Duos Technologies Group ( (DUOT) ) has shared an update.
Duos Technologies Group reported its financial results for the fourth quarter and full year of 2024, highlighting a transformative year with the addition of two new business lines and a significant contract with New APR Energy and Fortress Investment Group valued at up to $42 million. Despite a decrease in total revenue for Q4 2024 by 4% compared to Q4 2023, the company saw a 9% increase in recurring services and consulting revenue. The company also faced a net loss of $3.41 million for Q4 2024, attributed to higher interest costs related to acquisitions. However, Duos strengthened its balance sheet with increased cash equivalents and inventory, and anticipates continued growth in service revenue supported by a growing backlog and new technology systems expected in 2025.
More about Duos Technologies Group
Duos Technologies Group, Inc. operates in the technology sector, offering machine vision and artificial intelligence solutions for analyzing fast-moving vehicles, as well as Edge Data Centers and power solutions. The company focuses on markets such as data centers and power management, enhancing its capabilities in these areas.
YTD Price Performance: -26.58%
Average Trading Volume: 133,519
Technical Sentiment Signal: Sell
Current Market Cap: $47.44M
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