Duos Technologies Group Inc Stock Price, News & Analysis

Duos Technologies Group (Nasdaq: DUOT) has announced the launch of its first Edge Data Center (EDC) at the Region 16 Education Service Center in Amarillo, Texas. This initiative, led by Duos Edge AI, aims to enhance student learning and drive economic growth in the Texas Panhandle by providing high-speed connectivity and advanced technological solutions.

The EDC will support 60 public school districts in the rural Texas Panhandle, offering reliable internet access and scalable IT resources. Set to be operational by mid-September, this project is expected to improve educational outcomes, support local businesses, and foster digital equity in the region.

Doug Recker, President of Duos Edge AI, emphasized the company's commitment to closing the digital divide in underserved areas. Chuck Ferry, CEO of Duos, highlighted the strategic expansion into the education sector, while Michael Keough, Region 16 CTO, stressed the importance of this initiative for the region's future competitiveness.

Duos Technologies Group, Inc. (Nasdaq: DUOT) is set to present at the 2024 Annual Gateway Conference in San Francisco on September 4, 2024. The presentation is scheduled for 11:30 a.m. Pacific Time (2:30 p.m. Eastern Time) and will be webcast live with replay available. Duos executives will also be available for one-on-one meetings throughout the conference.

Interested parties can request invitations or schedule meetings by emailing conference@gateway-grp.com. To stay informed about Duos' developments and revolutionary technology platforms, individuals can follow the company's website or sign up for email alerts. For more information, contact DUOT@duostech.com or visit the company's website and social media channels on LinkedIn and Twitter.

Duos Technologies Group (Nasdaq: DUOT) reported Q2 2024 results, showing a 15% decrease in total revenue to $1.51 million compared to Q2 2023. However, recurring services and consulting revenue increased by 38%. The company closed a 5-year support services and data sharing agreement with a Class 1 railroad valued at $10.9 million. Duos performed over 2.3 million comprehensive railcar scans across 13 portals in Q2. The company formed two new subsidiaries: Duos Edge AI for the Edge Data Center market and Duos Energy for power support in data centers. As of Q2 end, Duos has $19.6 million in revenue backlog, with $6.9 million expected to be recognized in 2024. Despite current financial challenges, the company is focusing on long-term growth initiatives and expanding its subscription data offering.

Duos Technologies Group (Nasdaq: DUOT) has announced its second quarter 2024 earnings call, scheduled for Tuesday, August 13, 2024, at 4:30 PM Eastern Time. The company will release its financial results for the quarter ended June 30, 2024, via press release before the call. Management will host the conference call, which will be followed by a question-and-answer session.

Investors can access the call using the following details:
- U.S. dial-in: 877-407-3088
- International dial-in: 201-389-0927
- Confirmation code: 13747856

Participants are advised to call 5-10 minutes before the start time. The call will also be broadcast live and available for online replay through the investor section of the company's website.

Duos Technologies Group's subsidiary, Duos Edge AI, has secured $2.2 million in funding from two institutional investors for the production of its first three Edge Data Centers (EDCs). The funding will support the construction, deployment, and initial operations of EDCs in remote districts, including schools, government, and health facilities. The first EDC is expected to be operational by late October, with the second and third units following in November.

The secured promissory notes mature at the end of 2025 with a 10% annual interest rate. Duos Edge AI will reserve funds from EDC revenues for repayment, and Duos will hold receipts from its ATM facility to ensure timely repayment. The company is reviewing potential ongoing debt funding proposals as the subsidiary expands.

Duos Technologies Group, through its subsidiary Duos Edge AI, has announced plans for deploying its first three Edge Data Centers (EDCs) in underserved communities. The newly appointed President, Doug Recker, has identified the locations, with the first unit expected to be operational by late Q3 2024. These EDCs aim to provide high-speed computing for AI and other applications to remote areas, including schools and health facilities.

The company anticipates recording recurring revenues starting in Q4, with the first EDC in full revenue production by late October, followed by the second and third units in November. Duos Edge AI will focus on delivering scalable, cost-efficient IT resources that integrate with existing infrastructure, leveraging Duos' expertise in AI processing to drive innovation across various sectors.

Duos Technologies Group (Nasdaq: DUOT) was featured on WJXT Channel 4's 'This Week in Jacksonville - Business Edition'. CEO Chuck Ferry and Doug Recker, President of Duos Edge AI, discussed their entry into the data center market and a new strategic partnership in rail systems. The company is launching a subscription-based railcar inspection system with a Class 1 railroad and expanding into Edge Data Centers for remote locations. Doug Recker, starting July 15, 2024, will lead Duos Edge AI, leveraging over 30 years in telecommunications to drive innovation in data processing for applications including automated vehicle guidance.

Duos Technologies Group (Nasdaq: DUOT) CEO Chuck Ferry and President of Duos Edge AI, Doug Recker, discussed the company's recent market expansions and strategic initiatives on 'This Week in Jacksonville - Business Edition' on June 27, 2024. Key highlights include Duos' entry into the data center market and a strategic partnership with a Class 1 railroad to implement a subscription-based railcar inspection system. Doug Recker, with over 30 years of experience in telecommunications and data centers, will lead the new subsidiary, Duos Edge AI, effective July 15, 2024. Recker’s focus will be on providing Edge Data Centers to remote areas and leveraging AI for innovation in data processing. The interview is available on the WJXT Channel 4 website.

Duos Technologies (Nasdaq: DUOT) held a press conference on June 18, 2024, to announce several strategic business developments. Key announcements included a new partnership with a Class 1 railroad for a subscription-based railcar inspection system, currently being tested by Amtrak. The system will use specialized Edge data centers for AI and data processing, set to be operational early next year. CEO Chuck Ferry emphasized Duos' expertise in deploying large-scale projects and the Company's expansion into AI, data center deployment, and power infrastructure. A new subsidiary, Duos Edge AI, will be led by Doug Recker, effective July 15, 2024, focusing on providing Edge Data Centers to underserved areas like schools and healthcare facilities.