Duos Technologies Group, Inc. Provides Revenue Guidance for the Third Quarter and Fiscal Year Ending December 31, 2023
August 14, 2023 at 04:00 pm EDT
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Duos Technologies Group, Inc. provided revenue guidance for the third quarter and fiscal year ending December 31, 2023. For the quarter, the company expects revenues in the period to moderately increase compared to the second quarter of 2023 before ramping up more significantly in the fourth quarter and into 2024.
For the fiscal year, the company expects total revenue to range between $20.0 million and $21.0 million, representing an increase of 33% to 40% compared to 2022.
Duos Technologies Group, Inc., through its wholly owned subsidiary, Duos Technologies, Inc., designs, develops, deploys, and operates intelligent vision-based technology solutions using machine vision and artificial intelligence (AI) to analyze fast moving freight, passenger and transit trains and trucks streamlining operations, improving safety, and reducing costs. The Company provides solutions that automate the mechanical and security inspection of fast-moving trains, trucks, and automobiles through a broad range of hardware, software, information technology and AI. Its Railcar Inspection Portal (RIP) provides both freight and transit railroad customers and select government agencies the ability to conduct fully remote railcar inspections of trains while they are moving at full speed. It has also developed the automated logistics information system (ALIS) which automates gatehouse operations where transport trucks enter and exit large logistics and intermodal facilities.
DUOS TECHNOLOGIES GROUP, INC. 
