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Duos Technologies Group, Inc. (Nasdaq: DUOT) is a technology company headquartered in Jacksonville, Florida, specializing in intelligent vision-based solutions. The company focuses on Machine Vision and Artificial Intelligence (AI) technologies to analyze fast-moving objects, such as trains and trucks, to improve safety and operational efficiency. Duos Technologies offers a range of products and services, including automated inspection systems and AI-driven solutions for industrial applications.
- Turnkey Projects - Provides comprehensive solutions that integrate hardware, software, and AI technologies for automated inspection and analysis of railcars and other vehicles.
- Maintenance and Support - Offers ongoing support and maintenance services to ensure the optimal performance of its technology solutions.
- Algorithms - Develops AI-driven algorithms for real-time analysis and defect detection in various industrial applications.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Charles P. Ferry ExecutiveBoard | Chief Executive Officer | Charles P. Ferry has served as the Chief Executive Officer at Duos Technologies, Inc. since September 1, 2020, and was elected as a Director on the Board of Directors on November 19, 2020, bringing extensive military and corporate leadership experience to the company. | View Report → | |
Adrian Goldfarb Executive | Chief Financial Officer | Non-Executive Chairman of GelStat Corporation | Adrian Goldfarb is the CFO of DUOT since April 29, 2024. He previously served as CFO from April 2015 to November 15, 2022 and as Strategic Advisor and Director at DUOT. | |
Christopher King Executive | Chief Operating Officer (COO) | COO of New APR Energy, LLC | Christopher King is the COO at DUOT since January 1, 2025 , after previously serving as Chief Commercial Officer starting August 30, 2023. | |
Jeff Necciai Executive | Chief Technology Officer | Jeff Necciai is the Chief Technology Officer at DUOT since January 2021, bringing over 30 years of technology leadership experience. He previously served as CTO of NASCENT Technology, where he led high-performing teams and developed innovative solutions. | ||
John White Executive | Vice President of Operations | John White is a Decorated Infantry Combat Veteran with over 40 years of military and private sector experience, serving as a subject matter expert in infrastructure projects. He currently serves as the Vice President of Operations at Duos Technologies, focusing on power plant, solar farm installations, and Railcar Inspection Portals. | ||
Matt Keepman Executive | Senior Vice President of Sales and Marketing | Matt Keepman is the Senior Vice President of Sales and Marketing at Duos Technologies, joining in Q3 2022. He brings over two decades of experience managing strategic rail industry accounts and previously served as a Key Account Executive at Wabtec Corporation. | ||
Frank A. Lonegro Board | Director | President, Chief Executive Officer, and Director at Landstar System, Inc. | Frank A. Lonegro has served as a Director at DUOT since July 19, 2023 and became a member of the Audit Committee on April 1, 2024. He brings extensive leadership experience from previous roles at CSX Corporation and Beacon Roofing Supply, and he currently serves as President, Chief Executive Officer, and Director at Landstar System, Inc.. | |
James Craig Nixon Board | Chairman of the Compensation Committee | Founder and Chief Executive Officer of Nixon Six Solutions | James Craig Nixon joined DUOT on July 15, 2021 as a board member and currently serves as the Chairman of the Compensation Committee, bringing extensive leadership experience from his military background and previous executive roles. | |
Kenneth Ehrman Board | Chairman of the Board | Founder of Halo Collar; Independent Consultant to high-technology companies | Kenneth Ehrman has served as the Chairman of the Board at DUOT since November 2020 and as a board member since January 31, 2019. He previously founded and led I.D. Systems, Inc. as CEO and is the Founder of Halo Collar, underscoring his expertise in innovative wireless and IoT technologies. | |
Ned Mavrommatis Board | Director | Chief Financial Officer at Halo Collar | Ned Mavrommatis serves as a Director at DUOT since December 29, 2023 and participates in key board committees including the Audit, Compensation, and Corporate Governance and Nominating Committees. Previously, he has held executive roles as Chief Financial Officer at Halo Collar, PowerFleet, Inc., and I.D. Systems, Inc., and is recognized as an audit committee financial expert. |
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Based on your recent operational update, what specific supply chain and construction challenges do you anticipate that could hinder your goal of adding 2 to 3 edge data centers per quarter to reach the target of 15 by year-end?
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Given your active discussions with 5 or 6 of the largest hyperscalers, can you elaborate on the expected timeline for finalizing these deals and how they will impact your near-term revenue projections?
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With the diversification into edge data centers and power emerging as a key strategy to offset the slow adoption in your rail inspection business, what metrics will you use to measure its effectiveness in driving overall profitability?
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Considering the possibility of tariff impacts on raw materials, what concrete risk mitigation strategies are in place to ensure that rising costs do not derail the planned margins for your edge data centers and rail technology products?
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As you transition towards breaking even and achieving positive adjusted EBITDA later in the year, how do you plan to balance expenditures from new debt funding—especially for edge data center deployments—with the need to maintain healthy leverage ratios?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Participates in the visual and optical (laser) based railcar inspection systems market. | |
Ensco (KLD Labs) | Operates in the visual and optical (laser) based railcar inspection systems market. |
WID | Engaged in the visual and optical (laser) based railcar inspection systems market. |
IEM | Competes in the visual and optical (laser) based railcar inspection systems market. |
Camlin Rail | Active in the visual and optical (laser) based railcar inspection systems market. |
Cogniac | Reportedly collaborating with Class 1 railroads to develop AI algorithms for railcar inspection, which could be construed as competitive with Duos-developed algorithms. |
Leverages extensive telecommunications infrastructure to establish edge data centers quickly and efficiently. | |
EdgeConneX | Specializes in providing customizable and scalable edge data centers, focusing on reducing latency and improving data processing speed. |
Offers edge computing solutions that enhance connectivity and performance, particularly for web applications and content delivery. | |
Switch | Known for its innovative transportable edge data pods, which provide flexibility and rapid deployment. |
AWS (Amazon Web Services) | Provides a comprehensive suite of cloud services, including edge services that allow users to deploy APIs and tools closer to their endpoints. |
Recent press releases and 8-K filings for DUOT.
- The company executed its Second Amendment to the At-The-Market Issuance Sales Agreement with Ascendiant Capital Markets, LLC on May 27, 2025, increasing the amount of placement shares available under the agreement to $10,500,000.
- The amendment, supported by legal opinion and related filings, confirms that the updated sales program will proceed under the existing SEC shelf registration statement.
- Revenue surged 363% to approximately $5 million in Q1 2025, driven largely by recurring services and consulting revenue from the AMA with New APR Energy.
- Gross margin improved significantly by 1,288%, reaching $1.31 million compared to $90,000 in Q1 2024, reflecting strong performance from the energy segment.
- The company reported major progress with its Edge Data Center initiatives, with orders placed for additional centers and a target of deploying 15 units by year-end, alongside a robust contract backlog of over $45 million.
- Duos Technologies is undergoing a strategic transformation by segmenting its operations into rail, data center, and energy businesses to better capture market opportunities.
- Revenues grew sharply by 363% to $4.95 million with recurring AMA revenue driving a substantial gross margin improvement, up 1,288% to $1.31 million compared to Q1 2024.
- Duos Energy’s Asset Management Agreement is a key driver, with 570 MW contracted and an anticipated increase to 730 MW in the coming weeks to support Fast Power projects in the U.S. and Mexico.
- Edge Data Center expansion is on track with customer commitments for 15 sites by year-end, including additional orders and active discussions with hyperscalers.
- Financial discipline improved, evidenced by a reduction in net operating loss from $2.76 million to $1.79 million and a 24% decrease in net loss to $2.08 million, alongside a strong balance sheet with over $6.48 million in cash and $5.1 million in shareholders’ equity.
- On April 14, 2025, the company amended its at-the-market sales agreement to increase placement shares by $8,850,000, raising the total potential offering to $16,350,000 (adding to a previous amount of $7,500,000).
- The amendment supports the sale of common stock under an effective shelf registration statement filed in June 2023 and supplemented with a prospectus filing on the same day as the amendment.
- A legal opinion by Shutts & Bowen LLP confirms that the shares are duly authorized, validly issued, fully paid, and non-assessable.
- Kenneth Ehrman resigned as Chairman and director effective April 9, 2025, marking a significant board change.
- Ehrman, who joined the Board in January 2019 and served as Chairman since November 2020, left without expressing any disagreement with the company’s operations.
- Q4 2024 performance: Total revenue declined 4% to $1.46M with recurring services up 9%, reflecting both lower overall activity and increased costs from power consulting work.
- Key contract secured: The Company signed an Asset Management Agreement with New APR Energy and Fortress Investment Group worth up to $42M, including a $5M advance for future services.
- Strategic transformation and guidance: Duos launched two new subsidiaries—Duos Edge AI and Duos Energy—and provided 2025 guidance, forecasting consolidated revenue between $28M-$30M with Q1 revenue expected in the $4M-$5M range.
- Diversification Strategy: The company is transitioning by expanding into edge data centers and power assets through the creation of Duos Edge AI and Duos Energy, aiming to accelerate growth and profitability.
- Financial Performance Improvements: Q4 2024 results showed reduced operating losses (net operating loss of $3.09M vs. $3.18M in Q4 2023) and a stronger balance sheet with $6.27M in cash, reflecting effective cost reductions and improved operational execution.
- Robust 2025 Guidance: The company expects consolidated revenue between $28-30M, aims to break even and achieve positive adjusted EBITDA by the latter part of the year, and plans to raise $10-15M to support the deployment expansion of edge data centers, targeting 15 centers by year-end.
- Duos Technologies Group, Inc. (Nasdaq: DUOT) presented at the Microcap Conference 2025, sharing its growth strategy and investment opportunities driven by AI-powered edge solutions for applications such as railcar inspection and real-time analytics.
- The presentation detailed its multi-segment approach across Intelligent Technologies, Edge Data Centers, and Energy solutions, emphasizing planned deployments and strategic initiatives for enhanced market presence.
- Key highlights included targeted annual recurring revenue growth, scheduled installation milestones, and strong gross margin expectations for its emerging businesses.