Duos Technologies Group Inc Financials

DUOT

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 4/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Duos Technologies Group Inc has an operating margin of -150.8%, meaning the company retains $-151 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -153.2% the prior year.

Growth

Duos Technologies Group Inc's revenue declined 2.5% year-over-year, from $7.5M to $7.3M. This contraction results in a growth score of 21/100.

Leverage

Duos Technologies Group Inc has elevated debt relative to equity (D/E of 14.46), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Duos Technologies Group Inc's current ratio of 0.50 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

While Duos Technologies Group Inc generated -$3.5M in operating cash flow, capex of $1.8M consumed most of it, leaving -$5.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

2/9

Duos Technologies Group Inc passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

0.32x

For every $1 of reported earnings, Duos Technologies Group Inc generates $0.32 in operating cash flow (-$3.5M OCF vs -$10.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-38.4x

Duos Technologies Group Inc earns $-38.4 in operating income for every $1 of interest expense (-$11.0M vs $286K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Duos Technologies Group Inc (DUOT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$7.3M

YoY-2.5%

5Y CAGR-11.8%

10Y CAGR+5.6%

Duos Technologies Group Inc generated $7.3M in revenue in fiscal year 2024. This represents a decrease of 2.5% from the prior year.

EBITDA

-$8.8M

YoY+20.7%

Duos Technologies Group Inc's EBITDA was -$8.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 20.7% from the prior year.

Free Cash Flow

-$5.3M

YoY+42.4%

Duos Technologies Group Inc generated -$5.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 42.4% from the prior year.

Net Income

-$10.8M

YoY+4.2%

Duos Technologies Group Inc reported -$10.8M in net income in fiscal year 2024. This represents an increase of 4.2% from the prior year.

EPS (Diluted)

$-1.39

YoY+10.9%

Duos Technologies Group Inc earned $-1.39 per diluted share (EPS) in fiscal year 2024. This represents an increase of 10.9% from the prior year.

Cash & Debt

$6.3M

YoY+156.6%

5Y CAGR+156.7%

10Y CAGR+53.7%

Duos Technologies Group Inc held $6.3M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

YoY+22.1%

5Y CAGR+35.1%

Duos Technologies Group Inc had 9M shares outstanding in fiscal year 2024. This represents an increase of 22.1% from the prior year.

Gross Margin

6.4%

YoY-11.1pp

5Y CAGR-41.1pp

10Y CAGR-42.8pp

Duos Technologies Group Inc's gross margin was 6.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 11.1 percentage points from the prior year.

Operating Margin

-150.8%

YoY+2.4pp

5Y CAGR-133.2pp

10Y CAGR-113.1pp

Duos Technologies Group Inc's operating margin was -150.8% in fiscal year 2024, reflecting core business profitability. This is up 2.4 percentage points from the prior year.

Net Margin

-147.8%

YoY+2.6pp

5Y CAGR-129.7pp

10Y CAGR-97.7pp

Duos Technologies Group Inc's net profit margin was -147.8% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$1.5M

YoY-15.5%

5Y CAGR+0.7%

10Y CAGR+23.1%

Duos Technologies Group Inc invested $1.5M in research and development in fiscal year 2024. This represents a decrease of 15.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1.8M

YoY+268.8%

5Y CAGR+54.7%

Duos Technologies Group Inc invested $1.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 268.8% from the prior year.

DUOT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$7.3M-2.5%	$7.5M-50.2%	$15.0M+81.7%	$8.3M+2.7%	$8.0M-41.1%	$13.6M
Cost of Revenue	$6.8M+10.5%	$6.2M-40.0%	$10.3M+65.0%	$6.2M-20.3%	$7.8M+9.0%	$7.2M
Gross Profit	$469K-64.2%	$1.3M-72.4%	$4.7M+132.8%	$2.0M+764.8%	$236K-96.4%	$6.5M
R&D Expenses	$1.5M-15.5%	$1.8M+9.8%	$1.7M-34.4%	$2.5M+2361.0%	$102K-93.1%	$1.5M
SG&A Expenses	$7.8M-17.6%	$9.4M+9.6%	$8.6M+50.1%	$5.7M	N/A	$2.2M
Operating Income	-$11.0M+4.0%	-$11.4M-66.7%	-$6.9M+7.9%	-$7.5M-12.4%	-$6.6M-175.7%	-$2.4M
Interest Expense	$286K+3896.6%	$7K-22.1%	$9K-54.7%	$20K-86.5%	$150K+116.6%	$69K
Income Tax	N/A	N/A	N/A	$0	$0	N/A
Net Income	-$10.8M+4.2%	-$11.2M-63.8%	-$6.9M-14.2%	-$6.0M+10.9%	-$6.7M-173.1%	-$2.5M
EPS (Diluted)	$-1.39+10.9%	$-1.56-40.5%	$-1.11+31.9%	$-1.63	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$6.9M+19.9%	$5.7M+15.8%	$5.0M+239.0%	$1.5M-3.3%	$1.5M+41.1%	$1.1M-29.8%	$1.5M-0.3%	$1.5M
Cost of Revenue	$4.4M+3.4%	$4.2M+15.9%	$3.6M+103.2%	$1.8M+3.8%	$1.7M+76.7%	$976K-20.1%	$1.2M-6.3%	$1.3M
Gross Profit	$2.5M+65.7%	$1.5M+15.6%	$1.3M+498.1%	-$330K-53.8%	-$215K-326.7%	$95K-68.8%	$304K+34.1%	$227K
R&D Expenses	$115K-62.6%	$307K-27.6%	$424K+17.0%	$363K-7.0%	$390K+2.1%	$382K-9.1%	$420K-6.6%	$450K
SG&A Expenses	$3.3M-22.9%	$4.2M+77.6%	$2.4M+19.7%	$2.0M+4.9%	$1.9M-1.1%	$1.9M-24.2%	$2.5M+5.8%	$2.4M
Operating Income	-$1.1M+67.6%	-$3.4M-92.3%	-$1.8M+42.0%	-$3.1M+4.1%	-$3.2M-16.5%	-$2.8M+13.2%	-$3.2M-7.1%	-$3.0M
Interest Expense	$29K-66.4%	$87K-72.9%	$323K+91.9%	$168K+14519.4%	$1K+158.4%	$445-66.9%	$1K-4.5%	$1K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.0M+70.4%	-$3.5M-69.2%	-$2.1M+38.9%	-$3.4M-6.3%	-$3.2M-16.4%	-$2.8M+12.9%	-$3.2M-7.2%	-$2.9M
EPS (Diluted)	$-0.06+80.0%	$-0.30-66.7%	$-0.18+55.0%	$-0.40+7.0%	$-0.43-13.2%	$-0.38+11.6%	$-0.43-4.9%	$-0.41

DUOT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$35.0M+172.2%	$12.8M-1.9%	$13.1M+38.0%	$9.5M+48.1%	$6.4M+15.8%	$5.5M
Current Assets	$8.1M+29.3%	$6.3M-8.5%	$6.8M+107.8%	$3.3M-43.3%	$5.8M+21.9%	$4.8M
Cash & Equivalents	$6.3M+156.6%	$2.4M+117.8%	$1.1M+25.4%	$894K-77.5%	$4.0M+6956.3%	$56K
Inventory	$605K-60.3%	$1.5M+6.8%	$1.4M+378.8%	$298K+165.4%	$112K	N/A
Accounts Receivable	$109K-92.5%	$1.5M-57.2%	$3.4M+96.6%	$1.7M+39.7%	$1.2M-52.3%	$2.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$32.7M+337.4%	$7.5M-17.3%	$9.0M+3.9%	$8.7M+92.5%	$4.5M-20.1%	$5.7M
Current Liabilities	$16.1M+395.5%	$3.2M-27.8%	$4.5M+14.1%	$3.9M+8.4%	$3.6M-32.3%	$5.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.3M-57.9%	$5.4M+32.5%	$4.1M+418.3%	$781K-58.5%	$1.9M+1580.2%	-$127K
Retained Earnings	-$74.4M-16.9%	-$63.6M-21.5%	-$52.4M-15.1%	-$45.5M-15.2%	-$39.5M-20.6%	-$32.7M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$69.8M+124.2%	$31.1M-8.7%	$34.1M-2.5%	$35.0M+64.8%	$21.2M+66.5%	$12.7M-0.8%	$12.8M-4.0%	$13.4M
Current Assets	$37.2M+679.8%	$4.8M-36.0%	$7.5M-7.7%	$8.1M+135.9%	$3.4M-46.3%	$6.4M+2.1%	$6.3M-7.4%	$6.8M
Cash & Equivalents	$33.2M+2151.9%	$1.5M-61.2%	$3.8M-39.4%	$6.3M+1138.1%	$506K-83.0%	$3.0M+21.9%	$2.4M-25.3%	$3.3M
Inventory	$504K-1.1%	$510K-2.0%	$520K-14.1%	$605K-42.9%	$1.1M-29.4%	$1.5M-1.6%	$1.5M0.0%	$1.5M
Accounts Receivable	$136K-40.2%	$228K+5.9%	$215K+97.3%	$109K-15.4%	$129K-78.4%	$596K-59.2%	$1.5M+464.9%	$259K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$20.3M-23.1%	$26.4M-8.8%	$28.9M-11.5%	$32.7M+78.1%	$18.4M+154.2%	$7.2M-3.4%	$7.5M-3.0%	$7.7M
Current Liabilities	$9.7M-26.0%	$13.1M-6.4%	$14.0M-13.2%	$16.1M+177.0%	$5.8M+88.5%	$3.1M-5.1%	$3.2M-4.4%	$3.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$49.5M+946.0%	$4.7M-8.1%	$5.2M+127.8%	$2.3M-20.8%	$2.9M-48.3%	$5.5M+2.9%	$5.4M-5.4%	$5.7M
Retained Earnings	-$81.0M-1.3%	-$80.0M-4.6%	-$76.4M-2.8%	-$74.4M-6.9%	-$69.6M-4.8%	-$66.4M-4.3%	-$63.6M-5.2%	-$60.4M

DUOT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$3.5M+60.1%	-$8.7M-11.1%	-$7.9M-19.7%	-$6.6M-55.5%	-$4.2M-5.3%	-$4.0M
Capital Expenditures	$1.8M+268.8%	$497K+44.0%	$345K-36.8%	$546K+95.4%	$279K+35.2%	$206K
Free Cash Flow	-$5.3M+42.4%	-$9.2M-12.5%	-$8.2M-15.3%	-$7.1M-58.0%	-$4.5M-6.7%	-$4.2M
Investing Cash Flow	-$1.8M-68.3%	-$1.1M-69.6%	-$645K-16.6%	-$553K-92.4%	-$287K-30.9%	-$220K
Financing Cash Flow	$9.2M-18.0%	$11.2M+27.6%	$8.7M+115.6%	$4.1M-51.9%	$8.4M+173.2%	$3.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$8K

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$3.2M+1.4%	-$3.2M+31.5%	-$4.7M-272.4%	$2.7M+242.1%	-$1.9M+6.1%	-$2.0M+34.6%	-$3.1M+16.3%	-$3.7M
Capital Expenditures	$6.4M+715.2%	$791K+38.2%	$572K+101.3%	$284K-67.5%	$876K+9817.2%	$9K-97.0%	$297K+635.0%	$40K
Free Cash Flow	-$9.6M-140.5%	-$4.0M+23.9%	-$5.2M-316.1%	$2.4M+187.2%	-$2.8M-36.4%	-$2.0M+40.1%	-$3.4M+9.3%	-$3.8M
Investing Cash Flow	-$6.5M-704.2%	-$806K-38.6%	-$582K-103.5%	-$286K+67.5%	-$879K-8865.1%	-$10K+95.0%	-$195K+44.2%	-$350K
Financing Cash Flow	$41.4M+2356.8%	$1.7M-39.6%	$2.8M-12.7%	$3.2M+910.1%	$316K-87.7%	$2.6M+4.0%	$2.5M-49.2%	$4.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

DUOT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	6.4%-11.1pp	17.5%-14.1pp	31.6%+6.9pp	24.7%+21.8pp	2.9%-44.6pp	47.5%
Operating Margin	-150.8%+2.4pp	-153.2%-107.5pp	-45.7%+44.6pp	-90.3%-7.8pp	-82.5%-64.9pp	-17.6%
Net Margin	-147.8%+2.6pp	-150.5%-104.7pp	-45.7%+27.0pp	-72.8%+11.2pp	-83.9%-65.8pp	-18.1%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-30.8%+56.7pp	-87.5%-35.1pp	-52.4%+10.9pp	-63.4%+42.0pp	-105.3%-60.7pp	-44.7%
Current Ratio	0.50-1.4	1.93+0.4	1.52+0.7	0.83-0.8	1.60+0.7	0.89
Debt-to-Equity	14.46+13.1	1.39-0.8	2.23-8.9	11.14+8.7	2.40+46.9	-44.47
FCF Margin	-73.1%+50.7pp	-123.7%-69.0pp	-54.7%+31.5pp	-86.3%-30.1pp	-56.1%-25.1pp	-31.0%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	36.6%+10.1pp	26.5%-0.1pp	26.5%+49.1pp	-22.6%-8.4pp	-14.2%-23.0pp	8.8%-11.1pp	19.9%+5.1pp	14.8%
Operating Margin	-16.2%+43.8pp	-60.0%-23.8pp	-36.1%+175.1pp	-211.2%+1.7pp	-212.9%+44.9pp	-257.9%-49.5pp	-208.4%-14.4pp	-194.1%
Net Margin	-15.1%+46.2pp	-61.3%-19.3pp	-42.0%+191.2pp	-233.2%-21.0pp	-212.1%+44.9pp	-257.1%-49.9pp	-207.1%-14.6pp	-192.6%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-1.5%+9.8pp	-11.3%-5.2pp	-6.1%+3.6pp	-9.7%+5.4pp	-15.1%+6.5pp	-21.6%+3.0pp	-24.6%-2.6pp	-22.0%
Current Ratio	3.85+3.5	0.37-0.2	0.53+0.0	0.50-0.1	0.59-1.5	2.07+0.1	1.93-0.1	1.99
Debt-to-Equity	0.41-5.2	5.58-0.0	5.62-8.8	14.46+8.0	6.43+5.1	1.31-0.1	1.39+0.0	1.36
FCF Margin	-139.7%-70.1pp	-69.6%+36.3pp	-105.9%-272.1pp	166.2%+350.5pp	-184.3%+6.4pp	-190.7%+32.6pp	-223.3%+22.0pp	-245.2%

Note: The current ratio is below 1.0 (0.50), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Duos Technologies Group Inc's annual revenue?

Duos Technologies Group Inc (DUOT) reported $7.3M in total revenue for fiscal year 2024. This represents a -2.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Duos Technologies Group Inc's revenue growing?

Duos Technologies Group Inc (DUOT) revenue declined by 2.5% year-over-year, from $7.5M to $7.3M in fiscal year 2024.

Is Duos Technologies Group Inc profitable?

No, Duos Technologies Group Inc (DUOT) reported a net income of -$10.8M in fiscal year 2024, with a net profit margin of -147.8%.

What is Duos Technologies Group Inc's earnings per share (EPS)?

Duos Technologies Group Inc (DUOT) reported diluted earnings per share of $-1.39 for fiscal year 2024. This represents a 10.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Duos Technologies Group Inc's EBITDA?

Duos Technologies Group Inc (DUOT) had EBITDA of -$8.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Duos Technologies Group Inc's gross margin?

Duos Technologies Group Inc (DUOT) had a gross margin of 6.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Duos Technologies Group Inc's operating margin?

Duos Technologies Group Inc (DUOT) had an operating margin of -150.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Duos Technologies Group Inc's net profit margin?

Duos Technologies Group Inc (DUOT) had a net profit margin of -147.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Duos Technologies Group Inc's free cash flow?

Duos Technologies Group Inc (DUOT) generated -$5.3M in free cash flow during fiscal year 2024. This represents a 42.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Duos Technologies Group Inc's operating cash flow?

Duos Technologies Group Inc (DUOT) generated -$3.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Duos Technologies Group Inc's total assets?

Duos Technologies Group Inc (DUOT) had $35.0M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Duos Technologies Group Inc's capital expenditures?

Duos Technologies Group Inc (DUOT) invested $1.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Duos Technologies Group Inc spend on research and development?

Duos Technologies Group Inc (DUOT) invested $1.5M in research and development during fiscal year 2024.

How many shares does Duos Technologies Group Inc have outstanding?

Duos Technologies Group Inc (DUOT) had 9M shares outstanding as of fiscal year 2024.

What is Duos Technologies Group Inc's current ratio?

Duos Technologies Group Inc (DUOT) had a current ratio of 0.50 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Duos Technologies Group Inc's debt-to-equity ratio?

Duos Technologies Group Inc (DUOT) had a debt-to-equity ratio of 14.46 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Duos Technologies Group Inc's return on assets (ROA)?

Duos Technologies Group Inc (DUOT) had a return on assets of -30.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Duos Technologies Group Inc's cash runway?

Based on fiscal year 2024 data, Duos Technologies Group Inc (DUOT) had $6.3M in cash against an annual operating cash burn of $3.5M. This gives an estimated cash runway of approximately 22 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Duos Technologies Group Inc's Piotroski F-Score?

Duos Technologies Group Inc (DUOT) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Duos Technologies Group Inc's earnings high quality?

Duos Technologies Group Inc (DUOT) has an earnings quality ratio of 0.32x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Duos Technologies Group Inc cover its interest payments?

Duos Technologies Group Inc (DUOT) has an interest coverage ratio of -38.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Duos Technologies Group Inc?

Duos Technologies Group Inc (DUOT) scores 4 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.