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BKYI

BIO-key International, Inc.

BKYI

BIO-key International, Inc. • NASDAQ
$0.81 ▼ -1.65% (-0.01)
Market Cap $5.54 M
52w High $3.68
52w Low $0.62
Dividend Yield 0%
P/E -0.9
Volume 188.76K
Outstanding Shares 6.85M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.55M ▼ $2.084M ▼ $-964.849K ▲ -62.26% ▲ $-0.15 ▲ $-874.08K ▲
Q2-2025 $1.697M ▲ $2.317M ▲ $-1.167M ▼ -68.796% ▼ $-0.2 ▼ $-1.041M ▼
Q1-2025 $1.607M ▲ $1.968M ▼ $-736.545K ▲ -45.829% ▲ $-0.16 ▲ $-542.608K ▲
Q4-2024 $1.462M ▼ $2.468M ▲ $-1.567M ▼ -107.174% ▼ $-0.52 ▼ $-1.165M ▼
Q3-2024 $2.145M $2.26M $-738.959K -34.453% $-0.39 $-415.984K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.04M ▼ $10.113M ▼ $4.068M ▲ $6.045M ▼
Q2-2025 $2.275M ▼ $10.517M ▼ $3.664M ▲ $6.852M ▼
Q1-2025 $3.134M ▲ $11.184M ▲ $3.657M ▼ $7.527M ▲
Q4-2024 $437.604K ▼ $8.616M ▲ $4.844M ▼ $3.772M ▲
Q3-2024 $1.801M $6.4M $6.267M $133.042K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-964.849K ▲ $-1.123M ▼ $-1.325K ▲ $962.508K ▲ $-235.491K ▲ $-1.124M ▼
Q2-2025 $-1.167M ▼ $-880.012K ▼ $-1.478K ▲ $-35.722K ▼ $-858.408K ▼ $-881.49K ▼
Q1-2025 $-736.545K ▲ $-835.312K ▼ $-4.57K ▼ $3.529M ▲ $2.696M ▲ $-839.882K ▼
Q4-2024 $-1.384M ▼ $-514.564K ▲ $10K ▲ $-833.56K ▼ $-1.364M ▼ $-504.564K ▲
Q3-2024 $-738.959K $-1.276M $-21.178K $1.748M $540.786K $-1.297M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Hardware
Hardware
 $0 ▲$0 ▲$0 ▲$0 ▲
License
License
 $0 ▲$0 ▲$0 ▲$0 ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement BIO-key’s income statement shows a very small business that has struggled to reach meaningful scale. Revenue has stayed quite low over the past several years, and the company has consistently reported net losses. Recent results suggest some improvement in trimming losses, but the firm is still not profitable and remains highly sensitive to even small changes in sales or costs. Overall, the core challenge is growing revenue enough to cover operating expenses while maintaining its investment in technology and sales efforts.

Balance Sheet

Balance Sheet The balance sheet is thin, with a small asset base and limited cash compared with even modest operating needs. Equity has eroded over time, reflecting accumulated losses, although the company does not appear to rely on traditional debt financing. The history of multiple reverse stock splits suggests ongoing efforts to maintain listing standards and raise equity capital. Financially, BIO-key looks fragile and dependent on either improved profitability or continued access to external funding.

Cash Flow

Cash Flow Cash generation has been weak, with operating cash flow hovering around breakeven to modestly negative in recent years. Capital spending is minimal, so free cash flow mainly reflects day-to-day business performance rather than large investments. While there is no heavy spending burden, the company has limited internally generated cash to fund growth or absorb setbacks, which increases its reliance on careful cost control and possible capital raises to sustain operations.

Competitive Edge

Competitive Edge BIO-key occupies a specialized niche in identity and access management, built around identity-bound biometrics and multi-factor authentication. Its technology and vertical focus in areas like government, education, and financial services provide some differentiation and credibility. However, it competes in a crowded cybersecurity and IAM market that includes much larger, better-funded players. The partner ecosystem and channel strategy help extend its reach, but the company’s small size and limited resources are ongoing constraints on marketing, sales, and global support.

Innovation and R&D

Innovation and R&D Innovation is one of BIO-key’s clear strengths. The company has developed a patented biometric engine, server-based identity-bound biometrics, and products like the PortalGuard platform and MobileAuth with palm-based authentication. Its ability to support many biometric devices and deployment models (cloud and on-premises) gives customers flexibility. Continued work on AI-driven accuracy, liveness detection, and new hardware like updated fingerprint scanners shows a focus on staying ahead technically. At the same time, sustaining this level of R&D is costly for a company of its size, so turning innovation into recurring revenue is critical.

Summary

BIO-key is a small, innovation-driven cybersecurity company with distinct biometric technology but a strained financial profile. The business has not yet achieved durable profitability, carries a light but fragile balance sheet, and generates limited cash, all of which make growth and resilience more challenging. On the other hand, it offers differentiated identity-bound biometric solutions, a growing partner network, and targeted exposure to high-security sectors such as government and defense. The key questions going forward are whether it can scale revenue meaningfully, convert its technology edge into stable, recurring contracts, and strengthen its financial footing without overburdening shareholders.

NEWS

November 14, 2025 · 8:30 AM UTC

Digital Identity and Biometric Access Management Provider BIO-key Reports Q3 Results; Highlights Enhanced Post Quarter Balance Sheet to Support 2026 Growth Goals; Holds Investor Call 10am ET Today

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November 12, 2025 · 4:00 AM UTC

BIO-key Partners with VaporVM to Expand Reach of its Advanced Identity and Access Management and Biometric Cybersecurity Solutions in Middle East and Africa

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November 10, 2025 · 4:01 AM UTC

BIO-key Showcases Biometric Identity Innovations at Africa Tech Festival 2025, November 10-13

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November 7, 2025 · 2:25 PM UTC

Digital Identity and Biometric Solutions Provider BIO-key Hosts Q3 Investor Call Friday, November 14th at 10am ET

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November 7, 2025 · 4:00 AM UTC

BIO-key Secures Significant Identity and Biometric Security Deployment with a Major Middle East Defense Sector Organisation

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