Rekor Systems Inc
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 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.
See the whole filing, with its images and exhibitsContents
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net loss | $(41,055) | $(34,361) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Bad debt expense | 945 | 133 |
| Depreciation | 2,916 | 2,688 |
| Amortization of right-of-use financing lease asset | 650 | 146 |
| Non-cash operating lease expense | 699 | 489 |
| Share-based compensation | 3,430 | 3,237 |
| Amortization of debt discount | 492 | 1,475 |
| Amortization of intangible assets | 3,509 | 3,091 |
| Impairment of SAFE Agreement | - | 101 |
| Loss due to the remeasurement of the STS Earnout and Contingent Consideration | 100 | 139 |
| Gain on remeasurement of ATD Holdback Shares | (937) | - |
| Gain on the sale of property and equipment | (18) | (23) |
| Gain on the sale of Global Public Safety | (1,500) | |
| Loss (gain) on extinguishment of debt | 4,693 | (527) |
| Loss on the remeasurement of Prepaid Advance | 21 | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 465 | (3,919) |
| Inventory | (308) | (1,291) |
| Other current assets | 186 | (260) |
| Deposits | 220 | 21 |
| Accounts payable, accrued expenses and other current liabilities | (699) | 1,335 |
| Contract liabilities | (657) | 1,971 |
| Lease liability | (704) | (1,111) |
| Net cash used in operating activities - continuing operations | (27,552) | (26,666) |
| Net cash used in operating activities - discontinued operations | - | (449) |
| Net cash used in operating activities | (27,552) | (27,115) |
| Cash Flows from Investing Activities: | ||
| Capital expenditures | (862) | (944) |
| Proceeds from the Roker SAFE | - | 1,481 |
| Proceeds from the sale of property and equipment | 23 | 109 |
| Proceeds from the sale of Global Public Safety | 1,500 | - |
| Cash paid for ATD acquisition, net | (9,222) | - |
| Net cash (used in) provided by investing activities | (8,561) | 646 |
| 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 warrants associated with 2023 Registered Direct Offering | - | 10,996 |
| Net proceeds from the exercise of the pre-funded warrants | - | 1 |
| Proceeds from notes receivable | 255 | 255 |
| Net proceeds from exercise of options | 3 | 158 |
| Net proceeds from exercise of warrants | 5,145 | - |
| Net proceeds from the Prepaid Advance | 14,100 | - |
| Net proceeds from exercise of warrants associated with series A preferred stock | - | 32 |
| Repayments of loans payable | (56) | (80) |
| Payments for financing leases | (753) | (556) |
| Repurchases of common stock | (189) | (105) |
| Repayment of STS Notes | (1,000) | - |
| Repayment of 2023 Promissory Notes | (12,500) | - |
| Net cash provided by financing activities | 31,367 | 31,360 |
| Net (decrease) increase in cash, cash equivalents and restricted cash - continuing operations | (4,746) | 5,340 |
| Net decrease in cash, cash equivalents and restricted cash - discontinued operations | - | (449) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (4,746) | 4,891 |
| Cash, cash equivalents and restricted cash at beginning of period | 15,713 | 2,468 |
| Cash, cash equivalents and restricted cash at end of period | $10,967 | $7,359 |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents at end of period | $10,602 | $7,034 |
| Restricted cash at end of period | 365 | 325 |
| Cash, cash equivalents and restricted cash at end of period | $10,967 | $7,359 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.