secwatch.observer — SEC 8-K summary
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Issuer:     DUOS TECHNOLOGIES GROUP, INC. (DUOT)
CIK:        0001396536
Form:       8-K
Filed at:   2024-08-14T23:59:59+00:00
Accession:  0001079973-24-001248
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Duos Tech Q2 revenue $1.51M (-15% YoY), net loss $3.2M; backlog $19.6M, recurring revenue up 38%
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- Total revenue $1.51M in Q2 2024, down 15% from $1.77M in Q2 2023; technology systems revenue fell to $265K.
- Recurring services and consulting revenue rose 38% to $1.245M driven by new AI/subscription customers.
- Net loss expanded to $3.20M from $2.99M; cash and equivalents declined to $0.51M from $2.44M at Dec 2023.
- Backlog of $19.6M includes $10.9M Class 1 railroad data agreement; expects $6.9M recognized in H2 2024.
- Formed Duos Edge AI and Duos Energy subsidiaries; three EDCs in production with ~$1M ARR expected Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1396536/000107997324001248/0001079973-24-001248-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1396536/000107997324001248/duot_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-24-001248

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