Duos Technologies Group, Inc. Quarterly report pursuant to Section 13 or 15(d)

REVENUE (Tables)

6 Months Ended

Jun. 30, 2022


	June 30, 2022			December 31, 2021
Cumulative revenues recognized	$	2,018,047		$	5,266,930
Less: Billings or cash received		(1,315,675	)		(5,263,481	)
Contract assets	$	702,372		$	3,449


	June 30, 2022			December 31, 2021
Billings and/or cash receipts on uncompleted contracts	$	6,340,948		$	4,273,726
Less: Cumulative revenues recognized		(2,431,095	)		(3,041,088	)
Contract liabilities, technologies systems		3,909,853			1,232,638
Contract liabilities, services and consulting		1,105,597			596,673
Total contract liabilities	$	5,015,450		$	1,829,311

Disaggregation of Revenue
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 Three Months Ended June 30, 2021

Segments	Rail		Commercial		Government		Banking		IT Suppliers		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	466,628	$	57,600	$	116,727	$	2,932	$	795	$	3,986	$	648,668

Major Goods and Service Lines

Turnkey Projects	$	3,895	$	—	$	96,506	$	—	$	—	$	—	$	100,401
Maintenance and Support		462,733		57,600		20,221		2,932		—		3,986		547,472

Software License		—		—		—		—		795		—		795

	$	466,628	$	57,600	$	116,727	$	2,932	$	795	$	3,986	$	648,668

Timing of Revenue Recognition

Goods transferred over time	$	3,895	$	—	$	96,506	$	—	$	—	$	—	$	100,401

Services transferred over time		462,733		57,600		20,221		2,932		795		3,986		548,267
	$	466,628	$	57,600	$	116,727	$	2,932	$	795	$	3,986	$	648,668

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

For the Six Months Ended June 30, 2021

Segments	Rail		Commercial		Government		Banking		IT Suppliers		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	2,224,074	$	113,442	$	145,287	$	25,761	$	133,772	$	161,086	$	2,803,422

Major Goods and Service Lines

Turnkey Projects	$	1,327,217	$	—	$	104,845	$	1,537	$	—	$	—	$	1,433,599
Maintenance and Support		896,857		113,442		40,442		24,224		—		3,986		1,078,951
Data Center Auditing Services		—		—		—		—		130,592		—		130,592
Software License		—		—		—		—		3,180		—		3,180
Algorithms		—		—		—		—		—		157,100		157,100
	$	2,224,074	$	113,442	$	145,287	$	25,761	$	133,772	$	161,086	$	2,803,422

Timing of Revenue Recognition

Goods transferred over time	$	1,327,217	$	—	$	104,845	$	1,537	$	130,592	$	157,100		1,721,291
Goods delivered point in time		—		—		—		—		—		—		—
Services transferred over time		896,857		113,442		40,442		24,224		3,180		3,986		1,082,131
	$	2,224,074	$	113,442	$	145,287	$	25,761	$	133,772	$	161,086	$	2,803,422