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

REVENUE AND CONTRACT ACCOUNTING (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022


	September 30, 2023			December 31, 2022
Cumulative revenues recognized	$	8,594,322		$	5,934,205
Less: Billings or cash received		(7,247,591	)		(5,508,483	)
Contract assets	$	1,346,731		$	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


	September 30, 2023			December 31, 2022
Billings and/or cash receipts on uncompleted contracts	$	972,908		$	4,355,470
Less: Cumulative revenues recognized		(199,976	)		(4,144,018	)
Contract liabilities, technology systems		772,932			211,452
Contract liabilities, services and consulting		815,996			746,545
Total contract liabilities	$	1,588,928		$	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

Schedule of disaggregation of revenue
Segments	Rail		Commercial		Government		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	1,333,556	$	19,220	$	—	$	178,147	$	1,530,923

Major Goods and Service Lines

Turnkey Projects	$	705,849	$	—	$	—	$	—	$	705,849
Maintenance and Support		627,707		19,220		—		—		646,927
Algorithms		—		—		—		178,147		178,147
	$	1,333,556	$	19,220	$	—	$	178,147	$	1,530,923

Timing of Revenue Recognition

Goods transferred over time	$	705,849	$	—	$	—	$	—	$	705,849
Services transferred over time		627,707		19,220		—		178,147		825,074
	$	1,333,556	$	19,220	$	—	$	178,147	$	1,530,923

For the Three Months Ended September 30, 2022


Segments	Rail		Commercial		Government		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	3,765,312	$	32,821	$	23,245	$	200,860	$	4,022,238

Major Goods and Service Lines

Turnkey Projects	$	2,689,393	$	—	$	3,024	$	—	$	2,692,417
Maintenance and Support		1,075,919		32,821		20,221		183,378		1,312,339
Algorithms		—		—		—		17,482		17,482
	$	3,765,312	$	32,821	$	23,245	$	200,860	$	4,022,238

Timing of Revenue Recognition

Goods transferred over time	$	2,689,393	$	—	$	3,024	$	—	$	2,692,417
Goods delivered at point in time		—		—		—		17,482		17,482
Services transferred over time		532,250		32,821		20,221		183,378		768,670
Services delivered at point in time		543,669		—		—		—		543,669
	$	3,765,312	$	32,821	$	23,245	$	200,860	$	4,022,238

For the Nine Months Ended September 30, 2023


Segments	Rail		Commercial		Government		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	5,247,291	$	90,432	$	11,353	$	596,194	$	5,945,270

Major Goods and Service Lines

Turnkey Projects	$	3,390,555	$	13,552	$	—	$	—	$	3,404,107
Maintenance and Support		1,856,736		76,880		11,353		—		1,944,969
Algorithms		—		—		—		596,194		596,194
	$	5,247,291	$	90,432	$	11,353	$	596,194	$	5,945,270

Timing of Revenue Recognition

Goods transferred over time	$	3,390,555	$	13,552	$	—	$	—	$	3,404,107
Services transferred over time		1,856,736		76,880		11,353		596,194		2,541,163
	$	5,247,291	$	90,432	$	11,353	$	596,194	$	5,945,270

For the Nine Months Ended September 30, 2022

Segments	Rail		Commercial			Government		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	8,087,759	$	76,818		$	214,124	$	699,995	$	9,078,696

Major Goods and Service Lines

Turnkey Projects	$	5,885,477	$	(498	)	$	153,462	$	—	$	6,038,441
Maintenance and Support		2,202,282		77,316			60,662		465,223		2,805,483
Algorithms		—		—			—		234,772		234,772
	$	8,087,759	$	76,818		$	214,124	$	699,995	$	9,078,696

Timing of Revenue Recognition

Goods transferred over time	$	5,885,477	$	(498	)	$	153,462	$	—	$	6,038,441
Goods delivered at point in time		—		—			—		234,772		234,772
Services transferred over time		1,545,578		77,316			60,662		465,223		2,148,779
Services delivered at point in time		656,704		—			—		—		656,704
	$	8,087,759	$	76,818		$	214,124	$	699,995	$	9,078,696

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