Rekor Systems Projects $1.3M Q2 Adjusted EBITDA Loss Amid Going Concern
REKR is trading near its 52-week low of $0.602 (8.8% above the low).
Summary
Rekor Systems disclosed a preliminary Q2 adjusted EBITDA loss of about $1.3 million, adding to the financial strain already flagged in its May 10-Q. The company is under a Nasdaq delisting notice for sub-$1 bid price and has a going concern warning. This early look at Q2 results suggests continued cash burn, with the stock trading at $0.65. The rescheduled annual meeting in September may bring further clarity on capital-raising plans. The Q2 adjusted EBITDA loss narrowed due to cost discipline, and the company sees a swing to adjusted EBITDA profitability in the second half of the year.
At the time of this announcement, REKR was trading at $0.65 on NASDAQ in the Technology sector, with a market capitalization of approximately $85.8M. The 52-week trading range was $0.60 to $3.42. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.