Rekor Systems, Inc. (NASDAQ:REKR) Q3 2023 Earnings Conference Call November 14, 2023 4:30 AM ET
Company Participants
Eyal Hen - Chief Financial Officer
David Desharnais - President and COO
Robert Berman - Chairman and CEO
Conference Call Participants
Mike Latimore - Northland Capital Markets
Zach Cummins - B. Riley Securities
KC Ambrecht - Shay Capital
Operator
Good morning, ladies and gentlemen. And welcome to today’s Rekor Systems, Inc. Conference Call. My name is John, and I’ll 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 the 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 disclaimers 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.
And now I want to turn the presentation over to Mr. Eyal Hen, CFO of Rekor Systems.
Eyal Hen
Hi, everyone. Thanks for joining us to discuss our results for the three months and nine months ending September 30, 2023. We are happy to share our continued progress with you. I would like to start off by sharing two slides with you that I think really demonstrate the progress that Rekor made.
Over the past five years since we have been tracking our technology revenue, Rekor has delivered a 268% compound annual growth rate or CAGR. This has included multiple challenges and times when we have been constrained by limited resources.
We have made significant investments in our roadway intelligence technology and successfully integrated two acquisitions. During this time, we quickly gained a significant foothold in the transportation market and are becoming well recognized as top leaders within the industry.