Rekor Systems Inc
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
REKR$0.32-8.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net loss | $(18,614) | $(12,682) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Bad debt expense | 30 | 18 |
| Depreciation | 974 | 914 |
| Amortization of right-of-use lease asset | 186 | - |
| Non-cash operating lease expense | 219 | 153 |
| Share-based compensation | 1,167 | 1,112 |
| Amortization of debt discount | 399 | 444 |
| Amortization of intangible assets | 1,172 | 1,041 |
| Loss due to the remeasurement of the STS Contingent Consideration | 100 | 45 |
| Loss (gain) on extinguishment of debt | 4,693 | (527) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 566 | (1,078) |
| Inventory | (427) | (728) |
| Other current assets | (208) | (451) |
| Deposits | 7 | 6 |
| Accounts payable, accrued expenses and other current liabilities | 1,236 | 1,066 |
| Contract liabilities | 996 | 1,542 |
| Operating lease liability | (382) | (365) |
| Net cash used in operating activities - continuing operations | (7,886) | (9,490) |
| Net cash provided by operating activities - discontinued operations | - | 130 |
| Net cash used in operating activities | (7,886) | (9,360) |
| Cash Flows from Investing Activities: | ||
| Capital expenditures | (161) | (728) |
| Cash paid for ATD acquisition, net | (8,969) | - |
| Net cash used in investing activities | (9,130) | (728) |
| Cash Flows from Financing Activities: | ||
| Proceeds from the public offering | 26,362 | - |
| Repayment of 2023 Promissory Notes | (12,500) | - |
| Net proceeds 2022 Promissory Notes - related party, exchanged for 2023 Promissory Notes - related party | - | 400 |
| Net proceeds 2023 Promissory Notes | - | 4,000 |
| Net proceeds 2023 Promissory Notes - related party | - | 7,100 |
| Net proceeds 2023 Registered Direct Offering | - | 9,159 |
| Proceeds from notes receivable | 57 | 85 |
| Net proceeds from exercise of options | - | 15 |
| Payments related to financing leases | (150) | - |
| Repayments of loans payable | (19) | (27) |
| Repurchases of common stock | (180) | (89) |
| Net cash provided by financing activities | 13,570 | 20,643 |
| Net (decrease) increase in cash, cash equivalents and restricted cash and cash equivalents - continuing operations | (3,446) | 10,425 |
| Net increase in cash, cash equivalents and restricted cash and cash equivalents - discontinued operations | - | 130 |
| Net (decrease) increase in cash, cash equivalents and restricted cash and cash equivalents | (3,446) | 10,555 |
| Cash, cash equivalents and restricted cash and cash equivalents at beginning of period | 15,713 | 2,468 |
| Cash, cash equivalents and restricted cash and cash equivalents at end of period | $12,267 | $13,023 |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents at end of period - continuing operations | $11,881 | $12,066 |
| Restricted cash and cash equivalents at end of period - continuing operations | 386 | 378 |
| Cash and cash equivalents at end of period - discontinued operations | - | 579 |
| Cash, cash equivalents and restricted cash and cash equivalents at end of period | $12,267 | $13,023 |
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