DUOT · Duos Technologies Group, Inc.

Duos Technologies delivered a transformative fourth quarter and full year 2025, marked by a 271% year-over-year revenue increase to $27.02 million. This record performance was primarily driven by the Duos Energy subsidiary's execution of the Asset Management Agreement (AMA) with New APR Energy, which contributed $22.4 million in services revenue. The company successfully pivoted its strategic focus toward AI and edge infrastructure, highlighted by the launch of Duos Technology Solutions and the deployment of 15 Edge Data Center pods. Gross margin improved significantly to $7.88 million from $0.47 million in the prior year, benefiting from the high-margin AMA revenue and a 100% margin contribution from a 5% equity interest in New APR's parent. Operating expenses increased 54% year-over-year to $17.64 million, largely due to non-cash stock-based compensation and one-time personnel costs, resulting in a net loss of $9.84 million, an improvement from the $10.76 million loss in 2024.

Looking forward, management provided robust 2026 revenue guidance of $50 million to $55 million, underpinned by a $25.8 million backlog and a newly secured GPU-as-a-Service contract expected to generate approximately $176 million over 36 months. The company is actively divesting its legacy rail inspection business to streamline operations and reallocate resources to higher-growth opportunities. Capital raises totaling $110 million in July 2025 and March 2026 have strengthened the balance sheet, with cash totaling $15.47 million at year-end, positioning the company to execute on its high-density EDC and GPU infrastructure strategy.