Rekor Systems, a leader in roadway intelligence technology, has announced an expansion of its traffic analytics solutions in New Mexico. Despite challenging market conditions, the company has shown strong revenue growth of 44% in the past year and continues to expand its market presence. The New Mexico Department of Transportation has increased its use of Rekor’s AI-driven systems for traffic data capture.
Rekor’s technology, which uses AI and high-resolution video streams, provides accurate data on vehicle volume, speed, and classification essential for infrastructure planning. The company’s efficient and safe systems have been praised for their operational efficiency and scalability. With successful deployments in multiple states and strategic partnerships with AWS and NVIDIA, Rekor is well-positioned for future growth.
Recent developments for Rekor Systems include a 16% year-over-year increase in Q3 revenues and significant growth in the Urban Mobility segment. The company aims for a 40% compound annual growth rate over the next five years, driven by deployments of AI Edge units across U.S. roadways. Despite challenges, Rekor Systems remains optimistic about achieving positive cash flow by 2025 through cost optimization efforts.
Source
Photo credit www.investing.com
