Here are 1-2 brief analogies for Duos Technologies:

• Cognex for the rail industry.

• Palantir for railway infrastructure data analytics and inspection.

• truescan™ Railcar Inspection Systems: These are AI-powered intelligent vision systems designed to automate comprehensive safety, maintenance, and security inspections for freight and passenger railcars.
• Intelligent Infrastructure Inspection Systems: Leveraging advanced AI and machine vision technologies, these systems provide automated monitoring and inspection solutions for various critical infrastructure assets beyond rail.

Duos Technologies (DUOT) primarily sells its advanced technology solutions to other companies (B2B), focusing on the rail and critical infrastructure industries. While specific customer names are often subject to confidentiality agreements, their major customers are typically large organizations within the following categories:

• Class I Freight Railroads: These are the largest freight railroad companies in North America and represent a significant portion of Duos Technologies' customer base. Duos often announces contracts with "a major Class I railroad" without naming the specific entity. The public companies that fall into this category and are potential or known clients within the industry include:

  • Union Pacific Corporation (NYSE: UNP)
  • CSX Corporation (NASDAQ: CSX)
  • Norfolk Southern Corporation (NYSE: NSC)
  • Canadian National Railway Company (NYSE: CNI)
  • Canadian Pacific Kansas City Limited (NYSE: CP)

• Passenger Railroads and Transit Authorities: Duos Technologies also serves entities responsible for public transportation systems, providing safety and security solutions. These are often government agencies or public authorities (e.g., Amtrak, MTA, Metra) and typically do not have public stock symbols.

• Ports and Intermodal Facilities: The company provides solutions for security and operational efficiency in large logistics hubs. These are often operated by public authorities or private companies without public stock symbols.

Charles (Chuck) Ferry, Chief Executive Officer
Mr. Ferry was appointed Chief Executive Officer of Duos Technologies effective September 1, 2020. He possesses over 35 years of military and private-sector leadership experience. Prior to joining Duos, he served as CEO for APR Energy from 2018 to 2020 and as COO/President from 2016 to 2018, leading a global fast-track power company. He was also General Manager/VP at ARMA Global Corporation from 2010 to 2016, where he significantly grew the company's revenue and employee base. After retiring from 26 years of active duty in the U.S. Army, where he commanded Infantry, Ranger, and Special Operations Units in combat, he became an original Partner at McChrystal Group. In 2013, he became CEO of ACADEMI and, through organic growth and acquisitions, built Constellis Group, tripling its revenue to over $1 billion annually.

Adrian Goldfarb, Chief Financial Officer
Mr. Goldfarb was re-appointed as Chief Financial Officer of Duos Technologies Group, Inc. effective April 29, 2024. He has over 40 years of business experience in technology companies, including more than 15 years as a CFO for public companies. He previously served as Duos' CFO from April 2015 until November 2022. Mr. Goldfarb managed the company's listing on the Nasdaq Capital Market in 2020. Prior to Duos, he was CFO for Ecosphere Technologies, overseeing revenue growth from $0 to $24 million. He also served as Managing Director of WSI Europe, a division of the Weather Channel, and as interim-CFO for MOWIS GmbH, a weather technology media start-up that was successfully sold to a large European media group.

Doug Recker, President of Duos Edge AI
Mr. Recker is a telecommunications industry veteran with over 30 years of experience in multi-access Edge Data Center (EDC) and colocation services. He founded Edge Presence in 2017, which was subsequently sold to Ubiquity in 2023. Earlier, he founded Colo5 Data Centers LLC, which was acquired by Cologix, Inc. in 2014.

Jeff Necciai, Chief Technology Officer
Mr. Necciai brings nearly 30 years of experience in designing, developing, and delivering value-driven technology solutions across diverse industries. Before joining Duos, he served as the Chief Technology Officer of NASCENT Technology, where he led product teams in developing comprehensive gate automation solutions for rail and maritime terminal customers.

Chris King, Chief Operations Officer
Mr. King has over 20 years of operational and commercial leadership experience within the energy and supply chain sectors. Before joining Duos, he held progressively senior management roles at APR Energy, a global fast-track power company, where his responsibilities included leading power plant operations and managing acquisition integrations.

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1. Expansion of Edge Data Centers (EDCs): Duos is rapidly expanding its Edge Data Center business, Duos Edge AI. The company plans to install 15 standalone EDCs in Texas by the end of 2025 and aims for at least 65 by the end of 2026, with a longer-term goal of 150-200 EDCs by 2027. This segment is expected to generate significant annual recurring revenue (ARR), with projections ranging from over $3 million to $65 million by 2028. The modular and scalable nature of these EDCs allows for fast deployment in underserved and high-growth markets, providing high-powered, low-latency infrastructure for various sectors including education, healthcare, and rural industries.
2. Asset Management Agreement (AMA) with New APR Energy: A significant driver of recent and future revenue growth is the asset management agreement with New APR Energy. This 2-year contract is expected to add around $21 million of new revenue per year. Duos Energy oversees the deployment and operations of mobile gas turbines under this agreement, providing management, sales, and operational support services, which has substantially increased the company's revenue and improved gross margins. For example, this agreement contributed approximately $5.69 million in recurring services and consulting revenue for Q2 2025.
3. Growth in Railcar Inspection Portal (RIP) Business and Technology Systems: While the railcar inspection portal business has been largely flat, Duos anticipates better performance from its technology systems revenue line. The company's proprietary Railcar Inspection Portal (RIP) provides automated inspection of trains moving at full speed for freight and transit railroads. There is an anticipated expansion in this segment, with ongoing projects and expected near-term awards and renewals.
4. Strategic Pivot Towards Recurring Revenue and Diversified Markets: Duos Technologies has undergone a fundamental transformation in its business model, moving to diversified technology markets, particularly energy asset management and Edge Data Centers, which offer high growth potential. This strategic pivot emphasizes building a strong recurring revenue business, especially within the Duos Edge AI subsidiary, where all revenue is annual recurring revenue. This shift aims to stabilize financials and support a movement towards profitability.

Share Issuance

• Duos Technologies completed an upsized and oversubscribed public offering in July 2025, issuing 6,666,667 shares at $6.00 per share to raise approximately $40 million.
• The offering included a 30-day option for underwriters to purchase up to an additional 838,851 shares to cover over-allotments.
• This issuance provided crucial growth capital, fully funding a $50 million pipeline and supporting the development of 65 new Edge Data Centers.

Inbound Investments

• In July 2025, Duos Technologies received approximately $40 million from an oversubscribed public offering, with significant participation from fundamental institutional investors, including a leading long-only mutual fund and global investment managers.
• In late 2024, Duos acquired a 5% non-voting equity interest, initially valued at approximately $7.2 million, in the ultimate parent of New APR, an entity formed and owned by Fortress Investment Group.
• An Asset Management Agreement (AMA) with New APR, which became effective January 1, 2025, is expected to generate $42 million in revenue for Duos over a 24-month period.

Capital Expenditures

• Approximately $40 million from the July 2025 public offering is allocated to expand, accelerate, and commercialize the Company's Edge Data Center (EDC) business.
• The company plans to develop and deploy over 65 additional Edge Data Centers as part of its Stage 2 EDC strategy.
• Management anticipates installing a total of 150 Edge Data Center units over the 18 months following November 2025.