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 ...

Duos Technologies Group, Inc. (NASDAQ:DUOT) Q3 2021 Earnings Conference Call November 15, 2021 4:30 PM ET Company Participants Charles Ferry - Chief Executive Officer Adrian Goldfarb - Chief Financial Officer Conference Call Participants Gary DiStefano - ThinkEquity LLC Richard Jackson - TrueNorth Financial Solutions Operator Good afternoon. Welcome to Duos Technologies' Third Quarter 2021 Earnings Conference Call. Joining us for today's call are Duos' CEO, Chuck Ferry and CFO, Adrian Goldfarb. Following th ...

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, 2021 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 ...

Duos Technologies Group, Inc. (NASDAQ:DUOT) Q2 2021 Earnings Conference Call August 12, 2021 4:30 PM ET Company Participants Charles Ferry - Chief Executive Officer Adrian Goldfarb - Chief Financial Officer Conference Call Participants Priyanka Mahajan - ThinkEquity Operator Good afternoon. Welcome to Duos Technologies' Second Quarter 2021 Earnings Conference Call. Joining us for today's call are Duos' CEO, Chuck Ferry and CFO, Adrian Goldfarb. Following their remarks, we will open the call for your questio ...

Financial Performance - Total revenues for the three months ended June 30, 2021, were $648,668, a decrease of 67% compared to $1,982,142 for the same period in 2020[158] - Revenues for the six months ended June 30, 2021, were $2,803,422, a 6% decrease compared to $2,973,087 for the same period in 2020[172] - The net loss for the quarter was $2,952,880, compared to a net loss of $1,465,889 in the same quarter of the previous year[158] - The net loss for the six months ended June 30, 2021, was $3,358,903, a decrease of nearly 7% compared to $3,612,938 for the same period in 2020[183] - The loss from operations for the six months ended June 30, 2021, was $4,770,768, a 36% increase from a loss of $3,514,971 in the same period of 2020[179] - Net loss for the three months ended June 30, 2021, was $2,952,880, a 101% increase from $1,465,889 in the same period of 2020[170] Revenue Breakdown - Revenue from technology systems dropped by 94% to $100,401 from $1,597,633 year-over-year, while services and consulting revenue increased by 43% to $548,267 from $384,509[158] - Technology systems revenues decreased by 25% to $1,590,699 for the six months ended June 30, 2021, compared to $2,111,307 in the same period of 2020[172] - Services and consulting revenues increased by 41% to $1,212,723 for the six months ended June 30, 2021, compared to $861,780 in the same period of 2020[172] Cost and Expenses - The cost of revenues increased by 22% to $2,185,920 from $1,794,679, driven by higher costs in services and consulting, which rose by 77%[162] - Cost of revenues increased by 43% to $4,916,382 for the six months ended June 30, 2021, compared to $3,441,112 in the same period of 2020[175] - Operating expenses decreased by 13% to $2,657,808 for the six months ended June 30, 2021, compared to $3,046,946 in the same period of 2020[178] Cash Flow and Financing - Net cash used in operating activities for the six months ended June 30, 2021, was $3,218,903, compared to $3,152,753 in 2020, indicating increased expenditures related to current and future projects[185] - Net cash provided by financing activities for the six months ended June 30, 2021, was $4,264,675, down from $8,650,492 in the same period of 2020, primarily due to a capital raise from the issuance of Series C Convertible Preferred Stock[187] - The company raised $4,500,000 from the issuance of Series C Convertible Preferred Stock, alleviating previous concerns about going concern status[194] - Interest expense for the six months ended June 30, 2021, was $11,761, a significant decrease from $127,175 in the same period of 2020[180] Operational Initiatives - The company anticipates a surge in orders in the second half of the year, despite delays in receiving notices to proceed for new contracts[158] - The company is expanding its focus in the rail industry to include passenger transportation and is in the final stages of bidding for a large, multi-year contract[154] - Engineering and software upgrades to the Railcar Inspection Portal (RIP) are expected to drive revenue growth throughout 2021[153] - The company is implementing a "rapid development" initiative to respond more quickly to market-driven demand, which is expected to result in significant revenue growth[159] - The company continues to invest in streamlining project build and delivery processes, which is anticipated to improve operational efficiency[159] - Management is focused on improving organizational efficiency and re-establishing a backlog of projects to support growth and profitability[195] Financial Position - As of June 30, 2021, the company had working capital of $2,715,833 and an accumulated deficit of $42,847,053[193] - The company had cash on hand of approximately $3,070,000 as of August 11, 2021, with monthly lease and mandatory payments of about $135,000[188] - The company has sufficient capital to fund operations for at least the next 12 months, despite uncertainties related to the pandemic[189] - The company has no off-balance sheet contractual arrangements[196] Gross Margin - Gross margin for the six months ended June 30, 2021, was $(2,112,960), a deterioration from $(468,025) in the same period of 2020, reflecting minimal technology systems revenues[177]

Duos Technologies Group, Inc. (NASDAQ:DUOT) Q1 2021 Earnings Conference Call May 13, 2021 4:30 PM ET Company Participants Chuck Ferry - CEO Adrian Goldfarb - CFO Conference Call Participants Richard Jackson - True North Financial Operator Good afternoon. Welcome to Duos Technologies' First Quarter 2021 Earnings Conference Call. Joining us for today's call are Duos' CEO, Chuck Ferry and CFO, Adrian Goldfarb. Following their remarks, we will open the call for your questions. Then before we conclude today's ca ...