JACKSONVILLE, Fla., May 21, 2025 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. ("Duos" or the "Company") (Nasdaq: DUOT), through its operating subsidiary Duos Edge AI, Inc. ("Duos Edge AI"), a provider of adaptive, versatile and streamlined Edge Data Center ("EDC") solutions tailored to meet evolving needs in any environment, today announced a strategic partnership with Region 3 Education Service Center (ESC) to deploy a new EDC in Victoria, Texas. This marks the latest execution in Duos Edge AI's natio ...

JACKSONVILLE, Fla., May 20, 2025 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. ("Duos" or the "Company") (Nasdaq: DUOT), today announced the appointment of Brigadier General (Ret.) James Craig Nixon as the new Chairman of its Board of Directors, effective immediately. Brigadier General Nixon succeeds Kenneth Ehrman, who has served as Chairman since 2020. Mr. Ehrman stepped down from the Board to focus on the continued growth of Halo Collar, a leading provider of smart pet safety solutions. Duos sincerel ...

Duos Technologies Group, Inc. (DUOT) came out with a quarterly loss of $0.18 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.38 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post a loss of $0.30 per share when it actually produced a loss of $0.41, delivering a surprise of -36.67%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Duos Technologies Group, In ...

Duos Technologies Group (DUOT) Q1 2025 Earnings Call May 15, 2025 04:30 PM ET Company Participants Charles Ferry - CEO & DirectorAdrian Goldfarb - CFODan Weston - General Manager Conference Call Participants Mike Latimore - Managing Director & Senior Research AnalystEdward Woo - Director of Research & Senior Analyst Operator Good afternoon. Welcome to Duos Technologies First Quarter twenty twenty five Earnings Conference Call. Joining us today's call are Duos' CEO, Chuck Ferry and CFO, Adrian Goldfarb. Foll ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2025 increased 363% to $4,950,000 compared to $1,070,000 in Q1 2024 [11] - Gross margin for Q1 2025 increased 1288% to $1,310,000 compared to $90,000 for Q1 2024 [13] - Net loss for Q1 2025 totaled $2,080,000 compared to a net loss of $2,750,000 for Q1 2024, representing a 24% decrease in net loss [15] Business Line Data and Key Metrics Changes - The power line of business contracted 570 megawatts with APR Energy's gas turbine fleet, an increase of 180 megawatts since the last report [3] - The edge data center business, DuosEdge AI, has customer commitments for an additional eight edge data centers, expecting to complete installations in the next six months [4][8] - Revenues from the asset management agreement (AMA) with APR Energy are expected to positively impact gross margins [11] Market Data and Key Metrics Changes - Current contracts and backlog represent more than $45,000,000 in revenue, with approximately $17,400,000 projected to be recognized in Q2 2025 [18] - The company expects to enter 2026 with more than $3,000,000 in annual recurring revenue from multi-year contracts [9] Company Strategy and Development Direction - The company is focused on executing its strategy to grow into a larger entity through three distinct divisions: Duos Technologies, DuosEdge AI, and DuosEnergy [6] - The edge AI division is actively marketing remote data centers to serve local communities and businesses, with plans to deploy 15 edge data centers by the end of the year [7][8] - The company is evaluating opportunities to acquire additional assets to grow the overall value of APR Energy [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the power business and the edge data center market, noting that both lines of business are currently performing well [34][36] - The company anticipates breakeven or potential profitability in the third and fourth quarters, with a focus on minimizing losses in the first half of the year [19] Other Important Information - The company has improved its balance sheet, with shareholders' equity now over $5,100,000 and cash of $6,480,000 [16] - The company has retired $1,000,000 of debt during the quarter and expects to retire an additional $1,200,000 by year-end [17] Q&A Session Summary Question: What is the expected gross margin for the power business throughout the year? - Management indicated that a gross margin of around 32% is a good range to expect for the year, with opportunities to improve [26][27] Question: Any updates on hyperscaler opportunities in the data center business? - Management confirmed active discussions with three or four hyperscalers interested in utilizing edge data centers and behind-the-meter power solutions [28][29] Question: Has there been any change in the sales cycle due to tariffs? - Management reported no significant impact from tariffs on the power or edge data center businesses, stating that both lines are performing well [33][34] Question: How does the company plan to allocate resources for new projects? - Management noted that they are maintaining a high utilization rate of their assets and are evaluating opportunities for additional acquisitions to support growth [45][46]

Financial Performance - Total revenues for Q1 2025 reached $4,952,185, a 363% increase compared to $1,070,680 in Q1 2024[275] - The net loss for Q1 2025 was $2,079,663, compared to a net loss of $2,752,309 in Q1 2024, indicating an improvement in financial performance[275] - Revenues for the three months ended March 31, 2025, were $4,952,185, a 363% increase compared to $1,070,680 in the same period of 2024[282] - The net loss for the three months ended March 31, 2025, was $2,079,663, a 24% decrease from $2,752,309 in the same period of 2024[286] - Gross margin improved to $1,313,659 in Q1 2025, representing a 1,288% increase from $94,632 in Q1 2024, primarily due to revenue from the Asset Management Agreement with New APR[282] Revenue Sources - Services and consulting revenue surged by 510% to $4,887,501 in Q1 2025, primarily due to the execution of the Asset Management Agreement (AMA) with New APR[276][277] - The Railcar Inspection Portal (RIP) is being transitioned to a modular and subscription-based model, enhancing recurring revenue streams[273] - The company anticipates continued growth in services revenue from both rail and power businesses throughout 2025[278] Operational Activities - The cost of revenues increased by 273% to $3,638,526 in Q1 2025, driven by the support of the AMA and increased operational activities[279] - Total operating expenses increased by 9% to $3,103,287 in Q1 2025, up from $2,855,678 in Q1 2024, with sales and marketing expenses decreasing by 47%[283] Capital and Financing - Cash flows provided by financing activities were $2,788,033 in Q1 2025, primarily from gross proceeds of $3,954,940 from the At-The-Market offering program[290] - The company has raised over $11,500,000 from the sale of Series E and F Preferred Stock in 2023 and approximately $3,954,940 in gross proceeds during the first two months of 2025[295] - The company expects to continue executing its revenue diversification strategy and anticipates sufficient capital to support operations over the next twelve months[291][296] Future Plans and Expansion - The company is expanding into Edge Computing and power generation markets, with a focus on leveraging existing technology infrastructure[268] - A long-term agreement with a major Class 1 railroad was secured, enabling new subscription-based services for over 3,000 railcar owners and lessors[269] - The company plans to deploy six Edge Data Centers in the first half of 2025, with an additional nine sites expected in the second half of 2025[273] - Duos Energy is managing approximately 850 MW of generating capacity and has a two-year AMA valued at approximately $42 million with New APR[273] Deferred Revenue and Intangible Assets - The Company recorded $7.2 million of deferred revenue for services to be performed under the AMA agreement, with no revenue recognized during the year ended December 31, 2024[305] - The Company recognized $199,008 of deferred revenue related to a completed pilot program, with the remaining deferred revenue being recognized over the 5-year term[312] - An intangible asset with a fair value of $11,161,428 was recorded in May 2024, representing non-monetary consideration under a 5-year customer contract for maintenance services[310] - The fair value of the intangible asset was determined based on the standalone selling price of the service and goods to be provided under the contract[311] - There is no indication of impairment for the intangible asset at March 31, 2025[315] Cash Flow and Working Capital - Net cash used in operating activities was $4,673,425 for Q1 2025, compared to $2,032,719 in Q1 2024, driven by increased non-cash add-backs and a significant build-up in accounts receivable[288] - The company had a working capital deficit of $6,502,554 as of March 31, 2025, with an accumulated deficit of $76,447,672[287][294] Management and Impairment - Management believes that the anticipated steady cash flow from the Asset Management Agreement will mitigate concerns regarding the company's ability to continue as a going concern[297] - The Company assesses its equity method investment for impairment whenever events indicate that the carrying amount may not be recoverable[309] - No impairment losses were recognized during the year ended December 31, 2024, or the three months ended March 31, 2025[309]

Company records approximately $5 million in revenue, a 363% revenue increase with a strong start in its services and consulting business for fast power.JACKSONVILLE, Fla., May 15, 2025 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), a provider of machine vision and artificial intelligence that analyzes fast moving vehicles, reported financial results for the first quarter (“Q1 2025”) ended March 31, 2025. First Quarter 2025 and Recent Operational Highlights Reco ...

Beginning construction on additional units in partnership with Accu-Tech to complete balance of 15 US-Made EDCs with scalable architecture JACKSONVILLE, Fla., May 15, 2025 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. ("Duos" or the "Company") (Nasdaq: DUOT), through its operating subsidiary Duos Edge AI, Inc. ("Duos Edge AI"), a provider of adaptive, versatile and streamlined Edge Data Center ("EDC") solutions tailored to meet evolving needs in any environment, today announced that the Company is on pa ...

Company Overview - Duos Technologies Group, Inc. (DUOT) is anticipated to report a year-over-year increase in earnings due to higher revenues for the quarter ended March 2025 [1] - The consensus EPS estimate for Duos Technologies is a loss of $0.18 per share, reflecting a year-over-year change of +52.6% [3] - Expected revenues for the quarter are $4.3 million, which represents a significant increase of 301.9% from the same quarter last year [3] Earnings Estimates and Revisions - The consensus EPS estimate has been revised 22.22% lower over the last 30 days, indicating a reassessment by analysts regarding the company's earnings prospects [4] - The Most Accurate Estimate for Duos Technologies is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -5.56% [11] - The company currently holds a Zacks Rank of 3, suggesting a hold position, which complicates predictions of an earnings beat [11] Earnings Surprise History - In the last reported quarter, Duos Technologies was expected to post a loss of $0.30 per share but actually reported a loss of $0.41, resulting in a surprise of -36.67% [12] - Over the past four quarters, the company has beaten consensus EPS estimates two times [13] Industry Context - Another company in the Zacks Technology Services industry, Marathon Digital Holdings, Inc. (MARA), is expected to report a loss of $0.55 per share for the same quarter, indicating a year-over-year change of -816.7% [17] - Marathon Digital's revenues are expected to be $219.65 million, up 33% from the previous year [17] - The consensus EPS estimate for Marathon Digital has been revised 24.1% higher over the last 30 days, but it has an Earnings ESP of 0.00%, making predictions of an earnings beat difficult [18]

Six mobile gas turbines to deploy over 150MW in less than 90 days—reinforcing APR Energy's leadership in rapid, utility-scale power solutions JACKSONVILLE, Fla., April 29, 2025 (GLOBE NEWSWIRE) -- New APR Energy LLC ("APR Energy"), a global leader in fast-track power generation, has secured a contract to deliver 150 megawatts (MW) of power generation to support Mexico's national utility ahead of the summer peak in Baja California. The project will mobilize six high-output mobile gas turbines, with full oper ...