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Duos Technologies Group ends 3Q with $4.1 million in cash, gives 4Q guidance

Duos Technologies Group Inc (NASDAQ:DUOT) CEO Chuck Ferry and CFO Adrian Goldfarb tell Proactive the group ended its third quarter with US$4.1 million in cash, thanks in part to the signing of two significant new rail contracts.

Ferry says the contracts include an initial $1.3 million deal with an existing Class 1 railroad customer to institute automated mechanical inspections on an existing Railcar Inspection Portal, as well as a new contract with ongoing client CN for North American-wide service and support.

Goldfarb adds Duos expects to deliver revenue of between $7.5 million and $8 million in 2020.

Quick facts: Duos Technologies Group, Inc.

Price: 4.75 USD

NASDAQ:DUOT
Market: NASDAQ
Market Cap: $16.79 m
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Duos Technologies Group featured on Dell Technologies podcast episode "The...

Duos Technologies Group Inc (NASDAQ:DUOT) CTO David Ponevac and CCO Scott Carns tell Proactive the group has been featured on Dell Technologies' Technology Powers X podcast, its episode entitled as "The Leading Edge of Rail." Ponevac and Carns say Dell has been a partner with Duos, who...

1 day, 18 hours ago

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