Duos Technologies (DUOT) financial statements
Duos Technologies reported revenue of $27M in fiscal 2025, up 18.0% a year over 9 years.
Net income was -$10M and the operating margin -36.1%, against -28.6% in 2016.
Free cash flow was -$37M.
The diluted share count rose 710% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Duos Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6M | $4M | $12M | $14M | $8M | $8M | $15M | $7M | $7M | $27M |
| Cost of revenue | $3M | $2M | $7M | $7M | $8M | $6M | $10M | $6M | $7M | $19M |
| Gross profit | $3M | $2M | $5M | $6M | $235,836 | $2M | $5M | $1M | $469,215 | $8M |
| Research and development | $271,950 | $310,099 | $488,694 | $1M | $102,219 | $3M | $2M | $2M | $2M | $846,850 |
| Selling, general and admin | $1M | $1M | $2M | $3M | — | $6M | $10M | $11M | $10M | $17M |
| Operating income | -$2M | -$3M | -$2M | -$2M | -$7M | -$7M | -$7M | -$11M | -$11M | -$10M |
| Interest expense | — | $5M | $17,180 | $69,322 | $150,137 | $20,268 | $9,191 | $7,159 | $286,114 | $439,261 |
| Income tax | — | — | — | — | $0 | $0 | — | — | — | — |
| Net income | -$3M | -$5M | -$2M | -$2M | -$7M | -$6M | -$7M | -$11M | -$11M | -$10M |
| EPS (diluted) | -$1.36 | -$1.43 | -$0.08 | -$1.39 | -$2.03 | -$1.63 | -$1.11 | -$1.56 | -$1.39 | -$0.64 |
| Diluted shares | 2M | 4M | 21M | 2M | 3M | 4M | 6M | 7M | 8M | 15M |
| Gross margin | 55.2% | 40.9% | 43.2% | 47.5% | 2.9% | 24.7% | 31.6% | 17.5% | 6.4% | 29.2% |
| Operating margin | -28.6% | -88.6% | -13.0% | -17.6% | -82.5% | -90.3% | -45.7% | -153.2% | -150.9% | -36.1% |
| Net margin | -42.0% | -132.6% | -13.1% | -18.1% | -83.9% | -72.7% | -45.7% | -150.5% | -147.8% | -36.4% |
Balance sheet
Fiscal years, from Duos Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $174,376 | $2M | $1M | $56,249 | $4M | $893,720 | $1M | $2M | $6M | $15M |
| Receivables | $256,989 | $298,304 | $2M | $3M | $1M | $2M | $3M | $1M | $109,007 | $621,927 |
| Inventory | — | — | — | — | $112,423 | $298,338 | $1M | $2M | $605,356 | $2 |
| Total current assets | $1M | $3M | $4M | $5M | $6M | $3M | $7M | $6M | $8M | $22M |
| Property, plant and equipment | $66,491 | $65,362 | $204,226 | $260,181 | $342,180 | $603,253 | $629,490 | $726,507 | $3M | $27M |
| Total assets | $1M | $3M | $4M | $6M | $6M | $9M | $13M | $13M | $35M | $63M |
| Total current liabilities | $5M | $2M | $5M | $5M | $4M | $4M | $4M | $3M | $16M | $10M |
| Total liabilities | $6M | $2M | $5M | $6M | $5M | $9M | $9M | $7M | $33M | $15M |
| Shareholders' equity | -$6M | $622,535 | -$170,985 | -$127,270 | $2M | $781,485 | $4M | $5M | $2M | $49M |
| Net debt | -$174,376 | -$2M | -$1M | -$56,249 | -$4M | -$893,720 | -$1M | -$2M | -$6M | -$15M |
Cash flow
Fiscal years, from Duos Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$2M | -$4M | -$345,287 | -$4M | -$4M | -$7M | -$8M | -$9M | -$3M | -$14M |
| Capital spending | $35,345 | $41,709 | $272,393 | $206,480 | $279,146 | $545,505 | $626,698 | $1M | $2M | $24M |
| Free cash flow | -$2M | -$4M | -$617,680 | -$4M | -$5M | -$7M | -$9M | -$10M | -$5M | -$37M |
| Stock-based compensation | — | — | $447,826 | $44,874 | $351,970 | $262,411 | $819,191 | $710,047 | $108,981 | $4M |
| Share buybacks (net) | — | — | -$1,459 | -$7,993 | — | — | — | — | — | — |
| Net borrowing | -$220,800 | $1M | -$243,566 | — | $1M | — | — | — | — | -$2M |
| Free cash flow margin | -30.7% | -92.8% | -5.1% | -31.0% | -56.1% | -86.3% | -56.6% | -130.8% | -73.1% | -138.4% |
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Open DUOT in InvestinglyQuestions
What was Duos Technologies's revenue in 2025?
$27M in fiscal 2025, from its 10-K filing.
How much free cash flow does Duos Technologies generate?
-$37M in fiscal 2025 (operating cash flow minus capital spending).
From Duos Technologies's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.