Net Loss of $2.99 Million Recorded by DUOS Technologies Group, Inc. in Q2 2023
Company Reports Q2 2023 Revenue of $1.77 Million
DUOS Technologies Group, Inc.(DOUT), a leading provider of advanced techno logy solutions for industries such as transportation and security, has released its financial results for the second quarter of 2023. The company reported a net loss of $2.99 million for the quarter, while generating revenue of $1.77 million during the same period. Let's take a closer look at the financial performance and key highlights from DUOS Technologies' latest consolidated financial statements.
Consolidated Balance Sheets
The unaudited consolidated balance sheets as of June 30, 2023, and December 31, 2022, revealed that the company's total assets amounted to $12.30 million and $13.08 million, respectively. In terms of current assets, DUOS Technologies reported cash of $2.45 million, accounts receivable of $286,871, contract assets of $1.01 million, inventory of $1.54 million, and prepaid expenses and other current assets of $496,545.
Liabilities and Stockholders' Equity
