Duos Technologies Reports 112% Increase in Quarterly Revenue

Rhea-AI Summary

Duos Technologies (Nasdaq: DUOT) reported Q3 2025 revenue of $6.9M, a 112% increase year-over-year, and nine-month revenue of $17.6M (highest nine-month total in company history, +202% vs. 2024). The company cited growth from its Duos Energy Asset Management Agreement (AMA) with New APR, hosting start-ups for edge data centers, and a 5% non-voting equity revenue contribution.

Key metrics: gross margin improvement, cash and equivalents of $33.2M, >$50M raised and all debt retired, backlog of $25.8M (≈$12.4M expected in 2025), reiterated full-year revenue guidance of $28–30M, patent awarded, FiberLight partnership, and deployment plan for multiple Edge Data Centers.

Positive

• Q3 revenue +112% to $6.9M
• Nine-month revenue +202% to $17.6M
• Cash and equivalents of $33.2M at Sep 30, 2025
• Raised >$50M and retired all debt
• Backlog $25.8M with $12.4M expected in 2025
• Recognized $2.712M YTD from 5% equity in New APR

Negative

• Net loss nine months $6.64M
• Operating expenses increased 34% year-to-date
• Technology systems revenue limited by deployment delays
• General and administration up 71% due to stock compensation

With the transition to edge computing and growth in its energy services business, third quarter 2025 results show positive adjusted EBITDA and the Company on plan to achieve guidance of $28 to $30 million for the full year

JACKSONVILLE, Fla., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), a provider of adaptive, versatile and streamlined Edge Data Center (“EDC”) solutions and operational services for the deployment of "behind the meter” electrical power, reported financial results for the third quarter (“Q3 2025”) ended September 30, 2025. In addition to the equivalent quarter revenue growth, consecutive quarterly revenue growth was more than 20% for a total of $17.6 million for the first nine months, the highest revenue for that period in the Company’s history.

Third Quarter 2025 and Recent Operational Highlights

• Recorded $6.88 million in revenue, including $6.59 million for services of which $5.15 million is related to the Asset Management Agreement (“AMA”) with New APR Energy.
• Recorded $17.6 million for the first nine months, representing the highest revenue in the Company’s history.
• Improved Gross Margins compared to the same quarter one year ago.
• Raised more than $50 million to capitalize its growth in the data center market and retired all debt.
• Signed partnership with FiberLight to expand its coverage with telecom and carrier footprint, further accelerate deployment of Edge Data Centers and expand high-speed connectivity across underserved U.S. markets.
• Announced the deployment of its sixth Edge Data Center with an additional nine data centers scheduled for Q4 to include the first out-of-state deployment in Illinois.
• Awarded U.S. Patent No. 12,404,690 B1 for its Entryway for a Modular Data Center, an innovation that positions Duos as a differentiated provider in the growing digital infrastructure market.
• Appointed Doug Recker as President and Corporate Officer for Duos Technologies Group.
• Appointed entrepreneur and successful business executive Brian James to the Board of Directors reinforcing Duos’ strategic alignment and execution capability as the Company enters its next phase of growth.
• Joined the Nomad Futurist Foundation as an Inspiration Sponsor, strengthening its role in advancing awareness, education, and talent development within the digital-infrastructure ecosystem.

Third Quarter 2025 Financial Results

It should be noted that the following Financial Results represent the consolidation of the Company with its subsidiaries Duos Technologies, Duos Edge AI, Inc., and Duos Energy Corporation (“Duos Energy”).

Total revenues for Q3 2025 increased 112% to $6.9 million compared to $3.2 million in the third quarter of 2024 (“Q3 2024”). Total revenue for Q3 2025 represents an aggregate of approximately $263,000 of technology systems revenue and approximately $6,600,000 in recurring services and consulting and hosting revenue. The significant revenue increase in the third quarter, compared to the same quarter last year, was primarily driven by Duos Energy executing against the Asset Management Agreement ("AMA") with New APR that was signed on December 31, 2024. Under the AMA, Duos Energy oversees the deployment and operations of a fleet of mobile gas turbines and related balance-of-plant inventory, providing management, sales, and operational support services to New APR. Other revenue sources included the start of hosting revenues for its edge data centers and limited progress of two Railcar Inspection Portals (“RIP^®”) currently being developed for Amtrak.

Cost of revenues for Q3 2025 increased 88% to $4.36 million compared to $2.32 million for Q3 2024. The significant increase in cost of revenues was primarily due to supporting the AMA with New APR, where Duos Energy oversees the deployment and operations of a fleet of mobile gas turbines and related balance-of-plant inventory, providing management, sales, and operational support services to New APR. The cost of revenues on technology systems decreased compared to the equivalent period in 2024. This reduction is primarily driven by our ability in Q3 2025 to reallocate certain fixed operating and servicing costs for technology systems to support the AMA, an allocation we could not make in the comparative period because the agreement was not yet in effect. It also reflects the limited manufacturing progress ahead of field installation of our two high-speed RIP^®s while we await customer readiness for site deployment.

Gross margin for Q3 2025 increased 174% to $2.5 million compared to $0.9 million for Q3 2024. Gross margin improved primarily due to Duos Energy’s performance of the AMA with New APR. This also includes $904,125 in revenue recognized during the three months ended September 30, 2025, related to the Company's 5% non-voting equity interest in the ultimate parent of New APR, which carries no associated costs and therefore contributes at a 100% margin. These revenues and the associated margin contribution were not present in the prior year period.

Operating expenses for Q3 2025 increased 28% to $3.6 million compared to $2.8 million for Q3 2024. The increase in expenses is largely attributed to non-cash stock-based compensation charged for restricted stock granted to the executive team on January 1, 2025, under new employment agreements with a three-year cliff vesting schedule. Overall, sales and marketing costs declined as resources were allocated to costs of service and consulting revenues in support of the AMA with New APR. Additionally, research and development expenses fell by 71% owing to scaled-back testing of prospective technologies. The Company continues to focus on stabilizing operating expenses, including evaluating reductions in some areas, while continuing to meet the increased requirements of our new businesses.

Net operating loss for Q3 2025 totaled $1.1 million compared to net operating loss of $1.9 million for Q3 2024. The decrease in loss from operations was primarily the result of increased revenues during the quarter, driven by revenue generated by Duos Energy through the AMA with New APR, offset slightly by non-cash stock-based compensation charged for restricted stock that was not in the comparative period.

Net loss for Q3 2025 totaled $1.04 million compared to net loss of $1.4 million for Q3 2024. The 26% decrease in net loss was mostly attributed to the non-cash stock-based compensation charged for restricted stock and one-time compensation expenses that were not in the comparative period, offset by an increase in revenues generated by Duos Energy through the AMA with New APR as described above. Net loss per common share was $0.06 and $0.18 for the three months ended September 30, 2025 and 2024, respectively. 

Cash and cash equivalents at September 30, 2025 totaled $33.20 million compared to $6.27 million at December 31, 2024. In addition, the Company had over $3.00 million in receivables and contract assets for a total of approximately $36.20 million in cash and expected short-term liquidity.

Nine Month 2025 Financial Results

Total revenue increased 202% to $17.6 million from $5.8 million in the same period last year. Total revenue for the first nine months of 2025 represents an aggregate of approximately $370,000 of technology systems revenue and approximately $17.2 million in recurring services and consulting revenue. The significant revenue increase in the period, compared to the same period last year, was primarily driven by Duos Energy executing against the AMA with New APR originally signed on December 31, 2024. The decrease in technology systems’ revenues was primarily attributed to delays outside of the Company’s control with deployment of our two high-speed Railcar Inspection Portals. Although these systems remain largely ready for deployment, customer delays at the deployment site continue to prevent the Company from entering the installation phase although this is now expected to be mitigated in the last quarter of 2025. In spite of the timing delays that continue to impact the quarterly results, management remains confident in the long-term potential of the RIP^® product.

Cost of revenues increased 143% to $12.2 million from $5.0 million in the same period last year. The significant increase in cost of revenues was primarily due to supporting the AMA with New APR, where Duos Energy oversees the deployment and operations of a fleet of mobile gas turbines and related balance-of-plant inventory, providing management, sales, and operational support services to New APR. The cost of revenues on technology systems decreased compared to the equivalent period in 2024. This reduction is primarily driven by our ability in the period to reallocate certain fixed operating and servicing costs for technology systems to support the AMA, an allocation we could not make in the comparative period because the agreement was not yet in effect. It also reflects the ramp-down of manufacturing ahead of field installation of our two high-speed RIP^®s, which have continued to temporarily slow project activity and further reduce cost of revenues while we await customer readiness for site deployment.

Gross margin increased 569% to $5.4 million from $800,00 in the same period last year. Gross margin improved primarily due to Duos Energy’s performance of the AMA with New APR. This includes $2,712,375 in revenue recognized during the period, related to the Company's 5% non-voting equity interest in the ultimate parent of New APR, which carried no associated costs and therefore contributed at a 100% margin. These revenues and the associated margin contribution were not present in the prior year period.

Operating expenses increased 34% to $11.7 million from $8.7 million in the same period last year. The Company experienced a significant increase in overall operating expenses compared to the same period in 2024. Sales and marketing costs declined as resources were allocated to costs of service and consulting revenues in support of the AMA with New APR. Additionally, research and development expenses fell by 28% owing to scaled-back testing of prospective technologies. General and administration costs increased 71%, largely due to non-cash stock-based compensation charged for restricted stock granted to the executive team on January 1, 2025, under new employment agreements with a three-year cliff vesting schedule as well as one time compensation costs related to the closing of the AMA and 5% ownership agreements as previously described. Additionally, there were general and administration costs that were allocated to cost of service and consulting revenues in support of the AMA with New APR. Overall, the Company continues to focus on stabilizing operating expenses while meeting the increased needs of our customers. 

Net operating loss totaled $6.35 million compared to net operating loss of $7.90 million in the same period last year. The decrease in loss from operations was primarily the result of increased revenues during the period, driven by revenue generated by Duos Energy through the AMA with New APR.

Net loss totaled $6.64 million compared to a net loss of $7.36 million in the same period last year. The 10% decrease in net loss was mostly attributed to the increase in revenues generated by Duos Energy through the AMA with New APR as described above. Net loss per common share was $0.49 and $0.98 for the nine months ended September 30, 2025, and 2024, respectively. 

Financial Outlook
At the end of the third quarter, the Company’s contracts in backlog represented approximately $25.8 million in revenue, of which approximately $12.4 million is expected to be recognized in the remainder of calendar 2025 including an estimated $9.5 million of contracted backlog and $3 million in expected near-term awards, renewals and anticipated additional business. The remaining contract backlog consists of multi-year service and software agreements, along with project revenues extending beyond 2025, related to Duos Technologies, Duos Edge AI, and Duos Energy.

Based on these committed contracts and near-term pending orders that are already performing or scheduled to be executed throughout the course of 2025, the Company is reiterating its previously stated revenue expectations for the fiscal year ending December 31, 2025. The Company expects total revenue for 2025 to range between $28 million and $30 million, representing an increase of 285% to 312% from 2024. Duos expects this improvement in operating results to be reflected over the course of the full year in 2025.

Management Commentary

“I am very pleased with the continuous improvement in Duos’ results this year,” said Chuck Ferry, Duos CEO. “Having embarked on the strategic shift to becoming a data center provider for the rapidly growing market for edge computing, we are well positioned to capture market share for products and services related to this important industry. I also welcome our new senior management and latest addition to our Board to assist in realizing the potential in 2026 and beyond.”

Conference Call
The Company’s management will host a live conference call today, November 12, 2025, at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss these results, followed by a question-and-answer period.

Date: Wednesday, November 12, 2025
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
U.S. Dial-in: +1 904-300-2288
Conference ID: 370 925 85 #
Event Registration: Join the Live Video Conference

For assistance with registration or to submit questions for management, please email DUOT@duostech.com.

A replay of the conference will be available following the event in the investor section of the Company’s website.

About Duos Technologies Group, Inc.

Duos Technologies Group, Inc. (Nasdaq: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc., and Duos Energy Corporation, designs, develops, deploys and operates intelligent technology solutions for Machine Vision and Artificial Intelligence (“AI”) applications including real-time analysis of fast-moving vehicles, Edge Data Centers and power consulting. For more information, visit www.duostech.com, www.duosedge.ai and www.duosenergycorp.com.

Forward-Looking Statements

This news release includes forward-looking statements regarding the Company's financial results and estimates and business prospects that involve substantial risks and uncertainties that could cause actual results to differ materially. Forward-looking statements relate to future events and typically address the Company's expected future business and financial performance. The forward-looking statements in this news release relate to, among other things, information regarding anticipated timing for the installation, development and delivery dates of our systems; anticipated entry into additional contracts; anticipated effects of macro-economic factors (including effects relating to supply chain disruptions and inflation); timing with respect to revenue recognition; trends in the rate at which our costs increase relative to increases in our revenue; anticipated reductions in costs due to changes in the Company's organizational structure; potential increases in revenue, including increases in recurring revenue; potential changes in gross margin (including the timing thereof); statements regarding our backlog and potential revenues deriving therefrom; and statements about future profitability and potential growth of the Company. Words such as "believe," "expect," "anticipate," "should," "plan," "aim," "will," "may," "should," "could," "intend," "estimate," "project," "forecast," "target," "potential" and other words and terms of similar meaning, typically identify such forward-looking statements. Forward-looking statements involve risks and uncertainties and there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, the Company's ability to generate sufficient cash to expand operations, the competitive environment generally and in the Company's specific market areas, changes in technology, the availability of and the terms of financing, changes in costs and availability of goods and services, economic conditions in general and in the Company's specific market areas, changes in federal, state and/or local government laws and regulations potentially affecting the use of the Company's technology, changes in operating strategy or development plans and the ability to attract and retain qualified personnel. The Company cautions that the foregoing list of risks, uncertainties and factors is not exclusive. Additional information concerning these and other risk factors is contained in the Company's most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other filings filed by the Company with the U.S. Securities and Exchange Commission (the "SEC"), which are available at the SEC's website, http://www.sec.gov. The Company believes its plans, intentions and expectations reflected in or suggested by these forward-looking statements are based on reasonable assumptions. No assurance, however, can be given that the Company will achieve or realize these plans, intentions or expectations. Indeed, it is likely that some of the Company's assumptions may prove to be incorrect. The Company's actual results and financial position may vary from those projected or implied in the forward-looking statements and the variances may be material. Each forward-looking statement speaks only as of the date of the particular statement. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All subsequent written and oral forward-looking statements concerning the Company or other matters attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
			For the Three Months Ended				For the Three Months Ended				For the Nine Months Ended				For the Nine Months Ended
			September 30,				September 30,				September 30,				September 30,
			2025				2024				2025				2024
REVENUES:
	Technology systems		$	263,910			$	1,686,456			$	369,991			$	2,221,310
	Services and consulting			1,436,568				1,552,454				3,335,560				3,598,776
	Services and consulting - related parties			5,152,805				-				13,827,958				-
	Hosting Revenue			24,000				-				32,000				-
	Total Revenues			6,877,283				3,238,910				17,565,509				5,820,086
COST OF REVENUES:
	Technology systems			340,926				947,563				921,405				2,311,912
	Services and consulting			545,127				1,372,248				2,170,379				2,709,007
	Services and consulting - related parties			3,440,635				-				9,075,172				-
	Hosting			34,193				-				49,536				-
	Total Cost of Revenues			4,360,881				2,319,811				12,216,492				5,020,919
GROSS MARGIN				2,516,402				919,099				5,349,017				799,167
OPERATING EXPENSES:
	Sales and marketing			253,779				471,411				966,394				1,737,353
	Research and development			115,080				396,610				846,850				1,168,752
	General and administration			3,263,523				1,971,358				9,882,064				5,790,804
	Total Operating Expenses			3,632,382				2,839,379				11,695,308				8,696,909
LOSS FROM OPERATIONS				(1,115,980	)			(1,920,280	)			(6,346,291	)			(7,897,742	)
OTHER INCOME (EXPENSES):
Interest expense				(29,334	)			(116,396	)			(439,260	)			(117,991	)
Change in fair value of warrant liabilities				-				245,980				-				245,980
Gain (Loss) on extinguishment of debt				(95,718	)			379,626				(95,718	)			379,626
Interest income on lease receivable				3,665				-				4,912				-
Interest income				200,607				7,130				240,215				29,707
Other income(loss), net				(3,494	)			2,277				(1,806	)			2,277
	Total Other Income (Expenses), net			75,726				518,617				(291,657	)			539,599
NET LOSS			$	(1,040,254	)		$	(1,401,663	)		$	(6,637,948	)		$	(7,358,143	)

DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
				September 30,				December 31,
				2025				2024
				(Unaudited)
ASSETS
CURRENT ASSETS:
	Cash			$	33,201,498			$	6,266,296
	Accounts receivable, net				136,286				109,007
	Accounts receivable, net - related parties				2,091,667				294,434
	Lease receivable				34,898				-
	Contract assets				741,722				635,774
	Inventory				503,772				605,356
	Prepaid expenses and other current assets				533,631				176,338
	Note Receivable, net				-				-
	Total Current Assets				37,243,474				8,087,205
	Inventory - non current, net				196,315				196,315
	Lease receivable, less current portion				236,645				-
	Property and equipment, net				11,987,162				2,771,779
	Operating lease right of use asset - Office Lease, net				3,748,465				4,028,397
	Financing lease right of use asset - Edge Data Centers, net				-				2,019,180
	Operating lease right of use asset - Land, net				248,438				-
	Security deposit				450,000				500,000
OTHER ASSETS:
	Equity Investment - Sawgrass APR Holdings LLC				7,233,000				7,233,000
	Intangible Asset, net				8,130,461				9,592,118
	Patents and trademarks, net				177,668				127,300
	Software development costs, net				142,652				403,383
	Total Other Assets				15,683,781				17,355,801
TOTAL ASSETS				$	69,794,280			$	34,958,677
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
	Accounts payable			$	888,792			$	969,822
	Notes payable - financing agreements				44,233				17,072
	Accrued expenses				483,710				373,251
	Operating lease obligation - Office Lease -current portion				813,496				798,556
	Financing lease obligation - Edge Data Centers - current portion				-				367,451
	Operating lease obligation- Land - current portion				32,000				-
	Notes payable, net of discount - related parties				-				1,758,396
	Contract liabilities, current				2,540,210				3,188,518
	Contract liabilities, current - related parties				4,866,500				8,616,500
	Total Current Liabilities				9,668,941				16,089,566
	Contract liabilities, less current portion				5,937,978				7,399,634
	Contract liabilities, less current portion - related parties				904,125				3,616,500
	Operating lease obligation - Office Lease, less current portion				3,560,725				3,867,042
	Operating lease obligation - Land, less current portion				220,696				-
	Financing lease obligations - Edge Data Centers, less current portion				-				1,724,604
	Total Liabilities				20,292,465				32,697,346
Commitments and Contingencies (Note 9)
STOCKHOLDERS' EQUITY:
	Preferred stock: $0.001 par value, 10,000,000 authorized, 9,441,000 shares available to be designated
	Series A redeemable convertible preferred stock, $10 stated value per share,				-				-
	500,000 shares designated; 0 and 0 issued and outstanding at September 30, 2025 and December 31, 2024, respectively,
	convertible into common stock at $6.30 per share
	Series B convertible preferred stock, $1,000 stated value per share,				-				-
	15,000 shares designated; 0 and 0 issued and outstanding at September 30, 2025
	and December 31, 2024, respectively, convertible into common stock at $7.00 per share
	Series C convertible preferred stock, $1,000 stated value per share,				-				-
	5,000 shares designated; 0 and 0 issued
	and outstanding at September 30, 2025 and December 31, 2024, respectively,
	convertible into common stock at $5.50 per share
	Series D convertible preferred stock, $1,000 stated value per share,				1				1
	4,000 shares designated; 999 and 1,299 issued
	and outstanding at September 30, 2025 and December 31, 2024, respectively,
	convertible into common stock at $3.00 per share
	Series E convertible preferred stock, $1,000 stated value per share,
	30,000 shares designated; 12,500 and 13,500 issued
	and outstanding at September 30, 2025 and December 31, 2024, respectively,				13				14
	convertible into common stock at $2.61 per share
	Series F convertible preferred stock, $1,000 stated value per share,
	5,000 shares designated; 0 and 0 issued
	and outstanding at September 30, 2025 and December 31, 2024, respectively,				-				-
	convertible into common stock at $6.20 per share
	Common stock: $0.001 par value; 500,000,000 shares authorized,
		20,322,940 and 8,922,576 shares issued, 20,321,616 and 8,921,252			20,323				8,921
		shares outstanding at September 30, 2025 and December 31, 2024, respectively
	Additional paid-in-capital				130,644,887				76,777,856
	Accumulated deficit				(81,005,957	)			(74,368,009	)
	Sub-total				49,659,267				2,418,783
	Less: Treasury stock (1,324 shares of common stock
		at September 30, 2025 and December 31, 2024)			(157,452	)			(157,452	)
Total Stockholders' Equity					49,501,815				2,261,331
Total Liabilities and Stockholders' Equity				$	69,794,280			$	34,958,677

DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
	For the Nine Months Ended
	September 30,
	2025				2024
Cash from operating activities:
Net loss	$	(6,637,948	)		$	(7,358,143	)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment of property, plant & equipment		72,872				-
Depreciation and amortization		1,962,342				1,472,965
Inventory write-off		25,000				-
Stock based compensation		3,103,309				281,405
Stock issued for services		134,333				122,500
Amortization of debt discount related to warrant liabilities		345,886				73,601
Fair value of warrant liabilities		-				(245,980	)
Loss on extinguishment of debt		95,718				(379,626	)
Amortization of operating lease right of use asset - Office Lease		279,934				255,684
Amortization of right of use asset - land		2,578				-
Amortization of lease right of use asset - Edge Data Centers		150,821				-
Changes in assets and liabilities:
Accounts receivable		(27,280	)			(138,689	)
Accounts receivable-related parties		(1,797,233	)			-
Lease receivable		11,229
Note receivable		-				(5,625	)
Contract assets		(105,948	)			32,939
Inventory		26,975				197,777
Prepaid expenses and other current assets		120,434				300,271
Accounts payable		(81,030	)			1,131,552
Security deposit		50,000				50,000
Accrued expenses		110,458				159,482
Operating lease obligation - Office Lease		(291,376	)			(252,557	)
Operating lease obligation - land		1,680				-
Financing lease obligations - Edge Data Centers		(12,358	)			-
Contract liabilities		(2,109,964	)			(1,897,703	)
Contract liabilities, related parties		(6,462,375	)
Net cash used in operating activities		(11,031,943	)			(6,200,147	)
Cash flows from investing activities:
Purchase of patents/trademarks		(59,522	)			(8,105	)
Purchase of property and equipment		(7,813,557	)			(1,547,439	)
Net cash used in investing activities		(7,873,079	)			(1,555,544	)
Cash flows from financing activities:
Repayments on financing agreements		(450,566	)			(340,232	)
Proceeds from notes payable, related parties		-				2,200,000
Repayments of lease financing		(2,150,000	)			-
Repayments of notes payable, related parties		(2,200,000	)			-
Proceeds from warrant excercises		-				899,521
Proceeds from common stock issued		53,960,455				197,011
Proceeds from excercise of stock options		144,777				-
Stock issuance costs		(3,579,166	)			(78,688	)
Proceeds from shares issued under Employee Stock Purchase Plan		114,724				87,348
Proceeds from preferred stock issued		-				2,995,002
Net cash provided by financing activities		45,840,224				5,959,962
Net increase (decrease) in cash		26,935,202				(1,795,729	)
Cash, beginning of period		6,266,296				2,441,842
Cash, end of period	$	33,201,498			$	646,113
Supplemental Disclosure of Cash Flow Information:
Interest paid	$	191,622			$	1,596
Taxes paid	$	41,098			$	5,432
Supplemental Non-Cash Investing and Financing Activities:
Debt discount for warrant liability	$	-			$	625,606
Notes issued for financing of insurance premiums	$	477,727			$	426,661
Transfer of inventory to property and equipment	$	49,609			$	300,000
Intangible asset acquired with contract liability	$	-			$	11,161,428
Transfer of property and equipment to lease receivable	$	282,772			$	-
Non-cash financing activity: Warrants issued as part of equity raise	$	836,989
Conversion of series E Preferred stock to common stock	$	1			$	-
Transfer of finance lease asset to property and equipment	$	1,938,662			$	-
Right of use asset and liability for land lease	$	251,016			$	-

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2cd2113d-c46a-4ef3-9447-be8b36e55a7b

This press release was published by a CLEAR® Verified individual.

Contacts 
Corporate
Fei Kwong, Director, Corporate Communications
Duos Technologies Group, Inc. (Nasdaq: DUOT)
904-652-1625
DUOT@duostech.com

FAQ

What did Duos Technologies (DUOT) report for Q3 2025 revenue?

Duos reported $6.9M in Q3 2025 revenue, a 112% increase year-over-year.

What is Duos Technologies' full‑year 2025 revenue guidance (DUOT)?

The company reiterated guidance of $28–30M total revenue for fiscal 2025.

How much cash does Duos (DUOT) have and did it retire debt?

As of Sept 30, 2025 Duos had $33.2M cash and equivalents and reported it retired all debt.

What backlog did Duos Technologies (DUOT) report and how much is expected in 2025?

Backlog totaled $25.8M, with approximately $12.4M expected to be recognized in the remainder of 2025.

How did the New APR AMA affect Duos' 2025 results (DUOT)?

The AMA drove most of the revenue increase, contributing recurring service revenue and improved gross margins in 2025.

Why did Duos' technology systems revenue decline in 2025 (DUOT)?

Technology revenue was limited by deployment delays for two high‑speed Railcar Inspection Portals awaiting customer site readiness.