Rekor Raises $75 Million, Now $600+ Million Valuation

By Isabella Cheng, Published Feb 25, 2021, 08:35am EST

Rekor's stock has increased 20x in the last 2 years, now at $600+ million valuation after raising $75 million in a secondary.

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*** ******* ** **** known ** **** ******* for ******* ******** ************** *** ******* ** now ****** *** * much ******, **** ********* future.

** ***** **** *****'* executives ** ****** ********** what ***** ***** *** and **** ***** *** company *** ****.

** **** ******, **** examines:

  • ***** **********
  • ******* *****
  • *** ****** ************* (********** v. **********)
  • **** **********
  • **** *&* ********
  • $**+ ******* **** *** expansion *** *&*
  • ***********

Rekor **********

*****, ******** ***** ** Novume, ****************** ***** ****.

********* ********'* ***********, ****** began ** ********** *** business, ***** ********** *** both * ********** ******* and ************ ******** *******. Its ********** ******* ********* of ******** ******* ******, which ***** ******* *******, and, ***** ***** ****, OpenALPR. *** ************ ******** segment ********* ** * number ** ************ **** provided ******** *** ********** services ** *** ******* government *** *** *********/******** industries. **** ************** ***** to ***** *** *******'* resources ** *** ********** segment ********** ** ********* all ** *** ************ services ************. ** ******* this ***** ** ******** to ***** ** **** its ********** *******, ****** changed *** **** ** Rekor ******* ** **** March ****.

*** ******* ***** ***** the ******** ** ******/*****'* divestitures *** *******:

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** ** **** **, 2020, ***** *** **** off *** ** ***"***-**** ***** ************", ********* *** ** the ****** ** *** professional ******** *******. ***, Rekor's ********* ***** ** business *** *** **** Brekford ******* ****** *** OpenALPR. *******, *****'* ******* from ******** ******* ****** is *******, ***** **** IPVM.

AI / ******* *****

*****'********* ***************** ****** "** ********** intelligence '**' ******** *** services ******** **** ******** video ********* *** ****-**** decision ******* *********" ************ sitting ** *** "************ of ***, ***** ******, and *********** ********."

*****'* ******** ******* ** called***** ***, * ****** ******** that ********** ******* ************, supporting ************** ** ****** to *******-********** *********.****** ******, *****'* ***, ******* out ***** ***'* ******* advantage ** * ****** system *** ***** ** local *********** *** ***** subagencies ** *** ***.

******** ***** ** **** known *** ********, ****** stressed ** **** **** Rekor ** ** "** way, *****, ** **** an *** *******." ***** has "****** ** ***** cameras ** ********", ** while ** ** *******-******* as * ****** ** camera ********, ** **** offers ********* ********* **** could ******* ***********, *****, or ********.

******** ***** *** ******* ALPR ********* ** *** early ***** ******* ** is "***-******* *****," ***** executives ********** **** *** technology *** ******* **** "goes ****** ******* ***********". Some ** *** ***** uses ** *****'* ********** are ****** *****, ********* monitoring ******* ********* **** and ********* **** ************** (e.g. **** *** ********** alerts ***** ******** ********):

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Commercial / ********** *************

*****'* *** *** ******* are ********** *** ********** markets, ************* ** *** current**** (********* ******* *********** Divison) ******* ** ********************** **** ************ ******** ****-**** *****-******* efficiency.

***** ******* ********* **** programs **** ***** ******, such ** *****, *******, and *********, ** ******** upwards ** ******** ** millions ** ******* ** successful, ************ ** ***** to *** ********* ******** insured *** ******. ***** noted **** "******** **** UVED ** ********** ** other ****** ***** ** significant ******* *** ****** of ********* ******** ** very *****." ********* ** Rekor, *** ******* ******* ~1/4 ** *** ********* fee ($**) ** *** Oklahoma ******. ***** ********* there *** ***,*** ********* vehicles ** ********, ******* this ******* ***** ******** millions ** ******* ** revenue. *******, ** ** unclear *** **** ******** out ** ***,*** ***** systems **** ******** ******* and *** **** ***. There *** ****** ******, like ******* **** *.* million ********, **** ***** also ** *** ********* business *** *****.

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** *** ********** ******, Rekor **** ********* ** IPVM *** ****** *********** with ********** ** "******** drive-through ************" ** ***** vehicle *********** ** ***** personalized **** ******* ********* on *** ********'* ********** purchasing ******. **** ****** piloted ** ****** ***** Castles ** ******* ****.

****** **** ** ** "hard ** ***" ***** end ****** **** ** more *********** ** ***** in *** ****** ** Rekor's ****** ** ****** market ***** ************* ****** depending ** ****** ** the ************ ** *** infrastructure *****.

No ****** ***********

***** ********* ** **** that ** **** *** offer ****** *********** *** has ** ***** ** offer *** ************* **********.

2020 ********** ********

*****, ** *** **** recent***, ******** $*.* ******* in ******* *** **-** 2020, ***** *** ******* surpassed *** $*.* ***** revenue *** *** ** 2019. ** ** ** 2020 ***** ********* ** grow ** *** **** it *** ******* **-** 2019 ** *** **** period ** ****, **** would *** *** **** revenue ** ~$*.* *******, a *** ****** ** 60+%.

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*****'* ******* ******** $* million **** ****** ********* subscriptions *** ** *********** by ************* ******** (*.*. UVED, *******), ******** ******** for ************* ***, *** hardware *****.

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*******, ** ********, ****** said ***** **** ******** to ***** ** *** analytics *** ******** **** as ******** ** **** "a ***** ** ** end" *** *****. *** hardware ******* **** ***** does ***** *** **** made "*** ** *********" because ***** **** ********** currently ** *** ****** did *** **** ********** processing *****.

*****'* ****** ********* ***** for *** **** *-* years ********* * *****-**** revenue ** $*-** ******* per *******, ***** ***** would **** ** **** its ******* ******* * times ** ***. ***** hitting *** *****-**** *******, Rekor ******* ******* ** continue ** **** ** 30+% ***********. ******* ***** will ** **** ** accomplish **** ****** ******* to ** ****.

High *&* ***** ****** ****

***** *** **** *&* costs ** * ********** of ***** ********, ***** is ********. *&* ******** for **% ** *** expenses ** *** **** few ***** (*** *****'************ ****). **** ********* ********* spend * ****** ********** on ***** *** ******* and *&* ********, ******* G&A ******** *** ******** category. ***** *****'* *&* expenses *** ********* ** a ********** ** *** expenses, *&* ******* ********** remains ****.

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***** ********* ** **** saying **** *** ******* is ***** ** *** early ****** ** *********** and **** ** ********* the ******* ****** ** being * ****** *******:

***** ** ** *** early ***** ** ***********, so ** ****'* *** a ****** *** ** normalize **********. **** *** company **********, ******* **** grow, *** **&* ******** will ********. ******** ** other *********, **** ** them **** *** ** sell *** * ************ and ****** *** ******** of ****. ** **** have * *** ******* dollars ** ****** ******* expenses, **** ** ****** to ***** *&* ********* and ****** * **** department.

Rekor ****** $** ******* ***, $**+ ******* **** ** ****

***** *** ****** *** over $** ******* ** cash ** ****, ***** enables ** ** ****** aggressively ** *** **** it ******* ******* ** acquire. ** ***** ******** 2021, *********** $**.* *********** *** ****** ******** of ****** *****, ** which ***** ****** ~$** million ***** ********* ************ costs. ****** **** ********, Rekor ******* *** ~$**.* million ** ****, ** a ****** ** ******* ~$29 ******* ** ******* common ***** ** ********* 2020.

M&A *************

***** ** ******** ******* for *&* *************, **** a *** ******* ***** on *********** ************** *********. Companies ** ********** ******** would ** ***** **** a "******, ******** ******** base" *** "************* **********," Rekor **** ****. ******* its ************, ***** **** itself "******* ** ****** the *********** ******* ******."

***********

**** **** *** ***** on *** *** / vehicle ************ ****** ** our ******** **** ** limited.

**** *****, ** ***** two ********* *** *******:

***** ******,*** ****** $** ******* in ****, ** *** **** direct **********. *** ******* startup **** ******** ******* / ******* ***** ***********. However, ***** *** ******* on ***** ********* ***, in ********** ************ / community ********. ***********, *** two **** ****** ********* are ****** ** ************ compete ** **** **** expand ** ****** * wider ***** ** ******* recognition *************.

********,******** ** ******** *** $445 ******* ** ****, ** * ******** license ***** ********, ********* ~$100 ******* ******* ** 2019. ****** ***** *** Rekor, ******** *** ***** their ******** **** *** past ~** *****, ********* them * *********** **** start. ***, ** **** of * ********, ******** has *** *** ****-****** owner **** *** *********** existing ********** ********* **** Motorola **** ** **** Vigilant ****.

*******

*** ***** ***, ***** was * ***** ***** with * ************ ******. Now, *** ******* *** nearly $*** ******* ** cash *** ******** ** expand **** *** ******* video ********* ******. *** much ***** *** **** and ******* ** *** Rekor ** ********** ***** the $***+ ******* ** is ********* ****** ** remains ** ** ****, but **** **** *** resources ** **** * serious *** ** **** market.

Poll / ****

Comments (2)

***** *** ******* ****** one ** *** *** LPR ********* ** *** market ** ** *******.

Agree
Disagree
Informative
Unhelpful
Funny

***** ************** ** *********** *******.

*** ******,******, *** $***+ ******* revenue *** *** ******'* market *** ** ***** $300 *******, **** ** Rekor's, **** ****** ***** has **% **** ******* than ****** (** ** clear, *** ****** ********* is **** ******* ** Rekor's ******).

***** ******* * **%+ premium ** ******'* **** month's ***** *********** **** ***** "******* of ************* $*.** *** share ** ****" **** the ***** $* ****** from ***** *****.****** ************* * ***** *** paragraph ******.

* ***'* **** ****** but ** ********* ******* would ** *** **** so ******* ******* ** Rekor *****. ***** ***** stock ******* ** *** next * ****** *** Iteris ************ **** * killing *** ***** **** stock ***** ** **** and **** *** *******. It's * ****.

***, * ****** **** Iteris ***** *** ** Rekor ******* *** ****, that ***** **** *** Board ** ****** (*** not **** ***** *** put ******** **** **** cash).

Agree: 1
Disagree
Informative
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