Rekor Systems, Inc. (NASDAQ:REKR) Q2 2023 Results Conference Call August 14, 2023 4:30 AM ET

Company Participants

Eyal Hen - Chief Financial Officer

David Desharnais - will President and Chief Operating Officer

Robert Berman - President and Chief Executive Officer

Conference Call Participants

Michael Lana - Northland Capital Markets

Zach Cummins - B. Riley Securities

Michael Latimore - Northland Capital Markets

Operator

Good afternoon, ladies and gentlemen, and welcome to today’s Rekor Systems Inc. Conference Call. My name is Maria, and I will be your coordinator for today. [Operator Instructions] As a reminder, this conference call is being recorded for replay purposes.

Before we start, I want to read you the Company’s abbreviated Safe Harbor statement. I want to remind you that statements made in this conference call concerning future revenues, results of operations, financial position, markets, economic conditions, products and product releases, partnerships and any other statements that may be construed as a prediction of future performance or events are forward-looking statements. Such statements can involve known and unknown risks, uncertainties, and other factors, which may cause actual results to differ materially from those expressed or implied by such statements. We ask that you refer to the full disclaimer in our earnings release. You should also review a description of the risk factors contained in our annual and quarterly filings with the SEC.

Non-GAAP results will also be discussed on the call. The company believes the presentation of non-GAAP information provides useful supplementary data concerning the company’s ongoing operations and is provided for informational purposes only.

I want to turn the presentation over to Mr. Eyal Hen, CFO of Rekor Systems.

Eyal Hen

Hi everyone. Thank you for joining us to discuss our results for the six and three-months ending June 30, 2023. We are excited to share our continuing progress with you. I would like to begin by underscoring our continuous revenue momentum and the accelerated achievements we have seen recently.

Our journey on the rapid growth trajectory began with a strategic acquisition of the company formerly known as Waycare in September of 2021. This acquisition not only marked a significant milestone for us, but was seamlessly integrated, becoming the cornerstone of our command AI transportation management platform.

Building on that milestone, in June of 2022, we closed the acquisition of the company, formerly known as Southern Traffic Services, STS, which has now been integrated and Floris as the record traffic services division of Rekor.