Duos Technologies Group, Inc. reported its financial results for the first quarter ended March 31, 2025, on May 15, 2025. Total revenues for Q1 2025 increased 363% to $4.95 million, up from $1.07 million in the first quarter of 2024.
The significant revenue increase was primarily driven by Duos Energy beginning to execute its Asset Management Agreement (AMA) with New APR, contributing $3.01 million in revenue. Additionally, $904,125 in revenue was recognized from the amortization of the company's 5% equity interest in New APR's parent, which contributed at a 100% margin.
Gross margin for Q1 2025 increased 1,288% to $1.31 million compared to $0.09 million in the prior year period. The net operating loss decreased to $1.79 million from $2.76 million, and net loss decreased to $2.08 million from $2.75 million year-over-year. The company reiterated its 2025 revenue guidance of $28 million to $30 million.
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