secwatch.observer — SEC 8-K summary
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Issuer:     DUOS TECHNOLOGIES GROUP, INC. (DUOT)
CIK:        0001396536
Form:       8-K
Filed at:   2024-04-02T23:59:59+00:00
Accession:  0001079973-24-000504
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1396536/000107997324000504/0001079973-24-000504-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1396536/000107997324000504/duot_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-24-000504

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