DUOS TECHNOLOGIES GROUP, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data DUOS TECHNOLOGIES GROUP, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	6.1	3.88	12	13.6	8.04	8.26	15	7.47	7.28	27
Cost of revenue	2.73	2.29	6.84	7.16	7.8	6.22	10.3	6.16	6.81	19.1
Gross profit	3.37	1.59	5.2	6.48	0.24	2.04	4.75	1.31	0.47	7.88
Research and development	0.27	0.31	0.49	1.48	0.1	2.52	1.65	1.81	1.53	0.85
Selling and marketing	0.28	0.18	0.29	0.42			1.34	1.49	2.14	1.23
General and administrative	0.89	1.05	1.45	2.21		5.75	8.63	9.45	7.78	15.6
Operating income	-1.74	-3.44	-1.57	-2.41	-6.63	-7.46	-6.87	-11.4	-11	-9.76
Interest expense		4.52	0.02	0.07	0.15	0.02	0.01	0.01	0.29	0.44
Interest income									0.04	0.45
Other non-operating income	-0.82	-1.71	-0.01	-0.06	-0.11	1.45	0	0.2	0.22	-0.07
Income tax					0	0
Net income	-2.56	-5.15	-1.58	-2.47	-6.75	-6.01	-6.86	-11.2	-10.8	-9.84
EBITDA	-1.7	-3.4	-1.5	-2.25	-6.44	-7.19	-6.6	-11.1	-8.82	-7.65
EPS, basic	-1.36	-1.43	-0.08	-1.39	-2.03	-1.63	-1.11	-1.56	-1.39	-0.64
EPS, diluted	-1.36	-1.43	-0.08	-1.39	-2.03	-1.63	-1.11	-1.56	-1.39	-0.64
Shares, basic (weighted)	1.88	3.61	20.8	1.78	3.32	3.69	6.18	7.2	7.74	15.3
Shares, diluted (weighted)	1.88	3.61	20.8	1.78	3.32	3.69	6.18	7.2	7.74	15.3

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.17	1.94	1.21	0.06	3.97	0.89	1.12	2.44	6.27	15.5
Receivables	0.26	0.3	1.54	2.61	1.24	1.74	3.42	1.46	0.11	0.62
Inventory					0.11	0.3	1.43	1.53	0.61	0
Other current assets	0.48	0.09	0.24	0.72	0.37	0.35	0.44	0.18	0.18	0.49
Total current assets	1.04	2.75	4.19	4.76	5.8	3.29	6.83	6.26	8.09	21.9
Property, plant and equipment	0.07	0.07	0.2	0.26	0.34	0.6	0.63	0.73	2.77	27.3
Lease right-of-use assets				0.43	0.2	4.93	4.69	4.37	4.03	3.65
Intangible assets	0.05	0.05	0.05	0.06	0.06	0.07	0.07	0.13	0.13	0.02
Total assets	1.16	2.87	4.49	5.53	6.41	9.48	13.1	12.8	35	63.4
Accounts payable	0.84	0.81	1.42	2.64	0.6	1.04	2.29	0.6	0.97	4.59
Accrued liabilities		0.5	0.22	0.39	1.04	0.62	0.45	0.16	0.37	0.19
Deferred revenue	0.68	0.2	2.25	0.01	0.71	1.83	0.96	1.67	11.8
Total current liabilities	5.13	2.2	4.66	5.37	3.64	3.94	4.5	3.25	16.1	9.58
Long-term debt	1.21								1.76
Lease liabilities				0.2		4.74	4.54	4.23	3.87	3.45
Total liabilities	6.38	2.24	4.66	5.66	4.52	8.7	9.04	7.48	32.7	14.9
Total debt	0.04
Paid-in capital	18.1	29.5	30.2	32.8	41.5	46.4	56.6	69.1	76.8	133
Retained earnings	-23.5	-28.7	-30.3	-32.7	-39.5	-45.5	-52.4	-63.6	-74.4	-84.2
Treasury stock	-0.15	-0.15	-0.15	-0.16	-0.16	-0.16	-0.16	-0.16	-0.16	-0.16
Shareholders' equity	-5.52	0.62	-0.17	-0.13	1.88	0.78	4.05	5.37	2.26	48.6
Total equity	-5.52	0.62	-0.17	-0.13	1.88	0.78	4.05	5.37	2.26	48.6
Total liabilities and equity	1.16	2.87	4.49	5.53	6.41	9.48	13.1	12.8	35	63.4
Shares outstanding	1.89	20.7	1.51	1.98	3.53	4.11	7.16	7.31	8.92	20.4

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-2.56	-5.15	-1.58	-2.47	-6.75	-6.01	-6.86	-11.2	-10.8	-9.84
Depreciation and amortization	0.04	0.04	0.07	0.16	0.2	0.27	0.27	0.32	2.16	2.11
Stock-based compensation			0.45	0.04	0.35	0.26	0.82	0.71	0.11	4.06
Change in receivables	0.2	-0.04	-1.24	-1.29	1.37	-0.61	-1.68	1.96	0.98	-0.62
Change in inventory					0.11	-0.19	-1.13	-0.1	0.05	0.03
Change in payables	0.26	0.26						-1.69	0.37	3.89
Cash from operations	-1.84	-3.56	-0.35	-4.02	-4.23	-6.58	-7.87	-8.75	-3.49	-13.7
Capital expenditures	-0.04	-0.04	-0.21	-0.21	-0.28	-0.55	-0.34	-0.5	-1.83	-23.7
Cash from investing	-0.04	-0.04	-0.29	-0.22	-0.29	-0.55	-0.64	-1.09	-1.84	-23.7
Debt issued		1.33			1.41
Stock issued		5.78			9.25		8.8		3.54	54
Share buybacks			-0	-0.01
Cash from financing	1.91	5.37	-0.1	3.09	8.43	4.06	8.75	11.2	9.15	46.7
Net change in cash	0.03	1.77	-0.73	-1.15	3.91	-3.08	0.23	1.32	3.82	9.21
Free cash flow	-1.88	-3.6	-0.56	-4.23	-4.51	-7.12	-8.22	-9.24	-5.32	-37.4
Interest paid	0.25	0.13	0.01	0.01	0.03	0.03	0.01	0.01	0	0.28
Income taxes paid	0.01						0	0.03	0.02	0.09

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $9.14 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	37.6%	Gross profit / revenue.
Operating margin	-38.2%	Operating income / revenue.
EBITDA margin	-37.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	153.1%	Net income / revenue.
Operating cash flow margin	20.9%	Cash from operations / revenue.
Return on equity (ROE)	19.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	16.6%	Net income / average total assets.
Return on invested capital (ROIC)	-8.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	14.1%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	1.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	271.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	21.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	27.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	1,579.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	18.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	101.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	2,047.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	128.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	91.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	81.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	69.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	58.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	97.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	35.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	35.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	8.47x	Current assets / current liabilities.
Quick ratio	7.53x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	7.33x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	14.0%	Total liabilities / total assets.
Working capital	$114.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$207.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.11x	Revenue / average total assets.
Fixed asset turnover	0.88x	Revenue / average property, plant and equipment.
Inventory turnover	300x	Cost of revenue / average inventory.
Days inventory	1 days	365 x average inventory / cost of revenue.
Receivables turnover	8.55x	Revenue / average receivables.
Days sales outstanding	43 days	365 x average receivables / revenue.
Days payables	35 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	9 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.13	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$0.74	Revenue / diluted weighted shares.
Operating cash flow per share	$0.15	Cash from operations / diluted weighted shares.
Book value per share	$10.14	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$10.14	Tangible book value / shares outstanding.
Cash per share	$5.49	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$268.8M	Share price x shares outstanding.
Enterprise value	$156.5M	Market cap + total debt - cash - short-term investments.
P/E	6.70x	Market cap / net income. Only when net income is positive.
P/S	10.3x	Market cap / revenue.
P/B	1.30x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.30x	Market cap / tangible book value, when positive.
P/OCF	49.0x	Market cap / cash from operations, when positive.
EV/Sales	5.97x	Enterprise value / revenue.
Earnings yield	14.9%	Net income / market cap (the inverse of P/E).

What was DUOS TECHNOLOGIES GROUP, INC.'s revenue in fiscal 2025?

DUOS TECHNOLOGIES GROUP, INC. reported revenue of $27.0M for fiscal 2025, 271.2% higher than the year before.

Was DUOS TECHNOLOGIES GROUP, INC. profitable in fiscal 2025?

No. It reported a net loss of $9.8M.

How much free cash flow did DUOS TECHNOLOGIES GROUP, INC. generate in fiscal 2025?

Cash from operations of $13.7M minus capital expenditures of $23.7M left free cash flow of -$37.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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