Duos Technologies announces public offering of common stock

JACKSONVILLE, Fla. - Duos Technologies Group, Inc. (Nasdaq:DUOT), whose stock has seen a remarkable 156% gain over the past year despite a recent 9.6% weekly decline, announced Wednesday it is commencing an underwritten public offering of its common stock shares, subject to market conditions. InvestingPro data reveals 12 additional key insights about DUOT’s performance and outlook.

The company, which provides Edge Data Center solutions, plans to use the net proceeds to expand and further commercialize its Edge Data Center business. With current revenue of $11.2 million and an impressive 89% year-over-year growth, the funding is expected to fully capitalize Duos to execute on its backlog and advance to the second stage of its EDC strategy, which involves developing and deploying more than 65 edge data centers.

Titan Partners Group, a division of American Capital Partners, is serving as the sole bookrunner for the offering.

The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission in June 2023. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC.

No details regarding the size, pricing, or timing of the offering were disclosed in the company’s statement. The company noted there is no assurance as to whether or when the offering may be completed.

Duos Technologies Group designs, develops, and operates intelligent technology solutions for Machine Vision and Artificial Intelligence applications, according to the press release statement.

The announcement comes as the company seeks to strengthen its position in the edge computing market, which has seen growing demand for decentralized data processing capabilities. With a market capitalization of $88.45 million and a weak financial health score according to InvestingPro analysis, this capital raise could be crucial for improving the company’s 15.1% gross margin and overall market position. Get the complete financial picture with InvestingPro’s comprehensive research report, available for over 1,400 US stocks.

In other recent news, Duos Technologies Group, Inc. reported impressive financial results for Q1 2025, with revenue reaching $4.95 million. This figure represents a 363% increase compared to the same quarter last year and surpassed the forecasted $4.15 million. Additionally, Duos Technologies announced the deployment of two new Edge Data Centers in Corpus Christi, Texas, scheduled for delivery at the end of July. These centers will function as communication hubs for various sectors, including mobile operators, enterprises, and healthcare. In another development, the company has partnered with Region 3 Education Service Center to establish an Edge Data Center in Victoria, Texas, aimed at enhancing digital access for educational facilities. This center will support 37 school districts and provide low-latency access to essential services. The strategic initiatives highlight Duos Technologies’ focus on expanding its infrastructure and service capabilities in the region.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.