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BIO-key International (BKYI) investor relations material

BIO-key International Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary13 Aug, 2025

Executive summary

  • Q2 2025 revenue rose 49% year-over-year, driven by a 581% surge in hardware sales, EMEA growth, and expanding customer base.

  • Net loss improved to $1.17M ($0.20/share), down from $1.67M ($1/share) in Q2 2024, reflecting higher gross profit and reduced SG&A expenses.

  • Major contracts secured in Africa and the Middle East, including a $600K follow-on order from a defense ministry and a national bank deployment in Mozambique.

  • Launched the Cyber Defense Initiative to capitalize on increased global defense spending and cyber resilience priorities.

  • Cash and cash equivalents rose to $2.3M at June 30, 2025, up from $0.4M at year-end 2024, supported by warrant exercises and financing.

Financial highlights

  • Q2 2025 revenue reached $1.7M, up from $1.14M in Q2 2024; hardware revenue increased by $458K, license fees up 4%, and service revenue up 11%.

  • Gross profit increased 40% to $1.23M, though gross margin declined to 73% from 77% due to higher hardware mix.

  • Operating expenses fell 8.5% to $2.32M, with SG&A down 13.5% and R&D up 7.6% for new product development.

  • Net loss per share improved to ($0.20) in Q2 2025 from ($1.00) in Q2 2024.

  • Weighted average shares outstanding increased to 5.82M in Q2 2025 from 1.66M in Q2 2024.

Outlook and guidance

  • Management expects continued revenue growth from defense and enterprise contracts, with multiyear opportunities in EMEA and meaningful contract activity in H1 2026.

  • Anticipates strong gross margins (70–80%) and ongoing cost control to support path to profitability.

  • No formal guidance provided, but Q3 and Q4 expected to benefit from recently closed contracts; additional financing may be required if revenue and inventory liquidation fall short.

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Frequently asked questions

BIO-key International, Inc. develops and markets fingerprint identification biometric technology for enterprise-ready identity access management solutions and software solutions to commercial, government, and education customers in the United States and internationally. Wherever there’s a need for secure access – airports, healthcare facilities, schools, homes, offices, and financial institutions – you can count on BIO-key. BIO-key International, Inc. was founded in 1993 and is headquartered in Wall, New Jersey.

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