Rekor Wins $22M+ 7-Year South Carolina DOT Contract, Replacing Aging Sensors Statewide
REKR sits 25% above its 52-week low of $0.546.
Summary
Rekor landed a 7-year statewide contract with the South Carolina DOT valued in excess of $22 million, with potential upside from cooperative purchasing by local agencies. The deal replaces aging in-road sensors with Rekor's AI-powered non-intrusive systems, shifting SCDOT to a Data-as-a-Service model. This is a material win for a company with a ~$91M market cap and ongoing going-concern warnings — the contract's annualized value could meaningfully improve recurring revenue and cash flow visibility. The award follows preliminary Q2 results showing a narrowed EBITDA loss, suggesting operational momentum. Final contract negotiations are pending, but the selection is a significant competitive validation.
At the time of this announcement, REKR was trading at $0.68 on NASDAQ in the Technology sector, with a market capitalization of approximately $91.2M. The 52-week trading range was $0.55 to $3.42. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.