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

REVENUE (Tables)

9 Months Ended

Sep. 30, 2022


	September 30, 2022		December 31, 2021
Cumulative revenues recognized	$	4,054,703	$	5,266,930
Less: Billings or cash received		3,230,316		(5,263,481	)
Contract assets	$	824,387	$	3,449


	September 30, 2022			December 31, 2021
Billings and/or cash receipts on uncompleted contracts	$	5,653,169		$	4,273,726
Less: Cumulative revenues recognized		(2,451,836	)		(3,041,088	)
Contract liabilities, technology systems		3,201,333			1,232,638
Contract liabilities, services and consulting		679,089			596,673
Total contract liabilities	$	3,880,422		$	1,829,311

Disaggregation of Revenue
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 Three Months Ended September 30, 2021

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

North America	$	1,303,662	$	45,547	$	52,866	$	(3,288	)	$	945	$	340,725	$	1,740,457

Major Goods and Service Lines

Turnkey Projects	$	984,313	$	—	$	32,645	$	—		$	—	$	136,192	$	1,153,150
Maintenance and Support		319,349		45,547		20,221		(3,288	)		945		204,533		587,307

	$	1,303,662	$	45,547	$	52,866	$	(3,288	)	$	945	$	340,725	$	1,740,457

Timing of Revenue Recognition

Goods transferred over time	$	984,313	$	—	$	32,645	$	—		$	—	$	136,192	$	1,153,150

Services transferred over time		319,349		45,547		20,221		(3,288	)		945		204,533		587,307
	$	1,303,662	$	45,547	$	52,866	$	(3,288	)	$	945	$	340,725	$	1,740,457

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

For the Nine Months Ended September 30, 2021

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

North America	$	3,527,736	$	158,989	$	198,153	$	22,473	$	134,717	$	501,811	$	4,543,879

Major Goods and Service Lines

Turnkey Projects	$	2,311,530	$	—	$	137,490	$	1,537	$	—	$	—	$	2,450,557
Maintenance and Support		1,216,206		158,989		60,663		20,936		—		208,519		1,665,313
Data Center Auditing Services		—		—		—		—		131,537		—		131,537
Software License		—		—		—		—		3,180		—		3,180
Algorithms		—		—		—		—		—		293,292		293,292
	$	3,527,736	$	158,989	$	198,153	$	22,473	$	134,717	$	501,811	$	4,543,879

Timing of Revenue Recognition

Goods transferred over time	$	2,311,530	$	—	$	137,490	$	1,537	$	131,537	$	208,519		2,790,613
Services transferred over time		1,216,206		158,989		60,663		20,936		3,180		293,292		1,753,266
	$	3,527,736	$	158,989	$	198,153	$	22,473	$	134,717	$	501,811	$	4,543,879