Duos Technologies Group Inc Stock Price, News & Analysis

Duos Technologies Group (NASDAQ:DUOT) has appointed Matt Keepman as Senior Vice President of Sales and Marketing to enhance its commercial strategy. With over 20 years in the rail industry, Keepman previously managed strategic accounts at Wabtec Corporation. His role will focus on driving top-line growth, particularly through inspection data subscription plans, while advancing the company's market strategy. CEO Chuck Ferry expressed confidence in Keepman's ability to expand revenue streams and improve safety and efficiency in rail technology.

Duos Technologies Group (Nasdaq:DUOT) announced plans to expand its operations by building and owning railcar inspection portals ("Subscription RIPs") across North America. This initiative follows a capital raise and aims to enhance its machine vision and AI services for customers in the rail sector. Currently, Duos has 11 operational RIPs, with plans to reach 20 by year-end 2023. The company reaffirmed its annual revenue guidance of $16.5 to $18.0 million, focusing on expanded service offerings to improve safety and efficiency for railcar operators.

Duos Technologies Group, Inc. (Nasdaq: DUOT) announced a Private Investment in Public Equity (PIPE) offering to support business expansion in the rail market. The company has raised approximately $3.45 million by selling 818,335 common shares at $3.00 each and a small amount of Series D Preferred Stock. The net proceeds will fund the construction of additional Rail Inspection Portals. Duos maintains its annual revenue guidance of $16.5 million to $18.0 million for 2022, though it anticipates third-quarter revenue lower than expected due to supply chain issues and Hurricane Ian.

Duos Technologies Group (Nasdaq:DUOT) reported Q2 2022 total revenue of $3.62 million, up 458% from $649,000 in Q2 2021. This growth was driven by new railcar inspection portals and AI deployments, contributing to a recurring revenue increase of over $500,000. The company's gross margin improved significantly to $1.28 million, up 575%, while net loss decreased to $1.34 million. Despite facing supply chain challenges, Duos anticipates continued revenue growth in 2022, with a backlog of $14-16 million. Operating expenses stabilized at $2.68 million, reflecting a focus on operational efficiency.

Duos Technologies Group (Nasdaq:DUOT) will host a conference call on August 15, 2022, at 4:30 PM ET to discuss its Q2 financial results for the period ending June 30, 2022. Financial results will be released prior to the call. Interested parties can join by calling U.S. dial-in 877-407-3088 or International dial-in 201-389-0927. The call will include a question-and-answer session. Duos specializes in vision-based technology solutions for various sectors, enhancing operational efficiency and safety.

Duos Technologies Group, Inc. (NASDAQ:DUOT) has joined the NVIDIA Metropolis partner program, enhancing its AI-powered video analytics capabilities. This integration aims to improve safety and efficiency in railcar inspections, leveraging NVIDIA's GPU-accelerated technologies to develop specific algorithms for inspection datasets. The partnership positions Duos to capitalize on future opportunities across various sectors. CEO Chuck Ferry emphasized that this alliance elevates their technological offerings, indicating a strategic move to expand operations both domestically and internationally.

Duos Technologies Group reported Q1 2022 financial results, revealing total revenue decreased by 33% to $1.44 million compared to Q1 2021. Major contracts awarded include a $9 million order for thermal and vision scanner solutions and a $2.7 million deal with a Class I rail operator. Operating expenses rose by 23%, contributing to a net loss of $2.64 million, up from a net loss of $406,000 year-over-year. The company has a backlog of contracts valued at approximately $17 million and forecasts 2022 revenue between $16.5 million and $18 million.

Duos Technologies Group, Inc. (NASDAQ:DUOT) announces a conference call on May 16, 2022 at 4:30 PM ET to discuss its financial results for Q1 2022, which ended on March 31, 2022. Prior to the call, financial results will be released via press release. Investors can join by calling 866-682-6100 for the U.S. and 862-298-0702 internationally. The company specializes in vision-based technology solutions that serve rail and logistics sectors, aiming to improve safety and reduce costs.

Duos Technologies Group (NASDAQ:DUOT) will present at the Planet MicroCap Showcase 2022 in Las Vegas from May 3-5, 2022. The presentation is scheduled for May 4, 2022, at 2:00 p.m. PT (5:00 p.m. ET). Participants can access the live webcast here. The company focuses on intelligent vision-based technology solutions aimed at enhancing operations, safety, and cost-efficiency for rail, logistics, and government sectors. Interested investors can register for in-person meetings at the event.