Duos Technologies Group, Inc. General form of registration statement for all companies including face-amount certificate companies

REVENUE AND CONTRACT ACCOUNTING (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022


	June 30, 2023			December 31, 2022
Cumulative revenues recognized	$	8,278,099		$	5,934,205
Less: Billings or cash received		(7,271,308	)		(5,508,483	)
Contract assets	$	1,006,791		$	425,722


	2022			2021
Cumulative revenues recognized	$	5,934,205		$	5,266,930
Less: Billings or cash received		(5,508,483	)		(5,263,481	)
Contract Assets	$	425,722		$	3,449


	June 30, 2023		December 31, 2022
Billings and/or cash receipts on uncompleted contracts	$	972,900	$	4,355,470
Less: Cumulative revenues recognized		—		(4,144,018	)
Contract liabilities, technology systems		972,900		211,452
Contract liabilities, services and consulting		1,466,740		746,545
Total contract liabilities	$	2,439,640	$	957,997


	2022			2021
Billings and/or cash receipts on uncompleted contracts	$	4,355,470		$	4,473,726
Less: Cumulative revenues		(4,144,018	)		(3,041,088	)
Contract liabilities, technology systems	$	211,452		$	1,232,638
Contract Liabilities, services and consulting		746,545			596,673
Total Contract Liabilities	$	957,997		$	1,829,311


Segments	Rail		Commercial		Government		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	1,537,286	$	42,381	$	—	$	190,392	$	1,770,059

Major Goods and Service Lines

Turnkey Projects	$	856,942	$	13,552	$	—	$	—	$	870,494
Maintenance and Support		680,344		28,829		—		—		709,173
Algorithms		—		—		—		190,392		190,392
	$	1,537,286	$	42,381	$	—	$	190,392	$	1,770,059

Timing of Revenue Recognition

Goods transferred over time	$	856,942	$	13,552	$	—	$	—	$	870,494
Services transferred over time		680,344		28,829		—		190,392		899,565
	$	1,537,286	$	42,381	$	—	$	190,392	$	1,770,059

For the Three Months Ended June 30, 2022


Segments	Rail		Commercial		Government		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	3,315,171	$	26,697	$	38,737	$	236,537	$	3,617,142

Major Goods and Service Lines

Turnkey Projects	$	2,675,426	$	—	$	18,517	$	—	$	2,693,943
Maintenance and Support		639,745		26,697		20,220		150,435		837,097
Algorithms		—		—		—		86,102		86,102
	$	3,315,171	$	26,697	$	38,737	$	236,537	$	3,617,142

Timing of Revenue Recognition

Goods transferred over time	$	2,675,426	$	—	$	18,517	$	—	$	2,693,943
Goods delivered at point in time		—		—		—		86,102		86,102
Services transferred over time		639,745		26,697		20,220		150,435		837,097
	$	3,315,171	$	26,697	$	38,737	$	236,537	$	3,617,142

For the Six Months Ended June 30, 2023


Segments	Rail		Commercial		Government		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	3,913,735	$	71,212	$	11,353	$	418,047	$	4,414,347

Major Goods and Service Lines

Turnkey Projects	$	2,684,706	$	13,552	$	—	$	—	$	2,698,258
Maintenance and Support		1,229,029		57,660		11,353		—		1,298,042
Algorithms		—		—		—		418,047		418,047
	$	3,913,735	$	71,212	$	11,353	$	418,047	$	4,414,347

Timing of Revenue Recognition

Goods transferred over time	$	2,684,706	$	13,552	$	—	$	—	$	2,698,258
Services transferred over time		1,229,029		57,660		11,353		418,047		1,716,089
	$	3,913,735	$	71,212	$	11,353	$	418,047	$	4,414,347

For the Six Months Ended June 30, 2022

Segments	Rail		Commercial			Government		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	4,322,444	$	43,997		$	190,879	$	499,138	$	5,056,458

Major Goods and Service Lines

Turnkey Projects	$	3,196,081	$	(498	)	$	150,438	$	—	$	3,346,021
Maintenance and Support		1,126,363		44,495			40,441		281,847		1,493,146
Algorithms		—		—			—		217,291		217,291
	$	4,322,444	$	43,997		$	190,879	$	499,138	$	5,056,458

Timing of Revenue Recognition

Goods transferred over time	$	3,196,081	$	(498	)	$	150,438	$	—	$	3,346,021
Goods delivered at point in time		—		—			—		217,291		217,291
Services transferred over time		1,126,363		44,495			40,441		281,847		1,493,146
	$	4,322,444	$	43,997		$	190,879	$	499,138	$	5,056,458

Schedule of Disaggregation of Revenue
Segments	Rail		Commercial		Petrochemical		Government		Banking/Other		IT Suppliers		Artificial Intelligence		Total
Primary Geographical Markets
North America	$	13,710,777	$	115,443	$	—	$	237,414	$	—	$	—	$	948,732	$	15,012,366

Major Goods and Service Lines
Turnkey Projects	$	10,789,693	$	9,297	$	—	$	156,530	$	—	$	—	$	234,772	$	11,190,292
Maintenance & Support		2,921,084		106,146		—		80,884		—		—		—		3,108,114
Data Center Auditing Services		—		—		—		—		—		—		—		—
Software License		—		—		—		—		—		—		—		—
Algorithms		—		—		—		—		—		—		713,960		713,960
	$	13,710,777	$	115,443	$	—	$	237,414	$	—	$	—	$	948,732	$	15,012,366

Timing of Revenue Recognition
Goods transferred over time	$	10,789,693	$	9,297	$	—	$	156,530	$	—	$	—	$	234,772	$	11,190,292
Services transferred over time		2,921,084		106,146		—		80,884		—		—		713,960		3,822,074
	$	13,710,777	$	115,443	$	—	$	237,414	$	—	$	—	$	948,732	$	15,012,366

Quantitative:

For the Year Ended December 31, 2021

Segments	Rail		Commercial		Petrochemical			Government		Banking		IT Suppliers		Artificial Intelligence		Total
Primary Geographical Markets
North America	$	6,883,670	$	213,517	$	(867	)	$	314,030	$	23,340	$	134,717	$	691,510	$	8,259,917

Major Goods and Service Lines
Turnkey Projects	$	5,255,491	$	27,831	$	—		$	233,145	$	1,537	$	—	$	—	$	5,518,004
Maintenance & Support		1,628,179		185,686		(867	)		80,885		21,803		—		341,915		2,257,601
Data Center Auditing Services		—		—		—			—		—		131,537		—		131,537
Software License		—		—		—			—		—		3,180		—		3,180
Algorithms		—		—		—			—		—		—		349,595		349,595
	$	6,883,670	$	213,517	$	(867	)	$	314,030	$	23,340	$	134,717	$	691,510	$	8,259,917

Timing of Revenue Recognition
Goods transferred over time	$	5,255,491	$	27,831	$	—		$	233,145	$	1,537	$	131,537	$	349,595	$	5,999,136
Services transferred over time		1,628,179		185,686		(867	)		80,885		21,803		3,180		341,915		2,260,781
	$	6,883,670	$	213,517	$	(867	)	$	314,030	$	23,340	$	134,717	$	691,510	$	8,259,917