Financial Data and Key Metrics Changes - Revenue increased 60% in Q4 to $5.9 million compared to $3.7 million in Q4 2021, and for the full year, revenue rose 82% to just over $15 million from $8.2 million in 2021 [41][21][35] - Gross margin for Q4 increased 24% to $2.1 million compared to $1.73 million for Q4 2021, and for the year, gross margins increased 133% to $4.7 million compared to $2 million for 2021 [43] - Net operating loss for Q4 totaled approximately $950,000 compared to a loss of $240,000 for Q4 2021, while the net operating loss for the year was $6.87 million compared to $7.4 million for 2021 [45][46] Business Line Data and Key Metrics Changes - The company successfully deployed two new Railcar Inspection Portals (RIPs) in 2022, with plans for at least two additional RIPs in 2023, aiming for a total of 15 RIPs installed by the end of Q3 2023 [4][8] - The AI catalog has 35 models available for deployment, with expectations to grow to 50 use cases by the end of 2023 [4][55] - The company achieved a 100% renewal rate of recurring revenue contracts in 2022, leading to a 30% increase in support and AI revenues compared to 2021 [35][26] Market Data and Key Metrics Changes - The current backlog sits north of $10 million, with more than $8 million expected to be recognized in 2023, indicating strong visibility for future revenue [8][20] - The company has engaged with various stakeholders, including congressional leaders, to discuss the deployment of its technology in response to recent rail safety concerns [3][22] Company Strategy and Development Direction - The company is focused on increasing recurring revenue through a subscription model, support services, and maintenance, while also diversifying revenue sources [11][25] - A strategic communications plan has been initiated to respond to increased interest in the company's technology following recent rail incidents [22][50] - The company aims to achieve breakeven and profitability within the next 12 to 14 months, with a focus on enhancing its technology capabilities, particularly in AI [39][36] Management's Comments on Operating Environment and Future Outlook - Management noted that recent derailments have heightened focus on safety and compliance, leading to increased demand for the company's technology [50][3] - The company expects revenue in Q1 2023 to decline compared to Q4 2022 but anticipates growth throughout the remainder of the year [49] - Management expressed confidence in the company's ability to scale operations to meet potential increased demand due to regulatory changes [108][60] Other Important Information - The company has raised $4 million from its largest shareholder to support the buildout of its subscription RIP business [60][47] - The company is actively exploring new business lines, including applications in the trucking and intermodal industries [25][30] Q&A Session Summary Question: Can you mention what type of company your first subscription customer is? - The customer is one of the four major centers, but the name cannot be disclosed at this time [62] Question: What is the plan for building your own railcar inspection portals? - The plan is to build three to five of its own portals in key locations, focusing on high traffic areas [63] Question: How does the company view the competition in the rail safety technology space? - The main competitors include Wabtec and Class 1 railroads, but the company believes its technology is more advanced due to significant investments [76][98] Question: What are the expected contract lengths for the subscription model? - Most customers are looking at a minimum of three years, with some Class 1 customers interested in longer terms of 10 to 15 years [90] Question: Has the company seen increased safety regulations in other countries? - Yes, Canada has rigorous safety regulations similar to the U.S., and the company works closely with Canadian railroads [100]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————— FORM 10-K ——————— ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: _____________ to _____________ Commission file number: 000-55497 ——————— DUOS TECHNOLOGIES GROUP, INC. (Exact name of registrant as specified in its charter) ——————— Florid ...

Duos Technologies Group, Inc. (NASDAQ:DUOT) Q3 2022 Results Conference Call November 14, 2022 4:30 PM ET Company Participants Chuck Ferry - CEO Adrian Goldfarb - CFO Andrew Murphy - VP, FP&A Conference Call Participants Michael Latimore - Northland Capital Markets Operator Good afternoon. Welcome to Duos Technologies Third Quarter 2022 Earnings Conference Call. Joining us for today's call are Duos' CEO, Chuck Ferry, Adrian Goldfarb, CFO; and Andrew Murphy, VP, FP&A. Following their remarks, we will open up ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number 000-55497 Duos Technologies Group, Inc. (Exact name of registrant as specified in its charter) Florida 65 ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2022 increased 458% to $3.62 million compared to $649,000 in Q2 2021, driven by production and installation of new railcar inspection portals [11][12] - Gross margin for Q2 2022 increased 575% to $1.28 million compared to a negative $270,000 in Q2 2021, attributed to operational improvements [19][20] - Net operating loss for Q2 2022 totaled $1.39 million, an improvement from a net operating loss of $2.95 million in Q2 2021 [23] Business Line Data and Key Metrics Changes - Technology Systems revenue for Q2 2022 was approximately $2.78 million, while recurring services and consulting revenue was approximately $837,000, marking the highest quarterly recurring revenue in the company's history [11] - Total revenue for the first half of 2022 increased 80% to $5.06 million from $2.8 million in the same period last year, driven by new installations and increased services [13] Market Data and Key Metrics Changes - The company has a pipeline of potential new business worth over $120 million, indicating strong market demand [55] - The total addressable market for the North American Class 1 railroad network could accommodate as much as 150 railcar inspection portals [76] Company Strategy and Development Direction - The company’s 2022 operating strategies focus on improving technical and operational delivery, adding recurring revenue, and expanding into the trucking and aviation industries [33][34] - The company aims to enhance its AI capabilities and has deployed 20 AI use cases with a reliability rate of 95% or higher [48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting financial goals for the year, despite ongoing supply chain issues and inflation impacting costs [5][14] - The company expects total revenue for 2022 to range between $16.5 million and $18 million, representing a 99% to 117% increase from 2021 [30] Other Important Information - The company ended the quarter with approximately $6.27 million in cash and cash equivalents, indicating sufficient liquidity to support operations through 2022 and into 2023 [26] - The company is considering increasing working capital due to anticipated business growth and ongoing supply chain disruptions [26][27] Q&A Session Summary Question: Clarification on expected revenue growth in Q3 and Q4 - Management confirmed that they expect third and fourth quarter revenues to be up sequentially in absolute dollars [62][63] Question: Pipeline growth drivers - Management indicated that pipeline growth was driven by new opportunities with Class 1 railroads and car owners, with a focus on subscription models for data [66][67] Question: Recurring revenue from AI use cases - Management confirmed that as more AI use cases are added, recurring revenue will increase due to added value [79]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number 000-55497 Duos Technologies Group, Inc. (Exact name of registrant as specified in its charter) Florida 65-0493 ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2022 decreased 33% to $1.44 million compared to $2.15 million in Q1 2021, attributed to delays in contract notices and supply chain issues [9][19] - Gross margin for Q1 2022 decreased 56% to $222,000 compared to $503,000 in Q1 2021, driven by lower revenues and elevated operational costs [16] - Net operating loss for Q1 2022 totaled $2.64 million, compared to a net operating loss of $1.82 million in Q1 2021, primarily due to lower revenue and higher operating costs [18] Business Line Data and Key Metrics Changes - Revenue from technology systems for Q1 2022 was approximately $783,000, while recurring services and consulting revenue was approximately $656,000 [9] - The average revenue per installation continues to increase due to customer demand for enhanced functionality and capabilities [8] Market Data and Key Metrics Changes - The company has the largest set of contract commitments in its history, currently standing at approximately $17 million, with expectations to book much of this revenue in 2022 [11] - A pipeline of potential new business worth over $100 million has been established, with significant inquiries from both current and new customers [41][55] Company Strategy and Development Direction - The 2022 operating strategy focuses on improving technical and operational delivery, increasing recurring revenue, expanding into logistics and intermodal industries, and recruiting top talent [27][28] - The company aims to position itself as a leader in deploying cutting-edge technologies for precision railroading and logistics [50] Management's Comments on Operating Environment and Future Outlook - Management acknowledges ongoing supply chain disruptions and inflationary pressures impacting costs and timelines for procurement and installation [22][35] - The company expects to meet its revenue goal of $16.5 million to $18 million for 2022, with anticipated improvements in the second half of the year [50] Other Important Information - The company ended the quarter with approximately $5.33 million in cash, significantly up from $894,000 at the end of 2021, providing sufficient resources to support operations [20] - Management is focused on eliminating non-essential costs while investing in long-term growth opportunities [24] Q&A Session Summary Question: Are the sizable cash payments expected to be recognized as revenue? - Management indicated that these payments are milestone payments from contracts won previously, which will help manage cash flow, but revenue recognition will lag behind cash received [52][54] Question: What is the current pipeline number compared to the last update? - The pipeline has increased to over $100 million, with a mix of opportunities from current customers, new Class I customers, and inquiries related to logistics systems [55][56] Question: Is the services line expected to be a new baseline for growth? - Management confirmed that the services line has shown consistent growth and is expected to continue improving due to successful deployments and increased recurring revenue from AI applications [57]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number 000-55497 Duos Technologies Group, Inc. (Exact name of registrant as specified in its charter) Florida 65-049 ...

Duos Technologies Group, Inc. (NASDAQ:DUOT) Q4 2021 Earnings Conference Call March 30, 2022 4:30 PM ET Company Participants Charles Ferry - Chief Executive Officer Adrian Goldfarb - Chief Financial Officer Conference Call Participants Mike Latimore - Northland Capital Markets. Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. Th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ——————— FORM 10-K ——————— ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: _____________ to _____________ Commission file number: 000-55497 ——————— DUOS TECHNOLOGIES GROUP, INC. (Exact name of registrant as specified in its charter) ——————— Florid ...