The Company is entering 2023 with an estimated total backlog of more than $10.7 million of which we expect to recognize $8.4 million during 2023. Duos is issuing preliminary revenue guidance between $20.0 million and $21.0 million for fiscal year 2023 based on existing contracts and contracts expected to be executed during the remainder of the year, planned expansion of the Company’s subscription business model and other contributing factors. This range represents an approximate increase of 30% to 36%, respectively, based on expected 2022 results.
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