Duos Technologies Group, Inc. (NASDAQ:DUOT) Q1 2022 Results Conference Call May 16, 2022 4:30 PM ET
Company Participants
Chuck Ferry - CEO
Adrian Goldfarb - CFO
Conference Call Participants
Mike Latimore - Northland Capital
Operator
Good afternoon. Welcome to Duos Technologies First Quarter 2022 Earnings Conference Call.
Joining us today's call are Duos CEO, Chuck Ferry; and CFO, Adrian Goldfarb. Following their remarks, we will open the call for your questions. Then, before we conclude today's call, I'll provide the necessary cautions regarding the forward-looking statements made by management during this call.
Now, I'd like to turn the call over to Duos’ CEO, Chuck Ferry. Sir, please proceed.
Chuck Ferry
Thank you, Maria. Welcome, everyone, and thank you for joining us.
Earlier today, we issued a press release announcing our financial results for the first quarter as well as other operational highlights. A copy of the press release is available in the Investor Relations section of our website. I encourage all listeners to view that release as well as our 10-Q filing with the SEC to better understand some of the details we'll be discussing during our call. So now, let's get started.
The first quarter was in line with our stated plan and has us well positioned to execute on our exiting backlog through the remainder of this year and in 2023. As we discussed in our March update, the last 18 months has been about laying a foundation for the business we plan to build upon going forward. 2022 will be a year of execution. We plan to meet performance obligations for existing contracts, sign new business with current and prospective Class I rail and transit operators, continue to develop and deploy artificial intelligence and software capabilities to meet the growing demands and needs of these customers, further our expansion efforts into adjacent market opportunities, and invest in internal operations to better capitalize on all these opportunities.
Through this process, we will continue to focus on achieving operational and technical excellence to provide better products, improve customer service and attract top talent. As of today, our business is performing at highest level in nearly two years, the results of which will begin to show in the latter half of 2022 and into 2023.
We will discuss more details about the business later on the call. So before I go any further, I'd like to turn the call over to our CFO, Adrian Goldfarb, who will walk us through the financial results for the quarter. Adrian?