Rekor Systems (NASDAQ: REKR)

Nov 29, 2023

∙ Paid

Rekor Solutions (REKR) provides software systems to state departments of transportation that enable traffic analysis.

We think REKR is exaggerating its contract value by about half. We come to that conclusion based on close analysis of state contract databases.

Two contracts in South Carolina and Florida were booked at $14 mln in total. But a review of the South Carolina State Fiscal Accountability Authority and the Florida Department of Transportation databases indicates values of about half that amount.
A search came up dry for any contracts matching the $1 mln award REKR reported in Alabama.
We believe a Florida contract was double booked.
A Pennsylvania contract reported at $1 mln was, we believe, $446,000.

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