New Risk • May 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$75m free cash flow). Shareholders have been substantially diluted in the past year (151% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Announcement • May 19
Duos Technologies Group, Inc. Reaffirms Earnings Guidance for the Fiscal Year 2026 Duos Technologies Group, Inc. reaffirmed earnings guidance for the fiscal year 2026. For the year, the Company is reconfirming its expectation for total revenue in 2026 to exceed $50 million. Reported Earnings • May 18
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: US$0.15 loss per share. Revenue: US$2.72m (down 45% from 1Q 2025). Net loss: US$3.49m (loss widened 68% from 1Q 2025). Revenue missed analyst estimates by 72%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 44% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in the US. New Risk • May 17
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (151% increase in shares outstanding). Announcement • May 11
Duos Technologies Group, Inc. to Report Q1, 2026 Results on May 18, 2026 Duos Technologies Group, Inc. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on May 18, 2026 Announcement • Apr 16
Duos Technologies Group, Inc., Annual General Meeting, May 28, 2026 Duos Technologies Group, Inc., Annual General Meeting, May 28, 2026. Location: 7660 centurion parkway, suite 100, florida 32256, jacksonville United States Reported Earnings • Apr 04
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: US$0.64 loss per share (improved from US$1.39 loss in FY 2024). Revenue: US$27.0m (up 271% from FY 2024). Net loss: US$9.84m (loss narrowed 8.6% from FY 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 48%. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings have declined by 15% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (156% increase in shares outstanding). Announcement • Mar 26
Duos Technologies Group, Inc. to Report Q4, 2025 Results on Mar 31, 2026 Duos Technologies Group, Inc. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Mar 31, 2026 Announcement • Feb 28
Duos Technologies Group, Inc. Announces CEO Changes, Effective April 1, 2026 Duos Technologies Group, Inc. has signed a non-binding letter of intent (“LOI”) with Hydra Host to deploy a high-density NVIDIA GPU cluster for a leading global technology customer. Building on this milestone, Duos has appointed Doug Recker as Chief Executive Officer, effective April 1, 2026, as the Company accelerates its transformation into a focused Edge AI and digital infrastructure platform. Mr. Recker succeeds Chuck Ferry, who will continue to serve as a member of the board of directors. Mr. Recker will lead Duos’ next phase of growth focused on scaling modular EDCs, expanding GPU hosting capabilities, and executing a disciplined capacity expansion strategy. Under Mr. Recker’s leadership, Duos and its operating subsidiaries, including Duos Edge AI, Inc., are entering into a commercial partnership with Hydra Host to provide GPU hosting and GPU-as-a-Service solutions. The partnership includes structured hardware financing arrangements designed to accelerate deployment and support growing demand for distributed AI compute. New Risk • Feb 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (143% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Announcement • Nov 20
Duos Technologies Group, Inc. Announces CFO Changes, Effective November 15, 2025 On November 12, 2025, Duos Technologies Group, Inc. announced the retirement of Adrian Goldfarb as Chief Financial Officer effective November 15, 2025. Mr. Goldfarb will remain as a strategic advisor to the Company, reporting to Charles Ferry, Chief Executive Officer. The company also announced the appointment of Leah Brown as the new Chief Financial Officer, effective November 15, 2025. Ms. Brown has served as Senior Vice President of Accounting of the Company since January 2025. Her responsibilities have included the oversight of the accounting operations of New APR Energy, LLC, as well as those of the Company. Ms. Brown joined the Company as Controller in July 2022. From August 2020 to July 2022, Ms. Brown served as Controller of the Jacksonville Transportation Authority. Ms. Brown, age 55, has more than 30 years of industry experience, including 18 years in the transportation sector working with several companies, among them a Fortune 500 organization. She has held a variety of management roles that have honed her expertise in strategic financial leadership and is recognized for her ability to align financial strategy with corporate objectives, driving sustainable growth and shareholder value. Her extensive background spans accounting, finance, budgeting, program oversight, and organizational planning. She has a proven track record of leading process improvements, optimizing financial operations, and guiding cross-functional teams to deliver end-to-end solutions that enhance efficiency and profitability. Ms. Brown received her Bachelors of Business Administration (with a concentration in Finance) from Florida International University and her Masters in Business Administration (with a concentration in Finance) from the University of North Florida. Reported Earnings • Nov 16
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: US$0.051 loss per share (improved from US$0.18 loss in 3Q 2024). Revenue: US$6.88m (up 112% from 3Q 2024). Net loss: US$1.04m (loss narrowed 26% from 3Q 2024). Revenue missed analyst estimates by 5.8%. Earnings per share (EPS) exceeded analyst estimates by 50%. Revenue is forecast to grow 53% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings have declined by 16% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (152% increase in shares outstanding). Announcement • Nov 13
Duos Technologies Group, Inc. Provides Earnings Guidance for the Fiscal Year Ending December 31, 2025 Duos Technologies Group, Inc. provided earnings guidance for the fiscal year ending December 31, 2025. The Company expects total revenue for 2025 to range between $28 million and $30 million, representing an increase of 285% to 312% from 2024. Announcement • Nov 06
Duos Technologies Group, Inc. to Report Q3, 2025 Results on Nov 12, 2025 Duos Technologies Group, Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 12, 2025 Price Target Changed • Oct 07
Price target decreased by 8.0% to US$11.50 Down from US$12.50, the current price target is provided by 1 analyst. New target price is 43% above last closing price of US$8.06. Stock is up 152% over the past year. The company is forecast to post a net loss per share of US$0.46 next year compared to a net loss per share of US$1.39 last year. Major Estimate Revision • Sep 25
Consensus EPS estimates upgraded to US$0.46 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -US$0.52 to -US$0.46 per share. Revenue forecast unchanged from US$28.2m at last update. Software industry in the US expected to see average net income growth of 24% next year. Consensus price target up from US$12.50 to US$12.75. Share price was steady at US$7.73 over the past week. Announcement • Sep 16
Duos Technologies Group, Inc. Announces Executive Changes Duos Technologies Group, Inc. announced the appointment of Doug Recker as a Corporate Officer and President of the Company, reporting to Chuck Ferry, Duos’ CEO. Mr. Recker, a seasoned telecommunications and data center executive with over 30 years of experience, has been a driving force behind Duos’ expansion into the Edge Data Center and colocation markets through the Company’s Duos Edge AI subsidiary. In his new role, he will assume broader leadership responsibilities across the organization, leveraging his expertise to advance Duos’ strategy in Edge AI and digital infrastructure solutions. Doug will continue to oversee the design implementation and deployment of Duos Edge Data Centers, which will facilitate more robust connectivity and compute capabilities to underserved communities. Mr. Recker is recognized as a pioneer in the data center industry. He founded Edge Presence in 2017, later acquired by Ubiquity in 2023, and previously founded Colo5 Data Centers LLC, acquired by Cologix, Inc. in 2014. Throughout his career, he has been honored with multiple accolades, including Northeast Florida’s Ultimate CEO Award, recognition in Inc. 500’s fastest-growing companies, and the BizTech Innovations Best CEO Award. He also served in the United States Marine Corps, instilling a foundation of leadership and team building that continues to guide his career. This appointment reflects Duos’ commitment to strengthening its leadership team with proven industry veterans as the company executes its strategy to scale its Edge AI-powered digital infrastructure ecosystem and deliver long-term shareholder value. Also effective September 15, 2025, Christopher King resigned as Chief Operating Officer of the Company. Mr. King also has been serving as Chief Operating Officer of New APR. Mr. King will now focus solely on New APR. Announcement • Sep 11
Duos Technologies Group, Inc. Appoints Brian J. James to Its Board of Directors Duos Technologies Group, Inc. announced the appointment of Brian J. James to its Board of Directors. Mr. James is a proven entrepreneurial business leader with more than two decades of experience building, scaling, and advising companies across the fiber and data center industries. He has founded and led multiple organizations that have supported some of the worlds largest technology companies, including some of the magnificent 7, by delivering critical fiber, data center, and edge infrastructure solutions. Currently the President of NAT Tech LLC dba National Technologies (NTI), Mr. James has a strong track record of taking startups to multimillion-dollar enterprises by meeting the growing demands of hyperscale customers and building long-term relationships across the digital infrastructure ecosystem. He has also held board roles at leading companies in fiber and edge data center deployment, including EdgePresence and Hylan Electric, and continues to advise and invest in innovative connectivity and broadband providers. Mr. James appointment reflects Duos continued commitment to strengthening its leadership team with proven industry executives who can support the Company's long-term growth strategy across AI, Edge Data Centers, and digital infrastructure solutions. Announcement • Aug 16
Duos Technologies Group, Inc. Reiterates Earnings Guidance for the Fiscal Year Ending December 31, 2025 Duos Technologies Group, Inc. reiterated earnings guidance for the fiscal year ending December 31, 2025. For the year, the company expects total revenue for 2025 to range between $28 million and $30 million, representing an increase of 285% to 312% from 2024. Duos expects this improvement in operating results to be reflected over the course of the full year in 2025. Reported Earnings • Aug 15
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: US$0.30 loss per share. Revenue: US$5.74m (up 280% from 2Q 2024). Net loss: US$3.52m (loss widened 9.8% from 2Q 2024). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) missed analyst estimates by 40%. Revenue is forecast to grow 57% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in the US. Announcement • Aug 07
Duos Technologies Group, Inc. to Report Q2, 2025 Results on Aug 14, 2025 Duos Technologies Group, Inc. announced that they will report Q2, 2025 results on Aug 14, 2025 Announcement • Aug 01
Duos Technologies Group, Inc. has completed a Follow-on Equity Offering in the amount of $40.000002 million. Duos Technologies Group, Inc. has completed a Follow-on Equity Offering in the amount of $40.000002 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 6,666,667
Price\Range: $6
Discount Per Security: $0.42 Price Target Changed • Jun 16
Price target increased by 8.7% to US$12.50 Up from US$11.50, the current price target is an average from 2 analysts. New target price is 61% above last closing price of US$7.78. Stock is up 164% over the past year. The company is forecast to post a net loss per share of US$0.66 next year compared to a net loss per share of US$1.39 last year. Recent Insider Transactions • May 29
Chief Financial Officer recently sold US$72k worth of stock On the 23rd of May, Adrian Goldfarb sold around 9k shares on-market at roughly US$7.77 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Adrian has been a net seller over the last 12 months, reducing personal holdings by US$82k. Recent Insider Transactions Derivative • May 20
Chief Financial Officer notifies of intention to sell stock Adrian Goldfarb intends to sell 11k shares in the next 90 days after lodging an Intent To Sell Form on the 19th of May. If the sale is conducted around the recent share price of US$8.30, it would amount to US$88k. Since June 2024, Adrian's direct individual holding has increased from 10.59k shares to 452.34k. There has only been one transaction (US$10k purchase) from insiders over the last 12 months. Reported Earnings • May 16
First quarter 2025 earnings released First quarter 2025 results: Net income: (up US$2.75m from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. New Risk • May 16
New major risk - Revenue and earnings growth Earnings have declined by 19% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 19% per year over the past 5 years. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$5.6m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$85.0m market cap). Announcement • May 16
Duos Technologies Group, Inc. Reiterates Revenue Guidance for the Fiscal Year Ending December 31, 2025 Duos Technologies Group, Inc. reiterated revenue guidance for the fiscal year ending December 31, 2025. Based on these committed contracts and near-term pending orders that are already performing or scheduled to be executed throughout the course of 2025, the Company is reiterating its previously stated revenue expectations for the fiscal year ending December 31, 2025. The Company expects total revenue for 2025 to range between $28 million and $30 million, representing an increase of 285% to 312% from 2024. Announcement • May 06
Duos Technologies Group, Inc. to Report Q1, 2025 Results on May 15, 2025 Duos Technologies Group, Inc. announced that they will report Q1, 2025 results on May 15, 2025 New Risk • Apr 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (US$51.5m market cap). Announcement • Apr 11
Duos Technologies Group, Inc. Announces Resignation of Kenneth Ehrman as Chairman and Director Duos Technologies Group, Inc. announced that Kenneth Ehrman resigned as Chairman and as a director . In submitting his resignation, Mr. Ehrman did not express any disagreement with the Company in any matter relating to the Company’s operations, policies or practices. Mr. Ehrman joined the Board of Directors in January 2019 and has served as Chairman since November 2020. He was Chair of the Corporate Governance and Nominating Committee and a member of the Compensation Committee. Reported Earnings • Apr 01
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: US$1.39 loss per share (improved from US$1.56 loss in FY 2023). Revenue: US$7.28m (down 2.5% from FY 2023). Net loss: US$10.8m (loss narrowed 4.2% from FY 2023). Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 9.0%. Revenue is forecast to grow 74% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year. Announcement • Mar 24
Duos Technologies Group, Inc. to Report Q4, 2024 Results on Mar 31, 2025 Duos Technologies Group, Inc. announced that they will report Q4, 2024 results on Mar 31, 2025 Breakeven Date Change • Feb 14
Forecast to breakeven in 2026 The 2 analysts covering Duos Technologies Group expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 44% per year to 2025. The company is expected to make a profit of US$2.90m in 2026. Average annual earnings growth of 90% is required to achieve expected profit on schedule. Announcement • Jan 07
Duos Technologies Group, Inc. Appoints Christopher King as Chief Operating Officer Effective January 1, 2025, Duos Technologies Group, Inc. appointed Christopher King as Chief Operating Officer. Mr. King was Chief Operating Officer of Duos Technologies, Inc., a subsidiary of the Company (“Duos”), and had been employed by Duos since September 2023. He brings over 20 years of operational and commercial leadership experience within the energy and supply chain sectors. Prior to joining Duos, he served in a series of progressive management roles within APR, a global fast track power company. During Mr. King’s time at APR, his responsibilities included: leading all power plant operations, which consisted of 16 sites around the world and over 500 employees; managing acquisition integrations of over $300 million in new projects; maintaining full P&L accountability for all operations; and building and heading up a team that closed over $1 billion in new revenue, asset sales, and contract extensions. Prior to his time at APR, Mr. King held several operational leadership roles at CEVA Logistics, including a role as Lean Six Sigma Leader in charge of designing and executing continuous improvement projects for CEVA operations across the world. Mr. King holds a bachelor’s degree in international economics from the University of Florida, and a master's degree in International Business from the University of Florida. Announcement • Nov 15
Duos Technologies Group, Inc. announced delayed 10-Q filing On 11/14/2024, Duos Technologies Group, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Nov 12
Duos Technologies Group, Inc. to Report Q3, 2024 Results on Nov 20, 2024 Duos Technologies Group, Inc. announced that they will report Q3, 2024 results on Nov 20, 2024 Major Estimate Revision • Aug 20
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$14.6m to US$12.2m. Forecast losses increased from -US$0.89 to -US$1.09 per share. Software industry in the US expected to see average net income growth of 16% next year. Consensus price target of US$5.63 unchanged from last update. Share price rose 4.0% to US$2.60 over the past week. New Risk • Aug 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$12m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$12m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$5.1m net loss next year). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Market cap is less than US$100m (US$18.3m market cap). Reported Earnings • Aug 15
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: US$0.43 loss per share (further deteriorated from US$0.42 loss in 2Q 2023). Revenue: US$1.51m (down 15% from 2Q 2023). Net loss: US$3.20m (loss widened 7.2% from 2Q 2023). Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) missed analyst estimates by 30%. Revenue is forecast to grow 68% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Aug 01
Duos Technologies Group, Inc., Annual General Meeting, Sep 30, 2024 Duos Technologies Group, Inc., Annual General Meeting, Sep 30, 2024. Location: 7660 centurion parkway, suite 100, florida 32256, jacksonville United States Announcement • Jul 31
Duos Technologies Group, Inc. to Report Q2, 2024 Results on Aug 13, 2024 Duos Technologies Group, Inc. announced that they will report Q2, 2024 results on Aug 13, 2024 Announcement • Jun 21
Duos Technologies Group, Inc. Appoints Doug Recker as the President of A Subsidiary, Duos Edge Ai Inc., Effective July 15, 2024 Duos Technologies Group, Inc. announced that Doug Recker, an IT veteran and former marine, has been appointed as the President of a new subsidiary, Duos Edge AI Inc., effective July 15, 2024. Mr. Recker spoke briefly about his views on the large opportunity for Duos including the provision of Edge Data Centers to remote districts, including schools and health facilities. This venture will leverage Duos' AI processing expertise to drive innovation and efficiency in various sectors. Mr. Recker, with over 30 years of experience in telecommunications and data centers, will lead the subsidiary's efforts to deliver high-speed connectivity and compute power to underserved areas. Major Estimate Revision • Jun 09
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$16.2m to US$14.5m. Forecast losses increased from -US$0.89 to -US$0.90 per share. Software industry in the US expected to see average net income growth of 21% next year. Consensus price target broadly unchanged at US$6.38. Share price rose 7.1% to US$2.57 over the past week. New Risk • May 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (US$5.6m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Market cap is less than US$100m (US$16.9m market cap). Announcement • May 19
Duos Technologies Group, Inc. has filed a Follow-on Equity Offering in the amount of $7.5 million. Duos Technologies Group, Inc. has filed a Follow-on Equity Offering in the amount of $7.5 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • May 15
First quarter 2024 earnings: EPS in line with expectations, revenues disappoint First quarter 2024 results: US$0.38 loss per share (further deteriorated from US$0.30 loss in 1Q 2023). Revenue: US$1.07m (down 60% from 1Q 2023). Net loss: US$2.75m (loss widened 28% from 1Q 2023). Revenue is forecast to grow 69% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Announcement • May 15
Duos Technologies Group, Inc. Provides Revenue Guidance for the Second Quarter of 2024 Duos Technologies Group, Inc. provided revenue guidance for the second quarter of 2024. For the period, the company expects revenues in the second quarter of 2024 to be in-line with the first quarter of 2024 before ramping up in the latter half of the year. Announcement • May 08
Duos Technologies Group, Inc. to Report Q1, 2024 Results on May 13, 2024 Duos Technologies Group, Inc. announced that they will report Q1, 2024 results on May 13, 2024 Announcement • May 03
Duos Technologies Group, Inc. Announces Chief Financial Officer Changes Duos Technologies Group, Inc. (Duos) announced the re-appointment of Adrian Goldfarb as Chief Financial Officer, effective April 29, 2024, following the departure of Andrew Murphy who has been recruited by another company to serve as their CFO. Mr. Murphy served as Duos’ CFO since November 2022 and was instrumental in the development of the finance team to support senior management in preparation for an expected growth in business. Adrian Goldfarb, as returning CFO, brings a wealth of experience and a deep understanding of Duos' operations and financial landscape. Goldfarb's tenure with Duos dates back over a decade, during which he has played a pivotal role in shaping the Company's financial strategies working closely with the investment community. Major Estimate Revision • May 02
Consensus EPS estimates upgraded to US$0.89 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$16.4m to US$16.2m. 2024 losses expected to reduce from -US$1.00 to -US$0.89 per share. Software industry in the US expected to see average net income growth of 20% next year. Consensus price target down from US$6.75 to US$6.50. Share price fell 2.5% to US$3.08 over the past week. Major Estimate Revision • Apr 08
Consensus EPS estimates fall by 68% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$17.9m to US$16.4m. Losses expected to increase from US$0.59 per share to US$1.00. Software industry in the US expected to see average net income growth of 21% next year. Consensus price target of US$6.75 unchanged from last update. Share price fell 16% to US$3.29 over the past week. Reported Earnings • Apr 02
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: US$1.56 loss per share (further deteriorated from US$1.11 loss in FY 2022). Revenue: US$7.47m (down 50% from FY 2022). Net loss: US$11.2m (loss widened 64% from FY 2022). Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 60% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. New Risk • Mar 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (US$35.8m market cap). Announcement • Mar 19
Duos Technologies Group, Inc. to Report Q4, 2023 Results on Apr 01, 2024 Duos Technologies Group, Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Apr 01, 2024 New Risk • Feb 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (US$28.6m market cap). Major Estimate Revision • Dec 19
Consensus revenue estimates increase by 18% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from US$7.55m to US$8.92m. Forecast losses expected to reduce from -US$1.43 to -US$1.37 per share. Software industry in the US expected to see average net income growth of 15% next year. Consensus price target down from US$7.63 to US$6.75. Share price fell 2.7% to US$2.90 over the past week. Announcement • Nov 18
Duos Technologies Group, Inc. announced that it has received $2.5 million in funding On November 16, 2023, Duos Technologies Group, Inc closed the transaction. The transaction included participation from two investors. Breakeven Date Change • Nov 18
Forecast to breakeven in 2025 The 2 analysts covering Duos Technologies Group expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 19% per year to 2024. The company is expected to make a profit of US$1.79m in 2025. Average annual earnings growth of 76% is required to achieve expected profit on schedule. Price Target Changed • Nov 17
Price target decreased by 18% to US$7.63 Down from US$9.25, the current price target is an average from 2 analysts. New target price is 144% above last closing price of US$3.12. Stock is up 11% over the past year. The company is forecast to post a net loss per share of US$1.07 next year compared to a net loss per share of US$1.11 last year. Announcement • Nov 01
Duos Technologies Group, Inc. to Report Q3, 2023 Results on Nov 14, 2023 Duos Technologies Group, Inc. announced that they will report Q3, 2023 results on Nov 14, 2023 Major Estimate Revision • Aug 21
Consensus revenue estimates fall by 20% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$20.1m to US$16.1m. Forecast losses increased from -US$0.695 to -US$1.18 per share. Software industry in the US expected to see average net income growth of 15% next year. Consensus price target of US$9.25 unchanged from last update. Share price fell 13% to US$4.88 over the past week. Reported Earnings • Aug 16
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: US$0.42 loss per share (further deteriorated from US$0.22 loss in 2Q 2022). Revenue: US$1.77m (down 51% from 2Q 2022). Net loss: US$2.99m (loss widened 123% from 2Q 2022). Revenue missed analyst estimates by 33%. Earnings per share (EPS) also missed analyst estimates by 83%. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Aug 04
Duos Technologies Group, Inc. announced that it has received $5 million in funding On August 2, 2023, Duos Technologies Group, Inc. closed the transaction. Announcement • Aug 01
Duos Technologies Group, Inc. to Report Q2, 2023 Results on Aug 14, 2023 Duos Technologies Group, Inc. announced that they will report Q2, 2023 results on Aug 14, 2023 Announcement • Jul 22
Duos Technologies Group Inc. Appoints Frank Lonegro to Board of Directors Duos Technologies Group Inc., through its operating subsidiary Duos Technologies, Inc. appointed rail industry veteran Frank Lonegro to its Board of Directors. With a 30-year professional career spanning leadership roles in finance, law, technology and operations, Mr. Lonegro enjoyed a long and distinguished career at CSX Corporation starting in 2000 as Assistant General Counsel and serving in various senior executive roles including Chief Financial Officer from 2015 to 2019. He currently serves as the Chief Financial Officer for Beacon Roofing Supply, a Fortune 500 distributor of roofing materials and complementary building products such as siding and waterproofing. Mr. Lonegro will serve as an independent Director of Duos, replacing Ed Harris who served on Duos Board until November 2022. His addition to the Duos Board brings the board composition back to five total directors, four of whom are independent. During his tenure at CSX, Mr. Lonegro was a prominent advocate for rail safety. He led CSX’s Positive Train Control initiative from 2008 to 2015, and represented the industry in several Congressional and regulatory hearings. Mr. Lonegro has a proven track record of driving shareholder value, spearheading major initiatives, navigating complex environments and transforming organizations. His depth of experience will contribute significantly to the Duos Board. Announcement • Jun 30
Duos Technologies Group, Inc. Provides Revenue Guidance for the Second Quarter and Six Months Ending June 30, 2023 Duos Technologies Group, Inc. provided revenue guidance for the second quarter and six months ending June 30, 2023. The company expects total revenue for the second quarter of 2023 to be between $1.8 million and $2.1 million. The decrease is due to certain timing factors primarily related to the booking of revenue versus costs. Based on preliminary second-quarter results, the company expects total revenue for the six months ended June 30, 2023 to be approximately $4.5 million. Price Target Changed • Jun 03
Price target increased by 23% to US$9.25 Up from US$7.50, the current price target is an average from 2 analysts. New target price is 67% above last closing price of US$5.54. Stock is up 31% over the past year. The company is forecast to post a net loss per share of US$0.69 next year compared to a net loss per share of US$1.11 last year. Major Estimate Revision • May 22
Consensus EPS estimates fall by 17% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -US$0.625 to -US$0.73 per share. Revenue forecast unchanged at US$20.1m. Software industry in the US expected to see average net income growth of 11% next year. Consensus price target of US$7.63 unchanged from last update. Share price rose 18% to US$4.54 over the past week. Reported Earnings • May 17
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: US$0.30 loss per share (improved from US$0.49 loss in 1Q 2022). Revenue: US$2.64m (up 84% from 1Q 2022). Net loss: US$2.14m (loss narrowed 19% from 1Q 2022). Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) missed analyst estimates by 1.7%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Feb 08
Duos Technologies Group, Inc. Provides Revenue Guidance for the Year 2023 Duos Technologies Group, Inc. provided revenue guidance for the year 2023. For the year, the company expects revenue guidance set between $20.0 million and $21.0 million. Announcement • Jan 04
Duos Technologies Group, Inc. Announces Retirement of Connie L. Weeks as Chief Accounting Officer On December 31, 2022, Connie L. Weeks retired as Chief Accounting Officer of Duos Technologies Group, Inc. (the “Company”). Ms. Weeks had been a key member of the Company for 35 years. Announcement • Nov 17
Duos Technologies Group, Inc. Provides Earnings Guidance for the Full Year of 2022 Duos Technologies Group, Inc. provided earnings guidance for the full year of 2022. The company expects total revenue for 2022 to range between 16.5 and $18 million, representing an increase of 99% to 117% from 2021. The company expects this improvement in operating results to be reflected over the course of the full year, with the majority of the revenues coming in the second half of the year. As a result of the third quarter's performance, expects a further revenue increase substantially in the fourth quarter. Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$0.30 loss per share (improved from US$0.68 loss in 3Q 2021). Revenue: US$4.02m (up 131% from 3Q 2021). Net loss: US$1.93m (loss narrowed 21% from 3Q 2021). Revenue missed analyst estimates by 31%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Nov 15
Duos Technologies Group, Inc Appoints Andrew Murphy as Chief Financial Officer, Effective November 15, 2022 Duos Technologies Group, Inc. announced the appointment of Andrew Murphy, formerly Company Vice President of Finance, as its new Chief Financial Officer, effective November 15. In conjunction with the Company's succession plan, former CFO Adrian Goldfarb will remain with Duos in a consulting capacity to ensure a smooth transition process and will take on a new position within Duos' newly formed Industry Advisory Group. Murphy will be taking on the CFO role after joining Duos in 2020 to support commercial and financial objectives. He initially served on the commercial team to support new project bids while also further building out the Company's corporate finance strategy. Murphy has over 16 years of accounting and finance experience including spending nearly five years working in the finance and investor relations teams during APR Energy's time listed on the London Stock Exchange. Prior to joining Duos, Murphy held progressively senior finance roles within APR Energy in which he oversaw the pricing & risk management efforts for more than $800 million in new business as well as asset transactions across the globe. Prior to his time with APR, Murphy held roles in corporate accounting as well as public accounting with a focus on tax and business services. 