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Duos Technologies Group ( (DUOT) ) has provided an update.
Duos Technologies Group reported a significant 112% revenue increase in Q3 2024, reaching $3.24 million, with nearly half from recurring services. The company highlighted its expansion in edge data centers and AI investments, securing substantial contracts and growing its backlog to $18.8 million. Despite a 78% rise in costs, the improved gross margin and reduced operating expenses helped cut net losses by 53%, indicating a promising financial trajectory for those monitoring stock performance and market trends.
Find detailed analytics on DUOT stock on TipRanks’ Stock Analysis page.
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