secwatch.observer — SEC 8-K summary
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Issuer:     DUOS TECHNOLOGIES GROUP, INC. (DUOT)
CIK:        0001396536
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001079973-23-000737
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Duos Technologies Q1 revenue up 84% to $2.64M, net loss narrows; FY guidance reaffirmed $20M-$21M
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- Revenue $2.64M (+84% YoY); gross margin $537K (+142%); net loss $2.14M vs $2.64M loss in Q1 2022.
- Cash $4.34M, up from $1.12M at Dec 2022, after $4M Series E preferred stock raise.
- Backlog $9.4M with $7.7M expected recognized in remainder 2023; FY guidance $20M-$21M reiterated.
- 37 AI models deployed, targeting >50 by year-end; add-on $1.9M for passenger portal boosts contract to $13.5M.
- Q2 revenue expected similar to Q1; ramp in H2; subscription model installation begins H2 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1396536/000107997323000737/0001079973-23-000737-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1396536/000107997323000737/duot_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-23-000737

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer