Rekor Eliminates Approximately $10 Million in Liabilities and Generates More Than $2 Million in Annual Savings

COLUMBIA, Md., Sept. 03, 2026 (GLOBE NEWSWIRE) -- Rekor Systems, Inc. (NASDAQ: REKR) ("Rekor" or the "Company"), which builds trusted data, privacy, and security solutions for real-world video and sensor networks, today announced it has terminated its two remaining long-term real estate leases, one in the United States and one in Israel.

The terminations eliminate Rekor's ongoing rent obligations under the two agreements and are expected to deliver more than $2 million in annualized savings. The Company will use approximately $2.8 million in cash to reduce $10 million in outstanding lease obligations, and the related deposit, fixed assets, and right-of-use assets will be removed from the Company’s balance sheet in connection with the transaction.

This action advances Rekor's focus on improving operating leverage, lowering fixed costs, and directing resources toward growth priorities.

“Terminating these leases is another important step in executing our plan to optimize the business and structurally reduce our cost base,” said Joseph Nalepa, Chief Financial Officer at Rekor. “This action builds on the cost-reduction measures we have implemented across the organization and further aligns our operating footprint with the needs of the business. While the termination requires a one-time cash payment, it eliminates significant ongoing lease obligations and delivers approximately $2 million in annualized overhead savings, reinforcing a leaner operating model and supporting our path toward sustainable profitability.”

About Rekor Systems, Inc.

Rekor Systems, Inc. (NASDAQ: REKR) builds trusted data, privacy, and security solutions for real-world video and sensor networks. Rekor's AI-powered roadway intelligence platforms are deployed across the United States, delivering real-time data and actionable insights to transportation agencies, law enforcement, and commercial operators. For more information, visit Rekor.ai.

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