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, Inc. (NASDAQ:DUOT) has announced a registered public offering of its common stock. The company will also grant the underwriter a 30-day option to purchase an additional 15% of the shares sold. The proceeds from this offering are intended for potential acquisitions, general corporate purposes, and working capital. The offering is subject to market conditions and is backed by Northland Capital Markets as the sole book-running manager. Full offering terms will be disclosed in a prospectus supplement filed with the SEC.
Duos Technologies Group (NASDAQ:DUOT) announced preliminary financial results for Q4 and full-year 2021, predicting total revenue of approximately $8.29 million, a 3.6% increase from previous estimates. The Q4 net loss is estimated to be between $250,000 and $295,000, showing over 31% improvement year-over-year. The company projects 2022 revenue between $16.5 million and $18 million, indicating more than a doubling of revenue from 2021. Despite ongoing supply chain challenges, Duos expects to achieve significant growth and progress towards profitability.
Duos Technologies Group (NASDAQ:DUOT) has secured a significant contract valued at over $2.7 million from a Class I rail operator to enhance inspection operations at the U.S.-Mexico border. The contract involves deploying a Railcar Inspection Portal powered by Duos' Expert Artificial Intelligence for automated inspections, integrated with U.S. government operations. The deal includes both project and recurring revenues, with maintenance and AI services expected to be renewed annually. Installation is projected for completion within 2022, marking a step towards improved efficiency in the railroad industry.
Duos Technologies Group (NASDAQ:DUOT) has secured a landmark contract with a major Canadian transit agency for its Automatic Pantograph Inspection System (apis®). Valued at over $500,000, the system will enhance mechanical inspections of railcars in transit and is expected to be operational within the year. This contract signifies a broader trend towards automation in the rail industry. Additionally, Duos anticipates further announcements regarding potential deployments as discussions with clients progress.
Duos Technologies Group (NASDAQ:DUOT) announced a new contract with CSX Corporation (NASDAQ:CSX) for an additional Railcar Inspection Portal, marking the third installation in their ongoing partnership. This contract includes annual service and maintenance, along with the implementation of Duos' truevue360 platform and Expert Artificial Intelligence technology. Installation is expected to be completed by Q2 2022, showcasing a trend in the railroad industry towards automated inspections.
Duos Technologies Group (NASDAQ:DUOT) has been invited to present at the inaugural Wells Fargo Tech in Transportation Forum on December 16, 2021, at 11:50 a.m. Eastern time. The event will be virtual and will include a one-on-one Q&A session moderated by Wells Fargo's Allison Poliniak-Cusic. The forum aims to address complex supply challenges and features presentations from leading innovators in the transportation sector. Duos provides intelligent vision-based technology solutions that enhance safety and streamline operations in rail and logistics.
Duos Technologies Group, Inc. (Nasdaq:DUOT) reported a 36% increase in third-quarter revenue to $1.74 million, driven by technology systems and recurring services. The company received a Notice to Proceed for significant upgrades to Railcar Inspection Portals and secured a new order for an Automated Pantograph Inspection System. Despite a 83% increase in cost of revenues, net loss improved to $2.45 million. Looking ahead, Duos expects total revenue of $8.0 million to $9.0 million for the fiscal year, anticipating a stronger 2022.
Duos Technologies Group, Inc. (NASDAQ:DUOT) will hold a conference call on November 15, 2021, at 4:30 p.m. ET to discuss its financial results for the third quarter ended September 30, 2021. A press release with financial results will precede the call. Interested parties can join the call via U.S. dial-in at 877-407-3088 or international dial-in at 201-389-0927. The call will be available for replay on the Company’s investor website.
Duos Technologies Group (NASDAQ:DUOT), a leader in vision-based technology solutions, will present at the 10th Annual Gateway Conference on September 9, 2021, at 11:30 a.m. PT (2:30 p.m. ET). The event is virtual, and the presentation will be available for live streaming and replay. One-on-one meetings will also be conducted during the conference. The Gateway Conference has successfully connected over 800 growth companies with thousands of investors in the past nine years. For more details or to arrange meetings, contact conference@gatewayir.com.
Duos Technologies Group reported a 67% revenue decline in Q2 2021, totaling $649,000 compared to $1.98 million last year, due to contract delays and the ongoing chip shortage. Operating expenses decreased by 13% to $1.41 million, but net loss widened to $2.95 million from $1.47 million. The company revised its revenue guidance for 2021 to between $8M and $9M, citing macroeconomic challenges. Despite short-term hurdles, management anticipates a return to growth, projecting significant improvement in 2022.
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