Duos Technologies Q4 revenue down 74% YoY to $1.53M; net loss $3.16M

DUOS TECHNOLOGIES GROUP, INC.

2024-Q1 EPS reported -$0.38 revenue$1,070,680

Q4 revenue $1.53M, down 74% YoY; net loss $3.16M vs $952K loss in Q4 2022.
Full year 2023 revenue fell 50%, net loss $11.24M ($1.56 per share) vs $6.86M loss in 2022.
Recurring services and consulting revenue grew 29% in Q4 and 23% for full year; backlog $6.6M.
Withdrew prior guidance due to project delays; expects Q1 2024 revenue similar to Q4, then sequential improvement.
Raised $2.75M in March 2024 via preferred stock issuance; year-end cash+receivables $3.90M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

DUOS TECHNOLOGIES GROUP, INC. reported financial results for Q4 2023 ended December 31, 2023.

Period: Q4 2023 ended December 31, 2023
Result: reported results

Exact text from the filing

On April 1, 2024, Duos Technologies Group, Inc. (the "Company") issued a press release announcing the financial and operating results of the Company for the fourth quarter ("Q4 2023") and full year ended December 31, 2023. The text of the press release is furnished as Exhibit 99.1 and incorporated herein by reference.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

DUOS TECHNOLOGIES GROUP, INC. reported financial results for full year ended December 31, 2023.

Period: full year ended December 31, 2023
Result: reported results

Exact text from the filing

On April 1, 2024, Duos Technologies Group, Inc. (the "Company") issued a press release announcing the financial and operating results of the Company for the fourth quarter ("Q4 2023") and full year ended December 31, 2023. The text of the press release is furnished as Exhibit 99.1 and incorporated herein by reference.

View on SEC.gov

321 earnings releases filed in the last 30 days. Browse all earnings releases →

DUOS TECHNOLOGIES GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001079973-24-000504

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