Rekor Systems Inc

For the period ended Sep 30, 2024. Filed Nov 14, 2024.

About this filing

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.

Sep 30, 2024 · Filed Nov 14, 2024

REKR$0.32-8.0%Stored close · as of Nov 10, 2026

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Contents

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share and per share amounts)

	September 30, 2024	December 31, 2023
(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$10,602	$15,385
Restricted cash	365	328
Accounts receivable, net	6,728	4,955
Inventory	3,944	3,058
Note receivable, current portion	340	340
Other current assets	1,238	1,270
Total current assets	23,217	25,336
Long-term assets
Property and equipment, net	12,693	13,188
Right-of-use operating lease assets, net	9,283	9,584
Right-of-use financing lease assets, net	2,494	1,989
Goodwill	24,313	20,593
Intangible assets, net	25,830	17,239
Note receivable, long-term	227	482
Deposits	3,138	3,740
Total long-term assets	77,978	66,815
Total assets	$101,195	$92,151
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable and accrued expenses	5,773	5,139
Notes payable, current portion	1,000	1,000
Loan payable, current portion	78	75
Prepaid Advance liability, at fair value	11,621	-
Lease liability operating, short-term	1,914	1,261
Lease liability financing, short-term	855	547
Contract liabilities	3,200	3,604
Liability for ATD Holdback Shares, at fair value	698	-
Other current liabilities	5,467	5,610
Total current liabilities	30,606	17,236
Long-term Liabilities
Notes payable, long-term	-	1,000
2023 Promissory Notes, net of debt discount of $0 and $1,012, respectively	-	2,988
2023 Promissory Notes - related party, net of debt discount of $0 and $2,149, respectively	-	6,351
Series A Prime Revenue Sharing Notes, net of debt discount of $296 and $447, respectively	9,704	9,553
Series A Prime Revenue Sharing Notes - related party, net of debt discount of $148 and $223, respectively	4,852	4,777
Loan payable, long-term	214	273
Lease liability operating, long-term	12,486	13,445
Lease liability financing, long-term	1,151	1,057
Contract liabilities, long-term	1,196	1,449
Deferred tax liability	65	65
Other non-current liabilities	587	587
Total long-term liabilities	30,255	41,545
Total liabilities	60,861	58,781
Commitments and contingencies (Note 8)
Stockholders' equity
Preferred stock, $0.0001 par value, 2,000,000 authorized, 505,000 shares designated as Series A and 240,861 shares designated as Series B as of September 30, 2024 and December 31, 2023, respectively. No preferred stock was issued or outstanding as of September 30, 2024 or December 31, 2023, respectively.	-	-
Common stock, $0.0001 par value; 300,000,000 authorized shares; 91,114,540 and 69,273,334 shares issued as of September 30, 2024 and December 31, 2023, respectively; 90,955,020 and 69,176,826 shares outstanding as of September 30, 2024 and December 31, 2023, respectively.	9	7
Treasury stock, 159,520 and 96,508 shares as of September 30, 2024 and December 31, 2023, respectively.	(711)	(522)
Additional paid-in capital	280,774	232,568
Accumulated deficit	(239,738)	(198,683)
Total stockholders’ equity	40,334	33,370
Total liabilities and stockholders’ equity	$101,195	$92,151

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