Welcome to our dedicated page for Duos Technologies Group news (Ticker: DUOT), a resource for investors and traders seeking the latest updates and insights on Duos Technologies Group stock.
Duos Technologies Group, Inc. (DUOT) is a prominent provider of advanced, AI-driven digital video security systems catering to a diverse range of sectors including government, transportation, commercial, and healthcare industries. The company designs and manufactures a comprehensive array of security systems that encompass intelligent video surveillance and monitoring, automatic digital video recording, intrusion detection (both indoor and outdoor), and integrated intelligent command. Their product portfolio also extends to intelligent perimeter security, browser-based video and alarm monitoring, human-machine interfaces, electronic access control, biometric readers, and identification badge systems.
In addition to security systems, Duos Technologies Group, Inc. offers robust information technology solutions. These include network design topology, program and application development, wide and local area networking, infrastructure cabling, IP telephony and video, virtual private networks (VPNs) and security, remote network administration, data services, historical data collection and reporting, production assets analysis, and disaster recovery services.
Operating under the brand name duostech, Duos Technologies Group, Inc. focuses on intelligent technology solutions specifically tailored for the rail, logistics, and intermodal industries. These solutions are designed to streamline operations, enhance safety, and reduce costs. Their flagship product, the Railcar Inspection Portal (RIP), allows for automated railcar inspections at full train speeds, serving both freight and transit railroads and select government agencies. Another significant innovation by the company is the Automated Logistics Information System (ALIS), which automates gatehouse operations at large logistics and intermodal facilities.
The company boasts a well-diversified business model, with segments spanning Rail, Commercial, Government, Banking, and AI. One of the latest milestones includes securing a new support and AI agreement, projecting an annual recurring revenue of $360,000. Despite a short-term revenue decline attributed to transitioning to a subscription revenue model, Duos Technologies has demonstrated significant operational progress and an expanding pipeline of opportunities. Their recent achievements also include obtaining another patent for their RIP technology, solidifying their position as a leader in high-speed scanning of freight and passenger rolling stock.
Overall, Duos Technologies Group, Inc. continues to make key strides in advancing their strategic initiatives and intellectual property, setting a solid foundation for anticipated improvements in their financial results and operational performance.
Duos Technologies Group (Nasdaq:DUOT) reported Q2 2022 total revenue of $3.62 million, up 458% from $649,000 in Q2 2021. This growth was driven by new railcar inspection portals and AI deployments, contributing to a recurring revenue increase of over $500,000. The company's gross margin improved significantly to $1.28 million, up 575%, while net loss decreased to $1.34 million. Despite facing supply chain challenges, Duos anticipates continued revenue growth in 2022, with a backlog of $14-16 million. Operating expenses stabilized at $2.68 million, reflecting a focus on operational efficiency.
Duos Technologies Group (Nasdaq:DUOT) will host a conference call on August 15, 2022, at 4:30 PM ET to discuss its Q2 financial results for the period ending June 30, 2022. Financial results will be released prior to the call. Interested parties can join by calling U.S. dial-in 877-407-3088 or International dial-in 201-389-0927. The call will include a question-and-answer session. Duos specializes in vision-based technology solutions for various sectors, enhancing operational efficiency and safety.
Duos Technologies Group, Inc. (NASDAQ:DUOT) has joined the NVIDIA Metropolis partner program, enhancing its AI-powered video analytics capabilities. This integration aims to improve safety and efficiency in railcar inspections, leveraging NVIDIA's GPU-accelerated technologies to develop specific algorithms for inspection datasets. The partnership positions Duos to capitalize on future opportunities across various sectors. CEO Chuck Ferry emphasized that this alliance elevates their technological offerings, indicating a strategic move to expand operations both domestically and internationally.
Duos Technologies Group reported Q1 2022 financial results, revealing total revenue decreased by 33% to $1.44 million compared to Q1 2021. Major contracts awarded include a $9 million order for thermal and vision scanner solutions and a $2.7 million deal with a Class I rail operator. Operating expenses rose by 23%, contributing to a net loss of $2.64 million, up from a net loss of $406,000 year-over-year. The company has a backlog of contracts valued at approximately $17 million and forecasts 2022 revenue between $16.5 million and $18 million.
Duos Technologies Group, Inc. (NASDAQ:DUOT) announces a conference call on May 16, 2022 at 4:30 PM ET to discuss its financial results for Q1 2022, which ended on March 31, 2022. Prior to the call, financial results will be released via press release. Investors can join by calling 866-682-6100 for the U.S. and 862-298-0702 internationally. The company specializes in vision-based technology solutions that serve rail and logistics sectors, aiming to improve safety and reduce costs.
Duos Technologies Group (NASDAQ:DUOT) will present at the Planet MicroCap Showcase 2022 in Las Vegas from May 3-5, 2022. The presentation is scheduled for May 4, 2022, at 2:00 p.m. PT (5:00 p.m. ET). Participants can access the live webcast here. The company focuses on intelligent vision-based technology solutions aimed at enhancing operations, safety, and cost-efficiency for rail, logistics, and government sectors. Interested investors can register for in-person meetings at the event.
Duos Technologies Group, Inc. (NASDAQ:DUOT) reported its Q4 2021 results, revealing total revenue of $3.72 million, nearly unchanged from $3.78 million in Q4 2020. The company secured a $2.7 million contract to deploy an additional Railcar Inspection Portal and raised $5.3 million through a public offering. Despite a 9% increase in cost of revenues, operating expenses decreased by 33%, leading to a reduced net loss of $250,000. For 2022, Duos anticipates a revenue increase between $16.5 million and $18 million, reflecting a significant growth outlook.
Duos Technologies Group, Inc. (NASDAQ:DUOT) will hold a conference call on March 30, 2022, at 4:30 p.m. Eastern to discuss its financial results for the fourth quarter and full year ending December 31, 2021. The results will be released prior to the call. Participants can join by calling 877-407-3088 in the U.S. or 201-389-0927 internationally. Duos Technologies specializes in vision-based analytical solutions for rail and logistics, aiming to enhance safety and reduce costs.
Duos Technologies Group (NASDAQ:DUOT) has been invited to the Winter Wonderland Best Ideas Virtual Investor Conference from February 8-11, 2022. The company's presentation is scheduled for February 9 at 12:30 p.m. Eastern, with live webcasting available for replay. Duos specializes in vision-based analytical technology solutions, aiming to enhance safety and operational efficiency for rail, logistics, and government sectors. Interested investors can request further information or one-on-one meetings via their investor relations contact.
Duos Technologies Group (NASDAQ:DUOT) announced a public offering of 1,325,000 shares at a price of $4.00 per share, expecting gross proceeds of approximately $5.3 million. The offering includes a 30-day option for underwriters to purchase an additional 198,750 shares. Net proceeds will be utilized for acquisitions, general corporate purposes, and working capital. The offering is set to close around February 8, 2022, contingent on customary closing conditions. Northland Capital Markets is the sole book-running manager.
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