Duos Technologies reported a 30% increase in second quarter revenue for 2026 as the company completed its strategic divestiture of legacy rail operations to focus exclusively on AI and Edge Data Center infrastructure. Results were heavily impacted by a $53.2 million gain from the sale of a minority investment, significantly boosting net income and cash reserves.
Key Highlights
- Total revenue from continuing operations rose to $6.18 million, driven by $3.23 million in the newly established Technology Solutions segment.
- Secured a significant commercial milestone via five-year hosting agreements with Axe Compute valued at over $500 million for 55 MW of capacity.
- Achieved first positive operating income quarter as a data center company at $0.05 million, compared to a $1.54 million loss in the prior year.
- Ending cash and equivalents surged to $112.3 million, supported by $50.4 million in investment sale proceeds and a $55 million registered direct offering.