Rekor Systems Inc
For the period ended Jun 30, 2024. Filed Aug 14, 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.
Jun 30, 2024 · Filed Aug 14, 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)
| Six Months Ended June 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net loss | $(28,409) | $(23,795) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Bad debt expense | 314 | 43 |
| Depreciation | 1,949 | 1,859 |
| Amortization of right-of-use financing lease asset | 384 | 22 |
| Non-cash operating lease expense | 455 | 314 |
| Share-based compensation | 2,282 | 2,156 |
| Amortization of debt discount | 455 | 960 |
| Amortization of intangible assets | 2,343 | 2,073 |
| Impairment of SAFE Agreement | - | 101 |
| Loss due to the remeasurement of the STS Earnout and Contingent Consideration | 100 | 91 |
| Gain on remeasurement of ATD Holdback Shares | (745) | - |
| Loss on the sale of property and equipment | 8 | 16 |
| Loss (gain) on extinguishment of debt | 4,693 | (527) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (1,191) | (2,508) |
| Inventory | 302 | (1,064) |
| Other current assets | 42 | (194) |
| Deposits | 12 | 12 |
| Accounts payable, accrued expenses and other current liabilities | (269) | 885 |
| Contract liabilities | (111) | 1,074 |
| Lease liability | (540) | (718) |
| Net cash used in operating activities - continuing operations | (17,926) | (19,200) |
| Net cash used in operating activities - discontinued operations | - | (449) |
| Net cash used in operating activities | (17,926) | (19,649) |
| Cash Flows from Investing Activities: | ||
| Capital expenditures | (512) | (490) |
| Proceeds from the sale of property and equipment | 27 | 14 |
| Cash paid for ATD acquisition, net | (9,222) | - |
| Net cash used in investing activities | (9,707) | (476) |
| Cash Flows from Financing Activities: | ||
| Proceeds from the public offering | 26,362 | - |
| 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 |
| Net proceeds from the exercise of the pre-funded warrants | - | 1 |
| Proceeds from notes receivable | 170 | 170 |
| Net proceeds from exercise of options | 3 | 31 |
| Net proceeds from exercise of warrants | 1,960 | - |
| Repayments of loans payable | (37) | (54) |
| Payments for financing leases | (441) | (277) |
| Repurchases of common stock | (180) | (89) |
| Repayment of 2023 Promissory Notes | (12,500) | - |
| Net cash provided by financing activities | 15,337 | 20,441 |
| Net (decrease) increase in cash, cash equivalents and restricted cash - continuing operations | (12,296) | 765 |
| Net decrease in cash, cash equivalents and restricted cash - discontinued operations | - | (449) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (12,296) | 316 |
| Cash, cash equivalents and restricted cash at beginning of period | 15,713 | 2,468 |
| Cash, cash equivalents and restricted cash at end of period | $3,417 | $2,784 |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents at end of period | $3,089 | $2,438 |
| Restricted cash at end of period | 328 | 346 |
| Cash, cash equivalents and restricted cash at end of period | $3,417 | $2,784 |
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