secwatch.observer — SEC 8-K summary
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Issuer:     DUOS TECHNOLOGIES GROUP, INC. (DUOT)
CIK:        0001396536
Form:       8-K
Filed at:   2023-11-15T23:59:59+00:00
Accession:  0001079973-23-001615
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Duos Tech Q3 revenue drops 62% to $1.53M, net loss widens; withdraws 2023 guidance
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- Revenue $1.53M (-62% YoY); net loss $2.95M vs $1.93M loss in Q3 2022.
- Gross margin $227k (-79% YoY); operating loss $2.97M vs $1.87M loss.
- Withdrew FY2023 guidance due to project delays and extended customer budgeting cycles.
- First subscription agreement with passenger transit operator, $300k+ annually; transition to recurring model.
- Backlog $6.4M; expects $1-2M recognized in 2023; cash $3.27M vs $1.12M at year-end 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1396536/000107997323001615/0001079973-23-001615-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1396536/000107997323001615/duot_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-23-001615

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