Duos Technologies Reports Second Quarter 2026 Results
Rhea-AI Summary
Duos Technologies Group (Nasdaq: DUOT) reported Q2 2026 revenue of $6.18 million, up about 30% year over year, driven mainly by Technology Solutions. Gross margin rose to $3.45 million, and Duos posted its first positive operating quarter as a data center infrastructure company with operating income of $0.05 million.
Net income before taxes reached $53.64 million, primarily from a $53.17 million gain on sale of investments tied to New APR’s asset sale. The company secured over $100 million in growth capital, including $55 million from a registered direct offering and $50.4 million in proceeds from New APR. Duos signed a five-year, 55 MW hosting agreement with Axe Compute valued at more than $500 million and a $111 million, 10 MW contract with an investment-grade hyperscaler. Cash and equivalents grew to $112.31 million, and Duos reaffirmed 2026 guidance for more than $50 million in revenue and deployment of 25 MW of capacity.
Positive
- Q2 2026 revenue $6.18M, up ~30% year over year
- Q2 2026 gross margin $3.45M, up 94% versus Q2 2025
- First positive operating quarter with Q2 operating income of $0.05M
- Net income before taxes $53.64M in Q2 2026, driven by $53.17M gain on investments
- Growth capital raised over $105M from $55M offering and $50.4M New APR proceeds
- Major hosting contracts: 55 MW Axe Compute deal >$500M and $111M 10 MW hyperscaler contract
- Strong liquidity with cash and equivalents of $112.31M at June 30, 2026
- 2026 revenue guidance reaffirmed to exceed $50M with 25 MW deployed
- Positive adjusted EBITDA of $0.5M in Q2 2026
- Added to Russell 2000 Index in 2026 reconstitution
Negative
- Six‑month 2026 revenue $8.32M, down 4% versus prior‑year period
- Services and consulting revenue declined due to reduced AMA scope and New APR asset sale
- Six‑month operating expenses rose 49% to $7.63M year over year
- Six‑month operating loss widened to $3.13M from $2.07M
- Loss from discontinued operations $0.81M in Q2 2026 and $1.27M for six months
News Explained
The asset change is complete, but the proposed 0Lat lease remains limited to exclusivity and confirmatory diligence.
The release reports that Duos has a proposed 0Lat structured-lease term sheet in a 90-day exclusivity and diligence stage, while the sale of its wholly owned rail subsidiary is complete, changing which businesses remain inside the group.
The 0Lat item is therefore a proposal with a specified review period, not a completed lease; the rail divestiture is reported at the completed stage.
The completed sale leaves the company focused on its disclosed Edge Data Center and AI infrastructure businesses, while the proposed lease remains subject to the stated diligence process.
Market Reaction – DUOT
Following this news, DUOT has gained 5.84%, reflecting a notable positive market reaction. Argus tracked a peak move of +22.0% during the session. Our momentum scanner has triggered 33 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $10.88. Trading volume is exceptionally heavy at 8.9x the average, suggesting very strong buying interest.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 14 | earnings timing update | Neutral | -2.7% | Company moved the Q2 earnings release and conference call to August 17. |
| Aug 10 | earnings call scheduling | Neutral | -3.7% | Company scheduled the Q2 2026 earnings call for August 17. |
| May 18 | Q1 earnings report | Negative | -5.3% | Revenue declined 45% year over year and the company reported a net loss. |
| May 11 | earnings call scheduling | Neutral | +3.8% | Company scheduled its first-quarter 2026 earnings conference call. |
| Mar 26 | Q4 earnings call scheduling | Neutral | -5.6% | Company scheduled the Q4 and full-year 2025 earnings call. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings history showed an average move of -2.69% across five events, with negative reactions following both recent earnings-related scheduling updates.
Key Terms
adjusted ebitda financial
registered direct offering financial
deferred revenue financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Q2 2026 Revenue Increases Nearly
Over
Company Reaffirms 2026 Guidance for 25 MW Deployed and Over
JACKSONVILLE, Fla., Aug. 17, 2026 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), a leading provider of adaptive, modular, and scalable Edge Data Center solutions, reported financial results for the second quarter (“Q2 2026”) ended June 30, 2026.
Second Quarter 2026 and Recent Operational Highlights
- Signed five-year, 55 MW hosting agreements with Axe Compute valued at more than
$500 million , representing a significant commercial milestone in the Company’s strategy to develop and operate high-density AI infrastructure - Entered into an exclusive term sheet with 0Lat LLC for a proposed structured lease across a 15-site, 225-cabinet Edge Data Center portfolio in Texas and Georgia, initiating a 90-day exclusivity and confirmatory diligence period
- Completed the sale of the Company’s wholly owned rail technology subsidiary, Duos Technologies, Inc. The divestiture marks the completion of a broader strategic repositioning and enables the Company to fully concentrate its resources on its Edge Data Center and AI infrastructure businesses through Duos Edge AI, Inc. and Duos Technology Solutions, Inc.
- Secured
$111 million in contracted revenue with an investment-grade hyperscaler to provide 10 MW of critical IT-load capacity for five years at its Columbus, Georgia data center campus - The Company now has 25 MW contracted with all 25 MW planned for deployment in 2026, demonstrating accelerating demand and an ability to rapidly design, manufacture, and deploy modular infrastructure in underserved Tier 3 and Tier 4 markets
- Received
$50.4 million in proceeds from the sale of substantially all the assets of New APR Energy, LLC, in which the Company held a5% minority stake of the parent company - Closed
$55 million registered direct offering with a single large institutional investor, providing additional financial support for the Company’s growth plans, including the acquisition of its Columbus facility and related infrastructure investments to fulfill contracted customer deployments and expand the campus - Hosted six (6) open houses with additional events and grand openings planned, showcasing the continued expansion of the Company’s EDC pipeline to support increasing demand for AI inference, training, and high-performance computing workloads
- Added to the Russell 2000® Index as part of the 2026 Russell indexes annual reconstitution
Second Quarter 2026 Financial Results
It should be noted that the following Financial Results represent the consolidation of the Company with its subsidiaries Duos Edge AI, Inc., Duos Technology Solutions, Inc. and Duos Energy Corporation (“Duos Energy”).
Total revenues for Q2 2026 increased
The Technology Solutions business unit provides manufacturer-agnostic infrastructure sourcing, integration, and value-added supply chain services supporting data center, AI, and enterprise deployments. The Company expects services revenue from both its hosting and technology solutions to increase throughout 2026. This growth is expected to be driven by the deployment of additional edge data centers coming online as well as expanding Technology Solutions revenue tied to growth in the data center market.
Cost of revenues for Q2 2026 decreased
Gross margin for Q2 2026 increased
Operating expenses for Q2 2026 increased
Net operating income for Q2 2026 totaled
Net income before taxes for Q2 2026 totaled
Cash and cash equivalents at June 30, 2026 totaled
Six Month 2026 Financial Results
Total revenues decreased
Cost of revenues decreased
Gross margin increased
Operating expenses increased
Net operating loss totaled
Net income before taxes totaled
Financial Outlook
At the end of the second quarter, the Company’s bookings represented approximately
Based on these committed contracts and near-term pending orders that are already performing or scheduled to be executed throughout the course of 2026, the Company is reconfirming its expectation for total revenue in 2026 to exceed
Adjusted EBITDA for the second quarter of 2026 was
Management Commentary
“In the second quarter and over the last several weeks, we have made tremendous progress both in operational execution and the fundamental repositioning of our business as a standalone AI infrastructure provider,” said Duos CEO Doug Recker. “Financially, we began to see the early stages of the substantial performance ramp we expect to build over the course of this year, highlighted by a
“Operationally, we recently announced the successful divestiture of our legacy rail operations, which will now enable us to fully concentrate our resources on the Edge Data Center and AI infrastructure businesses. We also agreed to terms on a new
Conference Call
The Company’s management will host a conference call on Monday, August 17, 2026, at 4:30 p.m. Eastern Time to discuss these results, followed by a question-and-answer period.
| Date: | Monday, August 17, 2026 | ||
| Time: | 4:30 p.m. Eastern time (1:30 p.m. Pacific time) | ||
| U.S. dial-in: | +1 877-407-3088 | ||
| International: | Dial-In Matrix Link | ||
| Confirmation: | 13761911 | ||
If you experience any difficulty accessing the call or wish to submit questions in advance, please contact the Company at DUOT@duostech.com. An audio replay of the call will also be available in the Investor Relations section of the Company’s website following the event.
For additional information about the Company, please visit: www.duostechnologies.com | www.duosedge.ai.
About Duos Technologies Group, Inc.
Duos Technologies Group, Inc. (Nasdaq: DUOT), based in Jacksonville, Florida, is focused on providing and managing modular data center colocation facilities and infrastructure solutions. Through its wholly owned subsidiaries Duos Edge AI, Inc., and Duos Technology Solutions, Inc., the Company delivers high function computing infrastructure at the “Edge” designed to support high power computing facilities suitable for AI and Enterprise Computing. Duos is strategically focused on scaling its edge data center platforms in conjunction with its data center infrastructure solutions business. It provides manufacturer-agnostic sourcing and fulfillment services to support efficient deployment of data centers and IT environments. Together, these platforms position the Company to address the growing demand for distributed digital infrastructure, while continuing to support legacy applications in Tier 3 and Tier 4 markets.
For more information, visit www.duostech.com and www.duosedge.ai.
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.
Contacts
Investor Relations
Tom Colton and Greg Bradbury
Gateway Group, Inc.
+1 949-574-3860 | DUOT@duostech.com
| DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES | |||||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| For the Three Months Ended | For the Six Months Ended | ||||||||||||||||
| June 30, | June 30, | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| REVENUES: | |||||||||||||||||
| Technology solutions | 3,231,544 | $ | - | 3,793,998 | $ | - | |||||||||||
| Services and consulting - related parties | 2,911,330 | 4,760,403 | 4,463,902 | 8,675,153 | |||||||||||||
| Hosting Revenue | 32,549 | 8,000 | 62,824 | 8,000 | |||||||||||||
| Total Revenues | 6,175,423 | 4,768,403 | 8,320,724 | 8,683,153 | |||||||||||||
| COST OF REVENUES: | |||||||||||||||||
| Technology solutions | 2,404,108 | - | 2,910,678 | - | |||||||||||||
| Services and consulting - related parties | 226,255 | 2,976,469 | 770,112 | 5,634,537 | |||||||||||||
| Hosting | 98,964 | 15,343 | 138,397 | 15,343 | |||||||||||||
| Total Cost of Revenues | 2,729,327 | 2,991,812 | 3,819,187 | 5,649,880 | |||||||||||||
| GROSS MARGIN | 3,446,096 | 1,776,591 | 4,501,537 | 3,033,273 | |||||||||||||
| OPERATING EXPENSES: | |||||||||||||||||
| Sales and marketing | 253,515 | 32,835 | 742,362 | 81,296 | |||||||||||||
| Research and development | - | - | - | - | |||||||||||||
| General and administration | 3,143,488 | 3,283,938 | 6,884,358 | 5,024,723 | |||||||||||||
| Total Operating Expenses | 3,397,003 | 3,316,773 | 7,626,720 | 5,106,020 | |||||||||||||
| INCOME (LOSS) FROM OPERATIONS | 49,093 | (1,540,182 | ) | (3,125,183 | ) | (2,072,747 | ) | ||||||||||
| OTHER INCOME (EXPENSES): | |||||||||||||||||
| Interest expense | (121 | ) | (87,348 | ) | (121 | ) | (406,660 | ) | |||||||||
| Interest income on lease receivable | 3,325 | 1,247 | 6,765 | 1,247 | |||||||||||||
| Interest income | 413,490 | 10,629 | 497,049 | 43,357 | |||||||||||||
| Other income, net | - | (1,875 | ) | - | (2,061 | ) | |||||||||||
| Gain on sale of investments | 53,173,803 | - | 53,226,105 | - | |||||||||||||
| Total Other Income (Expenses), net | 53,590,497 | (77,348 | ) | 53,729,798 | (364,118 | ) | |||||||||||
| INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | $ | 53,639,590 | $ | (1,617,530 | ) | $ | 50,604,615 | $ | (2,436,865 | ) | |||||||
| Income tax expense | $ | (4,984,170 | ) | $ | - | $ | (4,984,170 | ) | $ | - | |||||||
| NET INCOME (LOSS) FROM CONTINUING OPERATIONS NET OF TAX | $ | 48,655,420 | $ | (1,617,530 | ) | $ | 45,620,445 | $ | (2,436,865 | ) | |||||||
| NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS NET OF TAX | $ | (810,990 | ) | $ | (1,900,502 | ) | $ | (1,268,260 | ) | $ | (3,160,829 | ) | |||||
| NET INCOME (LOSS) | $ | 47,844,430 | $ | (3,518,032 | ) | $ | 44,352,185 | $ | (5,597,695 | ) | |||||||
| Basic Net Income (Loss) Per Share From Continuing Operations | $ | 1.61 | $ | (0.14 | ) | $ | 1.70 | $ | (0.21 | ) | |||||||
| Basic Net Income (Loss) Per Share From Discontinued Operations | $ | (0.03 | ) | $ | (0.16 | ) | $ | (0.05 | ) | $ | (0.27 | ) | |||||
| Basic Net Income (Loss) Per Share | $ | 1.58 | $ | (0.30 | ) | $ | 1.65 | $ | (0.48 | ) | |||||||
| Diluted Net Income (Loss) Per Share From Continuing Operations | $ | 1.37 | $ | (0.14 | ) | $ | 1.41 | $ | (0.21 | ) | |||||||
| Diluted Net Income (Loss) Per Share From Discontinued Operations | $ | (0.02 | ) | $ | (0.16 | ) | $ | (0.04 | ) | $ | (0.27 | ) | |||||
| Diluted Net Income (Loss) Per Share | $ | 1.35 | $ | (0.30 | ) | $ | 1.37 | $ | (0.48 | ) | |||||||
| Weighted Average Shares-Basic | 30,143,928 | 11,847,115 | 26,899,063 | 11,619,714 | |||||||||||||
| Weighted Average Shares-Diluted | 35,538,098 | 11,847,115 | 32,258,735 | 11,619,714 | |||||||||||||
| DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES | |||||||||
| CONSOLIDATED BALANCE SHEETS | |||||||||
| June 30, | December 31, | ||||||||
| 2026 | 2025 | ||||||||
| (unaudited) | |||||||||
| ASSETS | |||||||||
| CURRENT ASSETS: | |||||||||
| Cash | $ | 112,308,012 | $ | 15,472,229 | |||||
| Accounts receivable, net | 3,064,611 | 621,927 | |||||||
| Accounts receivable, net - related parties | 222,923 | 5,304,231 | |||||||
| Holdback receivable - related parties | 10,013,872 | - | |||||||
| Lease receivable | 36,307 | 35,361 | |||||||
| Contract assets | 2,558,125 | - | |||||||
| Inventory | 50,438 | 2 | |||||||
| Prepaid expenses and other current assets | 1,461,767 | 487,660 | |||||||
| Total Current Assets | 129,716,055 | 21,921,410 | |||||||
| Deposits on equipment | 68,793,810 | - | |||||||
| Deposit on real estate | 5,800,000 | - | |||||||
| Lease receivable, less current portion | 209,236 | 227,629 | |||||||
| Property and equipment, net | 29,726,514 | 27,311,933 | |||||||
| Operating lease right of use asset - Land, net | 600,506 | 357,561 | |||||||
| OTHER ASSETS: | |||||||||
| Equity Investment - Sawgrass APR Holdings LLC | - | 7,233,000 | |||||||
| Patents and trademarks, net | 14,601 | 15,111 | |||||||
| Total Other Assets | 14,601 | 7,248,111 | |||||||
| Assets held for sale | 6,426,222 | 6,342,772 | |||||||
| TOTAL ASSETS | $ | 241,286,943 | $ | 63,409,415 | |||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||
| CURRENT LIABILITIES: | |||||||||
| Accounts payable | $ | 1,445,855 | $ | 4,592,930 | |||||
| Notes payable - financing agreements | 326,617 | - | |||||||
| Accrued expenses | 760,486 | 185,194 | |||||||
| Income taxes payable | 4,984,170 | - | |||||||
| Operating lease obligation- Land - current portion | 103,224 | 53,000 | |||||||
| Contract liabilities, current - Technology Solutions | 2,477,952 | 1,132,164 | |||||||
| Contract liabilities, current - related parties | - | 3,616,500 | |||||||
| Total Current Liabilities | 10,098,304 | 9,579,788 | |||||||
| Contract liabilities, less current portion | 18,770,228 | - | |||||||
| Operating lease obligation - Land, less current portion | 522,801 | 311,457 | |||||||
| Liabilities held for sale | 4,490,799 | 4,965,605 | |||||||
| Total Liabilities | 33,882,132 | 14,856,849 | |||||||
| Commitments and Contingencies (Note 13) | |||||||||
| STOCKHOLDERS' EQUITY: | |||||||||
| Preferred stock: | |||||||||
| Series A redeemable convertible preferred stock, | - | - | |||||||
| 500,000 shares designated; 0 and 0 issued and outstanding at June 30, 2026 and December 31, 2025, respectively, | |||||||||
| convertible into common stock at | |||||||||
| Series B convertible preferred stock, | - | - | |||||||
| 15,000 shares designated; 0 and 0 issued and outstanding at June 30, 2026 | |||||||||
| and December 31, 2025, respectively, convertible into common stock at | |||||||||
| Series C convertible preferred stock, | - | - | |||||||
| 5,000 shares designated; 0 and 0 issued | |||||||||
| and outstanding at June 30, 2026 and December 31, 2025, respectively, | |||||||||
| convertible into common stock at | |||||||||
| Series D convertible preferred stock, | 1 | 1 | |||||||
| 4,000 shares designated; 999 and 999 issued | |||||||||
| and outstanding at June 30, 2026 and December 31, 2025, respectively, | |||||||||
| convertible into common stock at | |||||||||
| Series E convertible preferred stock, | |||||||||
| 30,000 shares designated; 12,500 and 12,500 issued | |||||||||
| and outstanding at June 30, 2026 and December 31, 2025, respectively, | 13 | 13 | |||||||
| convertible into common stock at | |||||||||
| Series F convertible preferred stock, | |||||||||
| 5,000 shares designated; 0 and 0 issued | |||||||||
| and outstanding at June 30, 2026 and December 31, 2025, respectively, | - | - | |||||||
| convertible into common stock at | |||||||||
| Common stock: | |||||||||
| 31,273,823 and 20,449,462 shares issued, 31,272,499 and 20,448,138 | 31,275 | 20,449 | |||||||
| shares outstanding at June 30, 2026 and December 31, 2025, respectively | |||||||||
| Additional paid-in-capital | 247,381,829 | 132,892,595 | |||||||
| Accumulated deficit | (39,850,855 | ) | (84,203,040 | ) | |||||
| Sub-total | 207,562,263 | 48,710,018 | |||||||
| Less: Treasury stock (1,324 shares of common stock | |||||||||
| at June 30, 2026 and December 31, 2025) | (157,452 | ) | (157,452 | ) | |||||
| Total Stockholders' Equity | 207,404,811 | 48,552,566 | |||||||
| Total Liabilities and Stockholders' Equity | $ | 241,286,943 | $ | 63,409,415 | |||||
| DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES | |||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (Unaudited) | |||||||
| For the Six Months Ended | |||||||
| June 30, | |||||||
| 2026 | 2025 | ||||||
| Cash from operating activities: | |||||||
| Net income (loss) | $ | 44,352,183 | $ | (5,597,694 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 96,249 | 15,410 | |||||
| Gain on sale on investments | (53,226,105 | ) | - | ||||
| Stock based compensation | 1,752,332 | 2,133,933 | |||||
| Stock issued for services | 208,750 | 90,000 | |||||
| Amortization of debt discount related to warrant liabilities | - | 326,743 | |||||
| Amortization of right of use asset - land | 9,441 | - | |||||
| Amortization of lease right of use asset - Edge Data Centers | - | 150,821 | |||||
| Provision for credit losses, accounts receivable | 40,561 | - | |||||
| Changes in assets and liabilities: | |||||||
| Accounts receivable | (2,507,996 | ) | - | ||||
| Accounts receivable-related parties | 5,081,308 | (952,898 | ) | ||||
| Lease receivable | 17,447 | 2,789 | |||||
| Contract assets | (2,558,125 | ) | - | ||||
| Inventory | (50,436 | ) | - | ||||
| Prepaid expenses and other current assets | (220,791 | ) | 200,451 | ||||
| Accounts payable | (3,147,075 | ) | (80,496 | ) | |||
| Accrued expenses | 5,559,462 | 181,437 | |||||
| Operating lease obligation - land | 3,501 | - | |||||
| Financing lease obligations - Edge Data Centers | - | (12,359 | ) | ||||
| Contract liabilities, Technology solutions | 1,345,788 | - | |||||
| Contract liabilities, related parties | (3,616,500 | ) | (4,308,250 | ) | |||
| Contract liabilities, less current portion | 18,770,228 | - | |||||
| Net cash provided by (used in) operating activities - continuing operations | 11,910,222 | (7,850,113 | ) | ||||
| Net cash used in operating activities - discontinued operations | (549,458 | ) | (25,624 | ) | |||
| Net cash provided by (used in) operating activities | 11,360,764 | (7,875,737 | ) | ||||
| Cash flows from investing activities: | |||||||
| Purchase of patents/trademarks | |||||||
| Deposits on equipment | (68,793,810 | ) | - | ||||
| Proceeds from sale of investments | 50,392,931 | - | |||||
| Purchase of Marketable Securities | (29,693,638 | ) | - | ||||
| Sale of Marketable Securities | 29,745,940 | - | |||||
| Deposit on real estate | (5,800,000 | ) | - | ||||
| Purchase of property and equipment | (2,510,721 | ) | (1,363,560 | ) | |||
| Net cash used in investing activities - continuing operations | (26,659,298 | ) | (1,363,560 | ) | |||
| Net cash used in investing activities - discontinued operations | (15,087 | ) | (24,482 | ) | |||
| Net cash used in investing activities | (26,674,385 | ) | (1,388,042 | ) | |||
| Cash flows from financing activities: | |||||||
| Repayments on financing agreements | (389,565 | ) | (274,965 | ) | |||
| Repayments of notes payable, related parties | - | (1,000,000 | ) | ||||
| Proceeds from common stock issued | 120,096,195 | 5,692,579 | |||||
| Proceeds from exercise of stock options | 374,326 | 144,777 | |||||
| Stock issuance costs | (7,983,869 | ) | (205,238 | ) | |||
| Proceeds from shares issued under Employee Stock Purchase Plan | 52,317 | 114,724 | |||||
| Net cash provided by financing activities - continuing operations | 112,149,404 | 4,471,877 | |||||
| Net increase (decrease) in cash | 96,835,783 | (4,767,419 | ) | ||||
| Cash, beginning of period | 15,472,229 | 6,266,296 | |||||
| Cash, end of period | $ | 112,308,012 | $ | 1,498,877 | |||
| Supplemental Disclosure of Cash Flow Information: | |||||||
| Interest paid | $ | - | $ | 3,865 | |||
| Taxes paid | $ | - | $ | 19,733 | |||
| Supplemental Non-Cash Investing and Financing Activities: | |||||||
| Notes issued for financing of insurance premiums | $ | 671,834 | $ | 477,727 | |||
| Transfer of inventory to property and equipment | $ | - | $ | 49,609 | |||
| Subscription receivable | $ | - | $ | 98,235 | |||
| Transfer of property and equipment to lease receivable | $ | - | $ | 282,772 | |||
| Non-cash financing activity: Warrants issued as part of equity raise | $ | 2,305,016 | $ | - | |||
| Conversion of Series E Preferred Stock to common stock | $ | - | $ | 1 | |||
| Initial ROU asset and liability | $ | 256,765 | $ | - | |||
