Duos Technologies Reports 280% Revenue Growth to $5.74 Million in Q2 2025

Duos Technologies Group, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated total revenues of $5.74 million for the quarter, a substantial increase of 280% compared to $1.51 million in the same period last year. For the first half of 2025, revenues reached $10.69 million, up 314% from $2.58 million in the first half of 2024. This growth was primarily driven by a surge in services and consulting revenue, particularly from the Asset Management Agreement (AMA) with New APR, which contributed approximately $3.86 million in the second quarter alone.

Despite the revenue growth, Duos Technologies reported a net loss of $3.52 million for the second quarter of 2025, compared to a loss of $3.20 million in the same quarter of 2024. The increase in net loss was attributed to higher operating expenses, particularly in general and administrative costs, which rose by 123% to $4.23 million due to non-cash stock-based compensation and cash bonuses related to the AMA. The company’s total operating expenses for the quarter were $4.96 million, up from $3.00 million in the prior year.

Operationally, Duos Technologies has made strategic moves to expand its market presence. The company has focused on enhancing its technology offerings, particularly through its new subsidiaries, Duos Edge AI and Duos Energy Corporation. These subsidiaries aim to leverage the company's expertise in machine vision and AI to provide localized data processing solutions and energy management services, respectively. The company is also in the process of deploying Edge Data Centers, with the first site operational as of June 30, 2025, and plans for additional sites in the near future.

As of June 30, 2025, Duos Technologies reported total assets of $31.13 million, a decrease from $34.96 million at the end of 2024. The company’s working capital deficit stood at $8.30 million, with an accumulated deficit of $79.97 million. The company has been proactive in raising capital, successfully securing approximately $37.1 million in a public offering of common stock in July 2025, which is expected to strengthen its financial position and support ongoing strategic initiatives.

Looking ahead, Duos Technologies remains optimistic about its growth trajectory, particularly in the energy and edge computing sectors. The company anticipates continued revenue growth from its AMA with New APR and plans to expand its service offerings in the rail and power generation markets. Management believes that the combination of its current capital, operational improvements, and strategic initiatives will enable the company to achieve profitability in the long term.