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Duos Technologies Group gets most of its revenue from asset management services tied to New APR Energy. Through Duos Energy, it manages deployment and operation of New APR’s mobile gas turbines and provides sales and operational support. These assets supply power outside traditional utilities, including for large AI data centers. Revenue is heavily concentrated in related-party customers. The New APR agreement’s expected services were reduced for 2026, and its extension is not assured.
The company is also building a different business through Duos Edge AI: modular data centers that place computing capacity closer to customers. Customers pay for cabinet space and supporting infrastructure, with hosting still contributing little revenue. Duos aims to expand recurring hosting and computing services; additional sites need deployment and an anchor tenant before generating revenue. The data centers use leased sites and depend on local utility power, telecommunications connections and deployment approvals.
Duos continues earning from machine-vision and AI inspection systems, including rail applications, through installations and related support services, though these are no longer its main growth focus. Its Technology Solutions business also earns from sourcing equipment and coordinating integration and deployment for customers’ infrastructure projects.
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Duos’s current results depend chiefly on its asset-management agreement with New APR Energy, whose expected services were reduced for 2026, rather than on the deployment and filling of edge data centers that underpin its future growth.
Hyliion Holdings Corp. shares Duos’s exposure to demand for on-site power: Hyliion is commercializing modular generators for data centers and industrial users, while Duos earns fees managing New APR’s mobile gas-turbine fleet. Watch Hyliion’s KARNO Power Module commercialization in those markets, which are targets rather than disclosed sources of revenue.
Gorilla Technology Group Inc. competes with Duos for enterprise and government customers paying for data-center computing capacity for AI, including access to GPU processing without owning the equipment—GPU-as-a-Service. Watch Gorilla’s standalone compute offering, which customers can buy without its application products, as the direct overlap with Duos’s computing services.
Exascale Labs Holdings Inc. competes with Duos to provide customers with rented GPU computing capacity for AI—GPU-as-a-Service—and both develop modular data-center infrastructure. Exascale already earns revenue from GPU access and managing GPU clusters for AI data-center operators, but its modular data-center capabilities had generated no revenue as of its Annual Report date, a useful distinction when judging competition for Duos’s planned deployments.
Hyliion Holdings Corp. earningsHYLN
Hyliion Holdings’ report will show whether data-center and industrial customers are adopting modular on-site generators, a market demand also relevant to the fees Duos earns managing New APR’s mobile gas-turbine fleet.
Look for evidence that Hyliion’s KARNO modules are moving into commercial use with data-center and industrial customers. Adoption would suggest on-site power demand is taking hold, potentially supporting demand for the New APR fleet Duos manages; slow commercialization would suggest this demand channel is still limited. KARNO is not a New APR turbine: the key is whether demand for on-site power is expanding into the market Duos serves.
Duos Technologies Group, Inc. earningsThis company
Duos Technologies Group still gets most of its revenue from asset-management services; this report will show whether edge data centers and technology solutions are broadening its income beyond a small set of customers.
Read revenue by segment alongside cash used in operations. Growth in Edge Data Center and Technology Solutions revenue, with operating cash use narrowing, would show the newer businesses are broadening the revenue base and making expansion less reliant on outside funding. If Asset Management Services still dominates and cash use remains high, revenue is still concentrated and expansion is still consuming cash. The question is whether diversification is beginning to reduce reliance on one income source and new financing.
