Rekor Systems Unveils AI-Powered Traffic Incident Priority Ranking, Expands Operations in New Mexico

Rekor Unveils Industry's First AI-Powered Traffic Incident Priority Ranking in Rekor Command™ Platform for Faster Emergency Response and Roadway Safety. By Investing.com

COLUMBIA, Md., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Rekor Systems, Inc. (NASDAQ: NASDAQ:REKR), a leader in developing and implementing state-of-the-art roadway intelligence technology, unveiled its new roadway Incident Priority Ranking feature at the Transportation Research Board's (TRB) 2025 Annual Meeting in Washington, DC. This prestigious event brings together thousands of transportation professionals from around the globe, featuring sessions and workshops on all modes of transportation and topics relevant to policymakers, administrators, practitioners, researchers, and representatives from government, industry, and academia. The new Rekor Command™ Incident Priority Ranking feature provides traffic and emergency operations center operators with AI-powered, tailored decision support, enabling them to prioritize and respond to high-impact incidents more quickly, accurately, and efficiently in real-time. Data overload and a lack of real-time insights often hinder effective decision-making in the fast-paced traffic management environment. AI-powered ranking addresses this challenge based on customizable criteria unique to each agency. Using advanced multi-factor prioritization technology, identified incidents are ranked to show the roadway events that most enhance safety and efficiency by immediate action. This helps reduce fatigue by delivering helpful AI-driven insights when needed most, allowing operators to optimize resource allocation and ensure rapid responses to high-priority situations. "Incident Priority Ranking helps agencies improve traffic safety management," said Shobhit Jain, SVP of Global Product Management at Rekor. "Automated intelligent incident prioritization assists operators in focusing on the most critical issues, delivering high-impact results. Rekor Command™ allows agencies to maintain consistent service levels and achieve their goals more precisely and efficiently." This groundbreaking feature provides operators with unparalleled clarity and control. Whether responding to a multi-vehicle collision or monitoring congestion during severe weather, operators can allocate resources effectively and take decisive actions that directly impact safety and traffic flow. In early release with existing customers, this feature has demonstrated a reduction in the time required to move from detection to resource allocation decisions to detected incidents by 60%. This improvement is achieved by significantly reducing the time necessary to collect data and verify ground truth, enabling faster, more informed resource allocation decisions. The Priority Ranking feature demonstrates Rekor's ongoing commitment to finding new ways to use AI to enhance roadway safety and efficiency. By empowering agencies to maintain service standards and improve incident response times, Rekor is driving the future of resilient and sustainable infrastructure. Learn how Rekor Command™ and its new Incident Priority Ranking feature transform traffic management by visiting rekor.ai/software/command. About Rekor Systems, Inc. Rekor Systems, Inc. (NASDAQ: REKR) is a leader in developing and implementing state-of-the-art roadway intelligence systems using AI-enabled computer vision and machine learning. As a pioneer in the implementation of digital infrastructure, Rekor is collecting, connecting, and organizing the world's mobility data " laying the foundation for a digitally-enabled operating system for the roadway. With our Rekor One ® Roadway Intelligence Engine at the core of our technology, we aggregate and transform trillions of data points into intelligence through proprietary computer vision, machine learning, and big data analytics that power our platforms and applications. Our solutions provide actionable insights that give governments and businesses a comprehensive picture of roadways while providing a collaborative environment that drives the world to be safer, greener, and more efficient. To learn more, please visit our website: https://rekor.ai, and follow Rekor on social media on LinkedIn, X (formerly Twitter), Threads, and Facebook (NASDAQ:META). Forward-Looking Statements This press release and its links and attachments contain statements concerning Rekor Systems, Inc. and its future expectations, plans, and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size and shape of the global market for the Company's products and services. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risk that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.

Rekor Unveils Industry's First AI-Powered Traffic Incident Priority Ranking in Rekor Command™ Platform for Faster Emergency Response and Roadway Safety.

COLUMBIA, Md., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Rekor Systems, Inc. (NASDAQ: REKR), a leader in developing and implementing state-of-the-art roadway intelligence technology, unveiled its new roadway Incident Priority Ranking feature at the Transportation Research Board's (TRB) 2025 Annual Meeting in Washington, DC. This prestigious event brings together thousands of transportation professionals from around the globe, featuring sessions and workshops on all modes of transportation and topics relevant to policymakers, administrators, practitioners, researchers, and representatives from government, industry, and academia. The new Rekor Command™ Incident Priority Ranking feature provides traffic and emergency operations center operators with AI-powered, tailored decision support, enabling them to prioritize and respond to high-impact incidents more quickly, accurately, and efficiently in real-time. Data overload and a lack of real-time insights often hinder effective decision-making in the fast-paced traffic management environment. AI-powered ranking addresses this challenge based on customizable criteria unique to each agency. Using advanced multi-factor prioritization technology, identified incidents are ranked to show the roadway events that most enhance safety and efficiency by immediate action. This helps reduce fatigue by delivering helpful AI-driven insights when needed most, allowing operators to optimize resource allocation and ensure rapid responses to high-priority situations. "Incident Priority Ranking helps agencies improve traffic safety management," said Shobhit Jain, SVP of Global Product Management at Rekor. "Automated intelligent incident prioritization assists operators in focusing on the most critical issues, delivering high-impact results. Rekor Command™ allows agencies to maintain consistent service levels and achieve their goals more precisely and efficiently." This groundbreaking feature provides operators with unparalleled clarity and control. Whether responding to a multi-vehicle collision or monitoring congestion during severe weather, operators can allocate resources effectively and take decisive actions that directly impact safety and traffic flow. In early release with existing customers, this feature has demonstrated a reduction in the time required to move from detection to resource allocation decisions to detected incidents by 60%. This improvement is achieved by significantly reducing the time necessary to collect data and verify ground truth, enabling faster, more informed resource allocation decisions. The Priority Ranking feature demonstrates Rekor's ongoing commitment to finding new ways to use AI to enhance roadway safety and efficiency. By empowering agencies to maintain service standards and improve incident response times, Rekor is driving the future of resilient and sustainable infrastructure. Learn how Rekor Command™ and its new Incident Priority Ranking feature transform traffic management by visiting rekor.ai/software/command. About Rekor Systems, Inc. Rekor Systems, Inc. (NASDAQ: REKR) is a leader in developing and implementing state-of-the-art roadway intelligence systems using AI-enabled computer vision and machine learning. As a pioneer in the implementation of digital infrastructure, Rekor is collecting, connecting, and organizing the world's mobility data - laying the foundation for a digitally-enabled operating system for the roadway. With our Rekor One® Roadway Intelligence Engine at the core of our technology, we aggregate and transform trillions of data points into intelligence through proprietary computer vision, machine learning, and big data analytics that power our platforms and applications. Our solutions provide actionable insights that give governments and businesses a comprehensive picture of roadways while providing a collaborative environment that drives the world to be safer, greener, and more efficient. To learn more, please visit our website: https://rekor.ai, and follow Rekor on social media on LinkedIn, X (formerly Twitter), Threads, and Facebook.

Rekor Systems expands traffic analytics in New Mexico By Investing.com

COLUMBIA, MD - Rekor Systems, Inc. (NASDAQ: NASDAQ:REKR), a company specializing in roadway intelligence technology, has announced an expansion of its traffic analytics solutions in New Mexico. The company, which has demonstrated strong revenue growth of 44% in the past year according to InvestingPro data, continues to expand its market presence despite challenging market conditions. The New Mexico Department of Transportation (NMDOT) has increased its use of Rekor Discover™ and Rekor's Edge Series systems, which are AI-driven and video-based, to capture traffic data. This move follows a successful initial deployment in January 2024 and marks a significant increase in the adoption of Rekor's technology throughout the state. Rekor's systems are noted for their efficiency and safety advantages over traditional traffic analysis methods, which often involve more intrusive installations and can be less reliable in harsh weather conditions. With a gross profit margin of nearly 50%, InvestingPro analysis indicates the company's technology solutions are delivering strong operational efficiency despite current market challenges. InvestingPro subscribers can access 11 additional key insights about Rekor's financial health and market position. Rekor's technology uses artificial intelligence at the roadside with high-resolution video streams to gather accurate traffic data, including vehicle volume, speed, and classification. The data is essential for infrastructure planning and monitoring roadway usage. The systems are designed for quick installation, allowing for rapid access to insights without the need for extensive roadwork or disruptions to traffic. The expansion in New Mexico is indicative of the broader trend of Rekor's technology gaining traction across the United States, with multiple states at different stages of adopting or deploying the technology. David Desharnais, President and CEO of Rekor Systems, highlighted the importance of third-party installation and deployment as a critical step towards domestic and international scalability. The company's technology aligns with the practices of over 60 countries that collect traffic data for transportation planning, as reported by the International Road Federation's World Road Statistics. Rekor's scalable solutions through third-party installations position it to support global efforts in enhancing roadway intelligence. Trading near its InvestingPro calculated Fair Value, with a market capitalization of $191 million, the company has shown strong momentum with significant returns over the past three months, though investors should note its current overbought status. Rekor Systems, based on the information provided in a press release statement, continues to establish its traffic analytics technology as a reliable solution for transportation agencies looking to improve roadway safety and decision-making. The NMDOT's expansion reflects confidence in Rekor's offerings as a transformative solution for modern traffic data collection. In other recent news, Rekor Systems has seen significant developments. The company reported a 16% year-over-year increase in Q3 revenues, reaching $10.5 million, and a 37% increase for the first nine months, totaling $32.8 million. The Urban Mobility segment, which brought in recurring revenue of $5.5 million in Q3, was a significant contributor to this growth. In addition to its financial growth, Rekor Systems announced the resignation of Anne Townsend from its board of directors, a decision made due to personal commitments and not because of disagreements with the company. Rekor Systems is also making strategic advances, with partnerships and deployments in states such as Florida, New York, and New Mexico, and is leveraging relationships with AWS and NVIDIA (NASDAQ:NVDA) to enhance its technology capabilities. The company anticipates a potential 40% compound annual growth rate in revenue over the next five years, driven by deployments of AI Edge units across U.S. roadways. Despite a decrease in adjusted gross margin due to specific project and weather-related challenges, Rekor Systems is optimistic about achieving positive cash flow by 2025 through cost optimization efforts expected to save $15 million annually. These are the recent developments for Rekor Systems.