Rekor Systems Inc Down 10.23% To $1.85 After Earnings Miss

Rekor Systems Inc (REKR) missed earnings estimates for Q4 2023 this afternoon.

Analyst expectations for Rekor Systems Inc earnings per share (EPS) were at a loss of $0.10 per share, with the company missing those estimates with a reported EPS loss of $0.16 per share, leading to a negative surprise of $0.06 per share (-60%). Rekor Systems Inc's earnings were down 60% year-over-year as the firm reported an EPS loss of $0.10 per share in its year-ago quarter. The negative annual growth shows the Technology company isn't performing well amid current economic conditions.

Revenues were upbeat at $11.1 million. That is an increase of 143.26% in revenues from the year-ago report and is 3.23% higher than consensus estimates set at $10.7 million.

The stock is down 10.23% to $1.85 after the report.

Rekor Systems Inc's revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Rekor Systems Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 46. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Rekor Systems Inc is a United States-based company. It is engaged in providing real-time roadway intelligence through AI-driven decisions. Rekor bridges commercial and government sectors with actionable, real-time vehicle recognition data. The firm uses artificial intelligence to analyze video streams and transform them into AI-driven decisions. Its machine learning software can turn most IP cameras into accurate vehicle recognition devices used to help protect lives, increase brand loyalty, and enhance operations and logistics. Its geographical segments are the United States, Canada, and Others, of which the majority of its revenue comes from the United States.