Duos Technologies (DUOT)
Market Price (11/9/2026): $5.015 | Market Cap: $157.8 MilSector: Information Technology | Industry: Application Software
Duos Technologies (DUOT)
Market Price (11/9/2026): $5.015Market Cap: $157.8 MilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 27%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 21% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -74% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 75% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -50% Megatrend and thematic driversMegatrends include Autonomous Technologies, Artificial Intelligence, and Future of Freight. Themes include Machine Vision, Show more. | Weak multi-year price returns2Y Excs Rtn is -13%, 3Y Excs Rtn is -14% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 19% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -8.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -32% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -349% Key risksDUOT key risks include [1] significant financial instability and a high risk of bankruptcy, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 27%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 21% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -74% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 75% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -50% |
| Megatrend and thematic driversMegatrends include Autonomous Technologies, Artificial Intelligence, and Future of Freight. Themes include Machine Vision, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -13%, 3Y Excs Rtn is -14% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 19% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -8.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -32% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -349% |
| Key risksDUOT key risks include [1] significant financial instability and a high risk of bankruptcy, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Duos Technologies (DUOT) stock has lost about 40% since 7/31/2026 because of the following key factors:
1. Significant Fiscal Q2 2026 Adjusted EPS Miss: Duos Technologies reported a substantial miss on its adjusted earnings per share (EPS) for fiscal Q2 2026, which ended June 30, 2026. The company posted a loss of $0.15 per share, significantly underperforming the consensus analyst estimate of $0.6732 per share, resulting in a negative surprise of 122.28%. While the company also reported a net income before taxes of $53.64 million for the quarter, largely attributed to the sale of assets, the adjusted EPS miss likely weighed heavily on investor sentiment.
2. Multiple Analyst Downgrades and Price Target Reductions: The period since July 31, 2026, was marked by several negative revisions from investment analysts. In October 2026, both Wall Street Zen and Weiss Ratings downgraded Duos Technologies from "hold" to "sell." Concurrently, Chardan Capital initiated coverage with a "neutral" rating and a price target of $9.50. Furthermore, Cantor Fitzgerald, which had initiated coverage with an "Overweight" rating and a $26 price target on July 31, 2026, later revised its price target down to $24.00 by October 16, 2026.
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Duos Technologies (DUOT) stock has lost about 40% since 7/31/2026 because of the following key factors:
1. Significant Fiscal Q2 2026 Adjusted EPS Miss: Duos Technologies reported a substantial miss on its adjusted earnings per share (EPS) for fiscal Q2 2026, which ended June 30, 2026. The company posted a loss of $0.15 per share, significantly underperforming the consensus analyst estimate of $0.6732 per share, resulting in a negative surprise of 122.28%. While the company also reported a net income before taxes of $53.64 million for the quarter, largely attributed to the sale of assets, the adjusted EPS miss likely weighed heavily on investor sentiment.
2. Multiple Analyst Downgrades and Price Target Reductions: The period since July 31, 2026, was marked by several negative revisions from investment analysts. In October 2026, both Wall Street Zen and Weiss Ratings downgraded Duos Technologies from "hold" to "sell." Concurrently, Chardan Capital initiated coverage with a "neutral" rating and a price target of $9.50. Furthermore, Cantor Fitzgerald, which had initiated coverage with an "Overweight" rating and a $26 price target on July 31, 2026, later revised its price target down to $24.00 by October 16, 2026.
3. Perceived Risks and Uncertainty in Business Model Transition: Despite Duos Technologies' strategic pivot to become a pure-play AI colocation and edge data center provider, concerns arose regarding the new operating model. Analysts highlighted potential vulnerabilities such as margin compression, scalability limitations due to capacity constraints, intense competition, and increased dependence on external capital and OEM relationships. These factors contributed to uncertainty about the company's financial stability and growth trajectory, potentially leading to increased earnings volatility.
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Stock Movement Drivers
Fundamental Drivers
The -41.7% change in DUOT stock from 7/31/2026 to 11/8/2026 was primarily driven by a -29.7% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.61 | 5.02 | -41.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 24 | 25 | 5.9% |
| P/S Multiple | 8.5 | 6.0 | -29.7% |
| Shares Outstanding (Mil) | 24 | 30 | -21.6% |
| Cumulative Contribution | -41.7% |
Market Drivers
7/31/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| DUOT | -41.7% | |
| Market (SPY) | -1.6% | 44.5% |
| Sector (XLK) | -6.1% | 55.9% |
Fundamental Drivers
The -43.0% change in DUOT stock from 4/30/2026 to 11/8/2026 was primarily driven by a -32.2% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.80 | 5.02 | -43.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 26 | 25 | -3.2% |
| P/S Multiple | 6.9 | 6.0 | -13.2% |
| Shares Outstanding (Mil) | 20 | 30 | -32.2% |
| Cumulative Contribution | -43.0% |
Market Drivers
4/30/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| DUOT | -43.0% | |
| Market (SPY) | 2.6% | 42.1% |
| Sector (XLK) | 3.4% | 54.5% |
Fundamental Drivers
The -51.5% change in DUOT stock from 10/31/2025 to 11/8/2026 was primarily driven by a -60.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 10312025 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.35 | 5.02 | -51.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14 | 25 | 75.0% |
| P/S Multiple | 8.5 | 6.0 | -29.5% |
| Shares Outstanding (Mil) | 12 | 30 | -60.7% |
| Cumulative Contribution | -51.5% |
Market Drivers
10/31/2025 to 11/8/2026| Return | Correlation | |
|---|---|---|
| DUOT | -51.5% | |
| Market (SPY) | 8.7% | 43.0% |
| Sector (XLK) | 10.0% | 54.0% |
Fundamental Drivers
The 55.9% change in DUOT stock from 10/31/2023 to 11/8/2026 was primarily driven by a 273.3% change in the company's P/S Multiple.| (LTM values as of) | 10312023 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.22 | 5.02 | 55.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14 | 25 | 75.6% |
| P/S Multiple | 1.6 | 6.0 | 273.3% |
| Shares Outstanding (Mil) | 7 | 30 | -76.2% |
| Cumulative Contribution | 55.9% |
Market Drivers
10/31/2023 to 11/8/2026| Return | Correlation | |
|---|---|---|
| DUOT | 55.9% | |
| Market (SPY) | 81.9% | 29.5% |
| Sector (XLK) | 104.5% | 34.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DUOT Return | 21% | -61% | 45% | 106% | 88% | -55% | 18% |
| Peers Return | 21% | -16% | 4% | 16% | 6% | 8% | 41% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| DUOT Win Rate | 50% | 42% | 50% | 67% | 58% | 27% | |
| Peers Win Rate | 68% | 40% | 45% | 58% | 52% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| DUOT Max Drawdown | -63% | -70% | -59% | -58% | -47% | -68% | |
| Peers Max Drawdown | -15% | -33% | -25% | -19% | -26% | -30% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TRMB, CGNX, MSI, HON, LHX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)
How Low Can It Go
| Event | DUOT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -38.5% | -18.8% |
| % Gain to Breakeven | 62.6% | 23.1% |
| Time to Breakeven | 20 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.5% | -7.8% |
| % Gain to Breakeven | 16.9% | 8.5% |
| Time to Breakeven | 53 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -50.4% | -9.5% |
| % Gain to Breakeven | 101.7% | 10.5% |
| Time to Breakeven | 386 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -38.6% | -6.7% |
| % Gain to Breakeven | 62.8% | 7.1% |
| Time to Breakeven | 24 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -39.2% | -24.5% |
| % Gain to Breakeven | 64.5% | 32.4% |
| Time to Breakeven | 281 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.2% | -33.7% |
| % Gain to Breakeven | 59.2% | 50.9% |
| Time to Breakeven | 332 days | 140 days |
In The Past
Duos Technologies's stock fell -38.5% during the 2025 US Tariff Shock. Such a loss loss requires a 62.6% gain to breakeven.
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Asset Allocation
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| Event | DUOT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -38.5% | -18.8% |
| % Gain to Breakeven | 62.6% | 23.1% |
| Time to Breakeven | 20 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -50.4% | -9.5% |
| % Gain to Breakeven | 101.7% | 10.5% |
| Time to Breakeven | 386 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -38.6% | -6.7% |
| % Gain to Breakeven | 62.8% | 7.1% |
| Time to Breakeven | 24 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -39.2% | -24.5% |
| % Gain to Breakeven | 64.5% | 32.4% |
| Time to Breakeven | 281 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.2% | -33.7% |
| % Gain to Breakeven | 59.2% | 50.9% |
| Time to Breakeven | 332 days | 140 days |
In The Past
Duos Technologies's stock fell -38.5% during the 2025 US Tariff Shock. Such a loss loss requires a 62.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Duos Technologies (DUOT)
Duos Technologies Group, Inc. (DUOT) is an intelligent technology solutions provider operating in North America. The company specializes in designing, developing, deploying, and operating advanced systems that leverage artificial intelligence (AI), including machine learning, computer vision, object detection, and deep neural networks, for real-time applications. Its foundational technology platforms, centraco and truevue360, are crucial for enterprise information management and the development and deployment of these sophisticated AI algorithms.
DUOT's core products include proprietary applications designed to automate and enhance critical operations, particularly within the railway industry. Key offerings such as the Railcar Inspection Portal and Vehicle Undercarriage Examiner enable automated, in-motion inspection of freight and transit trains. Other specialized systems include a Thermal Undercarriage Examiner, an Enterprise Command and Control Suite for information consolidation, and Automated Logistics Information Systems for streamlining security gate operations. The company also provides IT asset management services for data centers, along with maintenance, consulting, and software licensing.
Serving clients predominantly in North America, Duos Technologies targets industries that demand high-precision, real-time intelligence for operational efficiency and security. Its primary customers are found within the railway sector, where its automated inspection systems are vital for safety and maintenance, and extend to the logistics and security industries for automated gate operations, as well as data center operators seeking IT asset management solutions. DUOT's comprehensive suite of intelligent technology aims to improve safety, automate complex inspections, and enhance operational oversight across these critical sectors.
AI Analysis | Feedback
Here are a few analogies to describe Duos Technologies:
- Duos Technologies is like **Cognex for the railway industry**, providing AI-powered vision systems for automated train inspection.
- Imagine **IBM for industrial infrastructure management**, offering AI-driven platforms for automated inspection, asset management, and operational control in sectors like rail and logistics.
- Think of **Verkada for smart industrial security gates and logistics hubs**, using AI to automate security, inspection, and access control.
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- centraco: An enterprise information management system forming a core part of their technology solutions.
- truevue360: An integrated platform for developing and deploying artificial intelligence algorithms, including machine learning and computer vision for real-time applications.
- Praesidium: Software designed to manage various image capture devices and sensors, feeding data into the centraco software.
- Railcar Inspection Portal: An automated system for inspecting freight and transit trains while they are in motion.
- Vehicle Undercarriage Examiner: A proprietary application used to inspect the undercarriage of railcars.
- Thermal Undercarriage Examiner: A system for thermal inspection of railcar undercarriages.
- Enterprise Command and Control Suite: A solution for information consolidation, connectivity, and communications.
- Automated Logistics Information Systems (ALIS): An intelligent system designed to automate security gate operations.
- IT Asset Management Services: Specialized services for data center operators.
- Maintenance and Technical Support Services: Ongoing support for deployed technology solutions.
- Consulting and Auditing Services: Professional services offering expert advice and system reviews.
- Software Licensing and Hardware Sales: Providing access to their proprietary software and optional associated hardware.
- Training Services: Educational programs for clients on the use and management of their technology solutions.
AI Analysis | Feedback
Based on the provided description, Duos Technologies (DUOT) primarily sells its intelligent technology solutions and services to other companies and organizations, rather than to individuals.
The background information does not explicitly list the names of Duos Technologies' specific major customer companies. However, based on the types of products and services it offers, its major customers would fall into the following categories:
- Freight and Transit Rail Operators: Duos Technologies' proprietary applications like the Railcar Inspection Portal, Vehicle Undercarriage Examiner, and Thermal Undercarriage Examiner are designed for the automated inspection of freight and transit trains. This indicates that major customers are likely to be large freight railroad companies and passenger transit authorities.
- Examples of public companies in this sector (potential customers):
- Union Pacific Corporation (UNP)
- CSX Corporation (CSX)
- Norfolk Southern Corporation (NSC)
- Canadian National Railway Company (CNI)
- Canadian Pacific Kansas City Limited (CP)
- Examples of public companies in this sector (potential customers):
- Data Center Operators: The company provides IT asset management services specifically for "data centers operators." This category includes companies that own and operate large data center facilities.
- Logistics and Industrial Enterprises: Duos's Automated Logistics Information Systems for security gate operations and the Enterprise Command and Control Suite suggest customers would include large logistics companies, port authorities, major manufacturing facilities, and other industrial sites requiring automated security, information consolidation, and communications.
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Doug Recker, Chief Executive Officer (effective April 1, 2026)
Mr. Recker is appointed CEO effective April 1, 2026, after serving as President since September 2025 and leading the Duos Edge AI subsidiary since June 2024. He possesses over 30 years of experience in designing, implementing, and deploying multi-access Edge Data Center (EDC) and colocation services. He founded Edge Presence in 2017, which was acquired by Ubiquity in 2023. Previously, he founded Colo5 Data Centers LLC, which was acquired by Cologix, Inc. in 2014. His career demonstrates a pattern of founding and successfully exiting data center platforms.
Leah Brown, Chief Financial Officer
Ms. Brown was appointed Chief Financial Officer effective November 16, 2025. She brings over 30 years of industry experience, with 18 years specifically in the transportation sector, having held various management roles in accounting, finance, budgeting, program oversight, and organizational planning. Prior to her CFO appointment, she served as Senior Vice President of Accounting for Duos Technologies since January 2025 and joined the company as Controller in July 2022. From August 2020 to July 2022, she was Controller at the Jacksonville Transportation Authority. She holds an MBA with a concentration in Accounting and Finance from the University of North Florida and a Bachelor of Business Administration with a concentration in finance from Florida International University.
Adrian Goldfarb, Strategic Advisor
Mr. Goldfarb currently serves as a Strategic Advisor for Duos Technologies, a role he transitioned to after serving as Chief Financial Officer. He was re-appointed CFO in April 2024, a role he previously held until 2022. With over 40 years of experience in the technology industry, he played a pivotal role in leading Duos Technologies' Nasdaq listing and has held key positions at other technology and media firms, including Ecosphere Technologies and a Fujitsu subsidiary.
Jeff Necciai, (Title not explicitly stated, but based on role description likely Chief Technology Officer or similar)
Mr. Necciai has nearly 30 years of experience in designing, developing, and delivering technology solutions across diverse industries. He is responsible for managing the company's product and solutions roadmap and oversees multiple technology teams focused on developing unique and value-focused solutions. Before joining Duos, he served as Chief Technology Officer of NASCENT Technology, where he led cross-functional product teams to develop and deliver comprehensive gate automation solutions for rail and maritime terminal customers.
AI Analysis | Feedback
The key risks to Duos Technologies (DUOT) primarily revolve around the challenges in securing and executing projects, financial performance, and the successful diversification into new business areas:
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Project Delays and Slow Customer Adoption in the Rail Sector: Duos Technologies has faced significant challenges with project delays that are outside of its control, particularly concerning the deployment of its high-speed Railcar Inspection Portals. This has led to considerable revenue shortfalls and has been identified as a primary risk. The slow adoption of its technology by new customers in the rail sector further exacerbates this issue, impacting the company's financial performance and contributing to increased net losses.
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Financial Performance and Cash Management: The company has been described as quickly burning through cash and has experienced significant stock volatility. Duos Technologies reported a substantial decline in financial performance, with Q4 2023 revenue dropping by 76% and annual revenue decreasing by 50%. The company has operated at a net loss for extended periods, and while it aims to transition to a more stable, subscription-based revenue model and diversify its market reach, sustained profitability remains a critical concern. The company has also resorted to public offerings to fund expansion, with past offerings sometimes leading to negative market reactions, indicating potential investor apprehension regarding capital raises.
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Reliance on Successful Execution of New Business Lines and Key Contracts: Duos Technologies is actively pivoting and diversifying its offerings into new areas, such as AI-driven edge data centers and energy services, and has secured transformative contracts. While these new ventures offer significant growth potential and are aimed at stabilizing revenue, they introduce a substantial risk tied to the company's ability to flawlessly execute these complex projects across multiple markets. The heavy reliance on new, large contracts, such as the one with APR Energy, means that any delays, failures in execution, or issues with contract renewals could severely impact the company's projected revenue and overall financial stability.
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AI Analysis | Feedback
AI Analysis | Feedback
Duos Technologies Group, Inc. (DUOT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and expanded operations:
- Expansion into Edge Data Centers (Duos Edge AI) and Related IT Infrastructure Contracts: Duos Technologies is aggressively expanding its modular Edge Data Centers (EDCs), particularly in underserved Tier 3 and Tier 4 markets, targeting sectors like education and healthcare. The company deployed 12 EDCs in Texas during fiscal year 2025 and signed approximately $7 million in IT infrastructure contracts in Q4 2025, with a new Infrastructure Solutions Group launched to accelerate these capabilities. This expansion is supported by a new patent for modular data centers and is expected to generate high-margin, sticky, long-term contracts.
- Revenue from the Asset Management Agreement (AMA) with New APR Energy: The Asset Management Agreement with New APR Energy has been a significant contributor to Duos's revenue growth, specifically within its service and consulting segments. The company anticipates earning approximately $42 million from this agreement over a two-year period, as stated in its Q4 2024 earnings call. This agreement involved taking control of an existing contract with a utility company in Southern California and deploying additional gas turbines for a large U.S.-based AI data center operator.
- Growth in Recurring Services and AI/Software Subscriptions: Duos is actively focused on expanding its recurring revenue base through renewals and new agreements. This includes securing new multi-year AI subscription and data services contracts with major Class 1 railroads and large passenger railway systems. The company has also seen growth from higher service contract pricing and power consulting work. This strategic shift emphasizes data subscription, AI software, and support services.
- Increased Adoption and Deployment of Railcar Inspection Portals (RIPs) and Proprietary Applications: Despite some project delays encountered in 2023, Duos continues to pursue broader adoption of its advanced AI-based defect detection technology, such as the Railcar Inspection Portals (RIPs), for freight and transit trains. The company is engaging with major railroads, labor unions, and legislative bodies to facilitate the widespread implementation of this cutting-edge technology, with ongoing production of high-speed transit-focused RIPs and general enhancements to its proprietary offerings.
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Share Issuance
- In March 2026, Duos Technologies Group completed an underwritten public offering of 8,666,666 shares of common stock at $7.50 per share, generating approximately $65 million in gross proceeds.
- The company granted the underwriters a 30-day option to purchase up to an additional 1,299,999 shares to cover over-allotments.
- In July 2025, Duos priced an upsized $40 million equity offering at $6.00 per share to fund its Edge Data Center expansion.
Inbound Investments
- Duos Energy Corporation, a subsidiary of Duos Technologies, closed an Asset Management Agreement (AMA) with affiliates of Fortress Investment Group in January 2025, initially announced in November 2024.
- This AMA is valued at up to $42 million over a two-year period and involves deploying and operating a fleet of mobile gas turbines with 850 megawatts of generation capacity.
- Duos secured a 5% equity stake in the parent company that owns the assets managed under the Fortress partnership.
Capital Expenditures
- The net proceeds from the March 2026 public offering are primarily allocated to expand, accelerate, and further commercialize the Company's Edge Data Center business, along with providing working capital and general corporate purposes.
- As of December 31, 2025, Duos Technologies reported property, plant, and equipment valued at $26.92 million.
- In the fourth quarter of 2024, the company acquired six Edge Data Centers for initial deployments to Texas Regional Schools and is developing a high-density Data Center Park in Pampa, Texas, including the deployment of two Edge Data Centers and up to 500MW of power.
Peer Outperformance in Application Software
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| DUOT | Duos Technologies | 56.7% | 3.8x | -49.4% | 33.9% | -18.6% | — |
| PLTR | Palantir Technologies | 52.9% | 105.2x | -9.9% | 777.8% | 499.6% | +518pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 10 | 5.5% | 95.7% | 165.0% | FLEX 430% · TTMI 366% · JBL 278% |
| Technology Distributors | 9 | 43.9% | 54.8% | 55.2% | AVT 128% · SNX 108% · PLUS 55% |
| Semiconductor Materials & Equipment | 28 | 26.7% | 42.8% | 31.2% | AXTI 317% · KLAC 252% · LRCX 246% |
| Communications Equipment | 36 | 1.6% | 72.1% | 27.1% | AAOI 757% · LITE 491% · ANET 419% |
| Electronic Components | 24 | 13.8% | 63.4% | 21.0% | CLS 1764% · BELFA 944% · APH 282% |
| Electronic Equipment & Instruments | 27 | -6.4% | 29.5% | 0.8% | PI 125% · OSIS 106% · MIR 61% |
| Semiconductors | 55 | 6.4% | 41.4% | -12.3% | MU 848% · NVDA 509% · AVGO 474% |
| Technology Hardware, Storage & Peripherals | 21 | 12.4% | 54.0% | -18.1% | DELL 552% · SMCI 539% · WDC 536% |
| Internet Services & Infrastructure | 6 | -7.1% | 42.9% | -29.6% | GDDY 60% · VRSN 35% · AKAM -24% |
| IT Consulting & Other Services | 30 | -17.8% | -7.3% | -29.9% | APLD 264% · IBM 138% · GIB -7% |
| Systems Software | 70 | -10.7% | 15.8% | -54.2% | CRWD 207% · ZETA 202% · CVLT 136% |
| Application Software ← | 125 | -12.3% | -10.8% | -54.7% | PLTR 500% · FROG 167% · AGYS 138% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Duos Technologies Earnings Notes | 12/16/2025 | |
| With Duos Technologies Stock Surging, Have You Considered The Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 139.51 |
| Mkt Cap | 30.2 |
| Rev LTM | 8,226 |
| Op Inc LTM | 1,583 |
| FCF LTM | 798 |
| FCF 3Y Avg | 1,476 |
| CFO LTM | 1,386 |
| CFO 3Y Avg | 1,623 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.6% |
| Rev Chg 3Y Avg | 8.7% |
| Rev Chg Q | 9.7% |
| QoQ Delta Rev Chg LTM | 2.4% |
| Op Inc Chg LTM | 15.1% |
| Op Inc Chg 3Y Avg | 12.8% |
| Op Mgn LTM | 18.6% |
| Op Mgn 3Y Avg | 16.1% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 21.6% |
| CFO/Rev 3Y Avg | 15.7% |
| FCF/Rev LTM | 17.9% |
| FCF/Rev 3Y Avg | 14.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Services and Consulting | 22 | 1 | |||
| Technologies | 4 | 6 | |||
| Technology Solutions | 0 | 0 | |||
| Data Center Hosting & Related Services | 0 | 0 | |||
| Corporate and Unallocated | 0 | 0 | |||
| Artificial Intelligence | 1 | 1 | 1 | ||
| Commercial | 0 | 0 | 0 | ||
| Government | 0 | 0 | 0 | ||
| Rail | 6 | 14 | 7 | ||
| Banking/Other | 0 | ||||
| Information technology (IT) Suppliers | 0 | ||||
| Petrochemical | -0 | ||||
| Total | 27 | 7 | 7 | 15 | 8 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Services and Consulting | 7 | -0 |
| Technology Solutions | -0 | 0 |
| Data Center Hosting & Related Services | -3 | -0 |
| Corporate and Unallocated | -4 | -0 |
| Technologies | -10 | -10 |
| Total | -10 | -11 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Services and Consulting | 7 | -0 |
| Technology Solutions | -0 | 0 |
| Data Center Hosting & Related Services | -3 | -1 |
| Corporate and Unallocated | -4 | 1 |
| Technologies | -10 | -11 |
| Total | -10 | -11 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Data Center Hosting & Related Services | 28 | 4 |
| Corporate and Unallocated | 20 | 11 |
| Services and Consulting | 13 | 8 |
| Technologies | 2 | 12 |
| Technology Solutions | 1 | 0 |
| Total | 63 | 35 |
Price Behavior
| Market Price | $5.02 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 03/20/2018 | |
| Distance from 52W High | -65.7% | |
| 50 Days | 200 Days | |
| DMA Price | $7.60 | $8.89 |
| DMA Trend | down | down |
| Distance from DMA | -33.9% | -43.5% |
| 3M | 1YR | |
| Volatility | 86.4% | 83.9% |
| Downside Capture | 409.02 | 347.04 |
| Upside Capture | 189.69 | 227.76 |
| Correlation (S&P 500) | 43.5% | 43.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.63 | 3.57 | 2.81 | 2.84 | 2.67 | 1.70 |
| Up Beta | -3.73 | 0.66 | 1.94 | 2.55 | 2.87 | 1.53 |
| Down Beta | 0.57 | 4.19 | 2.64 | 0.93 | 1.42 | 1.19 |
| Up Capture | 442% | 282% | 253% | 452% | 578% | 1477% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 12 | 21 | 29 | 57 | 122 | 376 |
| Down Capture | 679% | 414% | 338% | 264% | 180% | 113% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 10 | 21 | 34 | 68 | 127 | 362 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DUOT | |
|---|---|---|---|---|
| DUOT | -53.0% | 83.9% | -0.53 | - |
| Sector ETF (XLK) | 12.1% | 28.4% | 0.39 | 54.0% |
| Equity (SPY) | 9.5% | 13.6% | 0.40 | 42.8% |
| Gold (GLD) | 1.6% | 28.7% | 0.05 | 13.6% |
| Commodities (DBC) | 38.4% | 21.2% | 1.42 | -6.2% |
| Real Estate (VNQ) | 11.3% | 14.2% | 0.51 | -1.4% |
| Bitcoin (BTCUSD) | -27.2% | 43.6% | -0.61 | 28.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DUOT | |
|---|---|---|---|---|
| DUOT | 3.6% | 93.3% | 0.45 | - |
| Sector ETF (XLK) | 16.2% | 26.4% | 0.55 | 22.4% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 18.8% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 6.3% |
| Commodities (DBC) | 8.1% | 19.6% | 0.30 | 5.9% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 10.3% |
| Bitcoin (BTCUSD) | 4.0% | 51.6% | 0.26 | 11.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DUOT | |
|---|---|---|---|---|
| DUOT | 22.2% | 501.2% | 0.42 | - |
| Sector ETF (XLK) | 22.6% | 25.3% | 0.82 | 4.7% |
| Equity (SPY) | 15.0% | 18.0% | 0.70 | 4.0% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 1.2% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | 1.9% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 2.6% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 3.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 10/20/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/19/2026 | -3.2% | -7.6% | -20.6% |
| 5/19/2026 | 8.8% | 68.2% | 58.8% |
| 4/2/2026 | 4.0% | 6.3% | 38.9% |
| 11/14/2025 | -2.1% | -5.9% | 2.8% |
| 8/18/2025 | -4.3% | -1.7% | 17.6% |
| 5/19/2025 | 0.6% | 10.3% | -3.6% |
| 4/2/2025 | -5.0% | -14.0% | 33.3% |
| 11/21/2024 | -6.0% | 3.8% | 9.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 10 | 15 |
| # Negative | 17 | 15 | 10 |
| Median Positive | 1.0% | 10.8% | 9.7% |
| Median Negative | -5.0% | -11.1% | -15.2% |
| Max Positive | 8.8% | 68.2% | 58.8% |
| Max Negative | -16.1% | -24.5% | -37.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/19/2026 | -3.2% | -7.6% | -20.6% |
| 5/19/2026 | 8.8% | 68.2% | 58.8% |
| 4/2/2026 | 4.0% | 6.3% | 38.9% |
| 11/14/2025 | -2.1% | -5.9% | 2.8% |
| 8/18/2025 | -4.3% | -1.7% | 17.6% |
| 5/19/2025 | 0.6% | 10.3% | -3.6% |
| 4/2/2025 | -5.0% | -14.0% | 33.3% |
| 11/21/2024 | -6.0% | 3.8% | 9.6% |
| 8/14/2024 | -2.8% | 4.0% | -4.0% |
| 5/14/2024 | 0.0% | -22.4% | 4.5% |
| 11/15/2023 | -16.1% | -19.7% | -19.7% |
| 8/15/2023 | -10.0% | -15.0% | -9.7% |
| 5/16/2023 | 0.5% | 19.5% | 22.1% |
| 3/31/2023 | 1.1% | 36.1% | 37.5% |
| 2/7/2023 | -9.7% | -13.7% | -14.9% |
| 11/16/2022 | -4.8% | -10.8% | -34.6% |
| 8/16/2022 | 1.8% | 11.4% | 3.0% |
| 5/17/2022 | -3.5% | -4.4% | 11.9% |
| 4/1/2022 | -1.7% | -11.1% | -37.5% |
| 1/28/2022 | -3.3% | -15.1% | 3.9% |
| 11/17/2021 | -8.2% | -24.5% | -15.6% |
| 8/16/2021 | -5.4% | -9.8% | 4.4% |
| 5/14/2021 | -7.5% | -4.5% | 9.7% |
| 3/26/2021 | -8.8% | 3.3% | -9.3% |
| 11/16/2020 | 1.0% | 19.2% | 8.3% |
| SUMMARY STATS | |||
| # Positive | 8 | 10 | 15 |
| # Negative | 17 | 15 | 10 |
| Median Positive | 1.0% | 10.8% | 9.7% |
| Median Negative | -5.0% | -11.1% | -15.2% |
| Max Positive | 8.8% | 68.2% | 58.8% |
| Max Negative | -16.1% | -24.5% | -37.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/19/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/19/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/19/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/19/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/31/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/14/2021 | 10-Q |
| 12/31/2020 | 03/30/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 08/14/2020 | 10-Q |
| 03/31/2020 | 05/15/2020 | 10-Q |
| 12/31/2019 | 03/30/2020 | 10-K |
| 09/30/2019 | 11/14/2019 | 10-Q |
Recent Forward Guidance
Updated 11/2/2026Latest: Q2 2026 Earnings Reported 8/19/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 MW Deployed | Reported | 25 | ||||||
| 2026 Revenue | Reported | 50.00 Mil | 0 | Affirmed | Guidance: 50.00 Mil for 2026 | |||
| 2026 Adjusted EBITDA | Reported | |||||||
Prior: Q1 2026 Earnings Reported 5/19/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 50.00 Mil | 0 | Affirmed | Guidance: 50.00 Mil for 2026 | |||
| 2026 Hydra Host Contract Revenue (Second Half) | Reported | 26.00 Mil | ||||||
| 2026 Hydra Host Contract Revenue (Balance of Term) | Reported | 135.00 Mil | ||||||
| 2026 Hydra Host Contract Gross Margin | Reported | 80.0% | ||||||
| 2026 Hydra Host Contract Annual EBITDA | Reported | 40.00 Mil | ||||||
Q4 2025 Earnings Reported 4/2/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 50.00 Mil | 72.4% | Higher New | Guidance: 29.00 Mil for 2025 | |||
Q3 2025 Earnings Reported 11/14/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 28.00 Mil | 29.00 Mil | 30.00 Mil | 0 | Affirmed | Guidance: 29.00 Mil for 2025 | |
| 2025 Revenue Growth | Reported | 285.0% | 298.5% | 312.0% | ||||
Investor Activity (13F)
Updated Nov 9, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Application Software Resources |
| Capterra |
| Software Advice |
| InfoWorld |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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