Duos Technologies Group Inc Stock Price, News & Analysis

Duos Technologies Group, Inc. (NASDAQ:DUOT) has announced a registered public offering of its common stock. The company will also grant the underwriter a 30-day option to purchase an additional 15% of the shares sold. The proceeds from this offering are intended for potential acquisitions, general corporate purposes, and working capital. The offering is subject to market conditions and is backed by Northland Capital Markets as the sole book-running manager. Full offering terms will be disclosed in a prospectus supplement filed with the SEC.

Duos Technologies Group (NASDAQ:DUOT) announced preliminary financial results for Q4 and full-year 2021, predicting total revenue of approximately $8.29 million, a 3.6% increase from previous estimates. The Q4 net loss is estimated to be between $250,000 and $295,000, showing over 31% improvement year-over-year. The company projects 2022 revenue between $16.5 million and $18 million, indicating more than a doubling of revenue from 2021. Despite ongoing supply chain challenges, Duos expects to achieve significant growth and progress towards profitability.

Duos Technologies Group (NASDAQ:DUOT) has secured a significant contract valued at over $2.7 million from a Class I rail operator to enhance inspection operations at the U.S.-Mexico border. The contract involves deploying a Railcar Inspection Portal powered by Duos' Expert Artificial Intelligence for automated inspections, integrated with U.S. government operations. The deal includes both project and recurring revenues, with maintenance and AI services expected to be renewed annually. Installation is projected for completion within 2022, marking a step towards improved efficiency in the railroad industry.

Duos Technologies Group (NASDAQ:DUOT) has secured a landmark contract with a major Canadian transit agency for its Automatic Pantograph Inspection System (apis®). Valued at over $500,000, the system will enhance mechanical inspections of railcars in transit and is expected to be operational within the year. This contract signifies a broader trend towards automation in the rail industry. Additionally, Duos anticipates further announcements regarding potential deployments as discussions with clients progress.

Duos Technologies Group (NASDAQ:DUOT) announced a new contract with CSX Corporation (NASDAQ:CSX) for an additional Railcar Inspection Portal, marking the third installation in their ongoing partnership. This contract includes annual service and maintenance, along with the implementation of Duos' truevue360 platform and Expert Artificial Intelligence technology. Installation is expected to be completed by Q2 2022, showcasing a trend in the railroad industry towards automated inspections.

Duos Technologies Group (NASDAQ:DUOT) has been invited to present at the inaugural Wells Fargo Tech in Transportation Forum on December 16, 2021, at 11:50 a.m. Eastern time. The event will be virtual and will include a one-on-one Q&A session moderated by Wells Fargo's Allison Poliniak-Cusic. The forum aims to address complex supply challenges and features presentations from leading innovators in the transportation sector. Duos provides intelligent vision-based technology solutions that enhance safety and streamline operations in rail and logistics.

Duos Technologies Group, Inc. (Nasdaq:DUOT) reported a 36% increase in third-quarter revenue to $1.74 million, driven by technology systems and recurring services. The company received a Notice to Proceed for significant upgrades to Railcar Inspection Portals and secured a new order for an Automated Pantograph Inspection System. Despite a 83% increase in cost of revenues, net loss improved to $2.45 million. Looking ahead, Duos expects total revenue of $8.0 million to $9.0 million for the fiscal year, anticipating a stronger 2022.

Duos Technologies Group, Inc. (NASDAQ:DUOT) will hold a conference call on November 15, 2021, at 4:30 p.m. ET to discuss its financial results for the third quarter ended September 30, 2021. A press release with financial results will precede the call. Interested parties can join the call via U.S. dial-in at 877-407-3088 or international dial-in at 201-389-0927. The call will be available for replay on the Company’s investor website.

Duos Technologies Group (NASDAQ:DUOT), a leader in vision-based technology solutions, will present at the 10th Annual Gateway Conference on September 9, 2021, at 11:30 a.m. PT (2:30 p.m. ET). The event is virtual, and the presentation will be available for live streaming and replay. One-on-one meetings will also be conducted during the conference. The Gateway Conference has successfully connected over 800 growth companies with thousands of investors in the past nine years. For more details or to arrange meetings, contact conference@gatewayir.com.