Core Points - Duos Technologies Group, Inc. will hold a conference call on May 15, 2025, at 4:30 p.m. Eastern time to discuss its financial results for Q1 2025 [1] - Financial results will be released via press release prior to the conference call [1] - The call will include a question-and-answer session hosted by Duos management [1] Conference Call Details - Date: May 15, 2025 [2] - Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time) [2] - U.S. dial-in number: 877-407-3088 [2] - International dial-in number: 201-389-0927 [2] - Confirmation number: 13753649 [2] Company Overview - Duos Technologies Group, Inc. is based in Jacksonville, Florida, and operates through subsidiaries focused on intelligent technology solutions for Machine Vision and AI applications [5] - The company specializes in real-time analysis of fast-moving vehicles, Edge Data Centers, and power consulting [5]

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 ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 decreased 4% to $1.46 million compared to $1.53 million in Q4 2023, while total revenue for the year decreased 3% to $7.28 million compared to $7.47 million in 2023 [15][22] - Gross margin for Q4 2024 decreased 209% to a negative $330,000 compared to a positive $303,000 for Q4 2023, and for the year, gross margin decreased 64% to $469,000 from $1.31 million in the same period of 2023 [19][22] - Net loss for the years ended December 31, 2024 and 2023 was $10.76 million and $11.24 million, respectively, indicating a decrease in overall net loss primarily attributable to a decrease in operating costs [22][23] Business Line Data and Key Metrics Changes - Services and Consulting revenues increased by 31% compared to 2023, driven by new AI and subscription customers, higher service contract pricing, and over $900,000 in new revenue from power consulting work [15][16] - Cost of revenues for the quarter increased 47% to $1.79 million compared to $1.22 million for Q4 2023, driven by amortization expenses and retention of outside consultants [16][17] - Cost of revenues on technology systems decreased during the period compared to the equivalent period in 2023, in line with the decline in project revenues [17][18] Market Data and Key Metrics Changes - The company has a backlog representing more than $50 million in revenue, with approximately 45% expected to be recognized in 2025 [26] - A pipeline of business between Duos and APR Energy-related business exceeds $500 million, which may translate into additional contracts and backlog for Duos [27] Company Strategy and Development Direction - The company is diversifying its business into rail technology, edge data centers, and power, aiming to accelerate the timeline to profitability [4][6] - The establishment of two new subsidiaries, Duos Edge AI and Duos Energy, is part of the strategy to capitalize on existing strengths and create a path for faster growth and profitability [11][49] - The company plans to install a total of 15 edge data centers by the end of 2025, targeting rural broadband enhancement and aligning with government funding [47][49] Management's Comments on Operating Environment and Future Outlook - Management noted that while the railcar inspection portal has had slow growth, it has allowed diversification into edge computing and power, which are expected to drive future growth [32][55] - The outlook for Duos is promising, with expectations to break even and generate positive adjusted EBITDA in the latter half of 2025 [29][55] Other Important Information - The company ended 2024 with approximately $6.27 million in cash and cash equivalents, and an additional $4 million in assets from edge data centers expected to generate cash flow soon [23][24] - The company has secured $2.2 million in debt funding for its initial edge data centers, with plans to retire $1 million of this debt in early 2025 [25][26] Q&A Session Summary Question: Changes in rail safety legislation - Management indicated that while there was significant effort under the Biden administration to push rail safety legislation, the likelihood of significant regulations being passed is currently low [59][61] Question: Impact of tariff uncertainties on customers - Management stated that the threat of tariffs has not yet impacted the business, although there could be potential risks related to raw material costs [62][64] Question: Operational status of data centers - Currently, one edge data center is fully operational, with two additional centers in installation, and plans to add 2 to 3 centers each quarter to reach the target of 15 by year-end [70][71] Question: Potential for winning hyperscaler deals - Management confirmed active discussions with several large hyperscalers, indicating interest in both power and edge data center solutions [75][76]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 decreased 4% to $1.46 million compared to $1.53 million in Q4 2023, while total revenue for the year decreased 3% to $7.28 million compared to $7.47 million in 2023 [15][22] - Gross margin for Q4 2024 decreased 209% to a negative $330,000 compared to a positive $303,000 for Q4 2023, and for the year, gross margin decreased 64% to $469,000 from $1.31 million in the same period of 2023 [19][22] - Net loss for the years ended December 31, 2024 and 2023 was $10.76 million and $11.24 million, respectively, indicating a decrease in overall net loss primarily attributable to a decrease in operating costs [22][23] Business Line Data and Key Metrics Changes - Services and Consulting revenues increased by 31% compared to 2023, driven by new AI and subscription customers, higher service contract pricing, and over $900,000 in new revenue from power consulting work [15] - Cost of revenues for the quarter increased 47% to $1.79 million compared to $1.22 million for Q4 2023, driven by amortization expenses and retention of outside consultants [16][17] - Cost of revenues on technology systems decreased during the period compared to the equivalent period in 2023, in line with the decline in project revenues [17] Market Data and Key Metrics Changes - The company has a backlog representing more than $50 million in revenue, with approximately 45% expected to be recognized in 2025 [26] - A pipeline of business between Duos and APR Energy-related business exceeds $500 million, which may translate into additional contracts and backlog for Duos [27] Company Strategy and Development Direction - The company is diversifying its business into rail technology, edge data centers, and power, aiming to accelerate the timeline to profitability [4][6] - The establishment of two new subsidiaries, Duos Edge AI and Duos Energy, is part of the strategy to capitalize on existing strengths and create a path for faster growth and profitability [11] - The company plans to raise between $10 million and $15 million through its S-3 shelf registration to support the growing edge data center business [29] Management's Comments on Operating Environment and Future Outlook - Management noted that the balance sheet, business backlog, and estimated pipeline are the strongest in the company's history as of December 31, 2024 [12] - The company expects to break even financially in 2025 and anticipates positive adjusted EBITDA by the end of the year [29] - Management expressed optimism about the future, highlighting significant changes in the business over the last 6 to 9 months and the potential for meaningful growth and profitability [55][56] Other Important Information - The company has retired $1 million of debt and expects to retire a further $1.2 million by the end of the year, maintaining reasonable leverage ratios [26] - The company is targeting rural broadband enhancement with its edge data centers, aligning with government funding opportunities [47] Q&A Session Summary Question: Changes in rail safety legislation - Management indicated that while there was significant effort under the Biden administration to push rail safety legislation, the likelihood of comprehensive regulations being passed is currently low [60][61] Question: Impact of tariff uncertainties on customers - Management stated that the threat of tariffs has not yet impacted the business, although there could be potential risks related to raw material costs [62][64] Question: Operational status of data centers - Currently, one data center is fully operational, with two additional centers in Tampa nearing completion, and plans to install 2 to 3 new centers each quarter [70][71] Question: Potential for winning hyperscaler deals - Management confirmed active discussions with several large hyperscalers, indicating interest in both power and edge data center solutions [75]

Duos Technologies Group, Inc. Shares have lost about 11.2% since the beginning of the year versus the S&P 500's decline of -5.1%. Duos Technologies Group, Inc. (DUOT) came out with a quarterly loss of $0.41 per share versus the Zacks Consensus Estimate of a loss of $0.30. This compares to loss of $0.44 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -36.67%. A quarter ago, it was expected that this company would post a loss o ...

Financial Performance - For the year ended December 31, 2024, total revenues decreased by 3% to $7,280,885 compared to $7,471,198 in 2023, primarily due to deployment delays of high-speed Railcar Inspection Portals [184]. - Technology systems revenue fell by 38% to $2,252,357, while services and consulting revenue increased by 31% to $5,028,528, driven by new AI and subscription customers [185]. - The cost of revenues increased by 11% to $6,811,670, with technology systems costs decreasing by 35% to $2,818,078, while services and consulting costs surged by 121% to $3,993,592 [189]. - The net loss for 2024 was $10,764,457, a slight improvement from the net loss of $11,241,718 in 2023 [184]. - Revenues for the year ended December 31, 2024, were $7,280,885, a decrease of 3% compared to $7,471,198 in 2023 [193]. - Gross margin decreased to approximately 6% in 2024 from 18% in 2023, primarily due to delays in manufacturing and consulting services provided at cost [193]. - Total operating expenses decreased by 10% in 2024 to $11,452,741, driven by a 43% increase in sales and marketing expenses and a 16% decline in research and development costs [194]. - The net loss for the year ended December 31, 2024, was $10,764,457, a reduction from the net loss of $11,241,718 in 2023 [198]. Cash Flow and Financing - Cash used in operating activities decreased to $3,488,687 in 2024 from $8,746,564 in 2023, reflecting improved cash flow management [200]. - The company had a cash balance of $6,266,296 and accounts receivable of $403,441 as of December 31, 2024 [199]. - Net cash provided by financing activities was $9,154,439 in 2024, primarily from the issuance of Series D and E Convertible Preferred Stock [202]. - The company anticipates continued positive cash flow from its Asset Management Agreement (AMA) with New APR Energy, which is expected to support operations [210]. - The company raised gross proceeds of approximately $3,544,689 through its At-The-Market (ATM) offering program in 2024 [208]. - The working capital deficit as of December 31, 2024, was $8,002,361, with an accumulated deficit of $74,368,009 [207]. Contracts and Agreements - The company secured a long-term agreement with a major Class 1 railroad, enabling new subscription-based services for over 3,000 railcar owners and lessors, expected to generate significant new revenue streams [178]. - Duos Energy Corporation, a new subsidiary, aims to meet the growing demand for power generation, with a two-year agreement valued at approximately $42 million [182]. - The company plans to shift to a modular and subscription-based approach for its Railcar Inspection Portal, enhancing recurring revenue streams through "RIP-as-a-Service" [182]. - The company anticipates revenue growth from new maintenance contracts and subscription offerings starting in 2025, targeting a broader market including Class 1 railroads and railcar owners [186]. - The Company will begin recognizing revenue from the AMA agreement starting January 2025 [216]. Assets and Investments - The Company recorded an initial carrying value of $7.2 million for common units received from Sawgrass Parent, representing non-cash consideration for future services under the Asset Management Agreement (AMA) [219]. - The Company recognized an intangible asset valued at $11,161,428 related to a 5-year customer contract for maintenance services, with immediate amortization of $199,008 for pre-contract costs [221][223]. - No impairment losses were recognized for the equity method investment during the year ended December 31, 2024, and there is no indication of impairment as of the same date [220][226]. - The Company will recognize deferred revenue of $11,161,428 over the 5-year term of the customer contract, with a portion recognized immediately for completed pilot program services [223]. - The Company assesses its equity method investment for impairment whenever events indicate that the carrying amount may not be recoverable [220]. Stock-Based Compensation - The Company accounts for stock-based compensation based on estimated fair values, with a graded vesting feature for employees and directors [227]. - The fair value of stock options is estimated using the Black-Scholes option-pricing formula, influenced by stock price and various subjective variables [228]. - The Company holds a 5% interest in Sawgrass Parent, which is deemed a Variable Interest Entity (VIE), but does not consolidate it as it lacks control over significant economic activities [218]. Revenue Sources - The Company generates revenue from four sources, including Technology Systems, AI Technologies, Technical Support, and Consulting Services [216].

Issues guidance following a transformative year with the Company adding two new business lines, significantly strengthening the Balance Sheet and demonstrating enhanced operational capabilities for additional services and consulting related to the fast power business. JACKSONVILLE, Fla., March 31, 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, Edge Data Centers and po ...

Company Overview - Duos Technologies Group, Inc. is based in Jacksonville, Florida, and operates through its wholly owned subsidiaries, focusing on intelligent technology solutions for Machine Vision and Artificial Intelligence applications [4] Upcoming Conference Call - The company will hold a conference call on March 31, 2025, at 4:30 p.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 2024 [1][2] - Financial results will be released via press release prior to the call, and the call will include a question-and-answer period [1] Conference Call Details - Participants are encouraged to call 5-10 minutes before the start time, with U.S. dial-in number being 877-407-3088 and international dial-in number being 201-389-0927 [2][3] - The conference call will be broadcast live and available for online replay via the investor section of the company's website [3]

Core Insights - The grand opening of an advanced Edge Data Center (EDC) by Region 16 Education Service Center in collaboration with Duos Edge AI is set for March 18, 2025, marking a significant advancement in connectivity and AI-driven education for the Texas Panhandle [1][3][4] - The partnership with FiberLight aims to enhance digital access for schools, create jobs, and strengthen regional infrastructure, contributing to long-term growth and innovation [1][4] Company Overview - Duos Edge AI, a subsidiary of Duos Technologies Group, focuses on deploying high-powered edge computing solutions to underserved communities, particularly in education and healthcare [6] - The company specializes in Edge Data Center solutions that minimize latency and optimize performance, with capabilities of providing over 100 kW per cabinet and rapid deployment within 90 days [6] - Duos Edge AI aims to position its data centers within 12 miles of end users, significantly closer than traditional data centers, facilitating real-time data processing [6] Industry Impact - The new EDC is expected to transform learning experiences for students and educators, while also laying the groundwork for economic growth and improved public services in the Texas Panhandle [4] - FiberLight's extensive fiber network, comprising over 19,000 route miles, will support the digital transformation of various sectors, including education, government, and enterprise [8]