Duos Tech Q3 revenue up 131% to $4.02M; reaffirms FY revenue $16.5M-$18M

DUOS TECHNOLOGIES GROUP, INC.

2022-Q3 EPS reported -$1.01 revenue$9,078,696

Q3 revenue $4.02M (vs $1.74M) +131% YoY; net loss narrowed to $1.93M (vs $2.45M).
Reaffirms FY2022 revenue guidance $16.5M-$18M (99%-117% YoY growth); backlog ~$12-14M.
Ends Q3 with cash $4.97M, up from $893K at YE2021; raised $4.01M in Oct 2022 PIPE.
Appointed Andrew Murphy as CFO effective Nov 15, succeeding Adrian Goldfarb (consulting role).
Operational: scanned 2M railcars in Q3 (+33% QoQ); 30 AI detection models deployed.

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 0.95

DUOS TECHNOLOGIES GROUP, INC. reported third quarter ended September 30, 2022 results: revenue $4.02 million, net income Net loss for Q3 2022 totaled $1.93 million. Guidance reaffirmed.

Period: third quarter ended September 30, 2022
Revenue: $4.02 million
Net income: Net loss for Q3 2022 totaled $1.93 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Duos Technologies Group Reports Third Quarter and Nine Month 2022 Results Third Quarter Results Highlighted by Revenue Increase to $4.02 Million, up 131% Year-Over-Year Reaffirmed Full Year 2022 Revenue Outlook of Between $16.5 Million and $18 Million, Representing an Increase of 99% to 117% Year-Over-Year

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DUOS TECHNOLOGIES GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001553350-22-000915

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