 21 18 29 40 126 84 92 82 85
Total Current Assets		 4.87 11 8.53 10 24 31 9.28 25 20 31
Cash & Equivalents		 2.79 1.96 2.07 1.08 21 26 1.92 15 5.01 17
Restricted Cash		 - - 0.61 0.46 0.41 0.39 0.25 0.33 0.32 0.30
Note & Lease Receivable		 0.00 1.48 - 0.00 0.34 0.34 0.34 0.34 0.34 0.20
Accounts Receivable		 2.00 6.71 2.98 0.78 1.04 0.95 3.24 4.96 7.23 8.77
Inventories, net		 0.00 0.16 0.07 0.30 1.26 1.18 1.99 3.06 4.30 3.07
Other Current Assets		 0.08 0.64 2.80 0.18 0.47 2.03 1.53 1.27 2.73 1.83
Plant, Property, & Equipment, net		 0.12 0.70 0.46 0.44 1.05 9.74 17 13 11 8.63
Total Noncurrent Assets		 0.50 8.97 9.06 18 15 84 58 54 51 46
Noncurrent Note & Lease Receivables		 - - - 0.00 1.36 1.02 0.82 2.47 2.46 1.63
Goodwill		 0.00 3.09 1.40 6.34 6.34 53 21 21 24 24
Intangible Assets		 0.00 5.47 3.46 8.24 7.04 21 21 17 14 13
Other Noncurrent Operating Assets		 0.28 0.41 4.21 0.28 0.43 8.10 15 13 10 6.83
Total Liabilities & Shareholders' Equity		 5.48 21 18 29 40 126 84 92 82 85
Total Liabilities		 1.67 9.69 9.55 32 8.54 25 35 59 48 43
Total Current Liabilities		 1.15 8.23 8.57 10 5.92 14 15 17 18 29
Short-Term Debt		 - 0.00 3.04 0.00 0.52 1.04 2.11 1.08 2.12 15
Accounts Payable		 0.58 1.39 3.44 3.68 1.77 7.00 5.96 5.14 4.33 4.36
Current Deferred Revenue		 0.00 0.12 0.21 0.75 1.13 2.44 3.04 3.60 3.44 4.60
Other Current Liabilities		 0.00 3.66 0.00 0.15 2.38 2.65 3.84 7.42 8.34 5.24
Total Noncurrent Liabilities		 3.30 1.46 0.97 22 2.62 11 19 42 30 13
Long-Term Debt		 0.46 1.41 0.88 20 1.45 0.04 2.35 25 15 0.11
Noncurrent Deferred Revenue		 0.06 0.05 0.01 0.78 0.96 0.84 1.01 1.45 1.30 1.40
Noncurrent Deferred & Payable Income Tax Liabilities		 - - 0.00 0.01 0.02 0.04 0.05 0.07 0.08 0.09
Other Noncurrent Operating Liabilities		 2.78 - 0.00 0.16 0.19 10 16 15 14 12
Commitments & Contingencies		 - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1.55 6.51 3.46 -9.04 25 101 49 33 34 43
Total Preferred & Common Equity		 1.55 6.51 3.46 -9.04 25 101 49 33 34 43
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00
Total Common Equity		 1.55 6.51 3.46 -9.04 25 101 49 33 34 43
Common Stock		 1.98 12 16 19 68 171 203 233 295 335
Retained Earnings		 -0.43 -5.83 -12 -28 -43 -70 -153 -199 -260 -292
Treasury Stock		 - - - - 0.00 -0.32 - -0.52 -0.71 -0.90

Quarterly Balance Sheets for Rekor Systems

This table presents Rekor Systems' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 88 107 98 101 80 80 81 79
Total Current Assets		 20 26 18 23 20 21 22 26
Cash & Equivalents		 7.03 12 3.09 11 3.85 4.83 3.16 12
Restricted Cash		 0.33 0.39 0.33 0.37 0.46 0.34 0.25 0.42
Note & Lease Receivable		 0.34 0.37 0.34 0.34 0.34 0.31 0.26 0.09
Accounts Receivable		 7.02 7.54 9.02 6.73 7.58 7.98 12 7.68
Inventories, net		 3.46 3.75 3.63 3.94 4.20 4.58 3.89 2.94
Other Current Assets		 1.67 1.63 1.38 1.24 3.53 3.34 2.59 2.43
Plant, Property, & Equipment, net		 14 14 13 13 10 9.75 10 8.16
Total Noncurrent Assets		 54 68 67 65 49 49 48 45
Noncurrent Note & Lease Receivables		 2.56 2.26 2.56 2.72 2.40 2.20 1.93 1.31
Goodwill		 21 24 24 24 24 24 24 24
Intangible Assets		 18 28 27 26 14 14 14 13
Other Noncurrent Operating Assets		 13 13 13 12 8.57 8.58 8.54 6.04
Total Liabilities & Shareholders' Equity		 88 107 98 101 80 80 81 79
Total Liabilities		 45 52 52 61 46 45 44 44
Total Current Liabilities		 16 20 21 31 17 15 16 29
Short-Term Debt		 1.08 1.08 2.08 13 1.08 0.08 0.08 15
Accounts Payable		 5.62 6.91 6.27 5.77 4.55 4.09 3.76 5.87
Current Deferred Revenue		 4.50 4.64 3.62 3.20 4.57 3.75 4.09 4.50
Other Current Liabilities		 5.07 7.71 9.19 8.93 6.68 7.30 7.56 4.16
Total Noncurrent Liabilities		 28 32 31 30 30 29 29 15
Long-Term Debt		 10 16 15 15 15 15 15 0.09
Noncurrent Deferred Revenue		 1.52 1.41 1.33 1.20 1.21 1.35 1.50 1.21
Noncurrent Deferred & Payable Income Tax Liabilities		 0.05 0.07 0.07 0.07 0.08 0.08 0.08 0.09
Other Noncurrent Operating Liabilities		 17 15 15 14 13 13 13 13
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 44 55 46 40 33 35 36 34
Total Preferred & Common Equity		 44 55 46 40 33 35 36 34
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 44 55 46 40 33 35 36 34
Common Stock		 231 273 274 281 305 316 321 336
Retained Earnings		 -187 -217 -227 -240 -271 -280 -284 -301
Treasury Stock		 - -0.70 -0.70 - -0.80 -0.87 -0.87 -0.90

Annual Metrics And Ratios for Rekor Systems

This table displays calculated financial ratios and metrics derived from Rekor Systems' official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 28,617,568.00 18,767,619.00 21,033,005.00 32,974,257.00 43,977,218.00 54,347,551.00 69,147,093.00 - 126,689,797.00
DEI Adjusted Shares Outstanding		 0.00 28,617,568.00 18,767,619.00 21,033,005.00 32,974,257.00 43,977,218.00 54,347,551.00 69,147,093.00 - 126,689,797.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -0.18 -0.30 -0.76 -0.43 -0.61 -1.53 -0.66 - -0.25
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 82.51% -9.40% -72.73% 68.84% 25.35% 72.10% 75.37% 31.76% 5.26%
EBITDA Growth		 0.00% -10,194.05% 6.41% -20.04% -13.98% -415.19% -173.42% 58.08% -56.98% 49.44%
EBIT Growth		 0.00% -5,356.46% -1.28% -41.40% -11.16% -291.47% -164.44% 49.56% -44.10% 46.91%
NOPAT Growth		 0.00% -4,840.98% -10.45% -47.06% -57.26% -168.69% -169.47% 50.90% -28.98% 46.83%
Net Income Growth		 0.00% -12,831.29% -13.13% -178.52% 10.72% -88.85% -210.34% 45.03% -34.42% 48.77%
EPS Growth		 0.00% -5,000.00% 13.73% -93.18% 24.71% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 0.00% -2,227.43% 35.24% -940.08% 29.39% -19.72% -119.65% 17.63% 0.48% 37.26%
Free Cash Flow Firm Growth		 0.00% 0.00% 66.75% 7.46% -120.89% -734.12% 56.13% 43.21% -90.38% 61.33%
Invested Capital Growth		 0.00% 897.43% 13.22% -5.87% 16.64% 483.25% -30.60% -16.18% 4.70% -10.32%
Revenue Q/Q Growth		 0.00% 0.00% -57.50% 144.13% 16.81% -16.97% 43.09% 15.15% 5.05% -1.18%
EBITDA Q/Q Growth		 0.00% 0.00% 7.62% 6.24% -23.81% -43.20% 6.88% -4.97% -44.10% 44.00%
EBIT Q/Q Growth		 0.00% 0.00% 7.96% -2.10% -12.27% -40.75% 5.62% -5.16% -34.35% 38.99%
NOPAT Q/Q Growth		 0.00% 0.00% 4.22% -6.99% -7.73% -39.95% 2.76% 0.95% -20.21% 28.36%
Net Income Q/Q Growth		 0.00% 0.00% 15.88% -17.54% 8.67% -17.01% -0.26% -9.89% -17.24% 28.56%
EPS Q/Q Growth		 0.00% 0.00% 10.20% -8.97% 8.57% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% -9.22% 0.48% -108.97% 36.77% -15.28% -10.65% 10.95% 1.80% 20.11%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 56.80% -241.11% -9.85% 8.33% 22.11% 2.37% 20.23%
Invested Capital Q/Q Growth		 0.00% 0.00% 23.17% -27.41% 22.89% 5.06% 3.89% -7.90% -19.55% -14.65%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 42.62% 37.69% 50.24% 69.79% 61.90% 60.70% 45.33% 52.77% 49.28% 55.87%
EBITDA Margin		 -0.35% -19.53% -20.18% -88.83% -59.96% -246.44% -391.55% -93.60% -111.52% -46.53%
Operating Margin		 -0.77% -20.95% -25.55% -137.76% -128.31% -275.02% -430.64% -120.56% -118.02% -59.62%
EBIT Margin		 -0.77% -23.14% -25.87% -134.14% -88.31% -275.80% -423.80% -121.90% -133.32% -59.86%
Profit (Net Income) Margin		 -0.32% -22.77% -28.44% -290.44% -153.58% -231.38% -417.24% -130.78% -133.42% -64.93%
Tax Burden Percent		 15.05% 94.48% 100.40% 128.53% 101.74% 86.21% 98.43% 100.07% 100.07% 100.13%
Interest Burden Percent		 275.85% 104.17% 109.48% 168.46% 170.93% 97.31% 100.02% 107.21% 100.00% 108.33%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -71.70% -32.48% -46.34% -69.37% -50.67% -94.43% -61.56% -85.07% -46.63%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 33.95% -191.30% -167.70% 180.19% -30.68% 104.09% -309.50% -298.73% -277.90%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -9.26% -26.27% -555.67% -29.70% 10.38% -16.08% -48.91% -96.86% -35.08%
Return on Equity (ROE)		 -2.52% -80.96% -58.75% -602.01% -99.07% -40.29% -110.51% -110.47% -181.93% -81.70%
Cash Return on Invested Capital (CROIC)		 0.00% -143.89% -44.88% -40.29% -84.73% -192.13% -58.29% -43.96% -89.66% -35.74%
Operating Return on Assets (OROA)		 -1.71% -39.28% -26.84% -31.19% -23.50% -38.40% -80.51% -48.39% -70.28% -34.55%
Return on Assets (ROA)		 -0.71% -38.66% -29.51% -67.52% -40.87% -32.21% -79.26% -51.92% -70.33% -37.48%
Return on Common Equity (ROCE)		 -2.52% -52.38% -30.16% 636.46% -55.91% -38.27% -110.51% -110.47% -181.93% -81.70%
Return on Equity Simple (ROE_SIMPLE)		 -2.52% -77.43% -165.02% 175.81% -56.30% -26.49% -168.46% -136.90% -179.87% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.07 -3.25 -3.59 -5.27 -8.29 -22 -60 -29 -38 -20
NOPAT Margin		 -0.54% -14.67% -17.88% -96.43% -89.82% -192.52% -301.45% -84.39% -82.62% -41.73%
Net Nonoperating Expense Percent (NNEP)		 0.94% -105.65% 158.82% 121.36% -249.56% -20.00% -198.52% 247.94% 213.66% 231.27%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -49.64% -74.48% -34.94%
Cost of Revenue to Revenue		 57.38% 62.31% 49.76% 30.21% 38.10% 39.30% 54.67% 47.23% 50.72% 44.13%
SG&A Expenses to Revenue		 43.39% 58.65% 66.37% 151.33% 111.31% 198.76% 133.59% 77.40% 66.65% 51.96%
R&D to Revenue		 0.00% 0.00% 0.65% 26.13% 34.49% 71.64% 93.45% 52.30% 40.77% 30.13%
Operating Expenses to Revenue		 43.39% 58.65% 75.79% 207.55% 190.21% 335.72% 475.97% 173.33% 167.30% 115.49%
Earnings before Interest and Taxes (EBIT)		 -0.09 -5.12 -5.19 -7.34 -8.16 -32 -84 -43 -61 -29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.04 -4.32 -4.05 -4.86 -5.54 -29 -78 -33 -51 -23
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 3.53 0.00 10.56 2.85 1.32 6.90 4.29 4.08
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 22.52 10.92 8.76 0.00 0.00 32.94
Price to Revenue (P/Rev)		 0.00 0.00 0.61 14.69 28.82 24.89 3.27 6.59 3.18 3.61
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 1.58 9.52 19.70 3.50 1.30 5.51 3.45 4.22
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.92 19.20 27.47 22.72 3.39 6.89 3.43 3.57
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.30 0.13 0.46 -6.32 0.06 0.01 0.09 0.78 0.50 0.35
Long-Term Debt to Equity		 0.30 0.13 0.10 -6.32 0.05 0.00 0.05 0.75 0.43 0.00
Financial Leverage		 -1.84 -0.27 0.14 3.31 -0.16 -0.34 -0.15 0.16 0.32 0.13
Leverage Ratio		 3.54 2.09 1.99 8.92 2.42 1.25 1.39 2.13 2.59 2.18
Compound Leverage Factor		 9.78 2.18 2.18 15.02 4.14 1.22 1.39 2.28 2.59 2.36
Debt to Total Capital		 22.82% 11.42% 31.49% 118.81% 5.81% 1.05% 8.28% 43.81% 33.13% 25.92%
Short-Term Debt to Total Capital		 0.00% 0.00% 24.44% 0.00% 1.53% 1.01% 3.92% 1.81% 4.14% 25.72%
Long-Term Debt to Total Capital		 22.82% 11.42% 7.05% 118.81% 4.28% 0.04% 4.37% 42.00% 28.99% 0.19%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 35.71% 40.68% 33.79% 19.72% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 77.18% 52.87% 27.83% -52.60% 74.47% 98.95% 91.72% 56.19% 66.87% 74.08%
Debt to EBITDA		 -10.89 -0.33 -0.97 -4.20 -0.36 -0.04 -0.06 -0.80 -0.33 -0.67
Net Debt to EBITDA		 55.50 0.13 -0.30 -3.88 3.45 0.88 -0.03 -0.32 -0.23 0.08
Long-Term Debt to EBITDA		 -10.89 -0.33 -0.22 -4.20 -0.26 0.00 -0.03 -0.76 -0.29 -0.01
Debt to NOPAT		 -6.96 -0.43 -1.09 -3.87 -0.24 -0.05 -0.07 -0.88 -0.44 -0.74
Net Debt to NOPAT		 35.48 0.17 -0.34 -3.58 2.30 1.13 -0.04 -0.35 -0.30 0.09
Long-Term Debt to NOPAT		 -6.96 -0.43 -0.24 -3.87 -0.17 0.00 -0.04 -0.85 -0.39 -0.01
Altman Z-Score		 0.00 0.00 -0.01 -0.53 17.30 5.61 -4.59 -1.71 -4.47 -2.84
Noncontrolling Interest Sharing Ratio		 0.00% 35.30% 48.67% 205.72% 43.57% 5.02% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 4.22 1.33 0.99 0.99 4.08 2.22 0.60 1.47 1.09 1.06
Quick Ratio		 4.15 1.23 0.59 0.18 3.71 1.96 0.36 1.20 0.69 0.88
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -15 -4.96 -4.59 -10 -84 -37 -21 -40 -15
Operating Cash Flow to CapEx		 -369.45% -1,093.41% 0.00% -2,673.18% -1,452.56% -412.49% -1,324.82% -2,694.22% -1,970.21% -829.48%
Free Cash Flow to Firm to Interest Expense		 0.00 -69.80 -10.07 -0.91 -1.75 0.00 -1,765.28 -6.86 -11.31 -6.75
Operating Cash Flow to Interest Expense		 -0.82 -14.84 -4.17 -4.25 -2.60 0.00 -1,886.29 -10.63 -9.16 -8.87
Operating Cash Flow Less CapEx to Interest Expense		 -1.05 -16.19 -3.21 -4.41 -2.78 0.00 -2,028.67 -11.03 -9.62 -9.94
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 2.21 1.70 1.04 0.23 0.27 0.14 0.19 0.40 0.53 0.58
Accounts Receivable Turnover		 6.07 5.09 4.14 2.92 10.18 11.63 9.51 8.53 7.55 6.06
Inventory Turnover		 0.00 0.00 87.25 8.81 4.49 3.73 6.89 6.54 6.35 5.80
Fixed Asset Turnover		 101.86 54.00 34.49 12.10 12.40 2.15 1.50 2.34 3.80 4.92
Accounts Payable Turnover		 12.06 14.02 4.13 0.46 1.29 1.04 1.68 2.97 4.93 4.92
Days Sales Outstanding (DSO)		 60.12 71.77 88.12 125.20 35.85 31.39 38.40 42.80 48.32 60.28
Days Inventory Outstanding (DIO)		 0.00 0.00 4.18 41.43 81.24 97.89 52.99 55.79 57.50 62.90
Days Payable Outstanding (DPO)		 30.28 26.04 88.30 786.01 282.72 351.92 217.24 122.80 74.03 74.20
Cash Conversion Cycle (CCC)		 29.85 45.73 4.00 -619.38 -165.63 -222.64 -125.85 -24.21 31.79 48.98
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 -1.30 10 12 11 13 75 52 44 46 41
Invested Capital Turnover		 -9.34 4.89 1.82 0.48 0.77 0.26 0.31 0.73 1.03 1.12
Increase / (Decrease) in Invested Capital		 0.00 12 1.37 -0.69 1.84 62 -23 -8.43 2.05 -4.72
Enterprise Value (EV)		 0.00 0.00 18 105 254 263 67 241 158 173
Market Capitalization		 0.00 0.00 12 80 266 288 65 230 146 175
Book Value per Share		 $0.20 $0.46 $0.18 ($0.43) $0.76 $2.30 $0.91 $0.48 $0.36 $0.34
Tangible Book Value per Share		 $0.20 ($0.14) ($0.07) ($1.12) $0.36 $0.60 $0.14 ($0.06) ($0.05) $0.04
Total Capital		 2.00 12 12 17 34 102 54 59 51 58
Total Debt		 0.46 1.41 3.91 20 1.97 1.07 4.46 26 17 15
Total Long-Term Debt		 0.46 1.41 0.88 20 1.45 0.04 2.35 25 15 0.11
Net Debt		 -2.33 -0.55 1.23 19 -19 -25 2.28 10 12 -1.87
Capital Expenditures (CapEx)		 0.04 0.29 -0.47 0.80 1.04 4.37 2.99 1.21 1.65 2.46
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.93 0.74 0.31 -1.64 -2.29 -8.29 -6.24 -6.54 -1.51 -0.34
Debt-free Net Working Capital (DFNWC)		 3.71 2.70 2.99 -0.10 19 18 -4.06 9.18 3.82 17
Net Working Capital (NWC)		 3.71 2.70 -0.04 -0.10 18 17 -6.17 8.10 1.71 1.64
Net Nonoperating Expense (NNE)		 -0.03 1.79 2.12 11 5.89 4.50 23 16 23 11
Net Nonoperating Obligations (NNO)		 -2.85 -0.55 3.22 14 -19 -26 2.77 10 12 -1.87
Total Depreciation and Amortization (D&A)		 0.05 0.80 1.14 2.48 2.62 3.40 6.42 9.89 10 6.46
Debt-free, Cash-free Net Working Capital to Revenue		 7.64% 3.35% 1.56% -29.95% -24.78% -71.62% -31.33% -18.72% -3.27% -0.70%
Debt-free Net Working Capital to Revenue		 30.63% 12.19% 14.91% -1.87% 202.72% 154.61% -20.40% 26.26% 8.30% 34.11%
Net Working Capital to Revenue		 30.63% 12.19% -0.22% -1.87% 197.12% 145.67% -30.97% 23.19% 3.71% 3.38%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.01) ($0.46) ($0.44) ($0.85) ($0.64) ($0.65) ($1.67) ($0.72) ($0.71) ($0.26)
Adjusted Weighted Average Basic Shares Outstanding		 7.68M 11.77M 15.41M 22.77M 40.80M 44.95M 49.81M 63.17M 86.72M 119.67M
Adjusted Diluted Earnings per Share		 ($0.01) ($0.46) ($0.44) ($0.85) ($0.64) ($0.65) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 7.68M 11.77M 15.41M 22.77M 40.80M 44.95M 61.12M 85.32M 110.91M 136.58M
Adjusted Basic & Diluted Earnings per Share		 ($0.01) ($0.46) ($0.44) ($0.85) ($0.64) ($0.65) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 14.50M 19.37M 20.03M 24.19M 41.16M 61.12M 85.32M 110.91M 136.58M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.07 -3.25 -3.59 -5.27 -8.29 -22 -36 -29 -31 -18
Normalized NOPAT Margin		 -0.54% -14.67% -17.88% -96.43% -89.82% -192.52% -179.04% -84.39% -67.08% -36.31%
Pre Tax Income Margin		 -2.14% -24.10% -28.32% -225.96% -150.95% -268.38% -423.90% -130.69% -133.32% -64.85%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -0.57 -23.99 -10.54 -1.46 -1.41 0.00 -4,020.00 -13.88 -17.31 -12.63
NOPAT to Interest Expense		 -0.40 -15.21 -7.29 -1.05 -1.43 0.00 -2,859.47 -9.61 -10.73 -8.80
EBIT Less CapEx to Interest Expense		 -0.79 -25.35 -9.59 -1.62 -1.59 0.00 -4,162.38 -14.27 -17.78 -13.69
NOPAT Less CapEx to Interest Expense		 -0.62 -16.57 -6.33 -1.21 -1.61 0.00 -3,001.85 -10.00 -11.19 -9.87
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% -4.99% -6.05% -0.68% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -556.23% -4.99% -6.05% -0.68% -0.51% -1.19% -0.12% -0.23% -0.31% -0.60%

Quarterly Metrics And Ratios for Rekor Systems

This table displays calculated financial ratios and metrics derived from Rekor Systems' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 68,951,155.00 69,147,093.00 85,324,918.00 85,358,252.00 88,503,505.00 - 110,912,209.00 118,075,944.00 126,334,034.00 126,689,797.00 136,578,177.00
DEI Adjusted Shares Outstanding		 68,951,155.00 69,147,093.00 85,324,918.00 85,358,252.00 88,503,505.00 - 110,912,209.00 118,075,944.00 126,334,034.00 126,689,797.00 136,578,177.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.15 -0.16 -0.22 -0.11 -0.14 - -0.10 -0.07 -0.03 -0.06 -0.07
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 34.54% 71.06% 58.09% 45.12% 15.65% 19.98% -5.93% -0.55% 34.59% -4.35% 11.58%
EBITDA Growth		 84.81% -29.04% -0.87% 20.32% -56.31% -228.38% 14.37% 5.69% 82.28% 66.95% 15.22%
EBIT Growth		 80.32% -28.70% -3.37% 16.76% -41.30% -167.57% 20.07% 12.74% 73.77% 62.54% 13.77%
NOPAT Growth		 79.44% 4.14% -1.81% 1.99% -31.12% -97.71% 21.50% 23.23% 69.11% 61.89% 13.04%
Net Income Growth		 78.00% -56.99% -46.78% 11.86% -19.69% -79.75% 41.58% 11.61% 67.19% 61.78% 13.91%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 -2.78% 42.11% 15.75% 2.42% -28.93% 10.79% -2.45% 23.76% 49.64% 104.27% 53.65%
Free Cash Flow Firm Growth		 65.80% -88.31% -191.32% -153.75% -346.32% -893.87% 140.58% 153.37% 132.67% 98.61% -74.20%
Invested Capital Growth		 -5.46% -16.18% 18.03% 19.34% 19.86% 4.70% -24.32% -24.08% -15.47% -10.32% -17.95%
Revenue Q/Q Growth		 6.49% 21.35% -11.64% 27.09% -15.14% 25.90% -30.72% 34.37% 14.85% -10.53% -19.18%
EBITDA Q/Q Growth		 16.56% 4.13% -47.37% 32.41% -63.68% -101.41% 47.05% 25.56% 69.25% -172.67% -35.81%
EBIT Q/Q Growth		 13.07% 3.07% -37.42% 28.10% -47.55% -83.54% 45.47% 21.51% 55.64% -97.26% -25.54%
NOPAT Q/Q Growth		 4.64% 4.66% -38.20% 22.00% -27.58% -43.75% 45.13% 23.71% 48.67% -77.38% -25.21%
Net Income Q/Q Growth		 4.92% -7.17% -64.38% 47.38% -29.11% -60.96% 46.58% 20.38% 52.08% -87.49% -20.34%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 27.44% 26.17% -43.07% -27.31% 4.12% 48.92% -64.31% 5.25% 36.67% 104.33% -1,883.33%
Free Cash Flow Firm Q/Q Growth		 -113.28% 145.75% -1,059.65% 7.85% -10.31% 18.62% 149.06% 21.19% -32.48% -103.46% 1,010.32%
Invested Capital Q/Q Growth		 -4.88% -7.90% 36.02% 0.14% -4.46% -19.55% -1.68% 0.47% 6.36% -14.65% -10.04%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 52.63% 53.19% 45.95% 53.52% 44.03% 51.95% 48.24% 49.47% 63.40% 59.23% 52.46%
EBITDA Margin		 -78.67% -62.15% -103.66% -55.13% -106.33% -170.11% -94.36% -52.28% -14.00% -42.66% -71.69%
Operating Margin		 -107.50% -84.46% -132.09% -81.07% -121.89% -139.17% -110.23% -62.59% -27.97% -55.45% -85.91%
EBIT Margin		 -105.93% -84.61% -131.59% -74.44% -129.43% -188.69% -111.81% -65.31% -25.23% -55.63% -86.41%
Profit (Net Income) Margin		 -115.87% -102.33% -190.37% -78.82% -119.91% -153.31% -118.22% -70.05% -29.23% -61.26% -91.21%
Tax Burden Percent		 100.00% 100.28% 100.00% 100.00% 100.00% 100.22% 100.00% 100.00% 100.00% 100.54% 100.00%
Interest Burden Percent		 109.38% 120.60% 144.66% 105.88% 92.64% 81.07% 105.74% 107.26% 115.86% 109.53% 105.56%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -46.79% -43.13% -64.92% -44.00% -71.72% -100.32% -67.20% -37.99% -18.31% -43.37% -72.76%
ROIC Less NNEP Spread (ROIC-NNEP)		 520.86% -116.29% -747.96% -69.80% -107.59% -168.12% -114.27% -66.07% -28.07% -102.00% -118.26%
Return on Net Nonoperating Assets (RNNOA)		 -6.87% -18.38% -19.61% -16.85% -26.08% -54.51% -20.76% -18.72% -10.25% -12.87% -24.44%
Return on Equity (ROE)		 -53.67% -61.50% -84.53% -60.85% -97.80% -154.82% -87.97% -56.71% -28.56% -56.24% -97.21%
Cash Return on Invested Capital (CROIC)		 -55.40% -43.96% -70.56% -71.59% -78.75% -89.66% -41.46% -38.45% -37.05% -35.74% -27.43%
Operating Return on Assets (OROA)		 -35.39% -33.59% -50.47% -34.72% -59.90% -99.47% -54.36% -33.31% -13.58% -32.11% -54.05%
Return on Assets (ROA)		 -38.71% -40.62% -73.01% -36.76% -55.50% -80.82% -57.48% -35.73% -15.73% -35.36% -57.06%
Return on Common Equity (ROCE)		 -53.67% -61.50% -84.53% -60.85% -97.80% -154.82% -87.97% -56.71% -28.56% -56.24% -97.21%
Return on Equity Simple (ROE_SIMPLE)		 -95.40% 0.00% -93.92% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -6.86 -6.54 -9.04 -7.05 -9.00 -13 -7.10 -5.41 -2.78 -4.93 -6.17
NOPAT Margin		 -75.25% -59.12% -92.46% -56.75% -85.32% -97.42% -77.16% -43.81% -19.58% -38.82% -60.14%
Net Nonoperating Expense Percent (NNEP)		 -567.65% 73.17% 683.04% 25.80% 35.87% 67.80% 47.07% 28.08% 9.77% 58.63% 45.49%
Return On Investment Capital (ROIC_SIMPLE)		 - -11.02% -12.61% -11.21% -13.27% -25.33% -14.41% -10.76% -5.40% -8.52% -12.47%
Cost of Revenue to Revenue		 47.37% 46.81% 54.05% 46.48% 55.97% 48.05% 51.76% 50.53% 36.60% 40.77% 47.54%
SG&A Expenses to Revenue		 75.35% 64.10% 78.36% 59.31% 81.90% 52.78% 79.21% 56.12% 44.38% 36.66% 81.25%
R&D to Revenue		 46.83% 38.50% 51.15% 40.16% 44.95% 30.38% 43.24% 29.55% 25.79% 26.04% 33.97%
Operating Expenses to Revenue		 160.13% 137.65% 178.04% 134.59% 165.91% 191.12% 158.47% 112.06% 91.37% 114.68% 138.37%
Earnings before Interest and Taxes (EBIT)		 -9.66 -9.36 -13 -9.25 -14 -25 -10 -8.07 -3.58 -7.06 -8.87
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -7.17 -6.88 -10 -6.85 -11 -23 -8.68 -6.46 -1.99 -5.42 -7.36
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.46 6.90 3.56 2.87 2.59 4.29 2.95 3.87 5.44 4.08 3.25
Price to Tangible Book Value (P/TBV)		 40.70 0.00 74.27 0.00 0.00 0.00 0.00 0.00 0.00 32.94 0.00
Price to Revenue (P/Rev)		 6.41 6.59 5.07 3.12 2.38 3.18 2.16 3.02 4.05 3.61 2.26
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 4.18 5.51 3.36 2.45 2.13 3.45 2.45 3.25 4.37 4.22 3.10
Enterprise Value to Revenue (EV/Rev)		 6.54 6.89 5.19 3.44 2.76 3.43 2.42 3.23 4.28 3.57 2.31
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.26 0.78 0.30 0.36 0.68 0.50 0.48 0.42 0.41 0.35 0.44
Long-Term Debt to Equity		 0.23 0.75 0.28 0.32 0.37 0.43 0.44 0.42 0.41 0.00 0.00
Financial Leverage		 -0.01 0.16 0.03 0.24 0.24 0.32 0.18 0.28 0.37 0.13 0.21
Leverage Ratio		 1.84 2.13 1.88 2.06 2.26 2.59 2.12 2.18 2.37 2.18 2.33
Compound Leverage Factor		 2.01 2.57 2.72 2.19 2.09 2.10 2.24 2.34 2.75 2.39 2.46
Debt to Total Capital		 20.44% 43.81% 23.32% 26.63% 40.51% 33.13% 32.29% 29.68% 29.09% 25.92% 30.35%
Short-Term Debt to Total Capital		 1.98% 1.81% 1.50% 3.30% 18.73% 4.14% 2.19% 0.16% 0.16% 25.72% 30.17%
Long-Term Debt to Total Capital		 18.47% 42.00% 21.82% 23.33% 21.78% 28.99% 30.10% 29.52% 28.93% 0.19% 0.18%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 79.56% 56.19% 76.68% 73.37% 59.49% 66.87% 67.71% 70.32% 70.91% 74.08% 69.65%
Debt to EBITDA		 -0.36 -0.80 -0.51 -0.54 -0.78 -0.33 -0.37 -0.30 -0.37 -0.67 -0.71
Net Debt to EBITDA		 -0.12 -0.32 -0.14 -0.43 -0.47 -0.23 -0.27 -0.20 -0.29 0.08 -0.11
Long-Term Debt to EBITDA		 -0.32 -0.76 -0.48 -0.47 -0.42 -0.29 -0.34 -0.30 -0.37 -0.01 0.00
Debt to NOPAT		 -0.38 -0.88 -0.56 -0.57 -0.87 -0.44 -0.44 -0.43 -0.53 -0.74 -0.78
Net Debt to NOPAT		 -0.13 -0.35 -0.15 -0.45 -0.52 -0.30 -0.32 -0.28 -0.41 0.09 -0.13
Long-Term Debt to NOPAT		 -0.34 -0.85 -0.53 -0.50 -0.47 -0.39 -0.41 -0.43 -0.53 -0.01 0.00
Altman Z-Score		 -0.33 -0.52 -0.57 -1.63 -2.39 -3.02 -3.29 -2.72 -1.67 -2.00 -3.64
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.22 1.47 1.26 0.84 0.76 1.09 1.18 1.40 1.45 1.06 0.87
Quick Ratio		 0.88 1.20 0.97 0.59 0.58 0.69 0.70 0.86 1.01 0.88 0.68
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -4.13 1.89 -18 -17 -18 -15 7.35 8.91 6.02 -0.21 1.90
Operating Cash Flow to CapEx		 -2,079.67% -1,465.96% -4,898.14% -3,098.77% -2,719.21% -607.79% -2,397.33% -2,612.63% -358.85% 44.21% -957.80%
Free Cash Flow to Firm to Interest Expense		 -4.55 0.98 -3.15 -30.69 -37.13 0.00 12.46 15.20 10.59 -0.38 3.85
Operating Cash Flow to Interest Expense		 -8.24 -2.86 -1.37 -18.46 -19.41 0.00 -13.69 -13.06 -8.54 0.38 -7.60
Operating Cash Flow Less CapEx to Interest Expense		 -8.64 -3.05 -1.40 -19.05 -20.12 0.00 -14.26 -13.56 -10.91 -0.48 -8.39
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.33 0.40 0.38 0.47 0.46 0.53 0.49 0.51 0.54 0.58 0.63
Accounts Receivable Turnover		 5.35 8.53 6.51 5.76 6.37 7.55 6.01 5.34 5.15 6.06 6.49
Inventory Turnover		 4.53 6.54 6.56 6.52 5.98 6.35 5.74 5.68 5.77 5.80 6.03
Fixed Asset Turnover		 1.97 2.34 2.58 3.01 3.27 3.80 3.74 3.95 4.28 4.92 5.33
Accounts Payable Turnover		 2.14 2.97 2.90 3.51 3.89 4.93 3.99 4.50 4.74 4.92 4.13
Days Sales Outstanding (DSO)		 68.21 42.80 56.09 63.36 57.28 48.32 60.73 68.33 70.90 60.28 56.23
Days Inventory Outstanding (DIO)		 80.63 55.79 55.67 55.95 61.01 57.50 63.58 64.31 63.27 62.90 60.57
Days Payable Outstanding (DPO)		 170.47 122.80 126.03 104.02 93.89 74.03 91.57 81.20 77.07 74.20 88.41
Cash Conversion Cycle (CCC)		 -21.63 -24.21 -14.28 15.29 24.40 31.79 32.74 51.44 57.11 48.98 28.40
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 47 44 59 59 57 46 45 45 48 41 37
Invested Capital Turnover		 0.62 0.73 0.70 0.78 0.84 1.03 0.87 0.87 0.94 1.12 1.21
Increase / (Decrease) in Invested Capital		 -2.74 -8.43 9.08 9.64 9.42 2.05 -14 -14 -8.80 -4.72 -8.07
Enterprise Value (EV)		 198 241 200 146 121 158 110 147 210 173 114
Market Capitalization		 194 230 195 132 104 146 98 137 198 175 112
Book Value per Share		 $0.63 $0.48 $0.64 $0.54 $0.46 $0.36 $0.36 $0.30 $0.29 $0.34 $0.27
Tangible Book Value per Share		 $0.07 ($0.06) $0.03 ($0.06) ($0.11) ($0.05) ($0.05) ($0.02) ($0.01) $0.04 ($0.02)
Total Capital		 55 59 72 63 68 51 49 50 51 58 49
Total Debt		 11 26 17 17 27 17 16 15 15 15 15
Total Long-Term Debt		 10 25 16 15 15 15 15 15 15 0.11 0.09
Net Debt		 3.84 10 4.45 13 17 12 12 9.77 12 -1.87 2.42
Capital Expenditures (CapEx)		 0.36 0.38 0.16 0.32 0.35 0.81 0.34 0.29 1.35 0.48 0.39
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.70 -6.54 -5.95 -4.72 -5.66 -1.51 -0.16 1.07 3.63 -0.34 -1.40
Debt-free Net Working Capital (DFNWC)		 4.66 9.18 6.32 -1.30 5.31 3.82 4.15 6.24 7.04 17 11
Net Working Capital (NWC)		 3.58 8.10 5.24 -3.38 -7.39 1.71 3.07 6.16 6.96 1.64 -3.73
Net Nonoperating Expense (NNE)		 3.70 4.78 9.57 2.74 3.65 7.42 3.78 3.24 1.37 2.85 3.19
Net Nonoperating Obligations (NNO)		 3.84 10 4.45 13 17 12 12 9.77 12 -1.87 2.42
Total Depreciation and Amortization (D&A)		 2.49 2.49 2.73 2.40 2.44 2.47 1.61 1.61 1.59 1.65 1.51
Debt-free, Cash-free Net Working Capital to Revenue		 -8.89% -18.72% -15.44% -11.12% -12.91% -3.27% -0.34% 2.36% 7.40% -0.70% -2.82%
Debt-free Net Working Capital to Revenue		 15.37% 26.26% 16.40% -3.06% 12.12% 8.30% 9.14% 13.75% 14.36% 34.11% 22.63%
Net Working Capital to Revenue		 11.80% 23.19% 13.60% -7.96% -16.86% 3.71% 6.76% 13.57% 14.19% 3.38% -7.53%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.16) ($0.15) ($0.23) ($0.12) ($0.14) ($0.22) ($0.10) ($0.07) ($0.03) ($0.06) ($0.07)
Adjusted Weighted Average Basic Shares Outstanding		 66.67M 63.17M 79.56M 84.93M 89.29M 86.72M 106.82M 117.44M 125.64M 119.67M 136.65M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 69.15M 85.32M 85.36M 88.50M 93.83M 110.91M 118.08M 126.33M 126.69M 136.58M 137.61M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 69.15M 85.32M 85.36M 88.50M 93.83M 110.91M 118.08M 126.33M 126.69M 136.58M 137.61M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.86 -6.54 -9.04 -7.05 -9.00 -13 -7.10 -5.41 -2.78 -4.93 -6.17
Normalized NOPAT Margin		 -75.25% -59.12% -92.46% -56.75% -85.32% -97.42% -77.16% -43.81% -19.58% -38.82% -60.14%
Pre Tax Income Margin		 -115.87% -102.04% -190.37% -78.82% -119.91% -152.97% -118.22% -70.05% -29.23% -60.93% -91.21%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -10.66 -4.85 -2.24 -17.01 -27.52 0.00 -17.43 -13.77 -6.30 -12.77 -17.99
NOPAT to Interest Expense		 -7.57 -3.39 -1.57 -12.96 -18.14 0.00 -12.03 -9.24 -4.89 -8.91 -12.52
EBIT Less CapEx to Interest Expense		 -11.06 -5.05 -2.27 -17.60 -28.23 0.00 -18.00 -14.27 -8.68 -13.63 -18.78
NOPAT Less CapEx to Interest Expense		 -7.97 -3.59 -1.60 -13.56 -18.85 0.00 -12.60 -9.74 -7.27 -9.77 -13.31
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -0.25% -0.23% 0.00% -0.39% -0.36% -0.31% 0.00% -0.33% -0.37% -0.60% -0.33%

Financials Breakdown Chart

Key Financial Trends

Rekor Systems (NASDAQ: REKR) continues to grow revenue, but the latest quarter shows the company is still struggling to convert that growth into profits or positive operating cash flow. Over the last four years, the pattern has been mixed: revenue has generally trended higher, but margins remain under pressure, losses are persistent, and cash generation has been inconsistent.

In Q1 2026, revenue rose to $10.3 million, up from $9.2 million in Q1 2025 and $9.8 million in Q1 2024. That’s a positive sign that the top line is moving in the right direction. Gross profit also improved to $5.4 million, but operating expenses were still much higher at $14.2 million, leading to an operating loss of $8.8 million and a net loss of $9.4 million.

Profitability remains the biggest issue. Across the periods provided, Rekor has posted quarterly net losses every quarter, with losses ranging from roughly $4.1 million to $22.4 million. While Q1 2026 was better than Q4 2024 on a year-over-year basis, the business is still far from breakeven.

Cash flow was weak in Q1 2026. Operating cash flow came in at negative $3.7 million, compared with positive $210,000 in Q4 2025 and negative $4.8 million in Q3 2025. The company also spent $393,000 on property and equipment and ended the quarter with a net cash decline of $4.3 million.

The balance sheet has improved from a year ago in some respects, but leverage remains meaningful. As of March 31, 2026, Rekor had $12.2 million in cash and equivalents, $78.5 million in total assets, and $44.0 million in total liabilities. That implies a solid equity base of $34.5 million, but also a fairly heavy liability load for a company that is still loss-making.

One encouraging trend is that equity has been rebuilt over time through share issuance. Common equity increased sharply from $272.9 million in Q1 2024 to $336.3 million in Q1 2026, reflecting ongoing capital raises. That helps liquidity, but it also signals dilution risk for existing shareholders.

Looking at the multi-year trend, revenue has been volatile but generally higher than in 2024. Quarterly revenue moved from $9.8 million in Q1 2024 to $10.3 million in Q1 2026, with a peak of $14.2 million in Q3 2025 and $13.3 million in Q4 2025. The issue is that expense growth has often outpaced gross profit, preventing sustained operating leverage.

  • Revenue is still growing year over year, with Q1 2026 revenue up from Q1 2025 and Q1 2024.
  • Gross profit improved to $5.4 million in Q1 2026, indicating the company is still generating meaningful revenue after direct costs.
  • Cash on hand was $12.2 million at the end of Q1 2026, giving the company some near-term liquidity.
  • Total equity remained positive at $34.5 million, which provides a cushion against liabilities.
  • Q4 2025 showed positive operating cash flow, but that improvement did not carry into Q1 2026.
  • Revenue has been volatile quarter to quarter, with recent peaks followed by pullbacks.
  • Large non-cash adjustments continue to play a significant role in reported cash flow.
  • Q1 2026 operating cash flow was negative $3.7 million, showing the core business is still consuming cash.
  • Net loss widened to $9.4 million in Q1 2026, keeping the company well below profitability.
  • Share dilution remains a risk, as common stock and equity balances have expanded materially over the last two years.

Bottom line: Rekor Systems is showing some top-line progress, but the financial statements still point to a company that is dependent on external capital and has not yet established consistent operating profitability. For retail investors, the key questions remain whether revenue growth can scale faster than expenses and whether cash burn can be reduced before more dilution is needed.

07/30/26 03:23 PM ETAI Generated. May Contain Errors.

Rekor Systems Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Rekor Systems' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Rekor Systems' net income appears to be on an upward trend, with a most recent value of -$31.46 million in 2025, rising from -$38.98 thousand in 2016. The previous period was -$61.41 million in 2024. View Rekor Systems' forecast to see where analysts expect Rekor Systems to go next.

Rekor Systems' total operating income in 2025 was -$28.89 million, based on the following breakdown:
  • Total Gross Profit: $27.07 million
  • Total Operating Expenses: $55.96 million

Over the last 9 years, Rekor Systems' total revenue changed from $12.13 million in 2016 to $48.45 million in 2025, a change of 299.5%.

Rekor Systems' total liabilities were at $42.52 million at the end of 2025, a 12.0% decrease from 2024, and a 2,451.3% increase since 2016.

In the past 9 years, Rekor Systems' cash and equivalents has ranged from $1.08 million in 2019 to $25.80 million in 2021, and is currently $16.57 million as of their latest financial filing in 2025.

Over the last 9 years, Rekor Systems' book value per share changed from 0.20 in 2016 to 0.34 in 2025, a change of 68.0%.


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Financial statements for NASDAQ:REKR last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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